The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-17
COTTON'S DOWNWAR MOVE
A Further Decline and an Unsettled
Feeling.
a MEMPHIS FIRMS CROP ESTIMATE.
rho Yield Placed ~ Nine Mutton
SIX Ruudred ousWnd-fcllison's
Estimatc Of Consumption.
once Of Tho Post.

~@@~~~a
once Of The Post.
Houston. Saturday. October 1s.
Another decline was added to the Is
points clipped from prices last week. Liv-
erpool advices were very disappointing, fu-
lures there closing 2is-64d0s-e4d lower
than yesterday. while spots lost 1-9sd.
New York and New Orlcans opencd Ssis /
points down. but recovered part Of the
loss. nnal figures being sea polnts lower |
than yesterday. Spot markets were easier |
throughout the South and prices were re-
duced i-lsc nj Savannah and Galveston.
Very few people now seem friendly to
cotton. and the bears And little resistance
to their efforts at depressing prices. 1t |
seems to be generally agreed that the mar |
ket is very near the bottom, but whether |
this means s, 10 or so points further decline |
is hard to determine. The receipts are not |
heavy, but there is a fear everywhere that |
the quarantine restrictions have caused
large accumulations. which may be thrown |
upon the market at any moment
Those who anticipate lower prices point
to the large receipts at Savannah and other
Atlantic ports as being indicative of the
true movement and claim tnat II Caves
ton and New Orleans were not hammered
the pert receipts would run considerably
ahead OF last year. As It is. bowevsr. the
exports are beginning to run aheii Of the
port receipts. Eighty thousand bs,es were
cleared for Great Britain. France ard the
continent today, or 80. 900 more than o. this
date last year. The foreigners ,sdently
believe cotton cheap at present prtess. de-
spite their contention for 3-pensc aud
under.
At toduy's session New YORK futures
opened weak, with the nrst sale OF Jan
wnry at GIL. The price advanced to 6.15.
then fell to Gil again, advanced TO 6,17
| and closed at 6 l6@ o. Il, against 6 2oI6.l
| yesterday. In New Orleans December sold
| ct 5Sl for the lowest and b,S6 Richest
| closing with 5.s5 bid, against $50 yes
| terday.
Houston expects II 900 TO 1880 bales
| Monday, against 1o.,07 yesterday. The es-
| innate at New Orleans is for 10000 to
$4,000, against a1,o77.
A Big Week for Bears.
L
| b. W. Eunter c Co. OF llouston say In
| their weekly market letter:
The hears In cotton have had big week
| +. u,,., All. ,,.t ,t 90
" ~ "'e '''' NV Tvs '".'
| points lower than the highest OF last Mon
day. the day of the 70 per cent bureau
report, which brought a flood of cotton on
the market, and It has been coming out
| every day since. This LIQUIDATION
and hammerins nv the hears has forced
nr,.,, IN .oi,,,. so,.r, ,ba n,,,Io,. low
pseee 'o'n'' WV" '''s
poiht OF tho season, io"er yuan oottoh h"s
been since the low prices OF The japanese
| war vear and Within a Few noIn;s uf the
| -. -. ,,..,ns g.. 49,. -. .,,,.
~" p'No 'ie"iN'e' W Inv ''"'' W.
months ago, inc contract market has had
10 take cotton that spot buyers thro l9houi
| the country could not sell 10 Liverpool
| and to Eastern spinners. and tho quaran-
! tines have WORKED against the price.
II the market breaks nearly 10 points
ON as buliish government report az any
! one expected what VIII u 20 wann Nclii
hna'ly comes out with that lodoV'o.o estl-
mate which is daily expected, ana when
all the cotton that has been held oack tv
quarantine comes ON the market? IRE IL e.
os the "noie mater - INA. 'pe. ', ''.o W.,
blame the market when II goes contraIy
| 10 your luusHeHt. Ape man VIZ u.''es ="
ootloh ior any 1'her Iaaso" .,Aa 10 , ,'aha
Money hy going with the market 1hc hull
news of last Monday was anticlr,,nd tcv-
erai days ahead. hence on US an1ohhss'
men. was .ne o,.u' ,i ~ s' no, a ~ hnc Nav
we will likely have MIR. Neill'a estimate
in few days. and a freer no7ement or
cotton from the raising OF dua'snl,', ,
|
foreseen by tho traders who make Inoncv.
Tho market closes only points down on
the day. steady in tone, having rallied from
the low price OF the opening on covering
by shorts, who are little uneasy at the
low price, and danger or frost. su:.atsc the
receipts should not turn out so heavy as
expected after the restrictions ARE removed
and si,nnose the crop should gtuw mailer
In the ewes OF the big guesss rs? TO what
Mr. Neil NAV have TO say W. adgifc cur