The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-10
A Decline nf Seven Points in New
Orleans Futures
FUTURE OF VALUES IS UNCERTAIN.
There Are Many BulIish Points. nut
They Seem TO Have Little Eject.
The Prospective Crop.
Office Of The Post.

| the American markets. Li,erpool futuros
| lid not show the expected advance. tnt
1 closai very steady at Yesterdays figures.
spots were firm and 1-32i higher. Since
| ulative business YVES light in all markets
and spot transactions were also small.
Traders are dubious as to the future Of
| cotton values and many operators are
waiting for some new feature to dcyelou
| before entering the market. There are
many bullish points in the situation. hut
| they have been brought 10 view so often
! that the bears are no longer frightened
by them. Prophecies of a cotton famine.
August corner and Decent values do not
| seem to disturb the bruins in the least,
They say that there will he within 5000
of S.0Dd20 bales in sight by the end of
this month. and that at least an aysra 90
| OF 10000 bales monthly for the remainder
| OF the season can be counted upon. maxi
| ing total crop of S.60o,000 bales minimum.
| with such crop they believe the world
| VIII have about oil the American cotton
| needed, especially the invisible S,,p-
| pies held by spinners are undoubtedly
very large. They also call attention TO
enc fact that spinners are not at all likely
| 10 be caught by squeeze or a corner
| when such threat has been d.nned in
their ears for months in advance
| Inc bulls are no longer basing their
prophecies of an advance upon a crop of
$4,000. or 100000 bales but are willing
TO grant that IL will be s,5CO.Ooo. and nos
| sibly 100000. They say that even with
| the last crop, a consumptive demand for
the remainder of the season no greater
| than last years, would use up every bale
| va, to come into sight, and that anv i'm
provement in trade conditions would resul,
| IN scarcity n month before the new
crop was ready for market
Just now such talk is having little effect
one way or the other. and the market is
merely guided by Ltverpool's opinion of
| European political complication When
the Grecian troubles have been finally nd
justcd. doubtless traders will examine
more thoroughly into the question of sup
ply and demand.
opened easy with 600 bid for May. Prices
advanced to 7.Oi soon after this, then fell
to 6.os again. and fluctuated between Cos
@7c for an hour or so. During the after
noon May touched & 81. but closed at 7.Ol.
against 1.05u7.06 yesterday. Jlly sold at
7.l3 early in the day. dropped to 7O6 by
noon and closed at 709a7.10.
In New Orleans May opened at 6.a ad-
ynnc1d TO ~ by $40. then fell to 6s2. and
terday. July showed only few actual
transactions, and closed at a net decline
OF points. The fall months were 6 to
points down.
Houston expects 1900 to 1000 bales tomor-
row. against lib on the same day last
year The estimate at New Orleans is
for GOO to $500. against Sl5l.
J. n. Mitchell of Lake Charles La.
George f. Littles of Waco and ]. c.
Hardlson of Paris. Texas. were visitors
at the Houston Cotton Exchange today.
Houston has already received 1850 bales
of cotton this week. or 1900 more than
for the entire week last year. The total
this week will be fully 1900 bales, and
will compare with 7oo5 for the CORE pond-
ing period of March. 1896. The latter mart
OF this month last year showed rather
heavy receipts, the last two weeks aver
ag.ng L. 600 bales.
Macy x rendlcton bankers and brokers
OF New York. write as follows: 1t Is quite
possible that there IS more than the usual
average of about L. per cent of the crop
TO come from March l. and that final out
turn VIII come nearer 9.en.oV0 bales than
sight 10 March 9Th was s,5s2.sl5 haes.
, against 6,UH,oS7 last year. The worlds
Visible Is dwindling, and Is now a7t6.2S3
|
,sOs in ls95. Stocks American al l-iv-
erpool exceed last years supply about
. per cent. and the total reported from
all other positions about equals last years
sullly. The exports tor the SeAson 10
M@rcn, were 4,7Ol,7So bales, against SSi7,-
62i bales last season. and this 9ncrelse
over hast year may Indicate disposition
10 keep surplus under foreign control uhtil
tho new crop is assured. There may bs
visible supplies equailng the demand OF
spectators and spinners, should the pres
en- ftioas s,al'stiHai position OF cotton be
az" of planting. The agreement OF cioln
brokers to Withhold statement of the Fan
River stocks and the Withdrawal OF large
quantities from market by speculal ors
also strengthens the situation. Cotton
seems low priced investment at piesen, NJ
| ngures with chances of profitable rise IN
values more than usually good.
New York. March g. Hubbard Bros. &
Co.'S cotton Letter says: Oar. marKe!
opened with sales at oscar 90. closed az
i.p and after selling at 7.Ot rujed at o''S
AZ p m. The market ruled steady dur
ING the afternoon and just PRIOR 10 me
close advanced points above the lowest
quc.aton on buying orders based on d
| better outlook.
New York. March o.-The cotton market
orened easy at loss Of 5d6 points and
further declined points under local pres
sure. following disappointing cables ana
apathy OF outside speculative interest.
Subsequently, the market recovered me
| loss but sin later selling became actiNo
| with German houses leading. As a whole.
| Liverpool cables have been unsatisiac-
tory but selling received check from
Fan River. winch reported good demand
for print cloths, ann advices from south
orn spot markets, which showed .nd.ner-
ence on the pan. of holders. In the after
noon tho market hraced little on cover
Ing and closed firm with the net loss re-
ut,%d TO Sac points.
New York. March e-In dry goods tho
spot demand was more irregular. as usual
on Tuesday. In the absence of advices
,, from out of town markets. though n good
, number of wire orders were at hand for
moro or less quantities of spcc!alties IN
. various stuffs. The volume of sales Ell
| fedl-d was large and resulted from de-
b. | iV'ries on former purchases. Printing
: | cloths quiet at GIG.
COTTON.