The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-10-13

New York October PA week which
mas been diversified by various sorts OF
movements In the cotton market ends
| rather tamely but still with considerable
advance Ia prices over those prevailing
on Saturday last. The government report
OF last Thursday did Its work In very
satisfactory way for those who looked for
| higher prices and the points which have
been recorded and sustained have been
enough to allow large number OF holders
| OF contracts to get out of the market
and walt Tor reaction which is now 10 a
certain extent appearing. Altogether It
really looks as II we were having q healthy
aud legitimate market to contend with In
the STAPLE and as II for some time to come
there was money TO be made IN dealing in
cotton contracts. One thing which Is to
De noted is that the orders from Wall
street houses which have been received on
the New York cotton exchange have been
large and encouraging. rs 1t shows that
! this element is about to take renewed hold
upon the white staple and may be a factor
In forcing 1t upward. Just now stocks are
the most unsatisfactory thing imaginable TO
deal Ia, and there Is great hestancy In
either going long or short of the same
aud some of the oldest operators Ia securi
/ Ties are looking toward couon as pos
/ siole chance for them To speculate. MS
| element Is not n small one nor is 1t likely
to be appreciated by the cotton brokers
generally For II once their head is turned
| IN any certain direction II is very likely
that they will become an important factor
| IN the ncld which they nave entered.
There is a peculiar unanimity of opinion
ABOUT the cotton exchange as TO what
should happen in regard to prices. II
/ statistics are worth anything they GER
| tanly point to an advance In quotations.
and such change IN price should come
luSi at this time when the market Is re-
ceiving new orders and new Inspiration that
lead 1t to look Tor an advance. Now, II ever
an impulse must be received that is 60 be
OF permanent and strong value To the cot
ton world, and II II falls to record decidedly
higher prices a present, there Is no hope
for its doing SO nj any immediate future.
Cotton quotations have been dormant for
a long while awaiting some strong IN
centlYe to send them upward, ana now II
would appear that they have received IL
In the last government report which came
as very great surprise and certainly was
the strongest bull argument that could ever
be put forward in the cotton world. Inc
market responded for the time being, und
then certain amount OF proht-takng
caused q reaction which was thoroughly
natural and legitimate under the circum-
stances but after this reaction has spent
| its force there is only one reasonable thing
to happen. and that Is renewal Of the
upward tendency that Is to hing prices 70
very much better ones than they have
seen this season. There is no reason vet
10 regard the situation as hopeless or even
discoura cling but the cotton world expects
thar those who regulate the price Of the
commodity shall put up the quotations for
the futures to such an extent that con
siderable profit will be- in ore for those
who have held contracts through perhaps
many weary months.
At the moment II would seem that no spe-
| cial interests are taking hold Of the COM
modify and that the buying which has oe-
CURED IL Of the lighteSt and most unlm-
portant sort which is ready to re,inqulSh
ii wholly after very few points profit has
been recorded, Any real important element
| has not YET appeared % the long side,
! but II is fully expected that from now on
certain cliqucs aud Interests will get to-
! gether and dominate the price OF the com
modify and make the figures for the In.
/ tures One or two Wall street men have
! entered the market In a large way but
/ they have nor done so with any very In
/ tense inter s and their work has so far
been unimportant. The best thing that
| could he said for prices is that brokerage
! houses generally, including few that have
/ large stock interests. have been making a
| decided effort 10 gain business and been
putting out bullsh circulars which should
/ bling In a certain amount OF business, all
| o which will be on the long side. If these
! feeders" succeed in their mission there is
no question but that cotton will start up