The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-16
COTTON MARKET REVIEW.
Futures Slightly Higher on Missis-
sippi River Reports.
LIVERPOOL MADE A FURTHER GAIN
The Foreign Market Hns Advanced
Twelve Points since Last Friday.
New Crop Deliveries Active.
Office of The Post,


a slight Improvement In futures was
| recorded at all points today. the Amer
lean markets showing n gain of 3 to 6
points. Liverpool was up LEAD. 1t is quite
| evident that the fear of an overflow in the
Mississippi valley IS proving sustain
ing factor in the foreign markets, which
has made an ADJ ance equal to 12 Amer
lean points since last Friday. Telegraphic
reports from Memphis today stated that
the river was still rising, and this nat
trally created further apprehension on
the short side and caused some covering
OF contracts. A serious overflow in the
portions of the valley threatened rlyht
reduce the next crop two or three hum
dred thousand bales. in the opinion of
conservative traders. 1t Is generally be-
lieved, however. that the levees are ca
the threatened overflow is having only
slight effect in advancing prices, though
doubtless preventing the decline that
ness prevailing recently.
AS the planting season advances. how
ever, the recklessness of thos, who are
selling October and December deliveries
at the present low prices becomes more
R'At iioiS apparent. M-sslSSl1Dl river
Incident Is merely a drop in the bucket
in comparison with the damage that
might be done the next crop by wealth
er extremes the coming summer. In other
words. those who are bearish on the next
crop VIII have merely a large acreage to
sustain their position. while the bulls can
point to the smallest surplus on September
next that has been seen In eight years
and Will have the advantage whenever
there is any indication of damage to the
growing crop by unfavorable weather con
ditions or by insects. a big crop Will be
needed next year, and If 1t is not produced
cotton will necessarily sell much higher
than the prices now offered for the fail
deliveries.
At todays session New York futures
opened steady, with 7.oi bid for May. The
price advanced to 100 by 1880, then fell
TO 7.o5, and closed at 7.O517.07. against TOE
a7o3 Saturday. August sold at IT'S carly
in the session. fell to ia. and closed at
7l61717.
In New Orleans May opened at Sol, ad-
vanced to So dropped to G,92 during the
afternoon. and closed at 6.99aG93. against
6T06.sS Saturday. July sold at s9S for
the highest but dropped to 6e4 by the
close The new crop deliveries were to
6 points up.
The spot markets were generally firm
and unchanged.
Houston expects 1900 to 300 bales to-
morrow. against ZOOS on the same day last
year. The estimate at New Orleans is
for 600 to 65c0. against 1911.
u. Il. Henderson and T. H. Kempner of
Galveston were visitors at the Houston
cotton exchange today.
New York. March I5.-I.etween personal
demands and mail and wire orders. the
sales of dry goods by commission mer
Grants have reached large figures. They
included good assortments of bleuchcd
brown, colorcd and fancy cottons also
mems woolens. dress goods. fannels. wool
dress fabric. blankets and other manu-
lactures of wool Printing and wool
fabrics in more than average request and
som" agents report worry good orders.
ir.nting cloths quiet at 9l6 for spots At
0's for contracts Sales of odd goods
more than 5000 pieces.
New York. March lj.-Hubbard Bros &
Co s cotton letter says: Our market OPEN
ed with sales of May at 7W, and after
selling at 100, ruled to 705 at D. m.
From the Mississippi valley many reports
have been received contradi1ting bur in
formation regarding tho danger threat
cncd by the extreme high water in the
rvers Il ig thought the river may 80
over its banks. Notwithstanding tn. COM
paratively low water in the Arkansas
river. az the present record is higher than
ever known. The mirke. closed steady at
reaction from the best prices.
New York March l5.-The cotton mar
ket scored another gain tolay-a net adj
Varce of to points-after having at
one time shown an advance of to
points. The early Improvement was duo
10 better cables and mood scarp. wh CHI
caused covering without encourag ing
specn!ation to any cxt,nt. The total sales
reached only M.loo bales. The months re-
ports show a firm tone throughout. Eng
lsh orders are better than exuectel and
the reports from print cloth markets and
southern spot markets show Indifference
on the part of sellers. Locally the specu-
laitve san iment continues to show hest
tation. but the undertonc of the market
was unquest.onably firm all day.