The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-24
COTTON MARKET REVIEW.
Futures Advanced Ten Points at New
York and New Orleans.
THINGS HAVE TAKEN A BETTER TURN
SO tho Bulls Contend. But the Bsars Say
Il 10 Only . Temporary
Reaction.
Once OF The Post,
Houston, Thursday, January ..

Houston. Thursday. January ..
The parsimonious. but sensible and
wealthy Hetty Green Is reported TO fol-
low this policy In real estate purchases:
When everybody is buying. sell: when
everybody is selling buy" The few stub
born and hard-headed bulls left around
the Houston Cotton Exchange. after the
lengthy bear siege OF the market, have
recently been advising their friends to
follow the same plan In regard to the
cotton market When every ono is on
the bear side. they say 1t Is time to be-
come n bull; In other words. when the
great majority of spectators have be-
come shorts take the long side.
For nearly two months the cotton mar
ket has been weighed down by various
war rumors and every class OF political
and financial trouble that the world is
heir to. Something seemed to happen In
faVor OF the bears every day. The statis-
teal position Of cotton was given little
thought. Everything was made to have
bearish look, and an immense short in-
terest has recently become very promi-
nent.
During the last few days some of the
bulls have contendcd that 1t was time
Tor things to take u turn" And things
nave turned TO a certain extent Futures
closed today 20 points higher than at the
beginning OF the week, while spots have
ADVANCED 5-lbc durilg the past three days
rms gain is attributed TO the natural
strength of the position, a rapidly decrcas-
ihs movement and u more hopeful political
outlook throughout the world Whether.
ul,,.
pears say 1t VIII not and predict an Inn
mediate reaction. The bulls believe that
the Improvement Is based upon substantial
grounds and will be maintained
New York futures opened 1 to points
up. The advance continued TO gain head
way as the day progressed ana the clos
ing was iirm, about ten points higher than
Yesterday. March contracts closed at
Soa-l0 and May at Sl6-is.
New Orleans futures opened steady Q
TO points up, and closed 2 to II points
higher than yesterday May contracts
sold AT 7.eS Mt the opening and closed at
sos
lANerpooi FUTURES opened about the same
as yesterdays close. but soon showed nm
Improvement and closed lalls-6id up.
Al the Southern spot markets showed
a better tone and prices were marked M
l-l6e Mt houston, Galveston, New Orleans
and Memphis
Further advices In regard TO the circular
OF Ellison 4 Co., issued Tuesday, show
That they estimate weekly cnnsumnttor
past month in Great Britain $1,000 ON
continent 10000. English spinners' m,r
Plus stock, lat instant. estimated at III
eOl' continental spnuers' surplus stock. fst
instant estimated at 10000. against ~
200 and Bl2 OuD Last year respectively. 81
lison's basis 7,00000. distribution T 100 0oo
America takes 100000 Canada. Moxico
ana Japan 10000. leaving Europe .3so no0
Total Increase Whole season, India 400 600
Egyptian crop 5.25O.0o0 cantars Est,mated
stocks September 80. mills 800. 600; ports,
$40 900. ''"'
New York. January 2s-(snecial, Tho
Improvement today was due To growing
sentiment in favor OF the market because
OF tho rapid reduction IN tho movement.
which seems to he uniform compared
with last year. At ports and interior
points tho scale of decrease ia marked
enough to indicate thar It's continuance
viii make crop estimate of 675O.0OO bales
more popular than they have been since
last autumn. withstandiug we'll uu-
thcnlicatod reports OF considerable stocks
at some points IN the South, the move
mcnt to the large weekly reported interior
places as wei as TO ports Will have to he
faster than now. otherwise the market
Will become sceptical as to the extent of
these invisible supplies. good deal OF
speculative short interest still remains,
and with continuance OF this better feel
ing sellers viii naturally become fewer
and, therefore, buying to cover or for
long accounts, should more easily cstab
lish advances. as we have seen during
the past few days
An idea IL growing. too, that people In
the South still holding are In a position to
do 30. and Ellison's figures to January ].
which We're known In principal points In
the South yesterday, gave additional
reasons for expecting better prices.
Atwood Violet " Co.
Now York, January 23.-Hubbard Bros.
g. Co.'s cotton letter says Locally, the
market opened at slight advance ind
slowly improved. to lose the greater part
of the improvement on report from
Washington that another anti-option bill
would be introduced In the senate today
The temper OF the trade ~ against the
market on account Of speculation. but
the movement OF the crop Is exceedingly
light and may at any time bring ABOUT "A
change of sentiment in the trade Inc
improvement Of the Southern market
alarmed the trade this afternoon ana
this market closed firm at the best prices
of the day,
No,v York. January q. Tho cotton mar
ket opened higher and showed more hclS,
ity on advance Of futures at LlVerponi
and Increased activity of spot COTTON ~
Tie InriiSh market. Later an easy reel
Ing prevailed ON indications Of free Week
ly movement for tomorrow ana iorecaat,
Of very large receipts at Little ROCK ana
Mont geometry. Later the market ralntn on
stt ong private cables and a firm sout.erm
spot market. The close was tir'' Ut u"
ADVANCE of to 10 points.
COTTON POINTS.
II. r. Richardson was advised that the
BOMBAY receipts we're N0Oo for he week.
against Al, 600 In 1895 and 1900 In lssi; STRIP
vents oooo against 1000 and $4,000 the two
previous years.
Houston expects 1000 to 300 bales tomor-
row. against CATS last year. The ettt-
mate at New Orleans Is for 1000 TO 5000,
against 1882.
Gilbert & Co of New Orleans advined #.
CareilI at 9:25 a. M. Gables say political
outlook more favorable; our market has
t.tft l1fnfi Tan