The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-30
MARKET AGAIN FEARS FLOODS

them was an eager buyer of July and Au.
gust.
Liverpool had no valuable cue 20 offer.
Sales on the spot amounted 70 1900 bales,
at quotations lower by 3-32d. In the finale
contracts sustained a loss Of about 1-64d.
The circulation OF new cotton was said to
attract the attention OF foreign operators.
New York opened points down on July
and 20 less OH later months. A small
casipess appeared at frst. followed by
steady rise during the hrst half hour. This
Improvement was almost entirely lost dur
Ing the next half hour, after which there
was n slow rise to the best Of the day
4 small recession then occurred aud thete
was little change for IN hour beyond riid
lny. when 4 somewhat easier feeling start
cd and prevailed through the balauc7 OF
the call. In the net result July and August
gained point, March I aud the other
months went . and 8 points better
New Orleans started points less on July
and practically unchanged on latr months.
slight bulge occurred at once aud graz.
ual recession 10 bottom prices followed dur
irg the FIRST thirty minutes 4 rap u rat
10 the initial range took place Mt once, aal
With n further small gain Termed tae level
that ruled until near midday sudden
decline appeared at this time. hut was re.
covered In the later trading ana values
continued 10 rise until top prices were
the net result july advanced 10 points,
August aud September md thc later de
liveuts and 4 points, Sales VI the four
American markets amounted 60 10. 800 bales.
Spot quotations were reduced 1 49, AZ Now
York, hc at New Orleans ana elsewhere
left unchanged.
There was nothing significant IN the
movement Receipts at ali ports Tor the
day were l6s4 bales, compared with +ul9
fos the corresponding day OF last ycat.
Since Friday they have heen 1865 bales,
compared with 1855 fo The same tlnc OF
last week and li,sIU for thr corresponding
tine OF last year lhus .Ir IN the Season
they have been I,i2p,bsu bales, compared
| WIN i,4uJ,oii for tie corresponding zinc
/ OF last season. Exports since Friday have
J nccn 25b2 bates, compared with 1900 Tor
: the same tine Of last week aud 2IO2 Tor
tie corresponding time Of last ycar stock
AZ United states ports for the day was
2lH,9lU bales, compared with 24T. d62 for
/ the same day OF last week and 347,25 Tor
| me corresponding day OF last year.
Mr. Theodore Il Price Of New York has
addressed the following letter regarding the
! cotton situation 10 the splnners o; ;he
! United states and Europe
| 1T is my confident conviction that the
| condition Of Tie cotton crop at present Is
! tAc most brilliant ever known At this time
! In the season While. ut course, Il %
possible that tai~ condition may detprior1ts
botW eou now and It's maturity ! Hm ron.
WINGED that large yield Is already assured
/ II conditions continue favorable until Sup
I ttmOcr and frost IS uot ahu0,m1lly curiy
! shah hesitate To- set limit Jpru tnc pos
STOLE production. lutcr these condition, IL
seems TO me that spiuners Wiil consult tArlr
own best interests 10y posiponius purchases
I ior the present as ] am cpIuGuut there viii
be an abundant supply to draw srom later
ON Wni'e the present statistical position
is undoubtedly strong. the nov crop VIII
soon be available aud producers viii IN.
doubtedly lee disposed promptly 10 meet
I be market IN view OF the probabilities Of a
large production.
Although a hch man mny have only a
few shilihgs IN his pocket be Is not neceS-
get a check cashcd. aud this IS somewhat
the position OF the spinner AZ present
Light stocks, unless they Involve a stop
page II machinery before shipments 81 urN
/ cotton can reach Europe. need not neces
sarily result IN any embarrassment My
purpose In connection With the cottrI. crop
Is 20 present the facts aud the trptl as
see II. In view Of the present publication
Of statements that ! WAS aiming Co ad
vance the price Of cotton ] take this Cppor
: runity of sayirG tllnt Ms far as my influence
no desire 10 force an extreme IN pith,l
direction. I should he sorry TO induen"'
. consumers into paying high price fnr
large cron. while ON the other hand
2 should be sorry 10 persuade producers q
part VITA a small crop Mt below lrs value
, During the coming year | expect cotton vii
he IN liberal supply az moderate prices,
, Z condition which IN the long RIM Is 90 il,
! best interests OF all concerned