The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-19
COTTON MARKET REVIEW.
Heavy Offerings Of Spot Cotton Ia
the South.
ONE REASON FOR THE DECLINE.
a s,oadier Feeling Developed In Naw
sOricaus Futures-Ltv~rpaol Cioaed
Lowcr-Spot Quotations.
ofaee of Tho Post.


Cotton was bare Of SENSATION again to-
day, though trading was rather animated
at times and fluctua,cd more frequent
than heretofore this week Liverpool fu-
lures responded TO the weakness on this
side yesterday and closed i-6iif4,s-6,d or
The American markets were unfavorably
influenced all tho forenoon, and r'ices
were & to . points below yesterdays close
at ono time During the afternoon the
market gave evidence OF considerable
strength. and regalned she entire loss at
New Orleans. closing practically at last
nights figures. New York closed to
points lower than yesterday.
The general feeling IL that the lower
range of values this week has been the
result of narrow, ovcr-bousht market
and its consequent, liquidation. Aded by
the pressure OF heavy receipts al tho
ports and interior towns. spot cotton has
been offered freely throughout She South
Tor the past three days. and as a general
ching could I've bought a shade below quo
;ations. According 10 adyccs r,'och ed by
cNrgill & Richardson this morning, etrct
to good middlng sold at 3-i6c iolow New
orleans quotations. {. o. b. basis. The
posted decline IN that market ,his after
and nominany UNCHANGED. New York and
Saw nnah were Ne lower,
Secretary nestcr's figures Of tho weekly
movement shows that 81. 900 bales came
into sight against lgN000 has, year and
10, 900 for the corresponding Woek In iS,i
That the movement this week should he
more than double that of the correspond
ms seven days OF isgi. the biz crop year.
L.
trade. 1t is quite noticeable. however.
that while stocks at United states ports
and interior towns are rapidly lnrret slug.
the amount of American cotton at Liver
pool decreased 5000 bales during the past
week. and the total held there now ~ lcss
than one third OF tho amount on this date
last year. Evidently the foreign spinuors
are la need of cotton. and IT Is a question
how much longer they can stay out Of the
market in the hope of buying the staple
1T lower prices.
AT todays session New York futures
opcned weak, with sos BID for December,
Ny noon the market waa bIrrl! stcldy
III slight advance and shortly before
the close December sold 1t ~. thorRh
closing At SIieS.lS. against S.l7uS.ls yes
t,idUy,
In New prlcAns December opened at
5.ls, sold down to 1.'G. but closed at ..A
al. N,-ihC same az iast nghtN hnal liz
urcs. October sold ~ 1.G2 Tor the lowest,
and clo0ed az ,bSui6 ~. against 1.tydii,i0
yesterday.
The following ~ an extract from a pr-
vate letter received by Cargll n Rich-
ardson from, MN York. dated September
H.
The tendency here IL towards higher
| pTccsi based upon nnfavorAbic crop out
! look. Large receipts. ,arng"nt money ana
the gcnetaiy uniaN0rabie condition OF bus-
/ lnesH may for "A time Keep Bficus down,
| but II half the crop stories ace true. u
I VIII he very tight race this season be
tween consumption ana production Tor
| The outlook seems to point utbhgly TO a
| scarcity of the bales. In Saying this, |
| am figuring on "a crop OF h,j0, M bales.
which IL not yet assured.
Tho following table shows the stocks OF
American cotton held at seven Of the
principal markets OF the world today.
TINS day last week and for the corresponds
ing dnto In 1895: