The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-10-21
COTTON MARKET REVIEW.
Slight Gains in New York and New
Orleans Futures.
FLUCTUATIONS ARE VERY NARROW
Prices Are Now Practically where They
We're Two Weeks Aro-Onerings
~ spot Cotton.
Office Of The Post.
Houston. TMnkdnN Ortnhrr %

Houston. Tuesday. October 20.
The man who deals In paper cotton 10
finding the present mark very uusatis- |
factory. Prices are now practically whore |
they were two weeks ago and IN that time |
there hasn't been sufficient fluctuations to |
make or lose contract Yesterday there
WAS a sudden show of activity early In the
session. which soon subsidized and TODAY the -,
chalk marks were nearly all alike. the !
fluctuations being within a range of six
points. Liverpool only lost i4-Gld of YES
terday's advance on futures but that mar
ket needs TO make a further gain In order
to be on parity with New York. Liverpool
spots closed 1-S2d lower
New York and New Orleans futures were
very steady during the day. though tho
trading was light Quotations were 4 to
4 points higher than yesterday on the
close. The fact that the market has man
aged to maintain prices. even at the low
point, for such long stretch. and In the
face Of heavy receipts and a poor demand,
is considered by many a very favorable
feature. There is no doubt that the great
majority Of SPECTATORS are confident ot
higher prices later on but Il this confidence
results in an ovcrhought market 1t may
be difficult to lit cotton from the present
rut. When heavy long intcrcs, is OPP
posed to a short side that is controlled by
few long headed spectators. 1t Is fire.
quently the few who come out ahead
At today's session New York futures
opened steady. with the near months
slightly lower, December sold at us Just
after the opening. advanced 10 7Si during
the day, and closed Mt 7.S2a7S3 against
77aa7So yesterday. January sold at 80
for the lowest, advanced to 80 and closed
at 7g4
In New Orleans December's lowest was
| 80 a point reached several times during
the session. The highest prices were
reached abou, the close, the final sale being
at 7as, against 7.i207.43 yesterday Janu-
AIRY nuctuatod between 5df759. closing
at 7.57n '.5S. or points higher than las,
nights final figures.
Tho lending American spo, markets ruled
quiet aud steady at unchanged figures
| Edwin Il. Violet OF New Orleans is
rather bearish in his views Of the cotton
market at this time and expresses himself
as follows in letter dated October ~;
| oar advices from the. country are to the
erect that heavy movement IL expected
! from now on. especially after this week.
/ The most marked depressing feature IN the
| continued free offering Of spots from all
points. which at times are almost unsafe
able, excepting at concessions, and IN cases
where they can not be disposed of futures
are readily sold against same which adds
to the weakness Accepting today as an
example Spots closed fen. at unchanged
prices with sales of $500 bales; to arrive
2iO0. This represents the largest sales Of
foctod This season, and the largest buyers,
In this instance are parties who had sold
futures In advance. and are retaining cot
ton to deliver on contracts which they will
do when II suits their interest This will
oct as constant threat and will be used
TO their advantage when notice day arrives.
Whether they will carry out their purpose
or not viii depend upon the position Of the
market AT the time.
Re,eItng to orr circular letter of the
! It'll instant in which We made mention OF
freight and exchange differences. as com
pared with the past wear We find now no
material change in the situation. The nd
vance In freight and the decline In sterling.
as shown bv reference to the correspond
| ing period last season. aggregates about
60 or % points per contract OF 100 balos
! This operates seriously against spot value,
as both are important factors In fixing
trices As we near the election the disin-
clnation to operate will become more
marked and il may be that the tendency
will be to a lower level, until We shall have
passed that trade disturbing period
New York october 20 Hubbard Bros.
Il cos cotton letter: our weather tcrv-
Ice iml.cates another co8i wave, extending
into Arkansas tomorrow morning ana tclc-
grams have been received from North
CarolinA and South caro-. nit reporting
frost last II ght. but the effect has been
oily 10 su.ullr prices at Slight advance
over yt.icrity. Throughout tie Sputh-
! west H. ny haf bcron.c quit" hcir-
ish on III high oct an irr.ehtS ana Hgui
! movement OF cotton Tho iratulH ot the
ruoon was thr ,ution If a. few
| mviug orders for continental account,
Which closed the market at the best price
OF the iay.
Now York. october 2O.-The early cable
! from English cotton markets was MOI
/ satisfactory, and tho first call here de-
voopod a decline Of in5 points on near
months lId lH2 points on later months
Flrmor cables followed ma the market
! ilti uccl 5H7 points. the rise being as
/ sisted by better reports from Fan River
| and renewed talk of frost In the cotton
I bch. Tho market again turned easter. the
movement tending 10 onlruu estimates,
and outside speculative support falling 10
appclr. the c!ose being very steady at
net advance Of gas points.
New YORK. October 9.-Dry goods mar.
| l,ct quict; printing cloths in demand and
| Col. Va ftis at q p for