The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-14
SPOT COTTON GOES DOWN.
A Reduction Of One.sixteenth in
Several Markets.
WIRE SERVICE WAS INTERRUPTED.
Futures Closed = shade Lower.
Yellow Fever scare May In
hucncc the Market.
Office OF The Post.
Houston. Monday. September Il

Office of The Post.
Houston, Monday. September IS.
Last nights storm played havoc with
the Geographic wires In Texas and else
whore, and 1t was nearly noon today be-
fore any market reports were received
at the local exchange. The interruption
of the Geographic service also curtailed
business at New York and New Orleans.
no outside orders Of consequence being
received. The American markets were
somewhat stcadier and showed a tendency
to improve. Liverpool closed only lid
lower. which was rather encouraging,
many traders having feared q sharp de-
cline. New York was about 3 points up
for while. but eased off toward the
close. final figures ranging from UNI
changed point lower than Saturday
New Orleans was unchanged on the near
months and 1@2 points lower on the dis
tant positions.
Inc spot markets were weak and lower
a decline of Lice having been recorded
at several points. New Orleans Is now
quoting mlddIirsg at e%c and Houston at
9 13-16c. The yellow fever scare may have
some effect on the spot markets. though
of this influence whether bullish or bear
ish. An epidemic Of yellow fever would
undoubtedly delay shipments of cotton,
ana as there Ia scarcity of the staple
ON passage ard at foreign ports, the de-
mand for Immediate export would be
greater than the supply. Such a contin-
gency should advance spots, as we'll as
the near deliveries, on the future boards.
Thus far however, the markets have not
| ANTICIPATED a fever scare and 1t is to be
hoped that such am influence will not be
| felt.
The quotations from New York came at
irregular intervals today. December sold
at $50 for the highest and 676 lowest,
| closing at 675Q6.76. against 6.76G67 Sat
urday. September touched cents during
| the day, but 69i was the highest bid on
| the close. Only three or four transac-
| tons were reported from New Orleans.
| December selling at $40 for the highest
and CAT lowest, closing at 6.46a647.
| ScuIpinE Market.
| b. w Hunter & co. were advised from
| New York this afternoon:
| The action of the Liverpool market this
morning was encouraging to believers in
|
opened higher and steady In tone. There
was some buying by shorts, who seem by
no means certain of their position, and
there was also buying for the long ac-
| count on news of damage to the crop and
| on account of the stormy weather pre-.
vailing. The movement Is rather liberal,
| and on the posting" of Houstons heavy
| estimate for tomorrow the market sold
Loft glA ola
night.
The position of best traders Just now
IL "a waiting one, and unless sonnet hing
| pronounced In the way of damage TO the
| snoWlig crop happens, we look for a
| escaping market witfiin the range that has
| been covered for the past two weeks az
the bears are not very active, and show
| no inclination to sell the market down
| pretcrlang to wait the movement of the
| crop ana let the weight of the cotton
press the market down farther. The bulls
OF the other hand do not seem Inclined
to add to their Ines so long as the mar
ket continues In its present apathetIc
state but onahy sign of speculative inter-
est being taken In the market and the
appearance of outside support prices could
be advanced very easily.
Have Faith In Mr. Nein.
Bachelor Baldwtn & Co. of New Or.
leans say In their last market letter: In
conversations today with an English cot.
ton merchant, who was passing through
our city enroute to Texas. he said: I've
believe Mr.. Nell is in position to judge
better OF crop conditions than we, and as
a rule. we disregard general information.
which Is usually of a sensational charac.
ter, especially as TO damage reports Tha
consensus of opinion at Liverpool is thai
MT NeiHs estimate is a very conseivat tive
one"
When we consider that tho English be.
lieve in ten-mlnon bale crop and that
Manchester is doing only a moderate bust.
ness, II is not surprising that the Liver
pool future market is n very bearish one
But they have been brought into line
many time before, and we believe they
wll be the heaviest buyers before very
ions' Tor the crop is in precarious con-
dinlon and as 1t had late start and has
sunered greatly from drouth and lnsesl.
son,'ble weather generally, the top crop
WIFI amount TO almost nothing, especial
II irost occurs at the usua! time
Cotton Is Cheap.
II. I. Woods & Co. of New Orleans
write; I'VE regard cotton as cheap ON its
owp merits, but its situation accumulated
by adverse crop reports makes its posi-.
! ton douhly strong, and we must remem.
, Der that We are selling next crop de.
iverles at heavy discount on presen,
prices and at figures that seem to us to
discount full yield. Every fact war
rants the belief IN higher market, MOI
can We discover shy reason why on,
: shou'u indulge contrary opinion, excep,
that he is bear.sh from habit and ina
NSlpit mas growp 70 be second nature"
unsatisfactory Cables,
New York. September lS.-The cotton
! market opened steady. with near month,
gas points lower and the latter months
] point lower 70 higher. The early de-