The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-10-28
PAST WEEK IN COTTON.
Several Things Have Been Responsible
for the Course Of the Market
HIGHER PRICES NOW SEEM ASSURED
A opbiladelphia House, Is Credited With
Bearing the Market Until It Can
Get All It Wants.
.snncInl TO The Postl


New York. October 2T.-This has Deeh an
interesting week in tn market Tor tne
white staple. On the enc hand Mr. Dor
don has not up the prize Of wages IN ms
works which has caused all sorts OF stl'Ne
dnlk among other spinning establishments
and the receipts at port and later IN the
week at the interior have been enormous
both of which were calculated to nave
depressing effect upon prices On the other
hand. The actual position Of cotton mas
been tending toward thai so often pointed
ont of late. in which splnners would De
short of the actual material with whlch
to work upon and little would he In con
dillon TO be bought from the place wheie
II is grown to Fall River and the Engllsh
manufacturing centers. On top or TINS
Mr.. Ellison states that something Ike H.,
500 600 bales would be needed to prevent
a 'soreeze" later In the year, ana every
body knows the talk of any such amount
of cotton being produced as tho above Is
ridiculous Mt this time AS d matter OF
fact. the cotton market has acted very
much as should be expected. All the sur
rounding features have been bullish, but
the large receipts have prevented an ad-
vance.
Nevertheless, an opportunity has been AZ
forded by the professional element ana tne
public to small extent to buy contracts
ana both these elements fully anu los-
ACally expect that IN advance VIII take
mace In the near future The best opin-
ions that can be obtained upon the New
Ork eN 'hange all point 10 TINS result,
that higher prices are LfdCucalli AssuIcu
and thar 1t Is only matter of holding long
, stocks for time to enjoy pronts thereon.
What is keeping the public cut Is that
they believe that 1t is not necessary 10
purchase at this moment end mat even
week or SO later, list as 81 all ngures can
be given for the staple as ore nov etcs-
sury to procure IT, Nov Ut the END or the
week MIR. Ellison's advice is forthcomiihs,
whicn certainly ought to have very OulI.sn
effect upon the market as whole. lie
deals chiefly with the amount OF consulnP-
| tion and states that about 1l,5UO,Wu bales
Of American cotton Will have TO be bought
| by splnners in order to manufacture the
amount of goods that Will be necessary ior
the worlds demand. With reasonablc
amount of surplus he brings the hgurcs
up to over i2.O0O, 600, as looked forth to
| America to produce. He does not so into
! the question Of where this amount Is TO
/ come from, but no one has been brave
! enough or beariSh enough TO proclaim that
/ this country can In the season of l9Ol-O2
/ bring forth such large amount OF the
| white staple as Is needed. Then he points
| out inferentiaily that toward the enu OF
| August the time will appear when IL VIII
! be impossible to obtain cotton and that the
squeeze" will be fully ON Yet 1t would
J seem that at this time. with this expert
/ opinion Sta ring it in the face. the cotton
/ NCrld sits complaCeutly ord allows 30 cneAp
/ an article as the futures are to 20 without
/ special bidding for them. II his view Is
| true, and there Is no doubt but that 1t is
/ the general view Of the world, which is in
/ tcrested in cotton at this time, one of the
cheapest things Imaginable Is the waite
! staple that Is now being grown and picked
/ In the South
But MIR. Ellison alone is not responsible
/ for these bulish contentious; they We're
| known and believed before his cablegram
was given out and the best judges of the
/ situation that New York possesses are quite
1 as bullish as could possibly live. However,
/ as has been said before, the largQaEecelpts
/ necessarily throw a damper upon what
| would otherwise be n conspicuous rise, and
! the spot interests are doing everything pos.
sihle to keep the price of the option down
/ uDltl they have acquired what they can, In
! order, 1t Is believed, to profit by the adj
vance that they look for later u is openly
| Csserted that a certain Philadelphia house
] Of large renutr Is working hard to prevent
/ no increase In Cae Valuations until 1t has
stored up its long aceoun. with the idea
| of unloading only when they have n short
way the market has acted on certain days
| with he near months. high at the open
| Ing and the Others about upon a parity
| with the previous days close. show how
| the real position of cotton Is We are
| drawing toward what Is very much like a
crisis In the Situation and unless something
decidedly unexpected puts in an appeA nee
there is going to be Just ore result from
affairs as they now stand A big advance
| VIII occur and those who have to deliver
the goods will be the ones who will have
to suffer. Stuart Achison.