Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1892-11-17
ONLY A POINT
Lower Did the Stocks Go that
the Bears Raided.
NOT ACTIVE BUT VERY STRONG
Was the Temper ShOwn-Raies on Cali Monsv
Go Lower-Prime NJ rcaniile Paper
10 Demand Railroad Bonds.
Financial.

New Orleans, La, Nov. 1C.-lSpeeia,l
-McElroy * Gilbert say.
Futures-The upward movement eon-
lhles with unabated yigor. Liver
pool response to our advance
Of yesterday was fully nm ~
expectations. The greatest imnrore,no,,3
being f-Ol and the closing sfeadv at
IN advance of 5-64 over yesterdays clns.
ing. In New York prices are M fwentv.
one points and here seventeen paints
Everything has favored Continuation
OF the advance. Spots In Liyerpnol yxer,,
in excellent demand and counting no
sues after p. NJ. the total business
thsre to-day was 1000 bales at rs adj
vance winch brings middling TO BID
The semi-weekly interior movement
shows falling of compared with losi
year ut all points but more particularly
at Houston, which had previously done
so much TO keep M the average stocks
ut interior towns instead Of increasing
1t has been declining and altogether The
seinl-weeklY movement Is Of n very bull
ish character. Port receipts are also
light The total for to-day being 81 200
bales against $4,000 bales last year
Tomorrow New Orleans expects 10000
bales against $1,000 bales last yenr
but the total port movement Is likely 10
be less than last year or about 1900
bales
Spots have been in active demand
throughout the day and prices are 1-lo
higher viii, sales Of 1000 bales from
factors tables and l.500 bales to ar
rive. We have been told by exporters
that a, good part of the purchases to-day
have been to replace (. o. b. contracts
which interior sellers have failed 10
fulfill, in other words they have left the
port buyers in the lurch on account OF
the advance and forced them to replace
mere at higher prices. Ii seems TO us
that the time has come for sober view
of the situation. The present advance
started Mt I52 for january, that month
to-day sold as high rs 911 or several
points higher than / 1-2c advance il
will not be forgotten that last year al
though somewhat earlier in the season
a like extraordinary advance took place
but was followed by more distressing
Decline This year there is little llkli-
hood of a repetition of such experience.
but it may not be ont Of place to make
some comparison in prices on the basis
of Mr.. Ellison's circular to which we
have referred during the past two days
On November 10, 1890, midulng at New
Orleans wns worth . Lie, and in I4iy-
erpoo . 5-l6d to-day. Middling is
quoted here at . IA. but In Iiv-
erpool at only 4 15-1Gd, so that while
our market is just as dear MS two years
ago. Liverpool is 3-Sd lower or 3-ic from
which can be readily seen that our mar
ket is 3-4c TOO high or Liverpool TOO
low, When If the market should further
advance this disproportion viii be diff
iicult to reduce and we think our
friends will agree with us that il is ut
least judicious TO take out profits now
shown by existing long contracts. There
is an immense long market both In
New York and this market aud II
shorts started to cover by any unfayor-
able circumstances there would he CON
slant selling, seriously depressing prize
rs. The question then arises is it not
better to take sure profits than to wait
for greater gains with the risk attend
ant of collapse at any time In view
Of the artificial level established here.