The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-06-23
COTTON MARKET REVIEW.
Busiaess Mas Dali aad Fluctsstlon
Were Marrow.
CROP ACCOUNTS CLOSELY WATCHED,
Drouth Reports From Texss Are Not Re
tisvsd ~ the Heaes--farmsss Say
Rain Ia Needed.
office Of The Post.

Offcc Of The Post
Houston, Monday, June u.
II was a very duh and embarrassing
and business small at all points. Liverpool
futures wcrc 1-cGtM3-6id lower. though
apots were unchauecd Futures at Now
Orleans opcacd at decline. but closed
with tho distant months ranging from
Saturdays final figures to ! point higher.
New York futures opened nj u small loss
and closed to s points below Saturdays
quotations Galveston and Savannah spots
Lost ! Sc and Houston l-16c
Taking II atl IN all. the day was bear
one. though both Sides seemed TO have
jcmpcd upon fence There was no ant
nation. the outside trade furnishing little
or no support one way or the other. New
York shorts claim that thcir advices FROM
all over tho South are very hear.sh. al
though the .lrouth In Texas has not been
| broken. They profess to believe that these
drouth reports have been exaggerated
and point In tho fact that no ectuai dam
age TO the Gotten plant has been noted.
On dhe other hard. the bulls claim that
the present prices for cotton are based
urcn belief In a banner crop ncxt year.
and that any adverse news now would
lead to sensational developments. The
short selling has been upon an enormous
| SCI, 10 and the market Is consequently IN
condition for IA rapid advance upon the
first crop scarc. This scare. the bulls AS
scrt will como II rain does not fall In
many parts OF Texas very soon. They
admi, that no serious damage has yet oc-
Cured. but claim that evry dry and hot
day from now on will count against the
plant.
AT todays sessions New York futures
opcrcd steady at u decline of 3 to 6 points.
There was partial recovery on the Sec
ond call. and the closing was b points
lower than Saturday. August opened at
7.25. advanced to 1884 hy noon. then re-
acted and closed at 7.SanI.3a October sold
at GA for the lowest, advanced to G.Sl. AMI
closed at 67tM6.77.
August at New Orleans opened at TIT.
| rold at 6.7i by 1916 u. m, but closed at
6.67m669 against 6.6ou6,7o Saturday. octo-
Der sold mt 6.43 for the lowest ind 6.4I
highest. closing at 6.45u6.46.
a private letter to Cargill 4 Richardson.
dated San Antonio. Texas. juno u. says:
"Tbe condition OF the crop could hardly
10 better from Houston here. The stands
are good. the plants are strong and
healthy. the fields arc free from grass en-
summer girl In u white Dress
), Chpp 8 CO. Of New ri York say IN t he
lo6 bales and oarala about three months.
ordinary consumption, and is about 5000
sSss larger ' ss sss lpiy / 1871 Il ,nsm de-
bales. In lsse 4 decreased from S,ssa,bOl
July to a,6l0,n9S hales September I. II.
1872 the decrease the. same time was from
..e29,330 TO a,2277h9 bales. In 1871 from
WAS S,o52.927, and has decreased over 10000
bales per week to ,a.3S2 100 bales. The
July to sertembe e VI was i iss.lG bales. and
for 1892 same time WAS l22,s76 bales; In
ses sos a;si bales in 1884, gls,b7s bales. and
mn supplies OF manufactured cotiuns
were never larger and prices never lower
ported at ia Cents per- ' y"rd en-" The price
Is now 2 7-is cents. Wooden goods are at
ne lowest prices ever known. and sup
l'o ndod woolens. the average price OF WOOL
being only re per pound. Stocks OF manu-
of cotton goods s sdw srg fams
of compared with year ago. bombay
ana Alexandria receipts Of cotton tins sea-
son aggregate over 3.00c0o0 bales of 800
pounds oacn.
New York. June o. In tho dry goods
bicachcd goods was followed by an IN
creased demand for goods. The gales dur
ing Friday aud Saturday and up To noon
nav" aggregated large sum. In several
cases the announcement was made that
,hs tickets should he sold out and 4, pro-
hihitive reduction was made. Other
staple goods are quiet. Ducks and wills
are without feature. Brown shnetings I'M
steady and not obtaihablc in some lines,
notably goods 1T for export. Coarse
coiored coitons are not displaying note
worthy variation In any way. Print cloths
were quoted dun NJ 2 7-i6.
Now York. june 22.--Hubbnrd Bros. g.
Coz cotton letter: The temper of the
market IL TO regard all poor crop accounts
M1il, dnrust. as tho trade generally be-
licvcs crop reports 70 point 10 n very largo
Yield. MISUNDERSTANDING tho approach OF
riruod dry weather IN Texas Some sell
ing for Europeans brought about some
concessions from the higheRt price Of ths
hny. bu' the market closed steady with
the indications ~ AN Improvement iomor-
row mn!csD the needed rains fall in Texas,
Now York. Juno 22.--'rhc cotton market
opened steady nj u decline Of 2at7 points.
ruled Irregular. but closed stendy at n
net decline of Sane points on summer
months and iM3 points on new crop pros
poets II wns expected this morning in
vew OF the better cnblcs that the market
mere would open higher and especially as
the news from Texas Indicated unbrokcn
drouth. Bnf the early weakness of the
STOCK market caused something Of n col |
lapse resulting In the declinc. There was
much liquidation during the afternoon
ana n nervous feeling prevailed at the
close.