The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-05-23
COTTON MARKET REVIEW.
Futures Were Dull, but Prices Held
Steady.
THE SMALL SUPPLY OF CoTTo,
American stocks Have ucrn Nntert.
ally Heduccd-.Aueust Position An
niyycd by New Orleans Firm.
Office of The Post,
Houston. SATURDAY. MAY %

Houston, Saturday. May 90.
Tho speculative cotton markets were
very duh today. but prices held fairly
steady. Liverpool closed unchanged on
nearly all options. which. after Fridays
slump ut New York. was considered an
cncouragtng feN,usc by tho bulls. New
York futures advanced lbs points. whllo
New orleans ranged from unchanged TO
l point down. The New Orleans market
s,lll presents a bullish front on the sum
mer positions and futures there arc re-
lo'iveiy higher than in New York. Spots
IN New York are Nc above the New or
leslns prices.
The supply OF cotton In this country Ia
now nelucod TO u point that would seem
to indicate a natural corner Of July or
August contracts. but the tcmpcr of spec
ulotors e morn bcarish today than FOR a
lod'g tlne past, The hears claim that there
Will he COCOA bales OF cotton available
at ports ard large Interior towns IN
America during the aext eleven weeks
or un'h August If. and that the home con
sumption and expor; demand Will no, be
over $4,000 holcs n week at the NEST or a
total of 100000 bales TO be taken on. be.
foro tho new crop IS on the market
prices OF spots would merely curtail the
demand, as sp!nuers are unable 10 eel
goods for fall delivery on tho nrcl,,n,
hacsis OF spot values when the new crou Of
cotton is selling anywhere from 81
400 a bale less.
"a, today's session New York futures
opened quiet and firm. with August trad
ing at IN The price advanced To IN.
s,t . t-
aralns, 1.lip7.l5 Yesterday. December
soh at 6,NR6.55. and closed with G.75. the
pi4ce asked.
In New orleans there were only n few
sales Of July. tho h.ghea; being at 10
the lowest IN and the closing NJ 71Sp
~ Oh the same as Yesterdays nnal ng-
ures.
II Il. Woods & 60. OF New Orleans
write as foliows
AS the objective point OF the boar cam
ptign seems 10 be August contracts. and
10 IS wen enough TO analyzc their posi-
ton not only ms at present ndloatcd. but
from possihl. basis 20 be nna &c likely by
favorable crop mlvices.
IN" present shows August deliveries
selling in this uLgl,ct well us,dcr cents
with stock OF All SORTS AMI knds OF
only $1,000 bales. OF this there is prob
ably about l5.oo1 already sold ANA await
ing shipment fhis Wptild give uH today
u net stock OF r9pV0 bales which Gen so
FAR as .u- availability Is concerned ia To
DE further pduced bv staple ant other
C0tions unsWted for contract delivery.
eliminating these, would place thu stock
of cotton sultohle FOR delivery on CON
- 90 bales
So much Tor the prosant nspect now for
tINN nrpNngGilkR wl-t "a This I'D hi,
values were assailcd by every conceivable
motor of depression. We cutcrui June
WIN mo phenotmena bureau oond t!on OF
~ = Arflurt SD for the 1--WE preceding
Vt'hs' ANA July continued to maintain this
S.h'i'LI OF excellence. showing N2.h. or
NJ hlEh"st ever known FOR that month.
Ihcs9 favorable conditions continued IN
III s0tef the middle Of July. hence the
.lon pronisr NJ n d"prcsslng element
may b" said 10 have extended last season
Won m 10 tho month OF August
Last season We entered August with n |
stock here OF only ls.ep bales. and IN en |
Jar as ono en- Judge from The present
inns year NOW. IN aiii fiJn 20 thn u r
mai AuRnst movement we had nreoipi- |
i'tri 1920 hHies OF new cotton or an |
amount. at this pcw alone far IN eyc.gs |
~ me tN"nlse August Hnco'Dip for an |
lhlicl Sinfos por,a. AMI o. 900 bales nh,std |
OF ihe average New Orleans receipts of |
mSW COY oh for the preceding s.N gears
lAtst leiireA would seem 20 aRsurr us
ihat und"r 10 conditions or circumstance.
arc We likely TO suffer hv crop comma ri.
son, nj inasu una after AugHgt l. and
II * equally improbable that We win
hFiln sec n movement IA tho i.ast ,Jofrrro |
apprpNlmai ng thal of August 1890 Nory |
shtuI our 81 lcf on August / not oxcesI
ih' lNpn bales nf last Ycar. to he u,tp. |
m-iNfi by average AuiTiuf rsrcfprs ttis |
Supply wouli hardly be sufficient 10 war
ram Il Successful bear raid oven rrautiup
n luosl In ieflnE crop outlook throughout
ihai month
Now as tho expectation of a inateriaIlv
lower MARKET IS predicAted on the Dosslhle
why may NOT the bulls also theorize? Add
10 lbe statistical position nm unfaVorabio
crop promise and last Augustus advane.
would nc repeated and accentulte1.
The worlds visible supply of cotton do.
creased D,y)l bales this week, agaiuBt a
decrease Of Il2.e)j for the same week lasl
year The tolal supply il now 81, g8s balrs
lfSa than IN ih.s date last year. and J. s
400 bales below the amount ON hand on 4
May H. 1898. The visible supply today and T.,
for the corresponding date IN previous
years = gwen below:
MAY = 1875 '..s.s.'- ,..........,,.s.,1 biZit
MAY y, 1876 ........... .........,....s,lIA.N Jl
AaY - $50 ''.'.'''. ....-.........s.6,lhs ~ |
May - Io't ''s's'' 's's.....''.'..''''o'f1bob
The weekly movement OF cotton at 81
leading Interior towns, according TO the
statement issued this morn /
ns, Was as follows:
IRGts'sbpisstock {
FMS week -, .--...1 l2.S'tj 3iGi6l 1ig.@2 I
asst week ..,.. ........l 1855 &.Us 1al .fGl ,
rms week 1876 .,..,,...d i7,75S 1855 IGS on +,