The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-01-11

Prices are expected to continnn ot ~.
u 'ei, ana one that promises TO bring the
op ra,.it,i Of the southern planter more on
years. wv '"'' io'''
VARIOUS VIEWS.
IN discussing the cotton situation, ]. ].
CneW' one OF the leading foor operators
on the exchange, says:
For the past three years cotton has
oeen made more attractive TO the specuIn.
i've public by the failure, or partiaI fail
ure, or the last three crops, the consump-
uon having overtaken the production and
this condition promises to continue until n
so-called bumper crop is raised The size
OF thls crop that of 190203, is vet unde-
!ernlneo. the government estimating IL st
lO,4OO,Ou0 bales. Buston, Liyerpool
operator who is in some quarters REGARDED
as an authority, places It at Ii. POO COO
minimum. NELL places 1t at IL, 400, 600 bales
way from 100000 to n,700,OOO. The
movement OF present indicates a crop of
about 100000 bales. The world requires
I La bales. At 81 cents this much
wiz certainly be needed. Now. will this
amount be raised this year? think not
My estimate is 100000 bales.
That the Mexican weeyil has done great
damage IN Texas Is generally admitted
ana tine situation there is serious, for the
infected district comprises more than fifty
or the largest and richest cotton counties
and these showed decrease Of over 500
COO bales In 1901, while this year the wecvil
has infested seventeen additional countiea
Probably In another season all Texas aud
portions of the Indian Territory, Arkansas
and Louisiana will he affected by the pest
Next season the crop must no truly
bumper or there will he a cotton famine
! doubt If we can raise a bumper crop
with the Mexican weevil I'm such large mum
hers and spreading over such a large ter
rltory.
THE drouth. long continued In many ser.
tons; unusually high temperatures IN the
past summer, and the interchanging spells
Of get and cold weather this fall have
made this a moderate crop. / believe in
much higher prices for I believe the spin
ner is poorly supplied with cotton and that
trade Is not on the decline
\ = y
S T. Hubbard, former president Of the
cotton exchange, had this to sag Of the sit
uatlon:
season have brought about 8 situation
which is new TO the trade and direct
result or the wonderful prosperity Of tie
South following three years OF good prices.
From the improved financial portion Of the
average cotton grower. there + the ability
on the part Of the planter TO decide whether
he viii dispose ot his cotton at Ii given
time or not This has brought about Il
business v Which for more than half q CEN
fury hsye ruled in the cotton trade Of this
country Before this seas ID, the neces-
siIies OF the planter Ia the way OF meeting
obligations incurred during the summer
were such as to cOmpe, him to rush his
cotton to market as soon as Il was gather
ed. For years the majority OF cotton grow,
els have been too poor to hold cotton or TO
plan 20 take any advantage of possible
rise In prices after the first rush OF the
new crop was over. But this year the
planter finds himself with small debts and
a surplus production Of food which enables
him to hold the cotton grown during the
year and to offer Il when the market price
reaches his idea Of the value Of the staple.
The spinner in this countr~ and in Europe
is quite aware of the independent position
Of the planter
while showing less confidence in their
attitude than that shown by the grower,
they are nevertheless pursuing a policy
which they consider will meet the changed
conditions of affairs, As they believe the
growth OF American cotton to have been
liberal this season. they do not become
excited when the movement Of cotton falls
off by reason Of this holding by growers
or because bad weather prevents free snip
mont On the contrary, they buy slowly,
little in excess Of requirements; AS an
illustration of the improved condition OF
the Southern planter, an instance Was
IN Itself is not remarkable, but It shows
what n radical change has taken place IN
most Southern communities Inc planter
hailed from Alabama and didn't even own
his land On n rented plantation he hnd
grown such a crop Of cotton and foOdstutts
as 10 make him almost independent. On
December he found that he had balance
In the bank Of $1,000 and food sufhclent
TO last through tho rest of the season.
Never before had his hank book shown
balance OF more than Sl5.
"As far as the cotton market user q
concerned merchants arc rather confused.
At the moment the market Is passing
through n period Of unrest resulting from
the liquidation of large long interest
which At one t Nae y yGTea'e1 6yine 10 the
disturbances I'm Wall street and the un'
settled condition OF the money m@rket
generally this interest appears 70 nave
abandoned its original intention In the
trade Il is believed that the crop this year
VIII reach il, 100000 bales, or about the
same yield as during the two large, crop
come In greater proportion from that
section of the cotton belt outside Of Texas
than is usual Early In the season It was
estimated that consumption OF AneIic ,,l
cotton might reach even this large produc-
tion But the Generalization arising from
the decline IN silver IN many or the iargest
cotton consuming countries OF me East
and the production IN lHdla OIL crop
i'm excess ~ early estimates have changed
former ideas Of this seasons requirements
Many merchants now believe II VIII be ar
hcult to use full --'UJoVy9 Dalesi it,
cent decline IN the price OF certain lines
az cotton goods In the face Of an advance
IN the price OF raw material rs accepted
as sustaining this opinion During the
fan n corner IN January cotton was VIDE
IN advertised aud many planters are hold
ing their cotton for the squeeze IN that
nnflon II Is moi likely that cotton SO
held win he disposed Of until the planter
Is satisfied that no corner VIII be at
tempted
Louis de Gumoens thinks the present
price of cotton a very fair one for both
producer and consumer. He says; There
stlll exists wide diversity OF opinion as %
the outturn Of this crop. Weather during
the fall proved so favorable that every one
has increased his summer estimates Thsn
the government report placing the Jis.d