The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-28
4 DECLINE IN COTTON.
| .,.s,Isep MARKET THE RESULT
cONof RECORD BREAK
4. tlok Option Was Manipulated
n !. ,he Decline that Resulted.
~ The Situation.
.s...lnl-tn NC Post.l

IuIv ga more confused
n" Kan that existing at present In
sa IN no, easily be imagined Every
re ~ .a,,sItlon is conducive to such
|aai IA hesldes this the lack Of In
|'all% i. shown by the public and
M upon the floor Of the New YORK
XIV. .s III tend TO make the course OF
' 49,. a prcblem, the result Of which
H'', ,.rgsly guess work and In which
N ~, m experienced are as wen en-
!. consideration as the professional.
SosettIng Of the plans that had been
=, the July option was the last
N M, destroyed system and made
~ Aa, ,bo market. A few days age
~ =. was quietly given out that the
nonth was good one TO leave
FxA Tbe Post correspondent was given
. .iashle information from one whose
y No mas every right 10 respect, aud
hg NV. was that q squeeze was TO take
n the present spot cotton ana tnat
~ Of price was to he demanded
4 u n the next fortnight. what hap
IN though was very dlnerenI. Juy
es,s mon liquidation aud switching
HSu ~ started By lower cables and the
Is.usnce ~ good weather reports from
Y. The last has been a decided elc
H. tbe market during the past week.
IA X emphasls which has been given
N Increasingly propitious climatic con
in 4 me belt Is due rather to situa-
,sst Il Immediately outside of thc
,ssnlng In the white staple. AS Is.
..nsse known the corn market has ali
IA great deal of attention, not only
a w knktfnnl1y 1nn1 n fhnf
III hut also from the traders In stocks
4, honds The granger securities have
ssdouslv Affected by the scorchiug
;srd lack Of rain prevailing throughout
I'D and the Middle Central West. Re
4 i, rom this section have been appear
4 ..rstantly and they have all been of
a amor mo rain, Intense heat" Coupled
a I, hese. however, have come the re
In. from the Atlantic states and from
4 eui that continued rain and advantage
a pniIuons have prevailed. 1t would
h. rs II these reports were given out
A aiply as they have been with the idea
,Tnhadzlng the exactly opposite condi-
4, hat has prevailed further north.
E,her this was prcmeditated or not Is
4 he question. but nevertheless IL is
4. tAat al almost every time word has
sared from Kansas or adjacent States
"A 10 relief has appeared. AT the same
N il would he noted that Texas and
4 Eastern States were having Just about
4 nuch moisture as they wanted and
In ENJOYING the most excellent weather
4 IN Is the crops In that section were
Ylnei. Such homhardment of good
&ris regarding cotton could hardly have
In than the effect Of sending II lower.
4 he face Of this there was no element
4 M exchange that had either interest
Il nGgy enough TO combat the natural
IA and the Inevitable result occurred
n Encouragement was given to the bull.
especially In the near months what
Nh cotton had been held for n rise was
Htvn upon the market and decline was
Mulf,
III this, however, Is merely a technical
tifa 30 far as actual facts are con.
he'd The real elements In the cotton
%iiet today are the accumulation that
iskel place at various ports, especially
yPg York, OF larger amount of cotton
I not altogether salahle in the largest
hat II Is Of the poor grades that can.
h exported and still is able to he
Veied upon contract when such negotia.
~ are contaminated upon the floor of
New York cotton exchange. The old
gale that has so often been spoken of
deprecated by every one who has the
rest Of the cotton industry at heart
u noms up and Is significant Mt this
u II Is serious defect in the New
I market and will remain SO until It IN
rhied by eradication. However, as the
tilon Is faced today stagna ton Is an in
ihe result OF the accumulation as II has
Hind and while there Is no question
While the market has overacted and
aeelne gone too far, as far as ordinary
ailta conditions are concerned. this
vre IN the spot situation prevents an
sn'e and will do so as lon. MS 1t Is
Stuart Acheson.