The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-18
COTTON MARKET REVIEW.
Little Agqrcssiveuess Mas Shown
on Either Side.
FUTURES CLOSED At A DECLINE
kecelpis Nauae tho Depression.
Houston spots Lower
Offlcc OF The Post.
Houston, Thursday, September IL

bIfCN OF Inc IpN,
Houston. Thursday. September II.
There was very little OF intorcs, IN cot |
ton today, and no new foaturcs developed, |
BUSINESS was on a restricted scale at all
points Liverpool f,stlres were or 81
points of early in the session, but closed
only i-6id below yesterdays final figures,
The rcovcry In the foreign market caused
an upward tendency at New York and
New orleans during the forenoon. but the
lack of demand began TO assert itself be-
fore the second call, and the closing was
at decline of to 10 points.
There seems lctio aggressivcncss on
either side of tho market just at this time.
though the prevailing sentiment Is still
IN favor OF cotton. Today's decline car
rlcd prices back to last Saturdays closing,
and many operators believe shat u rcac-
ton is now In order Others contend that
the big load Of SPOT cotton is proving too
much for the trade TO handle with such
iimi7ed demand from American and for
| cisn spinners. and they believe that prices
| with need 10 40 lower In order TO relieve
the tension
| Daily receipts are indeed enormous and
this week promlscs tcRl movement IN
the nolGhbcrhood OF $4,000. against glq,Gn
last week and 10000 last year While 1t
| Is easy to account for this movement, Ntin
| there 10 no denying the fact shat 1t Is
proving uncomfortable for the limo The
| bulls say that IN loss than u month receipts
viii be pncomfortahly small, however and
predict that spinncrs who do not load
up az the prices now prevailing viii he
rlad to pay a cent higher per pound DO
fore tho last of October.
At todays session New York futures
oponod iirm aud higher. December sold
at Ssh early in he day dropped to $50
by noon, then rapidly fell TO Sl, tho
closing bid. October sold at se3 for tho
highest and closed ut SOiuS,o5, against
Sl2nS1S yesterday.
In New Orleans December sold at SOC
early in the session. hut soon took II down.
ward ,urn Tho loWcst sale WAS at 7&
ANA the closing az i,SiGi7S5. against 793a
7M Yesterday October was quoted AZ
1NWt1m on the opening, but closed al
169u77o,
Houston and New Orleans lowered spo,
prices Mc and Memphis aud Savannah
closed i-l6c lower
Major w G.. Lewis. live stock agent for
the Sanla Fe railway, IN speaking of cot
ton prospects TO n reporter of the san
Antonio Express. said that ne Thought
after cgroinl inspection of the country
chat the agricultural bureau had over
estimated tho yield by 100000 bales. Thcii
cSuuula had ncrn 10000 bales. hut N,
was certain l.6U1Gao would he n clonei
figure. he said that 1t would on the
average take scVcn Arrcs to max" u bliS
rus he explained by saving thai th'
/ rans from which so much wah cNpegt,,
had come 100 late, aud owing TO tn
stalk having dried mp. would fail Il
reach the top crop ana make II "A big ono
u The agricultural bureau had been count
ing. he shid. on tho gop crop IN maxim
' thoir estimate and Il would disnppon
them,
New York. September lf.--liulbard Bros
q CO.'S cotton letter saysi The marko
opened with a better feeling, hut trading
I was inactive. although M times the sent
mcnt faVoring higher prices has been Hul
| ncicnty pronounced 10 intimidhtc Wouid
| he sellers. A. midday The lone was bette
ana iherr was an incorporation 10 bcliev'
ia mu h lower prices dckpltr the lnrSl
Now orleans oHtimatol of lOoJO 10 IL %
bales Tor tomorrow.
me close was barely steady At the low
|. | OFT prices OF the day under the prcs#ur
OF exporters to sell against ihcir heVumu
lntions of cotton IN the south TO-DAY lh'
only olhor reason for the d"clin" He"W
20 he That trade can not alb orD the move
ment OF tho crop.
,, Now YORK. September H-ThGre was Of
ndvanoc Of 6a9 points Ia cotton this morn
! ing, aud for Il tine the market showo'
considerable activity. The Improvement
We're due to a better class OF cables thai
hhd hcsn lo9ked for Later the mnrte
II gave way on Indication Of . FREQ move
, m.nt NJ the ports MA luNripr 'wh' !
- tho absence of speculative support.
= I.w 81 holiday deprived the market Of ~
important trading elem ard Iartlnlil