The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-08
COTTON BUSINESS is DULL
DUE PARTLY TO UNUSUAL ACTIVITY
IN STOCKS.
Weather and Crop Reports viii lnflu-
ence Prices Now--Many Bull
Points to Consider.
Special to The post.l

been the ruling feature on the New York
cotton exchange. TO "A great extent this
may unquestionably he ascribed to the I'M
usual aud unprecedented activity in stock
exchange circles, where the effects Of cotton
are stlll to he noted in the remarkable
strength of the Southern Railway and other
securities, But in the dealings In the staple
Itself business has practically been at
standstll. At times during the business
hours of the day, the tlckcrs have for
some minutes ceased to record transactions
and prices have ductuntcd within an ex-
ceedngly narrow range. This state of af-
fairs, however. Is only temporary and even
at the dullest moment the market Is being
most carefully watched and IL is extremely
probable that the slightest development,
either in one direction or the other would
! immediately result in a rush to buy or
sell, as the case may be. And there are
! three sources from which developments Of
u character sufficiently important to thor.
oughly reawaken public interest may eman-
ate. First weather and crop progress re-
ports; second, revival in the textile trades;
third, Il trustworthy Indication of July ma
ulpulatlon.
The first named of these influences Is
/ undoubtedly the most important for the
I ltuNuH luNL II NpNll DC VI instantaneous
I conSummution ana Its effect on trade sen
tlmrut would be Immediately apparent.
! There Is always more or less unfuVorable
weather Otherwise the crop would prob.
! ably reach unheurd of proportions The or.
binary bad weather OF the description fur.
nished to greater Or lesser extent every
cotton season, is not, therefore, necessarily
II hull fnctor so far as ultimate results
| are concerned But in Respect to It's imInc-
/ diatc envCT on trade sentiment, ana not
/ Wlthst1udiug the repeated experiences of
~
4 doubtedly result In u temporary rise. Re.
/ ports of crop damage also work out on
/ practically Identical lines And thus, 50
fhr ms July Nnd August are concerned, the
prchOmllWtng influences uf the market
WILL II The history of the past may he
accepted as guide unquestionaby bc
quite rs frequently as Otherwise In favor
( oil the bun side. OF COURSE, these Influence S.
viii most probably be entirely temporary
forget, but also to urdo. l'ut bursts OF
hun activity viii undoubtedly he In cyl
drnct u9 result of such reports. On the
oth,'r hand. SHOULD the very unrsunl nccdr
and no such reports gain credrncc, II would
appear that even should no Improvement In
the market for goods take place that eur.
t rent demand viii probably prove sufficient
, 10 absorb enough Of the last crop to pro
vide fur only II moderate carrX.ovCr. and
one which in the opinion of many would
, not warrant II price level much below that
, which now obtains.
In considering the second of the market
, Influences named above, II may perhaps
justly express the situation to say that any
, news from this direction VIII be good news
, and that consequently II anything does de.
NelOp In this direction II will Nc I'm the
+ direction OF higher prices; for after SO
long "a period of depression IL docs not mp
, pear possible that the worst Is stjl to come.
II would scent therefore that all the
chances In this direction wcr" In favor OF
the bun side. nud while very little actual
J Improvement can rs yet be noted In the
textile business an improvement in the dc
mand for any commodity Of legitimate bar
aFaft L.