The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-02-28
COTTON MARKET REVIEW.
A Sharp Decline at Home ant
Abroad.
LIVERPOOL STARTED THE BAD BREAK
Heavy selling Tn New York Accelerated
tho Downward Movement on This
sido-spots Lpwer.
onticc OF The Post,
NoMainn ThursdnN E.ehrnarx ..

| ing everywhere, aud tho bulls were CON
| ndont that the period OF depression had
practically ended, Liverpool however,
which has been the iniinstay OF the mar
keis for some time, developed very bad
case or the "bluCs' today and closed Mt
a sharp decline In both npots and futures
Foreign cables stated that Liverpooi's
weakness was attributed 10 that tired feel
Ing occasloncd by the heavy load holders
OF cotton have been carrying recently
and the conclusion that storks there were
too large ID be handled comfortably.
Now York and New Orleans were not
so strongly lmhucd with the idea that a
reaction from tho resent dulinoss was
now due to 20 1t alone today aud when
the decline abroad was reported they Inn
mediatcly responded with IA corresponding
drop, The American markets ate sull
without lIic ana the least baarlsh inieli-
gonco causes holders to become badly
frightened. Many conservative porsons
believe that there is very little TO warrant
the pres'en, low range of cotton values.
and contend that II olc-fourth the bullish
enthusiasm displayed last fan were
brought TO bear upon the market now the
natural strength of the position would
Fort receipts were very light az COM
pared with last year. being only llAi,
against gip9, a difference OF la.li2 The
! heavy bombay receipts completely OF at
this. however. ana stailetlcs OF the India
crop AZ" not at all favorable 81 the huil
side ct the house
70 add to tho weakness on this side
chlacd by the unfaNorallt ndviccS from
livcIp rOl, MCFhddcn y lac Of New York
worn reported heavy settlers all durns
the day This caused a further duclinp.
and rs NO new buying power WA apparent
II was impossible 10 atop the downward
New York futures opened steady at
q points decline and closed u to 10 points
lower than ycstorday. New orlcnus
opened barely st.Ndy. I to points on.
continued the decline on the HeVond can
and closed steady ~ not loss OF Il
points,
The spot markets were also nffc,tod by
the general weakness. Liverpool HpOts
were l-32d lower, with sales OF 1000 bRloa
reported New York, Houston New or
lctnH and other lrlding American markets
rli Sod NJ l-ldc dcciluo Spot offerings were
light at the decline throughout he South.
In discussing the Visible supply II cotton
the Liverpool correspondent Of the Man
chester Guardian. writing undor date "
l'ohrunry TO- says. "The figures show
ihat H.i,8ooO less American has come into
sight this season than leisi and that i,l10.
on lrss American is now III sight IN the
Visible supply. The trade OF the world
have taken Sob.eoo less Of which American
spinucrs 1910 continental EpinBers Sl2,-
~. and Lancashire splnners $4,000.
"Ana.her feature az interest developed
by these nF'-rca is ,he remark 'hlc and
almost unprecedented. <rect produced w
on the visible supply '4n january, ISL
II decreased @,cn. aud IN Jrns.Jy, lNai'
1890 balcs, Last year It lncrchss1 dur
Ing January 10000 This year II hr> ~
orcapod a llttlc over 31l,0e' balca, luavlf.
smaller thun In i&l Such ngurca present
"a curious comment ANA contrast TO tho
dulmcsa aud torpdity Of tho market Tho
figures all point to an autumn squeeze
unless large shipments come to Great lirl-
tain. The cofuimrd buying OF the CON
iinrnial and American sp,nnerA 40 far
prevent such shipments from coming
here, ana the absence Of arrival prem
mmS ON distant IN ufha dctrra merchants
from impOrttnR There a. therefore, az
got no sign Of relaxation IN the situation,
and Il would appear iik"iY Ia become
wrrsc h"foto any ch7nR' ftr the better
orcurs Nevertheless. the market does not
move speculation " dormant ana n" one
appears 10 cnrc who'hor there no u
squeeze In the autumn or not
New York. February 0,--lIuhbard Bros
~ co.'s cotton letter says The weakness
Of the Liverpool mnrket Ia face OF stand
ncss on this side Inns proved great sur
prise io tho trHde and " Is Understood
Ia have resulted In the salcs Of promi-
ucnt export frm. whlrh WIS the support
of the market ten dayF ago. our local
operators WE'RE not prepared for this de-
cline M they had expected continued firm
markets from Liverpool, ms hat mutkot
had been the mninStay Of trade Tor sew
oral weeks. our market closed steady AT
tho low ft prices Of tn" day under the
continued selling Of the house mentioned
cHilicr. J'his cotton apparently went to
DfsaNrigiig uule4 flp official
tirc Of short time NJ the Eastern mills
wns published this afternoon ana pre-
vented any outside buylns rho local
trade stnl looks FOR reaction.
Now York. February 27.-Cotton declined
l2W 10 pointH under an unuTuni combination
Of British dicinton, freer receipts. addi-
tlouni March "uoticcs" and active llquidn.
Ron ~ Now Orleans sud Liverpool An
other weak feature was report Of n re..
huction 81 time of the Nav England
mills six Of them mentioned by name
ms officially announced TO reduce their
time 10 thirty hours per week Instead Of
tho present schedule Of afiy-e'sht hours.
The closc waa easy
New York February 27.-There was a
moro general inquiry and more business
~ staple dry goods while for more season
uhlr spcciDltics there wDs quite nm Inn
provement IA demand and especially for
fanny dress goods Printing cloths were
dun at 2hc to ii-idc,
COTTON POINTS.
Houston expects 1900 10 1900 bales to-
morrow. against 4p2j IN tho same day last
yosr; New Orleans 2sDo to 300. against
5lWl.
@. r. Little OF Waco, ] r. Farnsworth
Of Austin. and G. u. Groavenor of Ham
ilton. Ontario. were among the visitors
registered at the Houston cotton exchange
today.
According TO r. v. Richardson's I'D
vices, bombay receipts for the week were
60 600 against 600 IN 1885, and 7l.0D0 in
is9i. shlpmonta, 500. against 80 900 last
year and the same amount the year be-
fore.
T.. Cargill's New York advices stated
that the weakness there was caused by
the heavy selling Of Mays by Idc. Huh
bard Bros & 60. wired n. w, Martin
"McFadden selling heavily all day. no
new buying power apparent.
The stocks u print cloths at Fall River,
Providence and Boston AT the end OF last
week were Zoo 0o1 pieces. against 2l2 900
pieces a year ago The stocks OF cloths
arc shaping well 10 make "a new highest
total on record.