The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-15
COTTON MARKET REVIEW
THE SITUATION AS SEEN nv
POSTS CORRESPONDENT ~
Weather in Texas q BEING W.,
Very cIosely--JuIy ess eiv.D
Little Attention.
Especial to The ros,

New York. July 14.--It can NJ,
that at the moment the New W.,
ton trade, as whole. have anv -
tied convictions as to the probab. !, X
course of cotton values ON tha al
it would quite fairly represent 4,
eraf feeling TO say that the trad, =
Is anxlonsly awaiting some tru,e.
indication Of the actual condition Il ~
In the cotton growing sections !,
country before yenturing into o,,.
commitments in the new crop mon,n.
Texas, as the largest cotton nros. ~
state in the union, Is naturally N,
tlcular object OF attention, and this ,.l, H
the reports Of damage by drouth fy.m
lions nj. that state have rendered ,na,l,,
more than usually sensitive 10 eona'
there. II appears to be quite eenersu,
mttcd, even among the most conea,t.
and those, usually prone to put I'm,
little confidence in reports Of crop damn.
that the prolonged dry spell is as,uss
serious proportions. It is ttue ira,
rains recently reported In the loc,as
most seriously affected have in 4 n.y., a
relieved the tension. but il Is aia"
tHat IN ni"iA quarters tneso rains Ara u
believed 10 have been ample for ,ts
quirements of the growing cron az
other hand there are many who Nm " V
that there is considerable dIrferavSSaa Vil
tween needing rain ana actual demss.
drouth. fefhaps a fair average of oslss
is best expressed by the foiowinSp sa
Z n1rN made by Representative ~ -. NJ
the most conservative local houses ~ n
Post correspondent today in ire non ~ Y /
conVerSation. lne Texas situation N
M is mat theN nave had good faIns M.
the coast and fair showers In tha fia,.r
hut nothing to boast Of We III 10y
llcve that as vet the crop of the iss
has undergone nnT material DAM
Cept possibly in a few instances r..
seems to MS that lf.good root soaklne III.
! are not shortly In order several cSbs.
( Will fal mewhat short of an ayerass ~
duction. "
The recent unfavernble crop weaN.,
/ ports have to great degree Africa
( attention from the, July deal IN fact t't N
{ ing he pas; fortnight very little Ia. X.
heard regarding the Julr-AuCusf XXI, w
I ulation The Post Correspondence wv
called upon several lhrge Commission hsos.
for the purpose Of SECURING as god an ne
as possible OF the prospects III thls dr
ton. Il may I've said that the jmnress'
very generally prevails that the whole N,
has evaporuted one very prominent n
thOrty said, I'm my opinion the n.
mas Just about petsred out. Warshms
stocks here have Increased until tber M
foot up in the neEhhorhood Of Isigs
bales, with every prospect that Inv ls' N,
Increase to ut least 10000 before X,
end OF the month Another Feature n n,
situation which | think VIII prove Al n
StaC.e 70 the putting Into effect az M
actual squeeze Is that at least two rthis
local houses are lona Of considerable NJ
ton which they bought and are AcliI,,
for the simple purpOSe Of delivering II H
squeeze Is attempted ! understand a
/ very good authority Indeed that Asa
houses nave been. approached by the d
July contracts, with aproposltlon to eiths
JON ISSUES ana form Z pool or TO sell oil
Neither Of these propositions were Il
cepted ana the result is that the ares
lhtele St Is hardly likdy to hold the IN
ntelH Tor the smaller hngs nor is IL ha!dIr
likely that the July loigs will call for 81
more cotton. though 1t may very easIlr \,
( that the cotton they alieady hold will prev,
very good investment at the prici
paid" ~"
THIS view of the slt,ntlon NAV be ,,s,
/ as quite representative of New YORK mi
/ ment. ont of the sewn gentlemen Ihts
| viewed but ono EXPRESSED S~eantfary opls
! ion. lie saiA 'Ghile very little atteatia
mas been given the July situation In r,s
! OF the serious weather conditions tia
/ month continues to be watched caretuHE
/ The stock here low Is larger than hpi6s|
/ TINS sUs0H II Is true. hut In New 0rlpln
. July has advanced steadily to about .1
normal figures between the two miTAiH
ana the. Southem spot markets remit
/ firm. The southern farmer seems 10 NJ
retaining the ha,alce Of the old crop, with
amounts 10 just jbouJ the same thlne q
h"Fing the new emp, There is u lie acnl
pressure Of cottol reported In any pat
81 the belt, though considerable cotton
sun held back ] am Of the opinion M
.hc holders of jul, contracts viii const4
( the cotton cheap d The price and will ~
sequonty force deliveries quite cpar, irl
any desire to squa'ze the shorts