The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-05-09
COTTON MARKET REVIEW.
Futures and Spots Closed at Higher
Prices.
THE SUPPLY Is DWlNDLlNG RAPIDLY.
nulIish Statistics Cause Firm Mar
kets - New York Futures seven
Points Highcr-World's visible.
Office Of The Post.


July cotton is again worth l-2 cents at
New York. and only 4 or points below
that price at New Orleans. All markets
we're HIGHER today. and the bears had no
comforting news excep; from Fall River.
where the usual doleful reports of trade
are forthcoming. Statistics are extremely
bulEsh. and today the boards were COW
cred with facts and figures TO show that
the supply Of American cotton Is rapidly
nearing tha next 10 nothing point In
terror stocks. port stocks and plantation
remnants arc being reduced daily, and
there are fifteen weeks before enother
season viii begin.
But the bears say statistics are doing
verv lntle for wheat, and can hardly 10
anything more for cotton. They contend
that present prices are cur;atling the spot
demavd, and that any further advance
would merely serve to bring out country
holdings. while preventing the mills from
purchasing. i; is certainly true that
prices on cotton goods have not been adj
vancei during tho upward movement on
the raw staple. and II Fall River reports
are to be relied upon, any attempt TO name
higher quotations on prlu; cloths would
merely drive off customers. But FAN
exception OF Manchester. and the two
points together form a ceruiean combiua-
ton OF dolefulness that IS hard to be
eoualled IN any line OF business.
Liverpool responded to yesterdays ad-
vance on this side by putting futures up
2-6idQ ga-6id. Spots were unchanged, and
Gales amounted to only er0 bales
New York futures made gain OF 20
s paints for the half session, the near po-
sit.cns showing the greatest advance. All
gus, sold at 7,43 on the opening, advanced
TO 7is and closed at 74s. against 7.il4
ZAP yesterday. December sold at $50 for
the lowest and 6,s7 highest closing at CSC
ass, against 6.e9a693 yesterday.
In New Orleans. futures were TO
POINTS up by the close, July sold at 742
shortly after the opening. advanced TO 7.47.
and closed at 7.45aT.46. against 73997.4o
Yesterday,
New York. New Orleans and Galveston
advanced spots Lice
The gov eminent bureau report as 10 the
cotton acreage will be issued Monday.
Last years May report showed that of
the contemplated acreage 81 $40 nod been
planted the usual average is So 2-l0. The
following shows the percentage for each
State of the area planted ut this time
lost year:
North Carolina. 50 Florida $500. 100
south Carolina" 90 alabama ;.... e. %
Arkansas. .......... 81 Tennessee 80. -. q
There was a considerable contemplated
increase in acreage, averaging ia $40 for
the cotton belt. The Texas acreage last
! year was lis. or slightly In excess of the
gt neral average The report showed plant
Ing to be much earlier than usual, and as
general thing. plant was said TO be In
good condiLon with favorable season.
A New Orleans firm writes: "Thosc
favorng cotton figure that the crop
VIII be only $4,000 bales, and on
that basis they claim that the visible sup
ply will be 10000 bales less on Septem
Der / than last year. and therefore with
this shortage In the supply they are of
| the opinion that 1t VIII require an carly
and large crop to keep pr.ces from al
vauetns sharply. Nevertheless. With every
speculation. nothing has come of Il, and
| no Improvement has aiken place in tho
cotton goods trade Of this country.
The fact of tho master Il. the advance
| in the raw article has placed the Aner-
can sp.nners N an awkward position, be-
cnHsc The manufactured product has no:
| advanced relatively, consequently they
are now talking of reducing their output
| both North and South. commencing from
| the first of June. Another disturbing els-
mont 10 the trace Is the delayed action ON
| the tar fl bin in congre S.. winch hCs ness
men can not discount as they are not
| aware what changes may be made in the
| Dingley bill. hence they arr compelled to
lie conservative in their operations
| Crop prospects. how ever from all Soc
! lions Of tho country are moro flN ornhle,
and plaTtiug preparations are be nB push
ed forward rapidly IN all the former IN
Undated serdons ncrta of Nicksbnrg IN
| the Mississippi delta therefore. with a
| continuance of good weather, we think
| the fall months are sale on all spurtS.
The worlds visible supply of cotton de-
creased $4,000 bales this week. against Il
decrease OF 1890 for the same week
last year. The total supply is now ,3S. S3l
bales less than on this date last year.
End 10000 bales below the amount on
hand on May 10 1885. The visible supply
today and for the corresponding date IN
| previous years is given below;
May ,, lM ACKNOWLEDGEMENTS. 95iu
| May =, le" ia
May TO- ON5 25S
May II, R9'.'.''..,. SIG
The weekly movement of cotton at IL
leading interior towns according TO tho
Chronicles statement. issued this morn
| ing, was as follows;