The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-27
COTTON MARKET REVIEW.
Liverpool Futures Were Better Than
the Trade Expected.
HEAVY RAINS REPORTED IN TEXAS
Many Claim That Great Damage VIII DO
Done-Othsrs Look for
Top Crop.
office OF The Post.

Top Crop.
Offioe OF The Post.
Houston, Friday, september ~.
Liverpool was rather encouraging this
tho consensus OF opinion that the crop mas
gain of 1-6id. In the face of the decline
on this side Friday. the improvement
abroad was rather surprising. 1t gave
the bulls little mona backbone. and pre-
vented the bears from being very agsres-
sive Futures in the American markets
were about 10 points up early In the ses-
son, though closing only to points
higher than yesterday. The spot markets
were generally steady. with no quotapis
change In prices,
The top crop" talk sprung by the pears
Is proving a boomerang. Excessive rains
have been reported from nearly every Sec
ton OF the Texas cotton belt. anu IL Is
morning futures In that market showing q
been injured rather than benefited. PICK
ing VIII be retarded. and many corre-
spondents state that all open cotton VIII
be greatly damaged. Others say that the
rain is too late to do any real sooo 10
the plant, and that all talk of top crop
is nonsense. There are some we'll posted
cotton men who claim, however, that
with hate frost the prospects Tor
larger yield have been very much I'M
proved. They point 20 the year 1874 when
Texas experienced good rains in Septem-
Der and October with the result tnat
farmers picked cotton until the middle OF
December.
The general conditions affecting the
market are unchanged. except that re
ceipts today showed some decrease. Tho
pressure To sell spot cotton was also less
today than heretofore, and many trad
ers have Il very favorable opinion of the
market at this time.
At today's session New York futures
opened quiet and firm. with December
selling at S.l7. BY 1875 the quotation was
90 but after this prices cas- ed of, ~
closing being at s.1S4S.l4, against S09da
| yes terygy. january sold at 81 early y
kxput dropped to $50 before
rs December opened at
yp79l by $3.50. then dropped
Used at 7Sj47.s6, against ISL
kTt$e Fszay. January sold at 79S
earty''It Tne DAY, hut dropped to 7s2
According to Cargin & Richardson's ad-
|
leans curb this afternoon at 7.SS. The
price on the final call was 7.s5g7.S8
j. H. Royder Il Co. of Welborn tele-
graphed Cargill Il Richardson this after
neon Heavy rains, followed by cloudy,
drizzly weather. But little cotton ungath-
cred and that seriously damaged. Top
crop farce"
Captain William Christian returned this
afternoon from a visit to one of the I.
". House cotton plantations. lie states
chat the continued rain is causing Il great
deal of open cotton to fall from the bolls
1t seems the lint is weighed down with
the excessive moisture and drops to the
ground, although the present rains have
not been accompanied by any wind Cap
tain Christian says that the possibility oi
Il top crop Of cotton is very slim.
Clamp & Co. of New York write under
date Of September "A: MANY cotton fac
tors now prcdicS values are high ,nousi
hllc the crop is moving ami spinnvis
idle. In lSA-SS about 1872 per cent OF tn
crop was marketed before December 81
| me crop was 1.6Hp-l bales. Sep'embel
| reeolI.is then We're only All, $50, Or abou
acreage was then about Ihrce-quarter.
Is ArS-. In 1888 76.A per cent OF crot
.''V -, ~ ~, ~
,,,,' ~ IN t"e' o-''"o, -
seem 10 h in comm az v,l,,. $40,
that' s,tnners Snti,,e,.t h,, III,
si"rks i,re i'm, ,,n"u,"h ,o e,,,h,'.. w.
hrlls ana ilaSnuror.. 10 hen,s s~ec,,In
lion f. lit,ht Freirhts hirh ana tcar'e
None, - hard 10 srr,,ra 10 ca,'rv cot,o,
OF plapinttons. therefore. VIZ look FOR
iIhsr,I r,nya,,.,,, Mo .i,.hr MI 20
pert, and possibly higher range o
prices If receipts should fall off or an IN
| ,rAl "A dor md IN
Now York Sentamler % -Uubhard Rro.
Il Cos cotton letter SAYS: The fornirI
markets showed more steadinrss TO-DAY
m mai Hn5 L ,Se %a mas Peen more nor
; calIy The heavy rains in Texas have sus
tanned the idea that top cron q nos
sihle in the northern section of that STINT
un'ass rut cff Ia, an c,,.',- -. -, i ~
|