The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-05-14
COTTON MARKET REVIEW.
Liverpool Futures Were Again Very
Discouraaipa.
HEAVY SELLING OF THE NEW CROP.
rig difference Betwsen rrlccs on the
summer and fAii Montha-Heavy
short Interest.

ing today being at a decline OF isre-sid.
Foreign cables also reported IA falling of
| IN the demand for spot cotton the total
sales for today and yesterday together
only amounting to 10. 900 bnlea These de-
pressing influences, t,scth,r with con.
tinucd heavy receipts of cotton at the
ports and the very favorable crop nc
counts. gave tho shorts considerable en-
covragcmcni and led to heavy selling.
Futurca wors lowered several points "a,
New York aud Now Orleans and houston
and Galveston spots were marked down
| i-lsc.
The sentiment IN regard to the new
crop positions is especially inclined to be
hcarish, and each day soes further
widening of the his difference botw zen
prices on the summer aud fall months
AZ the Close today June contracts sold
IN Nuw York ut SOD. while the quotation
for November deliveries was 7.ib. n dif-
ference OF ~ points. August closed at
s,0spS.o9 aud January at 7.iGg7.i7. Sunos
in New Orleans are 165uI GS while No
MEMBERS are 81 points ownr Fears OF
removed manipulation ot the suum "
months have undoubtedly caused hoslin-
ton IA scilng the near positions. hut th,
ulshpslipn to FELL abort inc winter months
seems unlN.iaai. ta'l deliveries have, been
| fn'd To such an extent recently that tho
snort interest must hv Exceedingly heavy.
And some runsrrNHuVo tridrfs pr,dlsi
thA' ms very iacl is quite likely to cailse
"A reaction.
AT today soFslorA New Yori, futures
"pcnoi qH@ and flrn. with very litlla
vllhnSn from yesterdays prices. ON thu.
second ea!l The summer months were to
: points III, while the fall aud winter
months wore To points on Final f.e.
nr"s w're ! TO points lower than yen
'et,iay. with an easy tone
N'w ofigans followed enc course Of
tnlcrs nj New Work nnd clo'ul TO :
points lower 'han yesterday
Houston expects 400 to 5oo ralea ,o,nor-
low, against ios on the same day last
year New orleans 1850 t. lso. against
i35l
Some lnys since The Post Published a
letter from Mrssrs II. 81 T. hoor OF New
orleans In VIII, IA statistics WIRE given to
show that there would hc million bales
of american cotton IN sight on the 3ist
OF Angns, In discussing this stntcment
the Liverpool correspondent of Tho Man
chcNer Guaraiap says
"llow much OF tnis milton hnlrs Is to
ho ia Liverpool THO Moesrs. Beer do not
cl.matr, but presumably rather more
Yam ou,-thrd OF H. Probably Messrs
tent 10 which American H. rep aring :,uratS
both here ana on the continent ot Eu
rope. Inr sa.os ui Sulrita here IN week
az. smuilcr titan They ustu 10 pr per day
within reasonable, fcuutisri}un. lEaVtpt
when the price OF American drives the
tpinner Oh 10 snIais or 10 making AInnr-
can Gotten with SuiHis, IN only buyH l}uai
lnlian cotton nov Tor 'h"so spinnings to
winch @urat cotton Is specially adapt"d.
IN" same change nprrbrs also to be go
ing on nbrond, aud ii It's tar more ditficu.t
Sal! turuts there thNu fpTmFriN
tliu cast. From these circumstance II
follows that IA large stock Of Surnts may
cAtst without relieving the dcmnnd for
American to anything lake the extent
M'safs Beer expect The snme may aito
be SAID Of EEypitan VIZ, tiiai i's nse
~ gnite sp'eial. aud although some little
iiso OF II is possible for oth,r thun its
special consumption. yet sucn employ
mcn q II has rarely occurred except
" hen NO price of Egyptian Was very low
Ia cowual isOn Win American ~ the
price 81 hpFpiian ~ nov nigh relatively,
no substitution Of Egypt AN tor American
t. ai all Nkely Ia take plncc even IA those
cases wheio such substitution mght he
pgs shlr. That Mcssra, h.er have present
I'd u very interesting view Of ne tfor.ibili-
tics of the sea son can not be donhted, nor
that ihir View Of N" total ouihkc of
American by tho irndo of tn. world IA not
unions onahir Lhi9r Reserves w'te iiid
up last Hcnson by the American aud by
the continental spinner. Dnd the extent
To which ih.y VIII us" up COR hold up
thutc stocks ls omen to every opinion. The
dinM.nt matter from actual eohsnnptioil,
nud McsHrs. Ecer have kent ms clearly IN
view Tie tsi"ni 10 which they ar" iikely
10 come ont with these figures would np-
pear to depend largely ON ma prostess 81
Tho now crop Rhnuld :, be vcry favor
nh,o spiuners VIII b' dlsposcl every where
Ia Ms" MP such rr.orvt- AS they have. ON
tho contrary FuprofitiOn. VIZ. OF injury
to the crop, they wnuii hold on TO reserves
and buy for requirements. such action IN
th" one or the other caso would make a
remarkable difference IN the general posi-
ton OF stocks and visible supply ~ slft
August. II should alsp bo noted that 3lsi
August tn not the point Of our lowest |
stock In Liverpool W. hive stil! To Knt |
through September, and although cotton |
oomine o, in ,hea Y. a ne nnsrs"m por a,
help our stock here untl later In the ycar. |
Moreover. the continent ~ already buy |
Ing September s'ilpmrnts rather largely. |
sci Less cotton shipped IN September to
ths market Than Is now generally sup
p",d u r. r. fag du,,s possible con ,na, hs
neW scnpon bare OF supplies, and IN such
en- 50 some heavy buying mny cnsily oc-
eur at tho very opening of the new sea
soH.
New York, May i3.-Hubbard Bros, Il
Co.'s cotton letter says: our market seems
without change IN fhc diverse factors
which for some time past have been main
tanning the value of the remainder of the
rrop and depressing the now crop deliy"r-
les. The premium ON This crop has WIDEN
ed to about IA cent pound over tho prices
with which tho splnncrs can obtain sup
lilies for next senson aud fhis fact. coupled
with the poor market for their products
naturally reduces their present demand
10 the smallest possible proportions, Rains
hive fallen IN Texas where needed and
show ers ARE indicated for the South Al
allc States, IN fact this crop II obtain
ny the best sturi for many seasons. The
market closed barely STEADY at hhe lowest
prices OF the day Trade is expecting "a
over Liverpool market In tho morning
as result OF the largest receipts and
.asy market
New York, May I3.-The cotton market
advanced SEQ points. but lost the i'm
and closed easy al net de-
slime of AS points. The market was very
weak in the afternoon and broke sharply.
Weak longs became anxious and sold
rcely Selling orders from the South were
Ilso quite numerous on fine crop condi-
ions. a repor, that freight room had
made no impression. The larger