Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-12-12
COTTON MARKETS ARE LlfEltSS.
LIVERPOOL SALES OF SPOTS WE'RE
NOT HEAVY.
Futures Opened several roim,. Low
er aud Closed on-New ORLEANS
Firhsins the Tendency to Lower
Level OF rriccs--Ncw York Review.

r. u. McPeak n Co. OF Fort Worth,
IN their review OF the cotton market.
say; The markets were not very active
today; In fact, were practically litrless.
Liverpool came In this morning un.
changed for spots. with sales OF 5000
bales, Futures opened to points
down, with the tone reported steady
at the decline. AZ 2 D. m. the contract
market remained practically unchanged
but spots were marked on 1-3s OF
penny ana are now quoted at 3 s-sg.
just before O'Clock the contract mar
ket was bid up sharply and was
quoted points hlyhe rthan the " IN.
figures, but this was not held until the
close. the closing figures coming in
identical In all respects with yestcr-
days closing and the tone was called
barely steady, 1t has been given gu,
IN the gossip Of the day that the squirt
in Liverpool. after the noon hour, was
the result OF large buying ordcrs from
New orleaus II is manifest that the
long interests at New orleans ia the
dominant factor in resisting the ovi-
dent tendency OF the market towards
a lower level, That market IL now rel
auvely too high Tor the Liverpool quo
tations aud much above a shipping
point, no u follows unless Liverpool can
be made to advance present prices ~ u
parity with New orleans the latter
must OF necessity enae on aud get In
hne' The situation can be seen at a
glance when these conditions arc UNI
dcrrtood and the future course OF
prices may be predicted. V the solu-
lion Of the problem can be forecast
whether Liverpool wid respond 10
Now Orleans In the pegging process or
New Orleans get tired and sucoumb TO
Liverpoora ovidopt indiRpostion to 80
higher Just now,
The markets on this side were quito
ready TO respond TO the recovery IN
! Liverpool ana when the ncws came In,
Indicating prospect VI higher prices
/ In Liverpool, both New York aud New
Orleans made spirited show, but the
enthusiasm OF the movement soon
oozed out and left the market IN the
same lifeleas rut which characterized
4 the greater part OF tho aesslon.
! New YORK came IN 3 points above yna-
tcrday's close, advanced another .
points, then lost II quickly and then
regaincd II. only TO ease away again
aud finally closed at the opening
| prices.
Spots In New York were reported
early to be unchanged at 50 Sales
Tor the day were 2St bales, and the
close was unchanged, with tho tone
quoted dull and easy
New Orleans came IN about equal To
New York at the start openluK MP 4
points above yesterdays close. but did
not gain anything IN addition until the
cloaing hour. advancing then from the
lowest point reached until II hnaily
rested with an advance Of points
from the lowest % the day which also
marked the variation from last uighta
close. the tone being reported very
steady. The small sales. ON the cons
tract market. both IN New York aud
New Orleana serve 10 Indicate che
character ~ trading now going on Rnd
tho unnnmntod sluggish complexion
OF the market, ana shows that both
bulls and hears are In torpid cOndi-
tion, destitute OF power, Tor the mo-
mcnt, TO effect any changes and void
Of spirit They appear to be awaiting
new developments and watching fof
either side TO present point OF attack
NJ some vulnerable part. upon which
TO mass their forces
Spots In New orleans were reported
early as UNCHANGED. Sales by factors
400 bales. and to arrive 1900 baiol AZ
the close ap0ia Were unchanged aud thu
tone reported easy.
The course OF the markets. the last
few days has loft great deal Of per-
plexity In the minds OF operators, ana
this uncertainty creates IA feverlsh
feeling and produces a disposition "a
switch from one side VI the market 10
tho other SO much Il this disposition
manifested that the market la IT,
turn reflects the feeling aud changes
occur Just HA this sentiment changes.
THIS condition makes a market OF fre-
quont fluctuations with M very I'm.
portant changes either way aud Nc
decided advantage can be claimed by
either side IL should be remarked
that there does not appear 20 be any.
thing foroible In the benrish move,
ment, while tho bun movement aH has
been noted heretofore. seems TO contei
around the January option. However
when the effort TO stimulate that month
IN relaxed. the whole line apparently
gives way.
II is thought by many that the large
movement 40 far has been merely the
rush Of supplies from sources wher,
necessity pressed lmpcrauvely. hnt
that hereafter the movement will b,
controlled by holders who are IN po
sltlOn to carry tho cotton md VIII
will do 70, unless there IL very con
siderable addition TO present values
Our friends should realize that tho fu'