The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-18
Sixteen Points Lost During the
Week.
A HEAVY LOAD FOR SPOT HOLDERS
They Are Fighting Hard. But Have . Big
Combination Against Thsm-Liver-
pool Futures Advanced.
Office Of the Post.

ivNtF thdu Ut the close OF last week. Nearly
every day during the week has seen few
points loss. While the total is not very
heavy 1t is Sufficient 10 make the bulls feel
as II they were losing valuable ground.
Futures in New Orleans are now &c lower
than at the beginning Of the month. while
at New York the loss has been about 80
points The spot markets do not show as
great decline. however. and give evil
dence that the Southern spot holders are
fighting every inch CT the ground. They
are carrying heavy load, and have big
combination against them, hut may como
Oft ahead yet.
Liverpool futures closed today at ar adj
vance Of to 2lE points. which was gen
orally taken as respt nse to the gain on
this side yesterday. The American mar
kets failed to follow up their stand, how
ever. and closed at slight decline. The
amount In sight for the week was only
200 more than during the corresponding
time in 1898. and could hardly have been
considered bear!sh feature. The port
stocks also showed quite a decrease today.
though receipts were very heavy. Taking 1t
altogether the features were about evenly
divided. but the many hard knocks re-
ceived by the bulls recently gave them
no encouragement to take an aggressive
stand, consequently prices dropped OF
their own weight.
New York futures opened steady, to 2
points Off, and closed about points lower
than yesterday. The decline was a gradual
one, and showed very little huctuaton dur
ing the day. March sold at 7.a6 for the
highest and $50 lowest
New Orleans futures opened easy with
the far months to 3 points off. There
was very little change on the second call,
and the closing was points lower than
yesterday. The highest point reached by
May contracts was 1.9i, and the lowest
7s5
Liverpool spots wcre unchanged. with
sules If 1900 bales. The leading home
markets also continued Yesterdays spot
Prices. with a quiet and steady tone. Sales
we're rather light.
recent issue Of the New York Tribune
contained the following comforting facts
fur the bulls;
Tho general disposition is to compare
this season with that OF S93. 1t is PORTED
out that while the visible supply IS 25S, 72t
bales below that year. now when the
w. s,,,,, 80 - l''5 80 ,Vaete,'
80 -, 49, ,,,,,t va. 1871 1917 ny
% p' w 1 ,'.,I7 81 ,'Ic iu'' VI o.'VV
4, ZOO !" nv, ,..ome 'iloIv '','h
~ as ~. iN'', ne hau'hester s,rikc DC
Consumption In Great Britain fell during
that long period from 5000 bales weekly,
ss,,,s LINUS ~' ~ 70 "Vvo oales' OF
Ui, ~ --'v'o "tc5, VI -" po"hus'
~ w. .',' ~, N''o9' VI o0V iouHps each'
- ~ ~ ~ 'i9c III 'ne Eui opeah con
90 nnd ~ mas "V,'aseu .nis "i'isrehce 10
, ,.. 80 ~ "c'N' as S'a'eu what the
. Nv. i''a' in America mas been
,n1 ~ ~ WI no' re Known accurately
W. ny eha VI 'he COTTON year. nut That
WI ny We "s'shhchnt may be sur
,'HVi tloiai VIC Known iact that no less
,'at s'Nrn'y-'hree cotton niiis nave been
Ou'll IN V"IS country thls year. rms takes
u" account OF me addltlons and Improve
heH's 10 ola mis- In many instances ex-
IchlclS larse ana important. In the
SCUM alone me estimate of new spind!es
~ operation thls year Is placed by the
MhhuiacturerS Record at iOOo,on.
yet WIN ms shortage of 253I2i bales In
the visible supply, with n crop estimated
ny Henry NJ NeNl Undoubtedly the fore
'i"7t t''p '9'l'i"'oi III AmcrlCaD nj SVV.VO
oalos less than the yield Of 1872 and With
consumption nearly or fully 5000 bales
a week more than II wa, at this time In
ls9'i, the price or spot cotton is actually
ls-32d cheaper IN Liverpool and OLD cents
cheaper In New York than II was In 1893
AT this time. In this last paragraph the
ouil argument Is fairly stated.
There Is nothing advanced by tho bears
to offset this except talk Of big crop
next year. Cotton picked In October can
not be spun In September. Unless figures
lie. the realization OF Mr.. Neill's predic-
tion of an absolute exhaustion of Europ-
can port stocks on October next, IL
consumption Is unchecked. looked more
plausible than ever In view of the
Chronicles showing yesterday. The Europ-
can spinners have taken in round num-
hers 600 bales less than last year OF
American cotton. To that extent, with the
addition of $4,000 bales less on hand at
Liverpool and anoat therefor than Mt
this time last year. has their reserve held
abroad been trenched upon. 1t Will no
eight months before they will get any
cotton from next years crop. Notwith-
standing this enormous falling off in the
takiugs Of European spinners, and de-
crease In ta,inGs by Northern spinners of
4lG, 900 bales from last year the available