The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-02
COTTON MARKET REVIEW.
Futures Closed Lower 10 the Amer
lean Markets.
SPOT PRICES ARE VERY STEADY
Average Higher Than DO Coh'r"c's'
The Noyrmcnt VIII Govern the
Price,-Manchestcr Favorable
Office of The Post.
Houston, Tuesday. December l.

Uphill one day and down the next mas
been tho course of the future markets
since last Thursday. and as a result prices
have made no real improvement for over
n week. In the meantime spot values are
firmly held, and recent advances are NAM
tanned In nearly all Southern markets
| The tone at Houston, New Orleans ana
Galveston was steady today, with very
good sales recorded.
| Liverpool futures were 3-6id up at one
time today, and closed 2-6iiu21a-6id higher
| than Yesterday. Spots were advanced
i-32d The American speculative markets
opened firm and higher, but soon eased
oil, closing to points lower than yes
terday.
There was very little In the teegraphic
advices to explain the decline. except the
| belief by the trade that the decrease III
the movement will bo only temporary
| and likely to be followed by much heavier
receipts later on. The movement at ports
was Increased today by unexpected clear
ancos at New York and Texas CITY. but
| even with this addition, the total was
| II. 600 bales less than on last Tuesday.
and only 5000 bales greater thaf on 'he
| CORE spending date last year. New Ut
leans had very light receipts today acd
expects II small movement tomorrow.
Hubbard Bros of New York telesraphed
this morning that unless receipts increased
Liverpool would become an active buyer
1t is quite cvllcat that the movement OIL
cotton is being watched closely just at
this time, and will determine the future
course OF the market TO large extent
The feeling in favor OF cotton Is lhcreas-
ing, and IL receipts show the expected
decrease values will very likely Improve.
At tolay's session New York futures
opened firm. with ia bid for January.
Tine highest sale was at I.tS, and from
this point the price declined steadily. SELL
Ing down to 1.d before the close. flnai
figures were 7.55u756. against 7.6v1i6l yes
terday. March sold q. 7S2 shortly after
the opening, but dropped to 100 by 2:S2,
closing at 1.7opIu.
In New orleans January opened at 1850
739, sold at 73l ON the second call, then
dropped to rs and closed at 22Sap''g.
against 7,33q7.3i yesterday March sold
at 75i for the highest and IA lowest.
closing at 7.lig7.i5.
Edwin II. Violet of New orleans says in
his market letter of November 80:
Some time ago We called attention 10
the weakness OF thc contract position, ana
'Al'lSrl against purchases as Ihc pit-
fuiums Mere TOO much IN excess OF spot
prices. the condition now Is entirely re-
vorscd. as w.ll be seen by the following
ngufcS. January contracts october -, IaO,
IA .idlinc cotton that day. III; January
contracts then, compared with spots, 10
points higher. today January closed at
,.35H7A. while spots are quoted AT n5S--
January contrac compared wlth spots
lower THIS makes net gain oil about
= 90 ner b1le to the operator VINO Soid
cont rdcts against spots.
While this business was to some extent
restricted by the monetary sIrmgency.
sun enough of ii was done to innuence
the movement TO the ports. Now, as spor
cotton has appreciated in value. and con-
tracts deprecated, as money Is abundant
and cheap while Il short time ago IT was
scarce and high. a. confidence Is now the
not ,hesc'altered conditions lend tone and
strength 10 prices. one thing is qute
certain. and Tim, Is, that all untavorabie
clements have been worn threadbare by
frequent repetition, and some OF the I'M
possible lul improbable possibilities are
still being cited ~ facts. which viii sim
further affect prices
should a material shortage occur in the
crop movement. 1t VIII naturally be at
irhui"l to the recent severe weather
white this. OF course, will operate 10 re-
lard shipments, its influence will hardly
are that we have likely reached n de-
MendinT scale, and that tho ncavy move
ncnt of the first two months has depleted
th' sources OF supply. The known interior
stocks are now only 2300D in excess OF
last year, and thoy must he In a measure
therefore. Ia meet the expectations or
those who look for n 5000 0OO bale crop
planters holdings would have to te error
nous