The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-25
COTTON MAKES DECISIVE JUMP

ness. Sales on the spot amounted 70 1000
bales st quotations higher by points on
ali grades. except middling fair which
| advanced s points. At the close contracts
made a gain Of to points,
| New York opened IS points up on Novem.
Der and TO o up on later months, There
was a small advance at once which was
followed by a drop OF about points. A
recovery Of this loss made the trading level
! that prevailed through the morning, shortly
after which there was renewed hrmness.
A more steady advance was under way by
| the end Of the next hour and within a
similar period high point was reached and
| held until the last call In the net re-
| suit December advanced IA points, August
% and other positions went 10 10 Is points
higher.
New Orleans started to . points above
the previous close, This level ruled " q
only a variance Of points during the hrst
half Of the morning, when q decline TO
bottom prices took place There was a
slow Improvement until the latter part Of
the morning when O rapid rise set In and,
| Increasing aftcrward, brought top prices
an hour beyond the noon call decline
Of to points occurred In the next thirty
minutes but half Of the loss was reganed
and held TO the close In the net result
November and December went Up 10 points
sud later positions gained IA 10 18 points
Sales NJ the four American markets
amounted 20 10.os7 bales. Spot quotations
were raised 10 points at New York, sc Mt
New Orleans and at Houston and Galveston
/ low middling and grades below were ad-
vauced i-i6c. mddllnG nc good mlddling
S'l6c and midding fair 5-l6c.
By comparison, the figures OF the move.
mont were strikngly near together he.
cciptB AZ all ports for the day were 81 B54
bales. cmopared with HlGOi for the CORE
spending day Of last year. Since Friduy
they have been 94,UQ2 bales, compared with
| JOS, 100 for the same time Of last week
aud % I'D for the corresponding time or
last year Thus far 10 the sensdn they
/ have been 3,842,S72 bales, compared with
( 3 0SG i61 for the corresponding time OF
last season. Exports, since Friday, have
hoen 1854 bales, compared with ~ s4B
Tor tho same time Of last week ana lH4 1885
Tor the corresponding time of last year.
Stock az United states ports for the day
was e$uN32 bales, compared With sl4 aHS
FOR the same day Of last week and 7b6 rs
for the corresponding day Of last year.
Fairplay Of London takes an exceedingly
dlscouraglng Wow Of the ocean freight SIT
uHtion. II says; There is no improve
ment to report IN any direction. and, in
fart things still seem TO be on the down
ward grade. What owners are going to DO
with their large modern boats, recently &C
aulrcd. is a puzzle to most people How
many Of them are going 70 manage TO
keep their boais running 10 pay expenses
and meet their mortgage obligations we
are ~ loss TO understand Difficulties
and obstacles seem to be set In every pain.
As regards United states business there
can not possibly he any dlsputiug that "a
send any boats In this direction is sheer
madness, which can only result hi great
laes being made. We suppose owners OF
large boats viii now make a frantic ef.
fort 10 get them into the Eastern trade,
10 L. aNaa
about es sd out from Wales to Colombo,
/ etc. The situation at present amounts "a
this. Trade generally is Ia such De.
pressed condition that Il oan not absorb
the tonnage seeking employment. Owners
nre lighting, one against the other uYtil
they have got rates OF freight down 10 al
most vanishing point; but even now they
/ are not prepared to withdraw from the
I ruinous combnt-thc mean to tight unti
! the last gasp. In the face of this battle
! " determination, where is the sense OF
/ Tonnage into competition which owners nrt
/ dclnG2 Builders aud mortgages had tal
! better come to some arrangement with me
( nloTtgggors 10 ne mp the boats until sucr
/ period as they can be prodtabiy sliio1
/ ihis Ia the only way ont OF tho present
sitation.-the only way of safeguarding ia,
interests Of all concerned There is no mis-
/ tnklng the situation; owners have never
had such critical time To pass before
, mud II they are honest they win ndmIi
this 10 he the case We have. oyer duc
over ngauL recommended laying up nui
/ this is only pooh Poohed owners snvup
tnat running even az loss Is better than
laying up