The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-08
COTTON MARKET REVIEW.
January Cotton Sold at Seven Cents
in New Orleans.
THE SOUTH IS SELLING HEAVILY.
Liverpool Appears Rullish Despite
the Declining Tendency on This
sidc-Thc Present outlook.
Office OF The Post.
Houston. Monday. Decenher z.

| During the last few days kilograms from
| New York have Indicated that the pro-
| verbally bullish South is beginning to
switch around to the bear side. having
! be come Disguised with the sagging dispo-
stion and declining tendency of the mar
ket. Hubbard Bros. & Co. wired today
South principal sellers Europe buying
especially continent" AS the South gen
orally manages to take the wrong side of
the market. this may mean the end of the
bearish campaign. IF the Sotith's selling
becomes a little more pronounced. and the
big traders in New York and Liverpool
take the bull side. II will hardly be pos
sIbe to prevent the advance that Is due"
said a conservative trader today
Liverpool has certainly presented a very
steady front during the last few days.
Despite the feeble support given the hull
side in the American market Saturday.
Liverpool future. were higher this morn
ing, and closed ait Saturdays figures. Spots
recovered the loss of 1-32d reported at the
last session. and business was again very
good sales amounting to Il. 900 bales. New
York and New Orleans futures opened
firm and higher advancing or 6 points,
but closed slightly lower than Saturday.
Port receipts were $1,000 bales today.
which Is considered a leht movement,
being 1900 bales less than on the same
day last week, and only 1000 bales in ey-
cess of the corresponding date last year.
The Interior movement was rather larger
than expected. however. while expedited
rcceipts at New Orleans and Houston to-
morrow We're likewise too large for bull
ish comfort.
AT toaay's session New York futures
opened with TIE active month about
points up. January started AT 1855 sold
at 7i0 for the highest, but shortly after
neon could be bought for 7.2s. Towards
tho close a Slight reaction occurred, final
figures bciag 7.33d7.34, against 7S+Ii7. S5
Saturday. March sold at 7.57 early in the
session. dropped to 7.4s during the day
and closed at 7l:Q7.49.
In New Orleans January went as high
as ia immediately after the first call but
struck the ceiling at that price. BY l2:i7
cotton for January delivery was sold at
cents-tho lowest price of the season.
From this point the market advanced TO
7.O7 and closed a, 7.o5a7o6. against 7O9G
40 saturday. March advanced to 7.29
early in the session, dropped no III and
closed at 721n722.
The American spot market showed only
a few changes. New Orleans closed 1-l6c
lower, while Savannah advanced Lice
Edwin Violet OF New Orleans writes.
TO make 100000 crop We Will have to
repeA the movement of lS9l-s2, when the
crop was 100000 TINS. to US. is wholly
improbnhle. This month we will not equal
the movement OF the seven and n half
milton" crop, but viii be decidedly small
cr Bear arguments, which We're appica-
be TO an earlier period. when prices We're
sharply higher, and the crop outlook
brighter do not apply to existing condi-
TONS; thCy can be often repeated. and
while thcy may fool some OF the people
some of the TIME, they can no; fool al
OF the people all The time We are stu
of the opinion that cowon is reasonable
property and hat purchases at about
these prices Will pay handsomely.
The following is from the last market
letter sent out by Hugh f. McElroy of
New Orleans. y considerable short IN
terest has been created during the past
lew days, and il has nearly always bccn
the rtic ithat a new short interest launch-
cline is forced to ,over at higher level
and for that reason we believe in a re
erNt'y from the present depression over
and aboV. that however we ice, that the
county Will refuse TO offer at current
prices and IN tie absence ut "A disposition
on the part of Interior holders to unload.
thcte Will be no pressure uron the market.
ana II VIII be free to advance Whenever
receipts fail TO come M TO predictions
tou,on now coming into sight may prove
10 be only the accumu.auons ginued up
( duinp the spell OF bad weather After
/ These shall have been worked on, then
/ iht re may be decided decrease in re-
ctipts our market ciosel three 10 four
points higher. While spo;s remained I'M
| ehanEed' with 524es on 1900 bales.
Cotton Points.