The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-09
NERVOUS COTTON MARKET.
Traders Are Now Waiting for the
Bureau Report.
LIVERPOOL SPOT SALES LARGER
The Foreigners Are Buying at Home
and Negiecting Southern Markets.
Futures show Slight Changes'
Houston, wedneraay, September s.

Office Of The Post,
Houston, WedneT6ay, SEPTEMBER ..
English spinners continue to send out
doleful reports o, trade and are buying
very little cotton In the South. Their pur-
chases In the Liverpool market do not
confirm the.e advices, however, and would
seem to Indicate that the foreigners are
engaged in a sbrewd game OF bluntng.
Liverpool's spot sales today were l2Wo
bales. and this al am advance OF l-Sd.
, The stock OF American cotton there VIII
soon be less than 100000 bales. and IT may
be that holders will attempt to dictate
prices and thus force the foreigners to
buy their supplies in the South, even II
| they can not put spots on the basis of fu-
| lures. There Is very little cotton afioat
| for foreign ports both the English and
continental demand having been next to
nothing for some time past.
| Tho Atlantic ports ara steadily reducing
| their spot prices. Both Savannah and
| Wilmington were Mc lower today, the Sa-
| vnnnak quotation being G 9-16c for mid
| ding. This price however, can not be
| taken as a general basis for that section.
as 1t is understood that a considerable
| portion of the cottof. arriving there is of
undesirable grades-discclored or poor sta
| Pile. New Orleans reduced spots another
| 1-16c placing mddlirg at G7-Sc. Houston
closed steady on the basis Of 6 l5-16c for
midGling, with fair demand reported.
| The speculative markets showed Ettle
| more life al the Opening Of todays ses-
| sion. based on the Improvement IN Liver
pool spots. Liverpool futures closed prac-
| tically at yesterdays prices. New Or
leans advs need 2o4 points, while New
York gaiJed / point. Prices fiuctuated
| within O narrow range throughout the
| day. with no new features of interest.
The trade ts generally disposed to wait
for the bureau report of the August con-
dition. VIII Oh will be issued Friday at
noon. MANY operators believe that this
report will show marked deterioration
in the cron. Guesses are for condition
on September ! nj 74d7S, against 500 last
month and ca last year.
| AT today's session New York futures
opened quiet and firm with 7.13 asked for
| September. The highest sale was at 7l2.
and from this point the price gradually
fell to 7ol. closing at 7.02a7.04, against
7.0S yesterday. December sold at $50 for
the highes. and SIS lowest closing at
| 8. Z7(l6.7S.
| In New Orleans. December sold at 6.52
on the opei ing, dropped to 6.47 and closed
at 6.5Oa6.5l against 6.4Sa6.4s yesterday.
UnfnvorabIc Factors DISCOUNTED.
New York adv.t es by private wire to
| B. W. Hunter & Co. today were as fol-
lows:
The most unfavorable factor at the
| present time is tn, continued slack specu-
.atve demand which leaves the market In
a more vulnerable position and invites
attacks from the bears. Cotton has de-
clined to a point, however, which, when
compared with the market value of other
specniaiive commodities, makes It appear
| relatively cheaper. and. in view of the
fact that current crop reports Indicate
that the condition of tho plant has de-
Perforated considerably during the past
two weeks. 1t would appear that, for the
time being at least, the unfavorable fac
tors In the situation have been practically
discounted.
There Is outstanding n very extensive
snort interest. and, should sentiment I'M
dergo any change the result would he a
s,lbstantia! increase in the demand both
for consumDtion and spccula ton. While
the movement Is becoming relatively
larger than heretofore. receipts are still
cons denihly less than at the correspond
ing time Last year.
Crop reporis are OF such "A character n 8
to Justify the expectation that the bureau
report will be Rather rnfavorable one.
Atwood Yiolett, Lockwood & Co.
New York. September S.--Atwood Vio-
lett. lockwood ~ Co. say Of cotton: The
dlspesition of the market Is apparently
to improve with any encouragement.
There Is an absence of the efforts to de-
press prices which in the main have pre-
vailed for some time past. Both sides
seem to tase profits and small losses. The
market Is apparently shaping itself for
good turn one way or the other, and now
that October and November have resumed
Their normal positions in relation to later
months 1t leaves the field open for a good
advance. If the outside public, whose at
tentlon is stu largely confined 10 stocks
and wheat. shou,G take speculative no.
,oii 70 puV cotton. large movement
which Is not yet In evidence and slack
spot demand would bring about accumula-
tons in the South and this in turn would
encourage u feeling that near months
might drop to 6isc, On the other hand
the longer domestic and folNsgn spinners
delay buyarg, the greater VIII be ehe com
petition Tor cotton should it develop simul-
| taneousiy,
Stocks--'A very large business was dore
wr,h evidences of iiqu!Ga ton by one or
more heavy operators, but the bulk OF the
| business was OF genuine commission ma
| ture.
Favorable English News.
New York, September S.-The cotton
, market opened STEADY at an advance OF
Yea points on more favorable English
news than looked for, but almost amme-
ulassiy gave way under rumors of good
rams In Texas increased estimates for
port receipts and signs OF weakness in
the English market Indicated by subse-
quent ady,ees. Liverpool was a fair buyer
, on call, but turned seller on the decline
, New Orleans sold light this morning but
purchased the hate months in 4 small wav
" the afternoon. September was about
the only option that showed pronounced
weakness, opening at 10. an advance 10
AZ was followed by a steady drop 10 100
me late months improved In the after
noon on Hight local covering, started hy
reduced es@mates for tomorrow's port re-
: ceipts ana fears that Fridays government
report VIII be more bullish than had al
iirst been anticipated. The market closed
STEADY, with September 6 points lower.
october points lower and the balaAe OF
the list point higher.
Dry Goods Market.