The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-13
COTTON MARKET REVIEW.
Liverpool Futures Were Higher and
Spots Lower.
WORLDS VISIBLE SUPPLY FIGURES.
Deficit as Compared with the same
Time Last Yenr-BulIish Letter
from New Orlcans-POints.
WORLDS VISIBLE SUPPLY FIGURES

Office of The Post.


side futures closed at further decline,
New York losing 3 to points and New
orleans 20 points. Liverpool continues
to hold up her end of the line. but the
upward tendency of prices abroad does
not seem to have much influence. Yester-
day Liverpool futures were due to decline
about 7-6id in response to the big break
on this side Thursday. hut that market
closed only iia-G4d TO 5-Gid off. This morn
ing it was expected that the continued
weakness on this side would certainly in
iiuence the foreigners. but on the con-
trary, Liverpool futures closed 1-Gi9NlL-
Cid up. Spots showed Il decline of 1-32d
but spot sales were very large for
Saturday session. the total being 10000
bales.
The excess in the worlds visible supply.
as compared with last year, which was
noted last week, was wiped out this week,
and there is now a deficit of 1914 bales.
Another bullish feature, which seemed to
have no effect upon traders. was the large
export business done today. Cle1rances
for Great Britain at United States ports
were 3i.6i2 bales. against 1881 last year.
and for the continent 2l.ST. against 1894.
Today's exports We're therefore 600 bales
In excess of the same day last year. The
fact than port re ,eipts We're 1900 bales
greater. however. appeared to have more
influence upon prices although 1t was
quite noticeable that port stocks were
duced q, 900 bales today.
A telegram from Hubbard Bros. stated
that Ellison. the English authority. had
Increased his figures of the estimated Eu-
ropean consumption 200 bales per week
and that he estimated stocks 100000 less
than last year
At todays session New York futures
opened steady. with 7.03 bid for January.
From this the market advanced to 7.07
then dropped to 7.02. and closed at 1899
7oi. against 7.O7a70s yesterday. March
sold at 7.23 early in the session. fell to
lis. and closed az 7.19d72o.
New Orleans futures opened steady, with
prices about points off. January fiuc-
tuated between 6.75 and SIC for quite a
while. then dropped to 6.73. closing at
c7Sa6H, against 6,7sq679 yesterday. March
sold at SOS for the highest and $50 low
est. closing at 6.o0aG9l.
The American spot markets were quiet
and steady, with only "a few changes. Gal
weston lowered prices 1-1Gc. and Savan-
nah advanced Lie.
noted AT Liverpool recently, the following
letter from Edwin Il. Violet of New Or
leans is very timely:
New Orleans, December 12.-Some little
while ago we called attention to the COM
p&rative value of cotton in this marl1e t
and Liverpool. also TO the fact that
frcights We're abnormally high and ster-
ling relatively low. Since then We have
Freight S-tl1 chaaf,..r nd ~,
l'a points dearer still Ire unusual dispar-
ity between the two markets continue.
The situation presents the strange ano-
maly OF The producer, or rather those in
close proximity to him, fighting the evil
dent inclination of the foreign consumer
to establish a higher level OF values. We
are much below the usual parity with
Liverpool, and the condition must adjust
Itself. either by a decline in thll market
OF improved prices on this side as We
have ALREADY experienced a heavy deci ne
POSITIVE cause, II ~ but reasonable to ex-
pec% natural reaction on winch would
| quickly develop INTO aCtivity under any
Stimulating influence.
ihe movemont this week shows 1885, 0Ot
nrousmt INTO SIGHT, against $4,000 for The
| 'NpuVO crop OF 1888. We are now eU5 pll
| na.as ahead of the movement of that
! year, OF which 1880 bales appeared III
the phenomenal month OF September; IN
! ttla'i NbIiS, our gam tnu5 lar over tne
$4,000 crop is oniy 9l,0.J bales. eXcmsiv,
oil tnut montn. The coming week We run
| against 3,z,uvO bales for 1898. The fan DRY
| goods demand was restr. cted by political
! uncertainties ana disturbed finances and
| the CONSUMERS ability TO pay was ma.
| teilally curtd.led BY the depression which
| characterized all branches OF trade. Ihest
conditions no longer exist and the sprluu
| outlook is decidedly cncouraglng esue.
cialy when we consider the depleted stock
| IN 1obDers hands and the necessities OF
| tho people, which must be staDpiicd in tn,
near future. Inc dIA.nciinAtiCn 10 sci
| coMoh Is becoming more pronounced ant
| with any Strengthening feature we Woult
| probably have the cooperation OF thos,
| who nave heretofore thought unfavorabn
OF me mafhel. We can imagine no new
! factor of depression and the silua tior
| Challenges the pessllnistic brain to nam,
one that Is not hoDry with age and staI,
by repetition.
New York, December 1.-THE cottof
market opened quiet and about steady a
loss of ln4 points Following this frs
call The market further declined l4iS point,
ana atter recovering most of The los
3Sdlh turned weak closing quiet at a no
, He.ilne or 5ni pulIts, HE early new
IGN Eufone was better than looked Tor
but ldler cables were unsatiSfal tory. m,
movement | the ports exceeded cXpecl,
non aud mere was little or no outsll,
sperulatiVe support. private wires 10 Ia,
! SCUM were unsatisfactory
sou.herh news was less favorable Ioca
sohtlmen. Was conserVatively hearish. m,
ii!dTks Was a small one IN all respects
New York, December le-Hubbard Eros
Co.'S cotton letter says. A quiet ,nar.
Ret closed a week of liquidation and III,
trade continues TO feel the effects of the
dlsappointment at thu action of the uur
Ret n lace Of the sualler movement OF iii
| crop " va
Cotton Points.
| y Is estimated that Houston win recsiv
| $3.50 TO 55O0o bales this week. at.ains
iSs last week and 50,cc0 last yeir.
Houston expects II 000 to I2o1D hall.
| MONDAY, against 6Nr5 on the sunne IA,
| laSi year; New orleans BOA 10 II I'M
against li,736. ''''''
a New York telegram to Cargill 4 Rich
| efuson THIS afternoon said: III recen1
decrease narke. viii improve; otherwfs
II lower" anu SCI
s99n1dheim OF New York advised Cargil
hlcnardSon this morning: Small r1Sr
krt, little doing, orders either Wslv VII
influence prices. Liverpool bought som
at opening ''"'