The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-02
Futures Gained Over Fifty Points
in New Orleans.
The MARKET WAS WILDLY EXCITED
fluctuations Were Frequent aud saios
E"ofm 'us-sous,on Spoa Fourth
Of Cent Higher.
Office Of The Post.
Houston TNhnadnx lartaruhnr .

$3.50 ''V III 'ifaiiy u uay. Inc bear panic
was even more noticeable than during
me early August markets. Though to.
"ay's advance was not quite as large rs
That recorded on August s, yet New York
ana New Orleans futures cS,scd 50 points
V'gner Than yesterdays Email figures,
equal to n gain OF $50 hale. At one
time December touched $50 in New York.
against 745 at yesterdays oyening. or an
advance Of 10 points from Mondays low
est.
/ Tho market today surprised nearly
Everyone. the extent and rapidity OF the
advance even bewildering tho bulls, while
The bears were ieuic stricken from the
very opening of the market. After the
advance had gone beyond control there
were many reasons 10 ascribe for the
buil Sh'ress. very unfavorable weekly
weather report from the government bu-
reau. cables reporting spinners in need
of cotton and the anxiety OF shorts to
cover. were some OF the telcgrarhic tips
accounting for the big jump. ono of the
most poten. factors, however. was the
statement that President Lane OF the
American Cotton Growers association es-
timsted the Texas crop at 100000 bales,
As tho cotton world has been holding to
the belief that Texas still gave promise
OF 2.5OoNo bales. MIR. Lanes estimate
frightened the traders on both sides OF
The big pond. Liverpool being especially
Impressed thereby.
While many persons believe that Mr..
Lanes opinion of the Texas crop is not
worth any more consideration than
guess made by any other man. 1t Is In
a.. ,,.lra NO no
sequence If the Tex5s crop should he
only 2oco.cO bales. In ls9i-a5 this State
raised A third Of the United States crop,
Should the coming crop he as small as
predicted by Mr. Lane and should It he
he some per cent q the entire yield.
tle United States would only produce
6 900 600 bales 1t is known. however that
tho crop in other sections Of the coNon
bot averages better than that of Texas
this year. and the yield Of the outside
STATES Is estimated at $1,000" to e'e'6oo)
bales, which would san make the total
crop only 100000 10 Sooo.c"
There Is growing belief In u United
States crop of s.c0eo bales maximum
and many specule tors contend that any
unusual activity IN business fov the next
eight or nine months would reduce the
worlds . ock Of cotton to the smallest
NC 80. 49,. on
,,,,t.h t,a a,,r,nc
- -. 49, ,,n-,,,,ir,, ,b. p,
.'.,.,,,. ,.,a,h "a co,ts
and very likely 70 beyond H.
While tho hears have been playing los
.,,,h ,,s, thev sian
'"e ,,'. .o,,t,. :, ~.
,.., .,,at,s,. ,asa,.. ,ava,ce aud
W .-',-,,ia - .,,st,,,
'''eNs ~ 49, ,,'. 49,, .,a,r ,do,s
- .'.,..,,,>,, ,bo st,tr-
NfV' a., a.. ,,,t ,h,, Ar,ri.
W -, s,,,,,r.r. ara resorfiny
~" ""u
,.,, ha,,cr demand was reportcd
- go, ,od,v md n,iddlln.r ;hat
,.as oecor,d a, 7i.o In Houston Yesterday
-, 49,. =, ho,,,h, ,oda, for loss than
,,s So, n,,o.a,,o,s we,e
W, WON'T and Savun.
W. t1.,.,on Now orleans
ia" w.
The inauguration OF the advance In tho
American markets today was due 10 the
sr.urth of Liv,Nv,I futures, which
,, -, ca, ,, ao,,,l u, a ,y,dn Of obout
'ioscu iS-o'h up 'f""' w. N''' D.,
~ American points. Spots were ADVANCED
s-ssd IN ,urh sales We're only 7o0o bales.
-, vi, ,,,,ures oner.d firm with Oc-
Nc" '"'h A.,
tcbcr quoted at no Early III INC uay
tho market began cavorting ,ere ana
-, 49,, 4, seeued "a ~ sale. were
'He'e' a"' " &C., ,,,,o.
each time. Telegraph operators were
rushed to receive the rapidly changing
o,,otn'ions and the cotton exchatge
blackboards were mop N0'o'7u "N' 80
uIes by noon October mad ADVANCED 10
rn and n, 2:2O a sale was recorded AZ
49,, ,ig,ra ~ tho dav. Than
sl6' the h'shts' 49,, t.oa =,
the price dropped 10 eo' ou' e'oae' At
t!nWSl2, against Hu-l "oS YESTERDAY ~
, IN, h,. moo, ,ho,, adys,,.oa "a
: % Yesterday
Wv ~. n,io.ns oc,oh,r onencI with
!" ~" ,,a La,,
ended. pecembar was the most active
80. -. ard af,or on,,,,ing a,
month. however anu "l'er opc"'"s AT
753 sold down 10 40 then advanced to