The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-20
QUICK UPTURN IN COTTON.
Prices Advanced Seven to Eight
Points at New York.
PORT RECEIPTS WERE VERY HEAVY
Total for the Week VIII Reach
Nearly Four Hundred Thousand.
Prices Considered Too Low.


| Office of The Post.
| Houston, Tuesday. October 10.
Nearly all Of yesterdays loss was recov-
cred at today's session, the New York
market advancing 7Gfs points. New Or
leans gained sac points The Liverpool
market was Lied lower for spots, but
futures showed a decline OF only l-s4d,
which was rather better than expected.
| Spot markets in the South were easy
and unchanged, with large sales at New
Orleans and Savannah.
| Port receipts were immense, the total
| for the day being $1,000 bales. but esti-
mates for tomorrow were light at Hous-
| ton and New Orleans. The bulk OF. the
| cotton accumulated during tho recent
| quarantine has been thrown upon the
market, and 1t Is generally believed that
| the movement will not be unusually large
| from this time forward. The ports ran
| 1900 bales ahead OF 1894 today. but yes.
| teriay were 1900 bales behind. The
weeks port receipts will probably reach
$4,000 bales against $4,000 In 1896 and
3s7, 900 in 1894.
Today's market was a bulieh one prices
beginning to move upward soon after the
opening. Early IN the session the lowest
prices of the season were touched and
the full advance from that point was u
points at New York and 10 points at New
Orleans. While the investment buying Is
still limited. there Is growing feeling
that present prices are based upon ficti-
tions conditions. and that cotton values
will b, considerably higher before the sea-
sen is at its height The liquidation of the
fyt
Is doubtless in a condition to respond 10
any favorable developments
At today's session New York futures
opened steady. with 6.N asked for Jan
uary. The lowest sale was at COS, and
from that point the price advanced 20 6.l2
by noon and during the afternoon Jumped
to Gil. Final figures were el5l6l6, against
6.W@60S yesterday.
In New Orleans December sold at SIS
for the lowest and SIS highest, closing
with $50 asked, against SIS yesterday.
sentiment Continues Bearish
(By private wire to 3. w. Hunter & Coy
New York, October 19-The market has
developed firmer undertone this morn
ing, and has shown a tendency towards
recovery Considerable nervousness was
IN evidence during the early trading In
consequence of advices 10 the effect that
the quarantine regulations against yellow
fever had been practically raised through
out the South, but 1t subsequently became
apparent that the market had become
pretty well sold out, and as there deyel- |
oped a fair demand from outside sources |
which, together with the steady uniertoue
or the market, stimulated some covering |
as result of which prices have recoy- |
cred 10 point about eight points above |
yesterdays close.
The increased movement today is doubt. |
less attributable TO the raising OF the
Quarantine, but as the market has recent
ly been dtscounting a large increase in re
celpts when quarantine regulations should |
be removed, II viii doubtless REQUIRE very
heavy receipts during the next few DAYS
70 iurthW depress values. Sentiment.
however, still continues bearish, in view
OF me continued free offerings by the
south and the disappointing demand for
cotton Tor speculation, investment and
consumption. Nevertheless. there ara
many well Informed people who recog-
ME the fact that cotton has declined to
practically the cost OF production and
that there is considered BILE doubt "a 10
whether the yield is likely to greatly ex-
ceed this seasons consumption reGulre-
ments and are therefore disposed TO taka
4 more conservative view OF the ma rket
~ inc belief that current prices are rela |
tVeIy so low that pronounced recovery
time. N"y