The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-01
COTTON MARKET REVIEW.
The Year Closes With Very Good
Advance.
SHORTS WERE ANXIOUS TO SILL.
Fort Receipts Were Below ExpcctR-
tiuns nnd ENports LnrEc--Frisny
and Saturday Are Holidays.



In the cotton markets by n substantial adj
vaace on both spots and futures. The
same thing happened just one year ago.
consequently the bulls Will now have 60
add the day before New Years to their
chronological table of lucky dates. On
this day last year futures advanced about
70 points ana Houston spots were marked
M Bloc, Today the advance wasn't 50
large, but II seemed big th!ng to tho
bulls. for they haven't been used to any
thing OF she kind recently. New York
and New Orleans futures closed u TO IA
points up. while spots were Lice higher
at n.arly all points aud isc up ut New
Orleans.
There were several reasons for todays
Improvement. In the first place, oil the
bcarish arguments have been seemingly
exhausted and are discounted by the pr cs
recently prevailing. In tho second place,
the shorts were scared by the small re-
coipts and thought 1t best to begin cover
ing. especially as two holidays Wal inter
ycnc before another session Is held. Then
again, Liverpool futures were rather bet
ter than expected. good buying orders
were received from abroad and United
states exports showed Big decrease
Cl,aranccs for Great Britain alone today
We're GO.ooo bales, and SO far this wct'S
United States exports have been ?2IoO
bates. against 10000 for the same tame
last year.
All cotton markets Will be closed Friday
and Saturday and no further reports VIII
be received unt!l Mondcy. Should re-
celpts In the next two or three days show
Il substantial decrecse, II ~ quite likely
that present prices VIII he maintained, II
not Improved upon. There Is nothing OF
a boom yet disccrniblo IN the business sit
uatlon. however. and this condition may
prevent cotton valiies from advancing to
the point 50 confidently counted upon by
many bulls.
At today's session New York futures
opened quiet. with 6.a3 bid for March. The
lowest price OF the day was Csc, and from
this the market had advanced to 7O2 by
rooa and on the closing call reached 1850
| 7.0G, against 6.aan6.aS yesterday. May sold
| at 7,0S early III the session. but advanced
to IN by the close.
In New orleans. March opened ut G.7e.
advanced to go by noon and closed at
| 6.S2uG 50. against 6.7ldG.72 yosicrlay. May
gold at 6.S5 on the opening and reached
| 6.9i by the close.
| Houston expects $500 to 1000 balce tomor-
row. against 42eS on the same day last
I year. The estimate at New Orleans is for
5000 to 1000. against aJi6.
| Hubbard Bros & Co. wired ". w. Mar
tn al 9;l6 Il. m; Believe dc,line over I'M
less receipts materially Increase Bear
! lsh Influences ecem exhausted"
| For the week ending today Houston re
ceivod s5,2lS bales of cotton against GO 400
last week and 900 the week before
plwln r. Vsolett of New Orlelns writes:
| 'The Receipts WIN be watched with much
| interest the coming tncnth ana VIII he INC
| u0tent factor In Shaping the course of
| the market. If we conclude that the cot
| ton movement this year has btpn equally
| RAPID with prevNnus early ycars-and tn 8
| seems 10 he generally admit odwe will
| tind the Indicated yield on ths bass 10
| b. S,35pWN bales as the percentage for
| the earliest five preceding years shows the
amount Of crop marketed by January TO
| average 76.5S. Estimating that there Will
| he 600 600 q sight December 81. VIII give
"A crop Of S,,1o.G3a bales the year.
Now. figures are often q Nceptlve, but
4 docs not seem unreasonable 10 consider
| that the percentage of this crop marketed
| is fully equal 10 that OF any preceding
| wear; the clrimess of tho crop Is fully
| demonstrated by the extremely heavy
| movement during the months of August
and Septcmher, and no cause has devel-
npcd 10 interrupt the movement, on the
| coatrary. everything has contributed to
Rive continuous flow Of cotton 20 re1lz-
| ing centars."
| New York, December sl.-'rhc cotton
market opened quiet and featurcloss with
little interest developing until some time
after the start when prices strengthened
on covering OF contracts for the two days
| holiday Better Liverpool advces and re-
| pors OF stronger srot inarkets IN the
| South. likewise brought in considerable
| buy inr Advces from Fall River of pos
| sihlc concessions In print cloths tended to
check this trailing to some extent. In the
afternoon the enormous exports for The
| day footing up 1900 bales, about Tho
| largest eNooris Tor u single day ever re-
ported. disturbed shorts and lcd TO con.
sMerab'c outside buying ALTHOUGH the
| At Il net advance OF II 10 10 points.
| Now York. December sl.-lIubbard Bros
& Co, say OF cotton: As the yoar draws
10 a close the receipts of cotton at N
tor,or towns have fallen to such small
proportions as TO caiec the trade 20 re-
neet. Local traders regard the improve
ucnt today as tho natural result of the
closing of the year and do not cone,der
| the decrease in the movement az .ndlca-
| tive OF the crop, The market closed firm,
without anything but reserved buying by
| tho traders.
New York, December Si.-Reporis 10 tho
Commercial and Financial Chronicle by
| telegraph from the South tonight. moi
cate that IN the Southwest ratn has been
quite general during tho week. but else
whore the weather has been dry. as n
rule. The movement OF the crop has been
quite free.
New York, December 3i.--Thc last day
OF the month ana year has bean extreme
| ~ inactive In the way OF purchases al
! though considerable business was com
| pleied as the result of deliveries on spr .ng
| contracts and the charging IN OF goods
| on memorandum. but otherw ae It was
dun. Printing cloths duh al s9-l6a2M.
COTTON.
HOUSTON DAILY STATEMENT