The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-31
BllON MARKET REVIEW.
|sofIsh Ssatineat Prssails go
Pflcss Are Depressed.
ST. YORK FUTURES CLOSED LOWER.
Once Of Tne Post.

Houston, money! August ."
E4Aers sre stili two sides to the cotton
[erket. though the bearish sentiment
-t6ras 10 dominate at present. The short
y steadily increasing. and this
an be 1 grcat cid in advancing values
tzserever anything happens TO Indicate
w the cr1p Is still subject TO great cur
[:dlnent or that the demand Is sufficient
Il abeorb the staple as fast as It comes
rom tho fields.
Stldacy 4 Pendleton OF New York tnus
ihalyxe the situation: 'rhe whole theory
n the COTTON market is as simple as A. u.
Il Il amounts TO Just this: Nobody has
NY cotton except the farmer. VIII he
i've II up 10 exporter and spinner at
,snt less per pourd than 1t is now selling
ErY the proposition Is absurd from
bmmeroal standpoint. Nothing but
ing confirmed experience in short selling
firing a period when everything the bears
s.id had to go would cause even confirmed
bars TO think OF selling Vt. II Is habit.
fiae whole Industrial interest Is now
barking up or preparing TO mark up its
ftoduct, and Il IL absurd to suppose the
ilrmer VIII fail TO get his share OF the
ilices caused by tho changed conditions
n. the cotton bears think they are likely
N have their own way, let them study
'.,e movement OF wheat closely"
pI.tyerpool closed at q slight advance to-
NV. but New York showed loss at tho
,sose. Spot prices were reduced Lice at
houston and advanced 3-l6o at New York
New York futures opened firm, with
IA bid for September, At the noon call
,aere was an advance to 7.2sd7 30, but at
IA, close pric>s had recedcd 50 much as
u lose the advance ond were quoted be-
,,w the opening fignres. December open
IN ct G.S3d6,S; and remalred steady and
snchange, una after ths rcon hour,whcn
began to lose ground and closed at
Ll77Ge 7S That some che Is short on Au-
Inst was again evident. Although today's
ilosing IN every month vas below the
.atnrday citsc. August opened with II
Mint advarce and lost OILY points dur
-ig the day
f.Now orleans futures showed an advance
,f 2 points all around, except September.
t,hoh closed Q points above Saturdays
sssures. September however. Will soon be
pot cotton.
!, Houston expects tl.So0 to 1000 bales TO-
siorre W. against 1884 OH tho same day
,st year.
LII T. Woods & GO. OF Now orleans
Write: Much montion has been made OF
tao similarity of this August and that al
li.a. and. reasoning from these false prem
5ies. tho conclusion Is, another hamper
iecp. TO illustrate the similarity, or
Gather dlsslIhlarity. Ct tho two years. we
Mve the following data from ofnclai
lrrccs;
~ 1894 1897
seaton belt rainfall August ......G.3g 42l
eHas rainfall. August .,........,,.6.H 2.@
( sHaving officially shown the fnlacy OF
ais comparison. we would suggest that
ae most crrsory examination would show
Mat the crop was not q very large one
hillside OF TEXAS. and that Texas had
cavy prAclpltAt on during Tho month OF
sgugust and m to the middle of Septetn-
sser, and that this moisture, together with
II unprecedented,y late killing frost. on.
! bled her TO make n perfect top crop
: pereby adding n full mAllion bales to hei
isgitput
| ,irhe crop outlook does seem unauestion.
,fyoly a good one, hut all good boys do no
!, ecome perfect men,
y The coming month gives promise OF
{.,ee movement. and II II meets n stag
s'hnt market such as che present. its ~
oct VIII prove disastrous, The statlstica
, srength of cotton has III mowise abatcd
i AT we need demand as well as facts I,
n fvive and inspire the market with NJ
4 nj activity.
sAAli OF our facts and predictions IA L
ltslble supply have fairly well material
4 S.ed, but we now have a be.llhful pipc
machinery without motive power. am
tsnless this Is supplied we can not expec
I = accomplish much.
( Trade on the continent Is very ascout
81 Hg, >cah,es gNc no ENCOURAGEMENT a
Sr,vival OF the 0etton tiade: sentiment o
i lfs side Is bullish. hut Liverpool tn
4 ghtnarc OF which we dream ana unit
\ OF expect mach higher markets on thl
de.
4 New York advioes by private wire /
~. w. Hunter 4 Co.;
! Despite the rather disappointing charay
Sssr of carly liverpool adv!ces our maj
/ ct opened with better feeling appai
sat. Further strength watch developed
tugust at the opening. with ain advance Q
: points over Saturdays close, was larg,
Z responsible for the firmness through
III the baianee OF the list. The mark,
/ gls been less active than during the pas
i fseck hut a linitrd veSume Of outside buN
I sAg orders continue TO be received I'll
4 Weather South is reported as rather III
4 svorable and the sharp fall In temperl
are In Minnesota, WISCONSIN, Illinois an
\ Michigan OF from l6 TO 26 degrees was n,
i fitlpout erect. owing 10 possibility ~ IN
\ pSa wave extending 10 the south,
iinnesola the freezing point was reache
7 his morning.
ll,nere hus been a fair demand from n
4 mort interest during the morning, an
hverpool also sent buying orders
laiPCrt recelpts continue TO run conaidel
by under last year. today's arrivals i,
X 1g estimated ut 1900 against 66s6 In.
feek and %.Sf0 last year. SO far ~ n
y uTust squeeze is concerned, a furth,
tvance IL possible before she short lnte
!; y has been entircly liquiSlateu, owing
no inipossibility Of ohlainins the ooIto
ar delivery on contracts, September
u resent Is sellng absat Is points una,
I Ne price OF spos here. This rather al
oruai difference must be adjusted elths
!, ireugh an advance in September or
4 es snc Ia the market vakn of spots.
& The dfstoitt positions Will be eoyarne
ii a great extent by the weather for III
ext few weeks, Meantime. future ma,
: sss are compelled to absorb The offerins
hich represent hedges against purcl,as I,
A I actua. cotton N the South. Should N
Gather conditions ccnNinue favorabl,
rtces may therefore ease or sonewha
I Naxv finds