The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-01
COTTON STILL ADVANCING.
Twenty-Five Points We're Gained
Yesterday.
SEVENTY POINTS ABOVE THE LOWEST
December Cotton Has GaIned Nearly -Four
Doiiars . BaIc ia New Orlssns.
Bears Routed.
ofhce OF The Post,

OIflCe OF Inc GOtt,
Houston. Friday. July 81.
II was another bad day for tina bears.
The bulish movement has not exhausted
itself by - or 20 points. and the bruins
Nave agaAn extended their limit for the
reaction TO set In. The expectation OF
an unfavorable opening at Liverpool
proved TO be the wrong Wow OF the mar
ket. Futures in the foreign market closed
iis-Gidnais-6 cid up on the summer months,
while the distant Positions were S-6idp
S,s-6id higher than yesterday. Spots adj
vanced l-3sd. with sales Cd 5000 bales re-
ported.
Continued reports OF drouth m North
louisiana Mississippi. Arkansas and
some parts of Texas. ruled the market
today. The bulls say the cotton crop 10
going TO pieces. and that any estimate
OF yield OF over s.5co.Nn bales is nos
warranted by present conditions. with
the small supply now available and the
poor outlook for the new crop, they con-
tend that cotton ought to reach the prices
prevailing last faQ, Wae the bears
have been stun~$ by the rapid adj
vance, they are stall hoding their belief
In crop equal TO that OF 1894. They
say that the next bureau report vii show
good as that OF June.
The advance on the fall nion,hs at New
York today was % points, and about the
| Aau,s at New Orleans. a noticeable
| feature OF tho Now York market was the
| iessening of the premium or, August con
| tracts. AT last nights close August was
10 points higher thnn September. today
tho difference is only 80 points. In other
| ,t.fs Am ada fN In.
day while September gained % points. 1t
| is thought the two months will he brought
even closer together wathin the next day
or so. aud THAT 1t will be az the expense
OF August
At today's session August In New York
opened at IT'S. sold down TO 69s but
quickly reacted and closed n, 7.laN72i.
October sold at $50 on tho opening, 6.73
| on the noon call. and closed a.; O.63IG.eO,
against G63 yesterday.
New Orleans futures opeund firm. with
6.7 bid for August. On the second call
$50 was hid and the closing was at 672.
December opened at Gas, dropped to GIL.
but soon began rapid advance. which
eliminated at 667. The CLOSING was at
663 asked. against 6.36 yesterday.
Since last Saturday August deliveries
In New York have gained Sl points and
October % points. In Now Orleans Au-
gust has advanced 10 points from Satur-
days close. and December about the
same amount. on July 10 August cotton
sold In New York at SCI. Now the price
$ TO a gain of 53 points. October in New
York has advanced from 6.la TO 600. or n
gain OF II points. Just fifteen days ago
December cotton sold I'M Nsfw Orleans
) for b.g0 hut today's close the same month
could not be bought for less than 66s
The American spot markets were nearly
all quite active today though no ad-
vance was recorded at New York Hous-
ton and Galveston advanced l-l6c, and
New orleans and Memphis %c.
New York July 1.-The Commercial and
Financial Chronicle says;
our telegraphic advices from the South
this evening indicate that the tempefa-
ture has been very high and that very
little rain has fallen the past week. In
the Southwest weather has been dry al
most everywhere. and In Arkansas ana
Tennessee cotton is said to have de'oror-
ated considerably as n result Of the
drouth.
Some districts along the gulf repor1
damage from shedding. Picking Is In
progress in many sections and Will be
| general very soon
New York, July 3l.-The weather being
favorable. a moderate number Of buyers
of dry goods with the local represent
| ativet # out of town buyers and irregular
demand abroad that took a quantity of
goods. In the general feeling as 10 the
on all SIDES az to the promising OF good
results with the opening OF August
Printing cloths quiet at 7-l6.
COTTON POINTS.
Tho Liverpool cotton exchange VIII DO
closed until next Wednesday.
Hereafter Houstons spot quotations
VIII be made at 2:30 y. m reShiariy' anu
| AT noon on Saturdays.
December cotton sold In New Orleans
today 1915 bale higher than the lowest
price ruling about the middle OF July.
| A telegram from +. Cargill. dated Waco,
says: Crop conditions along Katy line
good, but needing rain badly.
The Posts correspondents are begin
| ming to send In dronth reports, ANA Sew
erai sections complain OF young cotton
diving and old cotton shedding.
Vaught & Kennedy wired CaIgil q
Richardson today. "DrOuth unabatedi ex-
tending TO North Texas; anvtsc eau'ioh'
rain would cause heavy break
Kirg Of New York advised cargili n
Richardson this morning: Crop accounts
generally favorable. Drouth dong harm
IN MiasissipTa Louisiana and Arkansas.
Unless Hain soon. expect higher prices"