The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-04-25
BULLISH COTTON MARKET.
The May Squeeze Working Success
fully at New Orleans.
NEW CROP AT A BIG DISCOUNT.
Large Decrease In tho worlds visi-
BILE supply of Cotton-Houston
spots One-ciShth Higher.
NEW CROP AT A BIG DISCOUNT,
once Of The Post .
Houston, Saturday. April "a.

Regardless of Grecian troubles and the
probability OF European complications
there has been a steady advance in all
cotton markets since last Mondays break.
In New Orleans there is evidence of May
squeeze, which has had the effect of BOOM
ing all the summer deliveries. May, June,
July and August advanced 10 points today
while the new crop months only gained 5
points. July cotton Is held at 7,2S in New
Orleans. but October can be bought for
Csc, discount OF 6l points. In New York
tho advance was 6 points on all deliveries
except September, which gained points.
Liverpool futures closed Il -64dIl6ad
up, and spots were advanced 1-32d, The
near months are the most active in Liver
pool. and the more distant tho delivery the
lower the price. Nay-Junes are held Mt
4,05d. but for December Januarics the
highest bid is sad. This Is discount
equal to 6S American points. The highest
price in New York is on August deliveries
and the lowest on October. the difference
being 81 points Liverpool and New Or
leans arc thus bull markets on the old
crop and bearish on the new. whiio New
York seems Indifferent all around.
All these differences tend TO twist the
chalk marks topsy-turvy and more com
binations are offered the scalper than cen
be furnished by the most accomplished
book maker.
The May squeeze in New Orleans ap
pears to be legitimate one, and Is being
watched with much interest. Monday is
tender day. and the bulls are expecting
sensational advance, while the bears
predict a sudden drop In values. There is
practically less than 100, 900 bales OF un-
sold cotton In New Orleans, however, and
nerve and money could easily control this
supply, Spot values are also strictly in line
with futures, and another advance OF l-l6c
was recorded in that market today. New
York likewise advanced spots Lice. while
Houston ana Galveston marked up prices
sc.
New York futures opened quiet and firm.
with 7.09 asked for May. The price fluc-
tusted between 10 and III for while.
then advanced to ia and closed at 7l3U
IA. against 7.c7d7 rs yesterday. August
sold al % on the opening. advanced to
~. and closed ut Z 2igl7 81.
In New orleans May opened with sales
at IN, advanced 10 20 and closed at 7la
al 90 against 7.o9u7.10 yesterday. July
soil at 7.li early in the session, but ad-
vanced to 1928 by the close.
Macy e. Pendleton Of New York write
in the following bearish strain: THE cot
ton market is likely to be depressed by the
same war news that will likely raise the
expectations and stimulate the purchases
OF spectators in grain and provisions.
Nothing is more harassing to a steadygo-
ing industry with ramiiicatloIs all over
the world than the continued renewal OF
war talk. European spinners are nor likely
to do anything, but work In hand TO
mouth way under such circumstances. Re-
ports from Texas both private and public
and those coming to us direct indicate an
prospects generally. We continue bearish
on cotton"
The worlds visible supply OF cotton de-
creased 95, 900 bales during the past week.
against decrease OF $4,000 bales for the
same week last year. The Chronicles
figures now show:
This
week. |
Total supply today ............. 3.0lp,sso
This date last year .............. 3,l3o, 1874 |
= Deficit this season ....... lzS,3)4 |
The weekly movement of cotton at 81 |
leading interior towns, according to the |
Chronicles statement, issued this morning.
was as follows: