The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-05-14
COTTON MARKET REVIEW.
Dullncss Prevailed and Fluctuations
Were Narrow.
NEW YORK SPOTS ARE HIGHER.
Northern Spinncrs Are buying In
That Market - New Orleans Fu-
lures Advanced Few Points.
Office of The Post.

Office of The Post.
Houston. Thursday, May 49,
Liverpool WIS dull. New York was very
dun and New orleans was extremely dull
Some Of the brokers say New orleans
| might as we'll adjourn until next Septom-
| Der. as the speculative bus ness therc has
| already dropped to a next to nothing
| point. And yet New orleans Is holding UP
| prices better than any other marke' IN
| the coun7ry. and all selling offers are
| really absorbed. At the close today New
orleans futures were 2di ponts up. while
| New York remained practically at last
nights figures. Liverpool was unchanged
on the near positions, and l-2-6idu1-6id
higher on the new crop.
| Despite lJhc slgging tendency Of New
York futures. spot values there are now
| higher than at any time for the rast four
months Prices advanced Lie today
making mald!ng l3-11c. During the re-
cent furry when futures were l2 points
higher than at present, miidling never
went above 3-+c With m,ddllug on the
spot AZ 1916 and Iuly contracts selling
for 7-l6c. the bulls think II a good time
to secure such options. They say that the
| SINNERS Will need cotton worse In July
than now. and that It will be much harder
to find them.
Such a contrast between spot and future
delivery prices does seem to favor the
bull side of the market. but the beurs con-
| toni that by July the condition of the dry
goods trade In this country Will be so de-
plorable that spnners VIII be purchasing
very lutle of the raw staple, AS an in
dlcaton of this they point TO the cali for
meeting Of southern cotton mill men.
who are to agree Saturday upon some
rlan OF curtlilmg proluuton for sixty
days.
At toduv's session New York futures
opened steady. with futures selling at T3s.
The price fell to 7.57. then advanced to ~,
and closed at i3S17S9 against 7.S9q7.4O
yesterday. December sold at 6SiG6.$5 dur
ing the day. and closed AT 6.SJaIS5. the
slme as yesterdays final figures.
New Orleans futures opened barely
steady. with july trading at 7.SS. The price
fell to 1886. but soon advanced 10 7.S9. aud
closed at 7.39d74o. AGAINST 7.S1Q7.SS yes
t.rday.
Macy ~ Pendleton of New York say OF
the recent bureau report: In brief. this
repor, appears to mean that the Twelve
cotton States contemplate planting about
that owing to the luteness of season In the
upper belt. the planting actually conn
p.e;td UP to May / was 1852 Is. acres less
than last year. In other words. that the
Gulf States and Texas are earlier than
usual and upper StG;es were enough later
10 bring the average down. Such report
Is liable to be very misleading and con-
firms our hearlsh position on the cotton
market. The more 1t Is figured on the
more baarlsh II Will appear"
II. Il. Wood & Co. Of New Orleans
write: STATEMENTS favorable to large
crop yiold this Year are wholly at variance
with all advices pubic and private. thus
far received. Wilde we are not disposed
to question crop possibilities. estimates
should be based on the probable. and not
the possible The Alabama report just Is
Niod snys. Cotton looks sick, and while
the crop has been planted. stands SO far
are so uo9T that much Of II Is being re
planted Lou siand says Stands OF cot
tom as a rule are faulty, and some dying
out continues 10 he reported, ueceSS.tat-
ng reP.ant.ng. Worms also njurinG crop
This Information Is quite similar TO that
received from other sections of the cotton
belt, The next four months are apart and
distinct FROM the coming crop and WIN
be ruled by supply and demand more man
reported that a prominent h ar operator IN
New York has had the scales fan from his
ewes and $ now conYerg to the bull
SIDE"
Houston expects 30 to 800 bales tomor-
row. AGAINST ~ on the same day last
year. The estimate al New Orleans Is for
500 TO 1900 against 1911.
NV York May Observation-Disclosures
the stoadlncss Of a heavy rain, gool
number u buyers awaited themselves of
,htSorportunty 10 make good purchases
Of emi'stanle cottors for autumn az
count Purely staple co'tnns were In
moderate Dis mand. Fancy cotton and cot
ton anI wool dress goods Hid wen through
pletod was very larSe. Printing cloths
were hell steady at 9-i6 bid and de-
cline1 for Jun, contracts
New York May i3.--Hubhard rros. &
Co.'S COTTON letter saws The july pnsl-
i!on has again relatively improved. but
1t 3 probably 1uc morc To the demand
from holders buying aga,nst sales OF
squeeze, The shorts appear to be afr,dl
OF their position, and their nervousness
at the ahsorcc Of sellers has wilencl the
character Of the State reports coming TO
band by mail.
New York. Nav ls.--The cotton market
was exceptionally dull. sales total raach-
ing only 1900 haies. The scope OF tho
fluctuations were confined 20 a ullater OF
2 points on what might hc called the more
active positions. white some months
call. There was percen,!cly no outside
speculative interest. The market con-
tnued to be held chiatly by the firm re-
lnt,on Of the spot coiSon derlrtm. nt' IN
closing was qu.et and steady. from point
lower to point higher.
COTTON.