The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-17
COTTON MARKET REVIEW.
A Further Advance In All Specu-
lative Markets.
AMERICAN TAKINGS ARE INCREASING
Northern Spinncrs Are Purchnsing
Frccly-Advnncc OF six to Eight
Pointsin New York Futures.


The bulls had the best of the game again
today. adding to 0 points to the advance
made yesterday. The iirmness and higher
prices at Liverpool in the last two days
have been mainly responsible for the bet
ter feeling on this side. Liverpool was
li5-6idaS6id up on futures this morning,
and advanced spots Lied. This was con-
| sidered an Indication that the Brit.shers
do not regard the Cretan troubles as of
much Significance and the American mar
kcts were quick to respond. New York
advanced tho near positions to points
snd the new crop 5 to points. New Or
leans showed gain of 4 to points.
having lost a point or so towards the
close.
The speculative markets are now ?S
points higher than the lowest quotations
recorded last Saturday. Spots have not
advanced in the same proportion, but are
still above futures having failed to re-
spond fully to the recent decline. The
spot demand is not as active In the South
as 1t was week or two ago, though the
daily sales at New Orleans are very large.
New Orleans advanced spots 1-16c today,
rliddlng now being 1876.
A favorable feature OF the market Is the
increased demand from Northern spinners.
Up to the lst of February they had taken
less than during the same time last year,
but during the past two or three weeks
have bought freely and the total pur-
chases for home consumption now show
II slight excess as compared with the
same time last season. The European de-
n'and continues quite active, though not
as urgent as in the past month.
At toiays session New York futures
opened steady with $50 bid for March.
The price Tell to e.7l. but soon began an
other upward movement reaching $50 by
noon, ana closing ut 6.S3a6 81, against 6.7ifp
G.Id yesterday May sold at Gsl early in
the session, but advanced to 6.95 Before
the close.
New Orleans futures opened with $50 bid
for March, fell to $50 then advanced to
6.6l, and closed at 6.59n6.6o. against G.55d
SOC yesterday. May was offered at 6.73
during the forenoon. but advanced to GA
by 1.25 p. m. and closed at 6.724675.
Houston expects 1900 to 1900 bales tomor-
row. against 2o3l on the same day last
year. The estimate at New Orleans is
for 400 to 5000, against 500. This d.a<r last
year was Mardi Gras holiday at New
Orleans.
New York, February 16.-There was
further roundup of the cotton shorts 20
day, resulting In an advance of Toll
points. with the market finally steady ut
Il not g,in of 5u9 points. Total sales
futures 1S5,loo bales. The advance origin
ated in y better class of cable news than
had been looked for, which was followed
by less satisfactory English adyices,
which resulted in partial recession. Still
later. however, the action of the market
Was positively strong on final cables. In
>eStment buyers have been CONNECTING
with shorts, more or less freely, through
out the session. Favorable reports from
Fall River and firm advices from South
ern spot markets also contributed. Vile
inovem.nt OF cotton at the ports was not
large, and also led TO some anxiety on
the part of shorts.
New York, February l6.-Hubbard Bros.
x Co.'S cotton letter says: the feature of
the market has been the strength of Llv-
erpool, which our cables .eil us has been
due to continental buying on account of
the disappointment OF traders at the
movement OF the crop they have waited
50 long for and the evident Improvement
IN trade. which is opening the mills In
every direction. The closing was at the
highest prices of the day. our marker had
4 steady tone. and our later cable from
Manchester states that spnners there are |
seiiing their yarns without having secured |
their cotton. The local feeling is s,tiu
bearish on the belief that the market has |
not yet changed ito tone.
New York. February l6.-In dry goods.
although lessened demand is expected
for Tuesday, the actual saes effected by |
commission merchants We're larger than |
Yesterday and included a hetter business |
IN staple cottons than FOE some time, as |
mnch of HI was completed by the aid of |
long distance telephones. A raft OF buyers |
qrn IN the market and late in the day |
Jopoefs We're able TO report an improving |
qNotd OF business, with much more In
sight. Printing cloths quiet but firm at |
INV ttd and no spots on hand at Fall |