The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-17
Futures Lover 10 Both Home aud
Foreign Markets.
FLUCTUATIONS WERE VERY NARROW.
rransactions On . Limited Scale.
spot Cotton Mach Higher Than
Oontracts-Port Receipts.
Office Of Tho Poss,

wow oiituHS lNtuito ibst y W v pSihtcs ~ l
appeared TO be mainly case of dsy rot, |
with hardly any SPECTATORS wanting to |
buy and very few anxious to sell. Fluctu-
atoms were within a range OF points. the
highest prices being obtained on the OPEN |
ing and the lowest on the closing.
Liverpool futures were again disappc!nt- |
ing. closing 2.eid lower than yesterday.
Liverpool has been merely an enlarged
shadow Of New York for several days,
following that market on every decline
and adding a little more 20 II. Liverpool
also reduced spots J. a26f1-lGd today and
reported sales OF only 5000 bales
Tho Southern spot markets were not so
strong this morning. though auo,atlon
were generally held at firmcr prices. New
orleans reduced her figures l-idc oil
around. maleeng middnng S.N. the same AZ
the price prevailing at Houston. The
firmness of spots Is a strong feature OF
the market and Is in great contrast to the
weakness TN futures. March contracts In
Now Orleans for Instance. wore quoted
at 6.M on the closing call today. or IL
points lower than middling on the spot.
May contracts could be bought for 6.9i.
the exact price OF spot cotton.
Port receipts today were rather heavy
and both the interior and port movements
are expected to DO large Monday. New
Orleans expects 10000 to 1900 bales Mon
day. against 77i2 on the snsne day last
year Housgton's estimate ~ for 1900 to
400. against 2i59
At today's session New York futures
opened steady, with March selling NJ 7.04.
Tho price soon fell TO 7.0l and iluctuntcd
between 7.oi and 7.05 for some time. The
closing was at 70oal Oh. against 7,0iu7 O5
yesterday. May sold at T.ls about the
opening but dropped to 7.l3 and closed
at IA.
In New Orleans March started at Csc,
sold MT 6.Si soon thereafter. but closed at
6SlQ6s2 aga net 6.siQ6.S5 yesterday. May
fuotuafed between 6.s5 and G.96 for the
frs, two hours. then dropped 80 G.93 and
closed at 6,93aG,94.
j. C. Harvey. ]. l.. Powell and j. IL.
Spann of Ennis wcro visitors ut the Hous-
ton cotton exchange today, being extend
ed the courtes.es OF the floor by Secretary
Kidd.
Edwin II. Violet, OF New Orleans cw-
IDENTIFY does not think the situation of cot
ton very strong. HIS last letter contained
the following:
Adv.ces from various sections OF the
cotton belt are coniirmatory OF an al
vancai state OF preparation. and farm
work as said to he further progressed than
ever before experienced. To adapt the
movement to some of the recent crop osu
mates, the receipts FOR the balance Of the
ecason must I've "A complete realization o.
the long pred'cled. never occurring per
penth!clrar failing off"
we have now in sight. ............. G,foo.00O
Brought into sight after this date
last season Observation-Disclosures. lWo'cp
rota, $500. 900
So from this ON we would have to lose
900 bales to bring the crop down to the
several estimates recently made public.
Heavy exports are by some cited as
reeson of strength. 1t appears to us 9TH
erwtse. for lf prices fan 10 improve W IN
this export demand. what would they be
have new features. Oli men discuss the
past, young men the futnrc: the passing
crop may he interesting as n historic relic.
but the coming one Will engage the atten-
ton Of trade.
Now Orleans. January l6.--Hugh r. Nc
Elroy says: In the absence OF any out
side speculation prices have softened
somewhat today. Liverpool closing 2-6id
lower and our market points down. The
situation is daily improving. but the bulls
lack Moses to captadn them and head
them out of the desert into the prombed
land. that land OF prosperity of which we
were told SO much before the election.
Tho delay in the day OF delvcraiIce must
not discourage us. as we have presented
to US today, in II. G. Dun & Cos weekly
BUSINESS Review, az exactly parable. case.
which mu$t inspire US with new strength
and confidence. 1t was In 1879 that the
greatest burst OF prosperity. after q long
rertod OF depression was ever Witnessed
In this country. When tho resumption or
specie payments began ~ 1872 everybody
looked for an immediate boom-jnst such
n ne
our recent election had quieted, Tor four
years ut least, all serious agitation Of our
financial system, BM Two duil months ans
confidence faded ana hope died away. only
10 be restored and resurrectei by a penod
OF prosperity which extended TO all hns
OF business.
Conditions at the present moment are
very similar 70 those gresei4ng me no9n
and ', we have fs St the res, III dsappoat
ment so keenly that many of us have been
blind TO the slSae OF returning prosperity.
One Hcm alone is sufficient to OPEN our
We have sold to tho outside world home
products dn excess OF our foreign pur-
turn for them to the extent Of sS26, 900, 900,
Before the election an immense amount
OF capital was Withdrawn from Invest
meut and circulation. fearing some imam
mente1 by the great returns, from our
bo,@ttful exports. rs now seeking fresh
NeldS lOr Investment ana csIpioyine1i'. 10
It any wonder that We should look for
ward to bright future2 Already the iron
trade that pulse OF the Nation, has large
" Increased. and other Zines WIN not be
slow TO follow. Talk Is one thing. facts
are another, There has bean a great deal
OF talk lately about shutting down cotton
mills or going ON short time. but none
have closed or reduced working hours,
and the only fact received " the reopcrng
OF one moi which had been Idle for sew
eral months.
Money is plentiful but cautious, and the
confidence which "a now returning In the
only element needed TO start the country
ON a we've OF prosperity. Cotton has al
ways shared fully In the benefits OF such
u movement: what reason os there to I'M
agine that history VIII not repeat itseifY
New York. january 1.-THE cotton mar
kct opened steady with prices about I'M
changed on the CALL being supported by
a leading firm with q general Southern
connection. Soon afterward the inherent
weakness OF the market was developti,
cables, pubic and private. being unsatis
fact,ry and receipts threatening 20 go
much beyond the estimates originally
made for next week Business was almost
entirely confined TO the liquidation OF
March and May contracts: otherwise tho
market was dull. The close was quiet at
q net dec,.ns OF 4g5 points.