The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-17
COTTON MARKET REVIEW.
Futures Opened at % Advance, but
Closed Lower.
HOUSTON SPOTS UP oNE.slyTEtNTn.
Good Inquiry for Cotton 1t All
Southern Potnts--istordrn \ Co.'s
vicws-Thc Movement.
onicc OF Tho Post,


officc OF Tho Post,
Houston, Tuesday, March 10.
Tho Mississippi river sent cotton up
about points this morning, but tho fear
OF an overflow did not sustain prices
throughout the day. Tho American specula-
two markets weakened during the after
noon and tluai figures were l to pointa
lower than yesterday. Liverpool showed
a very firm undcrtono and closed lih-Gid
up on the near positions. and ,a6id UP on
the new crop deliveries, Spots also i'd
yanced i-s2d in the foreign market.
The better cables aud food scarca have
caused many shorts to covcr their contracts
this week. but outside OF this feature there
has been very little speculative interest
The buying is on limited scale and trad
ers show much hesitation about entcriag
tho market Receipts continue to equal last
years record. while exports this week have
boen somewhat less than during the same
timo last year
A favorable feature today was the better
tone 10 spot values, Houston and Galveston
advanced prices lice. New Orleans closed
firm, and reported sales of 1000 bales. There
was good spot inquiry at nearly ull points
and many holders were Indifferent about
selling.
Now York futures opened steady with
May selling Mt 7.0S6pT0a. Tho price al
vanced TO 7l2 by 1880. huctuated between
IOaMI10 for tho next three hours. aud
thcn FOIL 10 7.O5. Final ngurs were 1850
zoo. against 7o6@707 yesterday. August
sold at 7.22 early in tho session. but fell to
7.i5 by the close,
In New orleans May opened at COS adj
vanced to &c In half an hour. and then bo-
at 69i and the closing was GaoGfG,pi.
against d.9sdG,aa yesterday. July traded
only ono point higher than May, selling at
&c for the highest and closing at Ggldl5p2,
Rlordan 4 Co. of New York write az
follows Tho situation at present is pc.
cuiar. Speculation liz stiil dormant aud
those operators who hnvo not cnti,rly
withdrawn from tho market appear to be
dcvoting their attention wholly To scalp
ing operations. when tho market becomes
ilrm they buy for am expected advance,
and when il fails to matorialzo Immediate
ly they sell their cotton out again. This
feature accounts FOR the foklencss OF tho
market, which has been so pronounced Of
late. Such n condition can not lart long
now. II Will soon be demonstrated what
tho value OF cotton liz and we shall have "A
sharp movement In one direction or III.
other We do not believe that this diirc-
ton VIII be downward. Onr correspondents
In every section Of thd South rcitarnto and
emphasize their former statements that
tho amount of cotton left there is phenom-
onalIy small. They also. with practical
Immunity, assert that so far preparations
for tho new crop are far behind hand. There
Ia no doubt that the European war clouds
are no longer threatening; that tho mills
here and abroad VIII become ready buy
eis at the first signs Of nm ADVANCE or
that general business shows steady and
gradual improvement. These fhotors all
point. we think. to higher prcee for cot
ton Trading In the now crop months has
and they have bcon the leaders In such
Az tho market has had.
Cotton Points
Mr.. Julian Robertson has made nppllca-
ton for membership IN tho Houston Cotton
Exchange and board Of trade.
Judge l.. ]. Storey and Colonel Frank w
Hall Of Austin were among the visitors
registered at the Houston Cotton Exchange
today.
Houston expects 1000 to 1900 bales to-
against 1921 on the same day last
year. The estimate at New Orleans Ia for
$500 to 1000, against 1892.
MIR, Elllson's figures brought down 10
March I show that the European weekly
~ now $4,000 bales OF 200
pounds each, or the same as last year.
The total spinners' stocks In Great
Britain and on the continent Increased
l2O. 900 bales during February. being 10000
bales In Great Britain and $4,000 ON the
continent. Yet this total Of $4,000 bales
Ia still 27 900 bales less than the European
spinners hold az this time last year.
New York, March IG.--Thc cotton mar
ket, after making an advance OF to
polmis, faigad 20 hold II ana closed bare.
" steady. with prices unbalanced to
point net loss. The spot demand. which
has been tho bone OF contention of the
market, Is also unsatisfactory. exporters
seeing 10 rcnson why they should Ontiei-
pate the fi''urc so long as spectators
arc Indifferent The market opched high
er IN Hood scares and buillSh cables, but
Ia ctcd support and suddenly declined with
weakness, particularly just before the
close
Kew York, March l6.-Hpbbard Bros x
Co.'S letter says; The overnows VIII GER
,pinly make the crop late one through
out the Mississippi valley section, and
thereby lncrease the scarcity at the end
Of the SEASON Locally the food reports
are hiRsipated and the feeling remains
bcar,sh on the absence o. speculation.
Opening higher. the local trade supplied
lie demand. anticipating n reaction dur
Ing the afternoon. Local traders were
al the absence OF demand on
The predicted oyerhows, the market clos
Ing barely steady. a shade lower tnan last
evening,
Now York, March 1G.--Bpslness In cotton
was n ore moderate thar
as 10 mails were at hand from
The more important markets OF she conn-
Try There was consideraiiie doing IN wool
fabrics of all deacript Ions and important
re nynctions ware made. Printing cloths
deep quiet at 9-lsI2 SIS for respectively
spot and contracts.
COTTON