The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-05
COTTON TRADERS BEARlSH.
The Belief Ia a Big Crop Seems
Universal
FUTURES CLOSED AT A DECLINE.
Loss of Ten 20 Twelve Point. -,
New Orlcans-iiouston spots
Are Lower.
Houston. satura,y san,a.,. ~
Office of The Post


houston, Saturday, September 4
For the first time In seven wears tho
worlds visible supply of cotton is less
than one million bales. The total ,,s,h,a
today is ess.oco. Never before IN tho co,,
try's history was tho world so aependant
UPON .he growing crop for its supply Of
oo''oi' as the consumptive demand has
M" reached enormous figures. Should
any rear disaster happen to the crop there
would be wild scramble to secure the
staple, and all adverse conditions of trade
would be brushed aside as II of no consc
| quence
But thus far nothing has happened to
convince the world that the. crop will DO
less than ten million bales. and traders
everywhere are acting upon that belief.
Liverpool made very poor response TO
Fridays advance on this side. and seemed
to place little credence In the crop damage
reports. The American markets soon felt
the weight OF the discouragement from
abnoad and closed at a sharp decline. New
Orleans was especially weak, tho loss
there being l0d12 points, New York's de-
cline was only 465 points.
There are hints of bull CLIQUE being
Formed In New York to boom cotton
values An advertising agency in that
city yesterday telegraphed The Post In
structions to insert the following in a
conspicuous position: BUY cotton and
hold 1T. 1t is the only cheap thing left .
AS the agency wished the advertisement
inserted with no name attached thereto,
The Post naturally declined it. 1t was
placed in one or two Texas papers, how
|
the South We're caught thereby. This
method of advertising is questionable, and
1t is hardly likely that 1t will induce the
outside buying that the origlnators arc
counting upon.
Houston spots were reduced 1-l6c today.
placing middling below cents for the
first time in six months. New York spots
lost &c. Sales in the South were of fair
volume.
New York futures opened quiet and
easy, with 7.12 bid for September. The
price advanced to us and closed at 71e
q7l4, against 7l7a7.I9 yesterday. De-
cember sold at 6.7s early in the session
advanced to 6.Sl, and closed at 6.77a67s
In New Orleans October advanced to
sos soon after the opening. but from that
price fell to GAG and closed at 6.s5a6 az
against 6.5eQ6.5 yesterday.
Better Speculative Demand,
b. w. Hunter & Co. were advised from
New York this afternoon: while the
trade almost without exception continues
bearish, 1t Is noticeable that there is a
gradual increase in the outside invest
ment demand for cotton based upon small
supplies everywhere and the fact that
cotton is about the only speculative com
modify which has not shared In the gen
eral Improvement. Until the volume of
the movement becomes larger than al
present no material decline seems tustl-
ned. Reports from Fall River continue
most satisfactory. The market Is firm
bids on the blsis of 2 BIS being refused"
Worlds Visible supply.
The worlds visible supply of cotton de-
creased $1,000 bales this week, against an
increase of $500 for the same week OF
last year. The present supply is 3s4. G2i
bales less than on this date In 1896 The
following table gives the supply today
and on this date in previous years:
1897. ........... 9S2,76l 1896. i ,367. 3S5
1895. ...........2 $40 1891. 9l3, 6Ss
weekly Interior Movement.
The weekly movement of cotton at 81
leading interior towns, according to the
Chroricle statement, issued this morning
was as follows: