The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-27
COTTON VALUES ARE LOWER
Liverpool Failed to Make the Ex'
pected Advance.
NEW ORLEANS LOST TWELVE POINTS
The september Option Was Kept
bouncing IN and Down Through
out the Day mt New York.
Office OF The Post.
Houston Thursday. August D.

enthusiasm today. advancing only i-o4o'
The bulls were counting upon a gam VI
at least 5-eid and the d-saprointnea'
caused a lower opening In the American
markets. Part of the loss was recovereu
early in the session, but another decline
soon set in and final figures were oaK
points lower than yesterday at New Or
leans and 5ollO down at New York.
The September option was kept whirling
nm and down at New York today, touch
Ing ia shortly after the opening, ad-
vancing to 75o ir less than two hours
| II ereafter. then down to 7.42, back to 74o
and finally selEng at 7.S7 just before the
close. There is evidently good grounds 10
fear manipulation In the coming months
delivery and the shorts are pr"ectins
themselves. 1t would be very easy to ad-
vance September TO cents in New YORK
within the next two weeks, Though de-
| cline in the market as a whole may pre-
| vent this attempt.
| The spot demand for cotton remains I'M
| satisfactory, and the discount on futures
| 10 still such as TO prevent any successful
| hedging of purchases. Large receipts are
expected here next week, though the
movement can hardly equal that seen at
the same time last year. 1T is very EVIL
| dent, however, that Houston's August re-
cepts will reach 5000 bales and that the
| September movement to this place Will be
| IN the neighborhood of 100000 bales. Inc
| demand Is also expected to show big
| improyement next month, as both home
| and foreign sltinners have kept out of the
r,arket during August and have no doubt
let their stocks run down to a low point.
Manchester and I.sl.cas.h5re spinners are
| again sending out dolcful reports in re-
gard to trade. and similar advices are
| being received from continental firms.
These reports are generally exaggerated,
| however. and it may be that the foreign
IRIS will soon be active buyers of the Amer
| lean staple even II prices do not show
the decline they expect.
| AT today s session New Orleans futures
opened barely steady, with 6.62 bid for
August. The price advanced to go, but
fell back to 662 during the afternoon and
closed at 66on661 against 6.72d6.73 yes
| terday. December sold at $40 for the
highest and 6.6l lowest.
December IN New York opened with 6.92
bid advanced to 6.97. then gradually fell
to $50 and closed at 6.9od6.9 against $3.50
| 7.o0 yesterday.
Fairchild & Hohson's cotton letter by
private wire to b w. Hunter & Co.:
New Orleans. August 2e.IThe opening
in Liverpool was highly disappointing, as
an improvement was due to meet our ad-
vance of yesterday. Our market at cts
opening so sympathized, but soon devel-
oped steadlness, which brought prices
at one time With, a few points of Tues
days closing. After the buying inquiry
had subsidized. values eased off, establish
ing a new low record for the day
one fact is becoming apparent and that
is that with each Improvement there is an
increase In nervousness and a correspond
Ing Discrimination to sell 1t Is only on
breaks that we see any manifestation of
boldness and free offerings of contracts
| This characteristic is not confined how
ever. to the bear side of the market. The
bulls seem equally averse to cheap cot
ton and only become anxious buyers ON
a hurrah market. The market has. how
ever. developed Its ability to get out of
odd ruts. and a broadening for the near
future seems quite likely.
4 Considering the limited spot inaut,ry
contracts may be said to maintain them
period when increased spot activity may
BE- expected. and this Will doubtless re-
Meet itself in the contract market Cotton
eommenclng to engage more attention.
as speculative cosnmodity as Western
products have shown such violent nuctua-
Tons one way and the other as to render
capital timid. and complaints of rust. rot
arf shedding are becoming more numer-
GUS: but clearing weather counteracts
tnelr influence. We will likely have 20
point fluctuations. according to weather
'ndicat1cns. and parties avail.ng them
selves of easy periods on the one hand and
firm ones on tho other will probably reap
tli mat there is on the market until there
be some pronounced crop or trade deyel-
opment TO shape the course of prices
New York advices by private wire to b.
w, Hunter & Co. today were as follows:
While the relative strength of August and
September positions are attributed to ma
nipulation, the situation here certainly
lustiiies the advance for the reason that
ne sucks are small here. there is a golJd
demand for actual cotton for Eastern
splnners and II is practically impossible To
! .rMehsh our supplies. owing to the late
ress OF the crop, all of which makes pos
sioie u natural corner Facts are = Nh
corn things, end the strength of the i'm
z Itself. ''''''
New York. August 26--Atwood Violet
Lockwood & Co. say of cotton: While
urices declined today. the abnormal d,ffar.
ences between spots and contracts are
|
relatively greater strength than later DO.
sftfons and confirm our opinion expressed
yesterday. Europa says. I'VE know ths
crop Will be 1880 600, as we have been So
tlNised bv undcubted authority We wifi
await marketing and IN the meantime RIM
| along from hand to mouth" II begins n
'Xok as though the cotton producer had
inherent IDEAS as 10 the extent Of Inc
crop; and. IKE wheat farmers, would tax,
ilis t'ne and market IN h0meopa THO d Isl !
ne movement is much below last YEA
anu probably will continue so for the nex
S,X.y GAYS The feature here is the large
PURCHASES of September because on small
stock-now $500 bales nearly ali of I,
owned by one interest-and no early nros'
peSts or adding To It, but the contrary.
Stocks--The market stiffened percent. hlv
before the closing. Railroads are com
menclng to reflect incoming good times h,
aisp,ay of Increased earnings. We hea,
mat the Rock Island Is booked Dor 90 he.
lore the closing OF this week.
New York, August 8-The dry goods
market Is active, with many buyers nres
ent in both the first hands and the ion.
bling markets. The tone was Arm In al