The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-02-21
COTTON MARKET REVIEW,
Futures and Spots Were Higher and
Steadier.
LIVERPOOL STARTED THE ADVANCE.
Tho Underiying Sentiment II sim Hear
fsh, and the improvement May
Not Re Permanent.
Office Of The Post.

Houston. Thursday, February 20
The expected reaction came this morning,
spots and futures advancing In all mar
kets. Liverpool gave the markets a good
tone. futures opening very steady and
higher and closing 3-6id above yesterdays
prices. Spot sales also showed an i'm
proved demand. purchases at Liverpool
amounting to 1900 bales. against 5000
every day heretofore this week.
While everything had a s,cady appear
ance In tho American markets today.
tho underlying sentiment IL undoubtedly
stu bcarish and conservative operators
do not think a permanent Improvement
possible just AT this time. Many shorts
covered today, which helped to keep prices
at the advance. bu; having thus protected
themselves they viii leave the market
to take care OF itself. AS the bulls arc
not yet able to create the needed specula-
two demand, ii Is quito propabo that
prices may fall back again. Port re-
cepts were heavy today. and large
movement is also expected tomorrow
Receipts at Houston show very light
movement. however. and the local senu-
ment IL rather bulllsh. There IN little
or no spot cotton now offered for sale
ut this point. and some of the largest
factors haven't bale on hand. The
same condition exists at Galveston. Re,
coipts at that port were only 9sN bales
today while shipments were si59 There
Is undoubtedly only II small supply OF
cotton left IN this state. and II port
receipts are large from now ON tho move
meht VIII be helped very litil" by Texas.
Many believe that port receipts hereafter
VIII he az the expense OF stocks at In
terror towns to great extent
New York futures opcuud urn 20
points up. There was n further advances
on the second cali and the closiug was
10 tn If points higher than yesterday.
New orleans futures opened barely steady.
but closed with n steady tono ut an adj
vance of to points.
The American spot markets showed in
creased sales and a steady tone ut nearly
all points. Houston was iNc higher, While
Galveston. New orleans. Nj .mphls and
Savannah closed at Lice advance
H. X. Richardson. who has just returned
from visit To- New orleans. states that
the sentiment AZ that Point was rather
bullish yesterday as everything seemed
to favor a reaction from the recent low
prices. Heretofore. however, the Now
orleans operators have been bcariSh. only
ono or two OF the leading bulls holding
ont against the weakness of ihn mark Ct
for the past month or SO They generally
believed that the statistical position was
hulliHh. hn owinE TO the lack or sprSulh-
tive interest ana okhrt lufuthHfN WORK
ing against the market, did not see any
chance for "a permanent Improvement
New York February 21.-Notton turned
a sharp corner today on decidedly more
favorable Liv 'rpool accounts sales of spot
cotton working w frCm NJ0 - l2'0p halrs
In a market With private cables proinir-
ing more help from English HplnurrA 70
tine near future. II wax also reporter
that large American importing mousse
identified with the bear side account Tor
several months was tho leading buyer
IN the Liverpool market today Todaya
advance has been practically round or
the shorts.
Now York. February 20. Hubbard Bros.
q cos cotton letter says. During the
day buying by brokers continued and to-
gcthcr with the buying by local oper-
ator closed the market steady AZ tho
host prices 81 the day SO far this move
ment scens confined 20 the local traders.
who are uSiug the strong statis,icni post
tlon 20 advance priccH Tho trade looks
for q better market IN Liverpool tnmor-
row ms an answer to the activity SHOWN
In our own market, May closed 71b last
year $50. steady.