The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-09-08
NETWORK COTTON MARKET
SENTIMENT is STILL BULLlsH, DE-
SPITE THE DECLINE.
GHperts Who Have Been South Predict
Short Crcp--t1iaher Prices Are
Predicted.
(snecla1 to The Post \


New York, September What prom
Used to be the beginning OF hull move.
uent In the cotton market was unpleasant
" interrupted by the government cotton
report OF Tuesday. the foreshadowlng of
when caused an interruption In the ad-
vance of prices and its actual appearance
producing real decline, which brought
lgures down TO such points that it en-
uahgered margin accounts to such an eY,
tent that stock orders were caught and
the result was that Mt the weeks close
the commodity Is found to be several points
peloW that which reigned at the beginning
Inc government report was an especially
unfortunate affair, for as has been pointed
out previously, the lines laid down By oper-
ators and commission houses were such as
led to buying for a bull turn. Innumer-
able letters and persuasive articles have
been put out especially among Southern
SPECTATORS, as perhaps the readers Of this
know. the purport of which was to pro-
duce further investments in the futures.
and to open up a largely diversified in.
terest in the commodity This progrlm
was seriously interrupted by the decline
which began In Liverpool and will end
we can not say where.
1t is to he regretted that false start
has been made, but now that the act has
been committed there is nothing TO do but
look II In the face and in SO doing one
can not help but see how purpuscless and
unme99ning is the decline that was r.
Laying aside the technical position Of
the market so far ms speculation is CON
cerned, there seems very little to change
ne CONCLUSIONS that have already been ar
rived at by brokers and operators generally
In regard to the ultimate trend of prices
1t may be mentioned here that II has como
TO the knowledge of The Post correspondent
.rv1af atn L..
experts to look over the crop have re.
turned with bullsh feelings that have
almost amounted to fevcrlshness. They
claim that the crop Is seriously damaged
and that deterioration Is 70 be noted IN
almost every State which Is Of such mn
extent. that really ANYTHING over 10000 900
bales is not TO be fully expected. In the
enthusiasm OF the moment, such tales as
these men tell is to he rather discounted
and taken with grain Of salt but never
theless one can not help but remember that
they have Just visited the fields and know
whereof they speak. At any rate they
are capable Of Spreading A hulish senti-
ment amongst the members Of the exchange
and this is quite as valuable as any facts
could he.
,,, One point Is, Is put, forward as bnIsh ar,
ga,nsild which that those who have most
to do, with the production Of the actual
material are In 4 position To see exlctly
what amount of harm has been affected
upon the growing crop. Now MT this time
q large amount Of money IS nolted In the
South. among those who are in n post Oh
to sec the exact condition most Clearly
and large amount of whnt Is distributed
at this time in the belt returns to Now
York In the wnv of margins upon specua.
tive accounts Those who arc entering the
market under snch conditions will naturally
assume the hull side. and hrre we have an
element that is likely TO send prices higher
by its purchasing and which is to he re-
ear1ed at this time as very positive ele-
mont
Tho sentiment in New York remnlns hull.
ish and Is rather increased than dim' nished
as lower level Is reached. and the hest
advices that can 10 obtained at this time
is to purchase on all declines
Smart AchesuO