The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-14
DECLINE ALMOST RECOVERED.

low prices shortly after that call. slow
recovery started a little later and Win
six 10 seven points advance, made
range that did not vary more than two
points during the balance OF the call. ln
the net result November ana Dece1noea
lost one point, aud late months went three
to FIVE points lower.
New orleans started unchanged on near
and one point down on far positions.
slight bulge Mt once brought the best OF
The dav and the scale went gradually
downward until bottom prices we're reacheu
near midday. A gain OF about three points
was scored on the noon call. ana IN the
next hour ft was Increased another TWO
noInte which made the level for trading
until the close In the net result NoVem.
her advanced three points, January went
unchanged and the other months dropped
one to two points. Sales Mt the tour
American markets amounted 80 1917 bales
Snot quotations were raised fve points NJ
New York. 1l6c on good middling. and
middllng fair at New Orleans ana lett
unchanged on other grades and at other
markets.
The movement continued on the same
basis Receipts at all ports for the Gay
were 40, 100 bales. compared with 49,4lT for
the corresponding day of Inst year. Since
Friday they have been 213.705 bales, COM
pared with 2s5, 234 for the same time OF
last week and III ZIG for the corresponding
they have betu 2,SG4, 800 bales, compared
with 2,61S 2O5 for the corresponding time OF
last season. Exports since FRIDAY na I'VE
hccn 14SJS4 bales, compared with iO3'e9,
for tile same time last week aud loi,oil
FOR tho corrcspunding time OF last Near.
stock nj United states ports Tor tne uag
was Si6.164 bales. compared with lOOOSf
for the same day Of last Week ana 'u5oV'
for the corresponding day OF last year.
Ha,wood & Co. OF Liverpool deliver them
selves Of the following in their late circu-
lar;
At tho time Mr.. Price secured the bulk
OF his january deliveries, estimates fangeu
round lt,50OO0O including his own ana thn
unfruitful August weather was only cont
mcucing consequently the operation was
based upon the assumption that II was p's-
sihle to hold and finance far more cotton
thnu II would he probable would be carrleu
To New York for the sole purpose Of m kiilS
stuglc mans position uDtenahlc. Buying
! further Januarys and hedging with Marrnes
| was protective. and Will enable Mr. lrice
| b. talk. what cotton Is givcn 10 him TO hold
| il for six weeks. and pass II hack 10 the
| market 3t loss. plus Financing charges. "i
! net iu0re than X per pound. the discount ~
! which Mrrch delivery stands below innt
! urv and has stood hut the main operation
tthe lorg interest In JnnunrN stu remains
| IL represents the unc1ucenuotcd lnterea'
/ the Interest which does rot handle actual
cuttuu tho interest wn'ch thc spot housc'
! o. New York who NAV tender cotton e
| Mr. priCc will not assist. they hoing en-
/ eagcd tn fulhllng their own obligations
| consequently the possession Of money sum
] tn provide u bank margin upon Such cottoi
! ns cnu he rendered Is nll that Is required
| to make the operation good leaving thos
/ spectators IN Liverpool, ON tho continen
/ and various Ciutcrs NJ America who cal
| not handle actual cotton to make tho hes
| settlement with MIR. Price they eau and I
! IL from this unprotessioral class the prom
must come. IL may he well understood
-. NlN ff,F,F /
I premium IN New York Is a Keen one, AM
| man. spot houses have taken advantage o
! II. hut each added hundred bales VIII r.
| turn 10 the market n month too late {
| helm those others who must deliver in Jan
| uAry: hut the whole operation Is n bul
| operation Il is based on the Idea OF highe
| prices than have ruled, consequently, aI
that has been said Of Mr.. Price havin
! oyersod or even hcdged Is and must b
false. As the whole world Is Instructed
| watch the coruso Of events MS regards Nj
Price and Is acting on tho general ASSUME
tlnn iEnt everything Is now favorable fr
the cT0n and large Yield. while ne IS cu
rently believed not To have succeeded In VI
operation. It II vital that tho truth Shoul
he known 10y examining the facts thea
selves rather thnn 20 Interested deduction
and srrmses and false reports.
rho spinning trade 1as hecn bad on Z!
continent and in Lancashire cotton me
chants have lost money Tor several yea
? last, general speculation Is dead, hence
| Is reasonable for the public to grasp Z
, truth Ruv report that promises a nett
1 state ~ things, and Il Is fell that this No
r ter state for the Easterl Hemisphere wou
follow on an abundant crop az low price
Q Those who preach those doctrines are cage
a ~ listened to; few but Mr.. Price state q
$ conuary. anG II is the general wish TO b
q leve that he does SO merely TO save j
. face II the world has made mlstpk
4 what q mistake Il will prove, time alo
+ can show and time is not ON the sdc
J., thosc Who make time contracts Janua
= will come ana go before March can bril
Z relief
!, This season, ms was the case last seaso
J, the demand FOR cotton will he govern
purely by the supply. because the maxlmn
amount promised VIII bring so little reli
:, 20 stocks AZ the end Of the season that
y Is n neglectahic quantity, while the stral
o should there he my deficiency, will
7 greater in proportion as II viii be sup,
g added 10 that experienced last year, wi
p no hidden stocks 20 fan back upon,
For years past We have hcen almost NO
s in preaching the doctrine that colt
q moves, In the main In consequence
h draught, due to the fuifllment or pr
II Chases and not 10 pressure due to piante
u forcing cotton on the market irrcspecti
e 81 price or market conditions, consequent
II MANY statistics that are watched are mi
a leading, and there is room for a set of ne
It indications.