The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-06-14
COTTON MARKET REVIEW.
Quiet and Steady Tone With Better
Feeling Generally.
RuMORs OF ANOTHER AUGUST CORNER
Causing the shor'a to Exhibit Canton.
big Decrease In tho Worlds
Visible supply.
Office Of The Post.
Houston, SATURDAY,, June a.

l
Houston. Saturday. June IS.
| There were no unusual features In the
cotton situation today, and the markets
showed a lamb-ilSe quietness although Il
very steady tone was maintained. l.iv-
erpoo futures were Mower as expected
but the decline only amounted to ia-5id on
the summer months and i-6iiMli, -Gid on
the now crop deliveries. New York ana
New Orleans were down at one time, bu,
closed at an advance.
| Trading is OH a conservative basis at
this time. and the gains that have been
made within the last few DAYS have heen
due TO the natural strength of the stalls
teal position and belief that the recent
continuous and extended break may have
over discounted favorable orcp conditions.
leaving the market subject to q sharp re-
action on any adverse news from the cot
ton belt, There is undoubtedly a very
large short interest throughout the cour-
try, and there Is general belief among
traders that prices will hardly go much
lower fer some time to come. Rumors of
another August corner N New York are
also rife, ana brokers are advising eau
ton.
As expected, the Chronicles figures
showed an Immense reduction In the
worlds visible supply during the pasr
week. The decrease amounted 10 49,. ooo
hdis 5. leaving the supply at this date
23sa.lod bnlcs. against 3.55i755 at this time
last year. This reduction IN the supply
makes the 'otal deficit l.l7,6ie. as com
pared with 1876 aud S55,i59, as compared
with 1885
Al ,Cday's session New York futures
Vpenei quiet at II decline OF 3 10 points
lhis loss Was soon recovered, and the
closing was ] to points higher than yes
tor'oy. August orcncd at 80 advanced to
40 ly lo.'9- then dropped lack TO 7.27, hut
closed at l.3eN7sl, against 7.2Sa72e ycsler-
day. October Sold at D.G9 tor ti.. lowest
and closed AT 6hSa6.cn
New orb ans futures opened quiet and
steady at d,..iile of = to 3 points, bu; CLOS a
10 points higher than y.st,rAy. An-
gust contracts Were points IA, at lhe
e.sSe selling at c.6S for the lowest ana
o.1n highest.
The $40, markets were generally quiet
ani steady " IN no change IN quotations.
sales were Light aud shipments large.
Price. Mccormick * co. of New York.
in their weekly review of cotton dated
Jne II. have This /, say of the bureaus
fsrorl and its effect on prices:
I' l'HnIt mas not h''U 10 ,ucct as
much of =, decline In nricl 5, AS might have
,,....
"a ~, 'a'tpr oi tne ifi'or'. lier' ,ne mar
~ u, .iiN'i IL" w i" lo'h!s, "i' III i-'N
Vttopi me lower ranSr OF Values 'slap-
lShei IS about as nnch. Inc acton OF
'he ndrk"i would Indicate 10 the probes
si"nal observer tive existence Of II very
large snort interest aud an lndiSpoSiiion on
ihe pa.t 81 sl"culatois to lnrihcr discount
the wciGht OF crop as young rs Inc
present ono. Meantime The result of the
d-oliu" has been to en- lgmuusly stimulate
purchasers of cotton by slinneis N lIurore
Dniy sales in Liverpool nave reached II ,ool
bales, ami their continuance upon this
stock of cotton remaining over from this
season.
IN -'in'i'ra s,,'cG.t,lom IS m,torN PRS
cond tons prcyai,,nr ma th, doi,ht folt
ev,r ywhcrc Us to whcthcr w. snail b.
sno, i.la n wo,iS ,,n,i5,,,i,'' i,,
would ifi,,astionaliy Gnd ~ is snhiect,vs
nm atir,,,.ti,,a n,,i,lH m a',,or ~ rr.s,n,
nt,i,,ae Il, H.. s,,,,,',t, .lIi,,,t Mr.,
Is moi nli'.n 10 be- s,'J yhose n,onintnt
somr ro,f or iiye Vs., ae9 IN men man
h pTdS, ar, n's,'", t 10 ~ HE