The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-03
COTTON MARKET REVIEW.
The War Scare Caused Decline
In Futures.
PRICES ARE NOW AT THE LOWEST.
A sharp Reaction May ne Expected Al
Any Timc-Heview By Atwood
Violet 4 Go.
ofnce of The Post.


For the NTH time this year King Cotton
has come In contact with war scare, and
upon every previous occasion has been
given II hackset In consequences Tho re-
mote possibility of n conflict between tho
United States ana Spain was tho cxpiana-
ton of the bad break today. Liverpool
presented us with decline of iibI5-Cid
;his morning and the American markets
closed at q corresponding tumble.
With tho exception OF the war aspect
there was really very little In the situa
ton to cause today's weakness. Port re-
ceipts were only 1854 bales, against 2l.2si
on the same day last year. The interior
movement was rather LARGE Mt few
towns. though Houston had even less than
expected. ana not cne-half Of the amount
reported on the corresponding date last
year. Expectations arc for very light re-
cciris at New orleans and Houston tomor-
row. both port and interior stocks showed
a considerable decrease today, and there
was very good export record
New York futures opened easy. about
points oft. This decline was continued
throughout the session, aud the closing
was quiet and steady. 10 % Is points below
Saturdays figures
New Orleana futures opened easy. I TO 10
points off, ami closed u 70 IS points lower
than saturday. May sold at 7.8l on the
| opening call, bu, fnal figures We're nj 12i-
- New York and New Orlenns are now
mai, tanning their proper rarity, the two
markets being Is 10 20 points apart mt to-
| days session.
Liverpool spots were i-aad lower, with
sales Of 10000 bales. There were no mar
If Texas Gndercnd' noe Day. New York
aud New Orleans closed At lac decline
! G. II. Lucy said today: "rhe rcscnt con
| ditcu of the market ~ more likely 20 cause
| a 'squcc2c' than anything else that could
happon Prices have been on the down
| grade FOR the past two months. With
| hardly a slvElc rally. Every one seems
| sick and dishcartcucd. n htarsh hue has
ovorsprold tho market. mud there seems &c
| hN no NE anywhere, There n unduuh
odly "A lnrrc short interest throughout thA
country and Europe. An conditions are ia
| Norahle for few men to pGrchnpe large
| quantities OF cotton for NAV or Juue de
| livery Lot receipts fall on 10 very mo-
ucoahlc cxtcni for a week or So. start the
report that the holdcrs OF these coutrncte
win drmnfnh the actual cotton and then
SEQ whore prices viii 40. Under ouch n
state of affairs 1t wouldn't he at all sur
| rrisiup to have prices on the summer
months forced up ? cents, while the od-
vance ON now cron deliveries might not
be moro thun half n cont"
Atwood Violet & co. write from New
| YORK; under date of February 2A;
"1'he weekly consumption of Europe, of
all kinds. according to Ellison, ia 49, oo
bales of 100 pounds each, and that Of the
United Sintes, Mexico aud CANADA, csil-
mated h0,000 per week. Of about ~ pnun'i',
OF which Southern consumption Ia l9M0.
4 conservative estimate, based upon what
was ia sight ON tho LIST instant. OF the
worlds visible supply, and to come Into
sight 10y September l, next. viii show what
must provide for about 200.0o0 bales, week.
ly consumption of $50 pounds to the bale.
The sunplv Of all iinis which we estimate
ut about G.35o.G0o would provide for con-
sumption for thlrlN-ono weeks from Feb
ruary 10 August 81, 1890 or 4 200, o1o bales,
hut aa This would mean within lfO,0on hulos
Of an entire exhaustion Of the worlds
SUPPLY ut every visible point IN this coun~
try and EUROPE little more attention
should be given to what is In prospect, nm
less II can be prevented by dccidcd cur
tnimont Of consumption, of which there
Is mo prospect. except, perhaps, IA tho
New ENGLAND States to some extent. We
have assumed the current crop 10 hr 7,Vn 70
001 bnlca whereas We eXpeot lcss. Tho
worlds visible supply of all Kinds on sep
temhcr I. 1895, was 2,2Nihia in 1877 19l3,6sS,
In 1898 2l5i. 53s and In 1852. ?bh.,pdh II
| 900 900 bales only ha the world'E visible
on September l. 1896. should he held on
that date. ngnlrst figures mentioned above,
showing nm average FOR the four years OF
2,23h 1S2. n would leave available Tor tho
worlj's mills h.161,1o9 bales to supply thirty
ono weoks' consumption, ending September
LIST next at 200, 600 bales weekly, this would
| 1 # Dppf tl,ssra mn INN a.
ton Now as Liverpool alone held on Sep.
tcmhor T. tsDb. ,09i 900 and sJy 900 md oOh-
000 and LIZA. 600 for the three previous ycnrs
| respectively, what would be the position Of
the contract markets at Liverpool. Havre
| New York and Now orleans, and what
| would be the supply Mt the remaining cot
ton ports and interior points IN this coun-
try M well MS such places as Bremen
| Hamburg and other important ccntcrs IN
| Europe Ellison made European mill
| stocks on the 1s, irstnnt $4,000 bales. of
400 -unda each. ngainst $4,000 last wear,
same GATE. Therefore, no announcement
! comes from that direction. What the mar
kcts may do viii depend much upon the
scale Of receipts. "a well ms spot demand
by Europe and America fer the worlds
visible supply, nt the moment. and wiat
| may como into sight IN The next SIX
months. What may have deterrent ef-
| feet, however. greater than HAS already
l tNthlifi HilEitl flNulNllA ~ "a '''i'Nfi lilNT
ton Of reports Of proposed large Increase
IN acreago and fertilizers. THIS character
of information has. principally. cansed the
decline OF the pas, few weeks"
New Orleans. March 2.-Secretary Hes
tcr's NrN Orleans cotton exchange state
! ment. ISSUED today, covers the monthly
movement 10 the close Of February. Com
pared with last ycnr II shows loss for
the month In round figures of 7l,Dyp bales,
with year before last o gain OF 100 and
with 1893 a gain Of 5000 The total for
February was IN ,j59. against T2 W. last
year, 3G2. 436 year before last ana AS, 1875 In
1893 The decrease In the amount or crop
| brought into sight for the six months from
| September to February inclusive was
253i DiG under last year. 5Gi, 06s under year
| before last while an excess " shown of
IN i94 over 1s82 The movement from the
first OF September TO the close Of February
II eludcs total receipts AZ all United States
delivery ports OF t.i6i53l. against 6.S2s. ly2
last year. 8 1876. SIG the year before and
| 2s,S y5G same time in 1893, net overland
movement by railroad across the Missis-
sippi. Ohio ana Potomac rivers, 66l. OH,
against sss 800 last year 63N3 year before
last and 10 $50 same time I'm 1893; Southern
mill taltings. exclusive OF quantity con-
sumed AT Southern outporta b72 sol. against
100 m hat aftH