The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-31
COTTON MARKET REVIEW.
Liycrpool's Strength Is Encouraaina
to the Bulls.
FUTURES HIGHER IN ALL MARKETS
New York and New Orleans showed Very
Little Strength. Owing To tho Walt
Ing Attitude Of Spectators.
onice OF the Post,


Houston, Thursday January 50.
Tho strength OF the Livcrpoo, cotton
market is very encouraging to the bulls.
Futures advanced s-6id there yesterday.
and today tho near months closed hfi
l's-64d up, despite the decline on this side
yesterday. Tho fall months were lsl2-e.d
on, however. but spots were i-s2d up.
Liverpool spots also advanced i-S2d yes
terday. Spot sales there have amounted
to 5000 bales during the pas, four days.
This shows good demand from the Man
chester and Lancashire spnncrs, md
proves that their "blue" reports OF uu-
propitious trade do not proven, them frem
purchasing spot supplies, even when the
future months arc so heavily discounted.
The American future markets advanced
To-Day, hut the gain was not at all equal
10 Livcrpoors advance this morning and
yesterday. II was tho Same old story OF
no speculative demand with which the
market has been afflicted for 80 many
weeks 1t seems that there ARE very few
speculators who care to invest Just at
this time. This waiting attitude ia bccom-
ing very monotonous. but the bulls are
quite confident that those who are now
holding OF to see how the market will
Jump nre soon to find that prices have
jumped clear out OF their reach.
New York futures opened quiet and
firm, TO points M. This gain was soon
lost and on tho second call the market
was barely stuady with prices about the
same ~ at yesterdays close. There waa
another rally during the afternoon ard
tho closing today lett tho near months
10 : points up. while the fall months
We're only point higher than yesterday
New orleans futures opened steady, l
to points up and closed TO points
higher than yesterday on the months of
the present season, while September was
. points on. and October. November and
December point UP,
New York spots closed dun and UNI
changed Tho Southern spot markets wero
quiet and steady, with no change In quo
tatons. Sales were somewhat larger than
heretofore this week.
In their circular letter OF yesterday
Gilbert Co. of New Orleans say; '"rhc
new crop months arc showing consider
able weakness, owing TO tho new rule OF
our exchange, which permits the delivery
of cotton on contract at railroad dcpots
AMI requires a remuneration of 20 cents
per bale compressing to the dcllvercr. This
rule VIII 40 Into effect July |, lNld and
viii facilitate transactions OF this char
acter TO considerable extent" The fact
that compressed cotton can be delivered
from the railroad depots. or wharvcs and
landings. It being no longer compulsory
TO have tho cotton put into press, IL IA very
important change IN the New Orleans
rules and regulations
Tho New York Tribune OF January N
saYs: "Thorc arc many sound reasons FOR
believing that the weekly reductions In
the visible supply viii be much heavier
from now on than they wcrc last year
which averaged $1,000 bales II week for
thirty weeks. Last year the recorl-h roak-
inE crop kept pouring into sight I'm aston
ishlnR volume The weekly decreases In
tho visible supply wore small IN conac-
quonce until the season was far advanced
Such IL not likely to bo the caae this
year. There Is no record breaking crop
this season The receipts are running
only one-halr as large "a last yenr Tho
| invisible stocks OF the mills must be low.
for tho spinnurs have stuhhornly rcmnined
out OF the market ana have bought M 10
date 22NuN bales less In the open mar
lSot FOR the first Ave months Of the season
than last year, The mill stocks held In
Europe are always more or less pnnIoc-
tural. But tho known statistics show that
exports from America TO Europe Rave
been 100000 bales less than last year to
date, while tho visible stocks abroad md
anoat therefor have decreased only I 600 q.
on bales The spinncrp must have drawn
tho difference OF 500 600 bales from their
invisible stocks. Under these conditions
II Ia not likely that those foreign splnners
VIII want any less cotton from now on
than they wanted last year The natural
inference IL that they viii want II worsc
II they come In to buy. the price will
rise. IL they do not buy more heavily
and do not shut up tholr mills. tho great
est experts on cotton in the world predict
md the figures week by week confirm
thcm-a practical exhaustion Of por,
stocks in European impossible alternn-
tive. American available supplies arc a0 .
no less than last year, and holders in
no hurry 20 sell.
New York, January n. Especial THE
feature OF this market most prominent to-
day and for several days. hrs been selling
OF new crop months, II r. notable that
when an Inquiry IS made ns 10 the source
| from whence such orders come the South
is offered as the ecapogoat. but Il would
not hc easy, We think, II such Information
could hc obtained. 10 md many In the cot
ton belt who have 30 little faith IN better
prices next season as 20 be willing TO sell
against next years production II they