The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-02-04
COTTON MARKET REVIEW.
Another Slight Advance In Liver
pool Futures.
AMERICAN MARKETS WERE LOWER.
The weakness On This side Caused ny
the Lack Of Investing Demand.
Spots Lower.
Office OF The Post.
houston. Monday. Eebrunry Z.

WIS hfTning. FUTURES closing l-Ctd up. bot
the American markets again failed to re-
srcnd. The weakness en- this side can be
attributed TO nothing but the lack OF in
vest'ns demand. This market has been
without snap and animation for 30 long
time that spectators seem afraid TO pur
chsse future deliveries OF tho staple while
me bulls are continually furnishing ns-
orcs tc show why prices arc bound I,
ADVANCE. aud though many of the Leading
statisticians think the position OF cotton
Is very strong. 1t seems very difficult
matter to start another bull campaign.
MANY OF tho most conservative operators
admit however. that better prices are now
Justified and that whenever the market
does advance 1t viii be repetition OF the
present wheat campaign
New York futures opened quiet and
firm, TO 3 points up. on the second
call the advance averaged only point
and during the afternoon there was n
further decline, the market closing quiet
ana steady, to points lower than sat
urday
AZ New Orleans futures were I TO 3
points mp at the opening, but soon took n
points lower than Saturdays prices for
this seasons future deliveries, but with
october, November and December UNI
changed
Liverpool SPOTS woro quiet and UNI
changed with sales OF 10000 bales. Tho
American spot markets. were rather dun
with decline at some points, Houston
spots were marked down iSc but these
quotations were merely nominal as no
sales were made. New Orleans closed
dun and Memphis easy, both being I-l6c
lower.
Price. Mccormick g. Co. say In their
last letter; There have been no new de-
velopmcnts during the. week. operators he
ing obliged TO content themselves with re
iterating their oft-rcpcatcd stories for and
against the situation, The clement witch
ia long of the market n higher range of
values have made strenuous Efforts
through tho medium OF the local press by
the publication OF all the known favorable
factors In tho situation to advance prices.
but they have failed to stimulate amy re-
NiNal In speculative activity or to bring
about higher range of values As We
nave stated before In these columns with
out speculation n sustained Improvement
In prices Is out of the question Efforts
To create u now bun speculation at the
tail end Of II short crop have IN the past
usually resulted IN failure and that this
scason viii prove nm exception to the rule
seems improbable and especially ia view
OF the possibility of next seasons acre
age Planters throughout the South at tho
present time are In better condition
financially than thoy have been for years
They have IN many cases futlcicnt
corn and provisions on hand to maintain
them for another season, and II docs not
scom unlikely that they win devote their
entire energies 10 the raising OF a large
crop Of cotton during the year lsDg-p1 so
far as the quantity OF cotton bonc held
back throughout the cotton belt Is con
ccrncd. member OF n prominent firm In
this city who has recently made an OK
tcnsiyc trip throughout the South In
forms ua that the holdings of planters nnc
merchants ARE larger than is generally
conceded. while this cotton Is unqucation-
ably firmly held, we are convinced that
II Will ultimately be found that this sca-
sons supply Is safe to meet all consump-
tive requirements"
In their last market report Clapp & Co.
Of New York have This TO say of cotton.
at is reported spinnors continue running
on fun time, completing old orders and nrc
booking no new ones Print cloths arc dun
at inside prices asked with practically no
bids AT Fan River for the past eight weeks.
There IL yet no signs of an Improvement
reported In sales Ivy spinners Stocks on
hand at Fail River and Providence are re-
ported to he 500 000 pieces, against 1s1, 900 u
year ago, and $40. 900 two ysarg ago, and
nothing January 70, 1898 Prices advanced
about "a per cent since last spring mud
since declined about per cent. Cotton
declined No this month ard iisc since ocio-
Der 10. when May sold at p.62. Tho bears
claim bull statistics are given out dnlly TO
bclated bull speculntors A South Caro-
lima correspondent writes MS some large
planters there are holding their crop OF
1S9i-9b and the present one for al least l2G
per pound. The plantations movement tp
date is about 30 per cent short OF last year,
and spinners' takings about 30 per cent
less Spinnnis this month have taken
about 80 per cent less, while export taklngs
are about 20 ger cent less and less than
three-fourths those In January 1893. These
Items indicate the crop Is above 100000
bales. and that 1856. DIG bales OF American
visible cotton Ia ample for all spinning
purposes on both sides the water. with
prices so per cent above those n year ago
and the demand for manufactured goods
on the continent, In England ind Amer
lea small"
New York February 3.--IIubbard Bros
u Co.'S cotton Letter rays; since the
opening, when tho Improvement OF points
was due TO tho better feeling ana the
slight advance In Liverpool. tho market
decline steadily 10 midday THIS IL at
tributablo 10 the lack OF general business
interest and to the persistent selling OF
the new crop months, 10 adviocs that re-
ccipts have been retarded by the bad
roads, and that preparations for the new |
planting ar. ON a very generous scale. |
Buyers being 10 few. traders are becoming |
wcariod at tho apathy of speculation and |
are incllning toward lower prices. while |
recognizing the strong statistical position |
50 far as this crop Is concerned. Soma |
thing more impressive than arguments |
must bo brought forward to stimulate |
prices materially. and this may come |
when the market is found oyersDld. Tho |
decline continued during the afternoon. |
May at one TINS selling at 1903. Traders, |
however. are cautious and sellers are con- |
tent with small profits, hence the stendi- |
ness, which IL not based on any specula-
tive demand.
New York Febr1iarf 3--Many visiting |
dry goods men were IN the market, and |
while they looked after many classes OF |
goods they did not prove TO be buyers. as
new engagements were for limited qunntl- |
ties. Tho order demand was fairly good, |
but wants were for assortments OF mis- |
complexion. Printing cloths |