The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-15
COTTON MARKET REVIEW.
There Mas Little Buying Power to
Keep Up Prices.
A FEATURE or LIVERPOOL FUTURES
Disco uniting Prices on All tho Future
Months NO encouragement to
Hoiders OF Cotton.
Office of Tho Post,
Houston, Tuesday, January n

Office of Tho Post,
Houston. Tuesday, January n
The market was dun and fcatureiess to-
day. The lack OF buying power to sus-
tain prices was very noticeable and with
the aggressive hammoring OF New York
bears caused weakness that n better
OF foreign affairs could not thrust aside
Port receipts and tho interior movement
woro comparatively heavy and gave fur
Their announcement to tho bears In
addition 10 this the bear side OF tho house
In working the next crop prospect for all
1t Is worth. They are using all arguments
possible to show that tho acreage will be
largely Increased and are predicting a
crop OF from 100000 to 100000 bales.
All this In having tendency TO frighton
buyers aud many of them refuse to touch
the distant months
A remarkable feature OF the market Just
at this time is tho discount on tho far
months at Liverpool. Despite the fact
that tho bulls swear by u crop OF 1000 900
bales maximum. aud predict completes
exhaustion of the worlds supply by Sep
tcmbor 1. Liverpool futurca became lower
the further on tho delivery month Jan
uary contracts were quoted today at
t.2S.9d, MarchApril AsG. Juno-July AZ
2td, AuEistSoptomhc t,gy, while October
November drops TO Asa. This is also IN
tho face OF n premium on the far months
IN the American markets. Now York ti-
lures advance steddny from January
until August, the latter month being ~
pDlnta higher thnn the FIRST. In other
words, tho Liverpool buyers are offering
no ENCOURAGEMENT whatever To holders Of
cotton and If the present policy Is pur-
sued II VIII be- far morn profitable to sell
cotton In that market for immediate de-
livery than for delivery one, TWO three
or six months from now.
Another feature Of the market that the
bears were pointing to with great pleas
IRE today Is that while the dcnclt In the
United states port receipts 90 date ~
/, So s27 halos. yet the port stocks show u
deficit OF only aSSlS bales ma compared
with last year.
New York futures opened steady, with
March AMI April contracts | point up.
After this there was a steady decline Rnd
b points lower thnn yesterday. Towards
tho close there was very slight gain ot
few months. and the last call lrft tho
markets TO points of. March contracts
sold u, S.02 for the highest md 7si low
est
New orleans futures opened easy. TO
points on. aud closed quiet and etcndy
Q To points lower thnn yesterday. May
contracts sold at 7a5 early Ia the session.
but dropped to 7a. closing at $780,
against 1919 yesterday.
Liverpool srots were unchanged, but
only 5000 bales sold Houston. New York,
Now orleans and Galvcuton all lowered
spot prices 1-lGc,
The following from the Calcutta Price
Current Of December IL gives somc inter
eating statistics on the early cotton crop
In Bengal for 1895:
There are, generally speaking, two cot
ton crops IN these provinces, viz. the
carly rrop, which ~ Hown during tho
monsoon rains and harvested during the
cold weather by the cnd Of bccomhcr'
and the late crop. which ~ usually hown
at tho close of the rainy season ana hnr-
vested during tho hot weather IN May
and June The total area this year aown
| with the early cotton crop In these prov
| iucca npp.ars to bc pipn acres. The cor
responding area for the previous year was
| % 600 acres. Tho present estimated acre
| age lis nearly per cent less thnn thnt
| of Inst year The decrease Is noiic"nbln
chiefly i'm purt aud singbhum and Is re-
| poried 20 he due IN Puri 10 excessive rain
| and in Sfebhum to insufficient rain.
| Two out OF tho nftoen dlstrirtn from
which returns have been received, VIZ,
| tho Chi ingong liiil Tracts and AhguI
| and tho khondma.s, report an aVerage
cron Of 10 nnnas; seven, Mldnapore. Iai-
| uniuurI. Cu,lnOk. iialnHore, IiaAarihngh'
| Nnnbhum, glnphhum, report crops vary
ing from II 10 IL Hnnas, ana tho rrnhH-
| ing six districts report crops varying
| from 10 II nnnas. st,
The ,riibmaiical mean of the anna esti-
| mates OF out-turn returned by dibilci
| officers reckouod with reference to ntpnh,
| stvos ,iG annns or about thte"-ionfihH
~ an average crop foe these provinces ~
n whole against TO- annhH oallhlhieu ~
tho crop Of last year.
Now York. January l.--iiubbar1 Eros.
& IN - cotton letter says; The il,hih 'a
| on.uod win saAos Of March NJ s.u5ps '"''
"a of,or selling at 7.9t. ruled at T.s' NJ
4 n IN The feature of the situhUoh ''""s
| has been the comparative increase ~
ceiDta al Interior towns oV" ms "' ~.
| with little losa in stock 10 oht''
! r,rsiuta Mt the ports. THIS knowledge
Zoe a. ANYTHING Intensified the dullness
yyl,lch neryades the cotton trade whlie tne
| forrl,n simmer and the domestic pro-
| dlcoT are nj variance regarding tho future
| rotlold, for prices. The planter hoids
that tho supply Of the wcrld ia so limited
| ,hls af,son that he viii be able to dictate
| ,orma vet az 10 tho price whlch we
srirner may may. The latter, on the o'her
| hand nointN 10 India ana Egypt aH eoun-
| tries from which nc con get any amount
| Of cation which may DE necessary az reih-
tlvc,y lower prices. In Liverpool the iHl-
| I'M, off IN tho demgud from Lancashire
| SINNERS is not an encouraging factor IN
mo situation as viewed from day TO day
isut tho main factor aBHlhn, ~ ""Fa,'''
ia Tho inter apathy Of speculation or out
aid, deina nd for cotton. No now feature
appeared IN the afternoon. The traders
49, uru,iuine 10 be short over night ana