The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-10-27
COTTON MARKET REVIEW.
Continued Heavy Receipts Caused
Prices to Decline.
TIN POINTS LOST AT NEW YORK.
Not Much Activity IL Expected Tbs
Week-Taik OF tn. Alleged
Top Crop.
Office of Tho Post,

'iN"N'Nas sh'hhhs. 'NtohtI sN
A private telegram from New York to-
day stated that traders there were bull
ish. but many were becoming uneasy on
account OF the continued heavy receipts.
Liverpool futures showed loss Of l-tidfi
Ia -6id and New York closed at decline
of 10 points. New Orleans futures also
lost TO 10 points. Prices are again very
near the low point nearly all OF last Fri
days advance having bccn lost
Port receipts today were considerably
above expectations. the total being a. 900.
against 10000 on the same day last year.
Estimates for tomorrow indicate coatinu-
alton OF the heavy movement, New Orleans
expecting 81 900 to 50 900. as compared with
l6.556 on the corresponding date in 1898.
II istor expects 20,500 to q 600 against
lA.iiS last year. These enormous receipts
are puzLling the trade and cause renew b
al OF the pressure to sell spot cotton.
The general sentiment In the spcrula
tive markets is to 20 slow just at this time
and keep as we'll protected as possible
until after the election. The export move.
ment promises to be large again this week,
and would no doubt be much larger were
1t not for the scarcity of freight room at
all Southern ports. Clca:ancos f,r Great
Britain today were 81 300 bales
New York futures opened easy a, de
cline of points. December sold at 7.S3
on the opening advanced 10 7.S6 during
the day. but closed at 7,7Sn7T9 against
7.SSH1.S9 Saturday January sold at 40,
for the highest and reached tho lowest
ngures-7 SS0 1S9--on the closing call
In New Orleans December sold at 30
shortly after the opening, dropped to 1iS
by noon and closed at 7.iSGIi4. against
7,52n7.5S Saturday. JanuaTy's highest was
100 and the last sale was at 1.54
The American spot markets were goner-
ally quiet and easy. New York closed duh
and Lice lower.
John Schmidt of Nacogdoohcn, r T.
subbs of Waco and Samuel ltirhman of
Florence. Ain, were visitors at the Hous-
ton Cotton Exchange today.
The following letter was received by Car
gill & Richardson this morning
Taylor Texas, October 2i.-As regards
the cotton crop here we beg TO state that
there has been for some time past quite Il
talk OF top crop, hut We think that The
top crop win amount to little or nothing
OF course, should frost stay off Tor month
or more there might be something made
bat II our spinner friends are depending on
this for any part Of their supplies we would
think Just now that they are pinning their
faith to extremely poor chances. The fact
is We fully believe. and the best iniorma-
tlon we can get bears us out in It, this
crop viii be far shorter In the wind up
than many of our big cotton people are now
figuring Of course. the receipts have been
on large scale for small crop. but We
can not take this as guide TO the final
outcome, as, when We take INFO consid'ra-
tion that this crop * perhaps month
earlier than ever knoNa before, and fur
Their. when we consider the tight money
market for the past two months and the
inability on the part of farmers 10 hold
their cotton, II IL q wonder TO Us that the
entire crop has not been rushed in one
grand lump onto the market. Three weeks
ago picking was virtually over In this state
and 1t was n common thing to find farmers
who had sold a.. r. last bale while many
others had sold 50 to 80 per cont Of their
crop There has been little or no demand
for hagging and ties Cor some time past,
gins have oocn running one to two days
In the week, aud not on full time then
when We carefully oonsihc: all these thirgs
in the carly part of October, when we
ought to be right IL the horrt Of our pick
Ing. etc We think it means great deal
and just how our foreign friends ana con
sumors Of cotton IN this country "an eN
poet 10 hold prices Wher" they are ana thus
buy our short crop at these prices. we are
at loss TO know.
OF course the country Just now is COM
plotcly upse, about perhaps the greatest
political c;mIaiGn ever before known TO
this country. hui this must now soon pass
over ntu' PEOPLE must york foi a living ana
let who may be elected. We hardly think
there viii be any wnr, and We think the
sun will still rise In the east and set in the
west and car see no just reason why We
should not get better prices for our cot
ton Yours truly.
h. H. Tallcy & Co
New York. October 26,-Early English
advicos were unsatisfactory Tho move
mcnr Of cotton n, the ports was very
heavy, while the 'nr.N market hai 10
speculative support. The opening call,
iRcr,fnrc .velopad decline Of AS
points Lu'er the market rul"c dun and
very heavy; ne Ieslial wes :1e-., T. j
'v reports of firm southern markets. ana
activity and trmness in PRINT cloths ~
Fan River. The AFTERNOON market was
tame aud weak In tho absence Of outside
specu,aiiye interest ana rem wed calm.
ports. The ma rket closed quiet ana steady
Al A decline OF 5Hi2 points,
New York. October 26.-Hubbard Bros
4 co.'s cotton letter says; Tho movement
Of cotton has been too large for this mar
ket. and despite favorable adviccs from
l.ivcrpool We have declined sharply from
Tho las, quotations Our advices from
Europe show that this movement Is nc-
reptcl as pointing 10 Yield largely tn
,Yccss OF current estimates The local
cInper appears 20 be governed entirely
~ the receipts at the ports ana does not
nnk o. anN. hing nermhnnnt On nrlnns. 90