The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-09
A Sharp Decline In the Speculative
Markets.
T IRED LONGS LET GO HOLDINGS.
Big Drop In liverpool started the
Drcnk-Twcivc to Thirteen Points
We're LUst-lIcavy Receipts.
Office of The Post,


so tired out and disguised with the ac-
ton of the cotton market recently that
they made very little resistance to the
drop in values. The long liquidation that
began Saturday was kept up this morn
ing, and as n result New York and New
Orleans futures show decline of IS points
for the two days The total loss at to-
days Session was about IL points. though
| the active months at New York were 100
| II points down at one time
| Liverpool was doubtless the main facto :
IN starting todly's break. Futures there
were S-Giu3h Gid off on the second call
| and closed 4-Ci lMii2-6id lower than Satur-
| iav on the near positions, while the fall
months were 3le-6id down. Liverpool
| spots showed a decline OF i-l6d with sales
of 5000 bales.
| Another feature that helped to 1eprcss
priceo was the large movemenh of
| cotton to ports. receipts for the
Gay being 1000 bales, against b.
900 on the same day last year.
| the interior towns also had a much larger
amount than heretofore lending emphasis
to TIE belief that last weeks big de-
crease was due more to the weather than
10 any exhaustion of country stocks
| During the afternoon the New York
market became very steady and recovered
a few points of the previous loss. This
was generally attributed to a Fall piver
| telegram, which stated that the Borden
print works had bought 10000 pieces of
prints at 9 9-l6c.
While today's break in prices proves
that the weak interest in cotton was on
the long side. It is hardly believed that
the liquidation will go much further as
the trading has been entirely too light re-
Gently to create very much of an interest
one way or the other.
New York futures opened steady, with
go bid for March. and sold at So for the
highest. From this point the price grad
ually declined until 6S3 was reached Dur
ing the afternoon March advanced to 6S6
and closed at 6.S5QG.s6. against 6.99a7c Sat-
urday. May sold at 7.O6 early In the ses-
sion, dropped to $50 and closed at G,99dlTc,
against 7l2a713 Saturday. August was
II points lower, while the fall months
showed a decline of to 10 ponts.
In New Orleans March opened at 671,
tell to 665 before the second call sold ait
$50 during the afternoon and closed at
C.e6No67 against 67SaG.79 Saturday. May
was quoted at SIS shortly after the open
ing, but fell to CTS.
The American spot markets were gener-
ally l-l6c lower on all grades. though
Houston quoted prices unchanged, with
niddling at &C.
Mr. Ellison, the English authority. esti-
males that the cou 4 Yield in America
Tor 1861 will be s.Gj0.u00 bales. For the
So 1871 he nl1res tbe 40 ,ra 90 ~ ,n,
at 4,5S2,OO bales of ordinrry weights. made
up up Of S,S59Voo bales from the United stn'os
t.ll ~.
bales from Eevnt ana "a onl inv o su
smyrna. Brazil West Indies etc ''''-
on the basis of these es ,t' the COM
at the dose Of tho seaso1 ~ ixoc o. ~, ope
only sos,oo bales of 500 pounds each, q, or a
20 lSss ,n nj ,iMy naieS s. from September
from s95. In fact not P s,nco iSs; pates
reduced ma ks IN, IL o. nee'i So
'''''ON'e9' !
New Orleans Enhr,orv ca,.o.,
Hester has lust issued s.atom'ant ' an
ayZnE the movement of the cotton cr,r
for the hrst five nonths ~ 49, ,. .,on
season. saw from santa,,',o ~ .ne present
OF january, inclusive, compared W tn the |
previous three years. He shows thai the |
of Ttxa uei baa OF cotton from the STATE
i,oS4 1913 last year, AMI 2,7Ss,sG7 the year
slght. which includes Interior town stocks
ra lw,sv re,nrr 9ep.eiiil-.r !, as shown by |
groups OF Satss has hnon l,, Us OF the tnree
az. 22SS ST N Other -nif i,,,-,oif ~ lex
$40 IN Atlantic STATES IN 80, r,r.es ana S'ssi-
compared wl;h last year ,e 81 - ~ ~ l~Nas
crease under the wear basora a. 1e &c,
ana an i.crease over ia. ~ ~ tns 9r o. W'Wa
crease in other gulf staioe =, 80 is an IN.
last ya,r: decroa' ,'" ~ % 81 '3So'o over
wear before last and an IL !, las ud 10 r., me
over 1891: an increase ',,1'e ~ oi t",s,H
States az $50 Gqs 49,. - ~ liie Atlantic
of 81 267 under fhe year hc fer. aeeIease
increase OF 10 3l5 6ver ia. hts' ana an
After the close of 1 1,'i
ment in sigh a, the I'LL I.'r f me move
past three wears was w.. Siouis n ~ the
an3 n,'r o'i,o-'' year before last 495.5ll
before last 70aag7 ,n n A.; VA AZ tonSn'; year
the latter 4Oi. 7Ss; Atlant ~ se year pelone
;nS efnr. ya'r before, last 6Sl,SOS and year
The proilps "a. 1 ofovo ,, s..s 1900,
first. of Texas jnrinJnc Ir,, ion'm cons
second, other ci,iIf u ~ lheaan Ierritory;
kansas. I. nmis,o lr,i n NIfaSes embracing Ar
Mls.otIri a Nd ~, W. .sslssPpl tennessee,
+