The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-22
COTTON MARKET REVIEW.
Small Receipts and a Coed Spot
Demand Arc Features.
PREMIUM on AUGUST CONTRACTS.
Forty.two Points Higher Than De-
cembcr-SpccuIative Interest Is
Lacking-Spots Are Firm.
Office of The Post.


Cotton started at a buliish gait this
morning. but ended the day in the usual
duh and dragging ryle, closing figures
being practically unchanged at New York
and about ] point mp at New Orleans
Small receipts and a good spot demand
were features of the day. but the specu-
iative interest IS stll lacking. Liverpool
cables were rather bullish. and futures IN
that market advanced 2.6iuO2i9-Gid. Spots
were also 1-32d higher. with sa.es OF 1000
bales.
A striking feature CT the market a.
present Is the gradual widening in the
difference between the late months of the
present crop and the near months of she
coming crop. In New York. for instance.
August contracts are now worth 7Si.
while November can be bought for 600.
difference of i2 points. a week ago the
difference between these positions was
only 90 points, and two weeks ago it was
even less. The aoalper who bought August
and sold December has nice profit to his
credit already, with a chance of adding
10 It If the belief in a small supply OF cot
ton In the summer and the probability of
a big crop next season becomes lodged in
the minds OF SPECTATORS. In other words.
there is beginning TO appear the same fear
of an August corner that dominated the
arket last summer when August finally
reached plane 80 points higher than Oc-
toher. Those who are counting upon &
repetition of last summers experience
~. 40 nj, 80 ,,.,,, d, ,,,,rd hou,evor
Us"t w wen - "e'' -, .'',-,'
that there is row no Johh lhinah 10 en-
ginecr an August deal and that unless
-. ,oi ,r,o,-- 3, viii ha nocassarv
~" 'e''te' iP'e"-a :.
for cotton to corner ltseh.
At today's session New York futures
o,,aros g., ,,d tt.bor 10 heinc bi1 for
a. "a ~ -
March. From this point the price aa-
~tte sc,ons an March closing at zoe,
apai-si 7oe17 10 vea.er,iav. Nav sold al
~ about the oneni,r advanced TO 73o
hv noo, and closed a, 72ea7.o3. the same
a. ,as,o,do,.s o,sl .oura.
sn,d =. az for ,bo b.,.bes, dronnc1 IN g 50
w. ~ -, 49,, on
sad closed at 6Soa59l, against eeJHe'9o
yesterday. May sold ct 10 during the
,orcpoo, bu, fsu "a al hefora tho closa
iSi-ai tiSures wore a. 7 o2q7 "a or i noint
bi,b.r =" ,f - 1870 ave-
''-='''' '""" "N.'
r-1,,, u 1-,o,a+. 40 Nv, c,-,a,,,e write 90.
t7iI III ~ 'o4S.' u. 80 ~. ,e
n.t tt.cl ne t.t laS NVi'sii't''Su ~ a.
itel ~ hi W e6,,H
al Los, 81. ton II
-, IN, Is We pa, ~ , rnI wv
iie supply. The commercial current
seems to he changing from the ebb 10 the
m l'}3a ana prospective tarn leg s.atlo,h
~ ststament show a loss in stock ~
about 5h6n bales: .he sock at the thirteen
loading i,terior towns ~ Az ~ baIas 10.
inr About is Oo loss Than last yaaY
V!lcthnr mr. no, r,-sss,,, fa,,,s Wa rant an
IMPROVEMENT in price may be questiona.
Vie, hlit that sert.iTnsnt favorsble 20 cotton
is row ~ rnnre sra.rk would 1niej,iv hecomc
a flame under any stimulating circum-
stances
>ou. vo,,, r.,,,,,. n, r,,,-o
Ne" YORK, january 2I.-Ihere was
| sharp rise OF . 10 points In cotton this
morning. following substantial cable re
,or,- - ,.,t,.,... -. ~
ro'Hs vi acu'''V ana s.reNs'h al ran
| River. indications OF subsid.ng receipts
| at interior towns and po-ta firmness in