The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-22
JANUARY COTTON DEAL
~ yoHK FIRM HAS CONTROL
OF THE SPOT STOCK.
House Has All Outstanding
ro,stracts and There May
BE n Combination.
lsoeeialto The Posi.)

| l0pfGNLA ~ 4 ftt bstFf
|. vort January 2l.-The New York
market is, in fact, speculative
n in the fullest sense Of the word.
Ia Il meant that the great majority
|. transactions on the New York
!, Exchange are made, not for the
t. Of obtaining cotton for actual
I,nus.on. but in order to realize a
ON the sale or purchase, as the
NAV be. II is not intended to con-
be, idea that the Eastern mills do
Ilysys stand ready to take full ad-
80 Of any favorable difference in
which may exist here as compar-
kth other centers, but business of
nature represents a very inconsid-
portion Of the total transactions.
market of this description, manipu-
is usually a potent factor. And
kuat9oD in the January delivery is
how responsible for no small meas
/ the Mmidity and hesitation which
eeryable on every hand. One Of
urge local firms has secured control
tually all the cotton now stored at
bort, while another equally strong
holds practically all the outstand-
kntracts. The possibility of COM
lon OF these two interests is inter-
The result OF such a combina-
s impossible to predict. But the
would readily respond to the
kaent in whatever direction.
tn the manipulative features OF the
lon are considered in conjunction
HE conflicting reports received here
8Soutnern sources as to the sizes
kmdi " with which the curl emit crop
8ng marketed, 1t is not surprising
SmonS those operators, whose posi-
! and regulations are such as to
height to their opinions--it is diff
4 no. TO say impossible, to ind any
Milling to put himself on record as
eung the PROBABLE future of the
y, the probable size of the crop or
rubaOie course of domestic con-
ION. One gentleman, well and ia
~ known in local circles, as the
and active member of a conseiya-
Rnd responsible commission house,
so far as to say TO Tho POSI- cor
ldeR. I'VE do not expect crop
ling the government figures nor
look for so small an outturn as is
4ted by Neill, 1t is our opinion
4he crop will foot up some where in
bghborhood Of 10000 900 bales ond
sure we do not consider as favor
"a bear operations. In royarl to
pption, We see no reason 10 de-
that any failing OF will be expert
from foreign sources, with the
De exception OF China, but the
fic situation is somewhat mere
pin. Nfom present indications, |
say that q decrease of At least
cent would oe The result Of tie
in this country. We do not eX-
ply decided movement in The mar
some time.
encouraging feature in tue cotttn
however, is contained In tile iAct
ll offerings are freely ;ak41 for
II not domestic ., sumption.
. as This rem gins true, holoors
Ion have no apparent c., sc for
And in this connection il
DC remembered that while ter
RpinnerS have exhibited reluctance
current prices, which may Ler-
|e taken as indicating thai current
are proving no check to foreign
Aption, the domestic spinncrs lave,
made no serious effort % replerish
epieted stocks, or IN iaa.., TO pur-
more than barely sufiiclen, 20 keep
peeis moving. in the meantime, /
informed, on fairly reliable au-
that the stoelts OF manufacture |
pas have been drawn dow. to a
Very nearly approaching :tc low
mark. Therefore, the rapidly dis |
ny stocks of raW cottjl in slin- |
bands, is considered in it's rels-
10 the reported scant sippl3 of
ctured goods--lnd the 'oi.nerd-
ilude Of holders % Gotten goods
seem to substantive the claim
NY good basis exists !or the eX-
n that a Stacking III fore gn re-
ms would be promptly offset by
- puylng on ths part o. New /
spinlers.
matter OF fact the prospects for
are are, in The opinion of many
pest and most conservative men,
Y 10 the actual holder ami pro-
Nnen once the market has fairly
y tne present dullnoss and the
season puts new life late the sit ,