The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-23

rutsrss llahs ! NJ La Record TOR
the Seasos.
1eNpolx1s DOWN Al NEW ORLEANS.


eetablished Opday, cotton for January de-
ltvsry selling down 70 6.o4 In New York
ana 5.72 In Nsw Orleans. The weakness
dld not assert itself until after the noon
call, and was said to have been precpitated
By the closing out d q line Of long cotton
In New York. Prices were higher carly In
the session. in response to an advance at
Liverpool Of 1-s2d on both spots and fu-
lures The gain was soon wiped out, how
ever. and the market closed IA points from
the TOP at New Orleans and II points be-
low the highest at New York.
Today's break was complete surprise
to the bulls and caused considerable
liquidation OF long cotton. There was moth
ing Of panic In the selling, but the mar
xet had q weak undertone and all the ag-
gressivensss was on the part Of the bears.
Estimates for rather heavy receipts at
New Orleans and Houston tomorrow also
had depressing effoct. while shortly be-
fore the close the weekly statistics OF the
amount Into sight were posted, which were
considered entirely too large for bullish
comfort.
There was a general feeling OF demorali-
xation after the close OF the session today.
and II Liverpool should come in with
sharp decline tomorrow a further loss IL
expected on this side. A great many people
are waiting to buy cotton at cents for
January in New York. however. and doubt
less the market will have considerable
support on that basis.
The statistical position is certainly far
from bearish. and il the spot and specula-
tive demand were better prices would no
doubt improve Liverpool has 10000 bales
less In stock than on this date last year
while the amount afoat for that port is no
larger than In 1906 In America the port
stocks are 10000 bales less than on this
date last October. and the stocks at in
terror towns are 100000 bales smaller. The
amount brought into sight and the port re-
ceipts were both considerably less than in
1924 for the past week. aud the movement
promises 10 run behind that year for a
considerable time to come.
At todays session New York futures
opened quiet and frm with the first sale
Of January at 615. The price fell to 6 II
by noon. and later in the day dropped 10
e.o4. closing with that price bid, against
6.12 yesterday.
In New Orleans January sold at 5 Sc for
tho highest and 5.72 lowest. Final figures
were 5.72Q5.73, against 5S2Q5. SO yes
terday.
Decline Brought Buyint. Orders.
BY private wire to b. w. Hunter & Co.
New York. October 22.-Although Liver
pool cables this morning were encouraging,
reporting an advance OF 2-6id in the arrival
market there. which was maintained till
the close, our market has failed TO main
tain tho firm. undertono OF the past few
days. Opening quotations showed an I'M
provement of from ! to 2 poinvs as COM
pared with yesterdays close, but owing TO
the continued lack of outside buying pow
or, prices heye gradually sagged off sine,
the opening under the weight OF local Of
ierings until at ! O'Clock quotations show
net loss OF about points as oomparah
with last evening
There has been no news to affect the
market and while no decided weakness has
developed, the undertono may be called
,asy. cnleily owing to the conspicuous an
sence OF outside speculative demand
nevertheless financial writer's in this citv
attracted by the low price of the staple'
aIe prinsing the attention OF the public Ia
NV Ns OF cotton as an attractive
speculation and Investment If there hs
any virtue In power OF the press !" tbo
erect OF these reiterated statements nv
,espohsioie publications may be ultimate.
utins about a noteworthy change in
The New York News Bureau this morn.
M puonshes an article regarding sbo
sss.,n n situation, emphasizing the 3trons
nnra,a posllion and stating that II IS
Us they did In 1895. even oonceding CON.
sumption VIII be no larger than m,
wuicn Is quite improbable. Under exr.n'
sne Hpuiuation the market deyelopel co,,
sus,aoie weakness during the afternoon
uss.ning to the basis of Goa for lamar
o,. at which price the make.
NJ w., 'epresenting net loss for the dny
trVri 10 . points. The l,oud, ~ y
which has taken place has unao,n,' ai,
cieared the atmosphere to n cons,ssr.a y
eAten, and the market Therefore NAV ~
Aesaraeo as In healthier positlo, "
An view OF the extent OF the at,orn.
liauiuation the marked has ABSORBED ~
dara, so'u WIN FACILITY and the weaknes,
h 49, was not as great as might hav,
been expected. The trade hownrsas' na Jay,
continues bearish. The decline hronsh ~, :,
SUM Iairly good buying orders for lnvss, !.
nsn, ana ah Improving demand NAV rs,
snnao.y be expected with each decline from ron
~ present level. The Southern sno, NAV
xe.s continue unchanged. In the local mar
~, however, spots were marked dow,
o interior receipts for the week loo
up zsaooo bales against $4,000 last wee,
violett 4 Cas- Circular,
New York, October 22.--violett q G,
say Of cotton; This market I'm
announcement this morning to IN,
prove more than the fractional nd
vance established, but the port aud in
-
A r,.:xyod