The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-27
COTTON MARKET REVIEW.
Wednesday Loss in Futures Was
Fully Recovered.
ELLISON MADE ANOTHER ESTIMATE.
Figures Upon n Very Small supply OF
American Cotton at tho End of
the Season.
office Of The Post.

Houston, Thursday, March 20.
While the figures on tho boards were
rot increasing In value at any great rate
today. yet there was n fun recovery or
yesterdays loss and the tone was much
iirmer In all markets. One OF tho main
causes OF their Improvement was the re-
port that Ellison. the English statstician
and cotton prophet. had reduced his est
mate of tho American Visible supply ut
the end of tho season 250ooo bains. Mr. Ell
isona estimate made some time since was
| SOo 900 and this reduction would make tho
supply only 100000 bales. Should tho fig
urcs he a correct forecast. they ara err
talniy Sufficient OF Themselves to make
the shorts very careful and give the Bulls
additional cause for namta,nus a strong
opinion of the market.
Another alleged tap ~,rcd from New
| orleans stated that the market was steady
on the report of bad weather IN rsxas, AS
tho weather Is now showing It's most
pleasant face. the telegram causes eoryid-
crahlc amusement. For swo morths TeNls
had weather that in,erfcrcd with all prep
arations for cotton phnttng AMI yet the
manipulators of cor,aa nItirs refused TO
give us any credit therefor. Now that
evory thing Is bright and clear and farmers
arc beginning work again, 1t ls rather IN
| timely 10 cause an improved tone IN the
cotton market on the strength OF bad
weather In Texas.
| Tho weather H. very VI certain IN this
| state. however, and those who are making
! the next cotton crlp on paper would do
| wei to remember this fNct. Little Nr no
! cotton has been pittutcd yet una II All, lie
| ae' cral months before any fAir estimate
] of thc coming crop can H. mndo. aud even
| tHn The estimate 1!ny nave 80 10 Changed
/ nAlpXcn times
I New York futures opened qu,at Wit ,ho
active months poiat w, fhs saio was
| again The closing wus firm 20 po'n's
| higher than yes' .rdGY. hay sold at 40
f9r lhe lowest advanced to ~ ami eli ,ch
az I3NtO october opened At ;.lG, I'D
vanrod to 724 and cloHed nj 7.2l-2e.
New Orleans futures orenod steady TO
| second call and closed 70 points higher
! THAN yesterday May sold at 7. "A for tho
/ lQWest and 15S highest October opened
! at tj2 aud closed al b,Ni-NG
/ Liverpool futures were quiet ana steady
! throughout the session and closed with
some months ]f-Oid w, while others were
Nearly III the spot narhcts had n very
| steady tone and thero were few changes
! IN quotations. ssalcs were quite large III
| Nov York and New Orleans but small
elsewhere.
Mr.. II. W, Martin the local representa-
tive Of Hubbard Bros. " Co.. VIII leave
tonight for Atlanta, where he will spend
some time. and then visit the hoadauar-
| tors az lAH firm In New York MI Martin
/ Intends to return to the city next fnll
| whom the activity In cotton transactions
! hcgits again. He has made meny friends
| In Houston and elsewhere DURING hts resl-
| dencc IN Texas aud ia recognized as n
| most capable representative of one of the
! largest and best known cooton firms IN the
world.
Mir. ID, d, Cherry has been appointed
local representative of Hubbard Bros. Il
Go. of New York, due TO the departure Of
Mi. .Martn. Mr. Cherry has had consl1-
cradle experience IN the brokerage bust
ness md Is very worthy OF tho position he
| assumes. He will establish himself pcrin.i-
| pentiy as a broker and now has uuArters
IN the houston cotton Exchange.
The Montgomery tAla) correspondent OF
the Southern Trade Review writcs. a VOL
| Informed merchant OF the black bolt. when
asked hts opinion OF the cotton acreage
THIS year. saidi at will be larger than in
1893 ana probably ae large as in lSii 4
| worry low estimate of tho Increase would
| be 10 pcr cent, NV opinion, formed from
| my tnlka with farmers, IL that the in
crease VIII be about IS ner cent above the
! acreage OF last year. Tho merchants do
| mol Ike 10 sec this increase, and they ara
! doing all they can to hold the farmer back
| hnt tho farmers want to mako as much
| money as they can ana they feel that as
| long az they huNo cotton thpy can sell II,
and you Win md n great many who arc
| putting IN an extra number of plowA this
| year, The amount Of fertilizers sold hy
| The merchants this year Is unusually lhrge
| another fact which tends 10 siren, Lhrlt IN Y
| opinion that we Will sec an increase In tho
| acreage OF cotton"
| New York. March 2G.-~Hubharti Bros, e.
| cos cotton letter says; The nrnnoss
| IN the distant positions is accounted for
| ~ tho absence OF selling orders from tho
| South. The local traders we're The hest
| buyers during tho afternoon aud our mar
| Rot closed steady at "a slight concession
| from the best prices OF the day. hut
| whether the Improvement will he main
tanned depends upon the strength OF The
impression conveyed by the ono factor
mentioned tins morning. which had
Now York. March 26.--Ihe cotton mar
net advanced hlI7 points today, chiefly on
buying by tho republican contingent.
Which claims that etc action OF the South
| Dakota aud New York republican conven-
tions In declaring for sound money against
free coinage of silver on the basis of Id
10 l. means better business MI around The
German contingent. however. Is said TO
be laying low ANA ready to renew their
attack on the market should prices further
advance. Crop news reaching this point
~ as bearish as ever. with estimates OF
moro numerous. Trading was local. OK
cent for little outside buVtng Cutlsed By