The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-28
COTTON MARKET REVIEW.
Futures Advanced Ten Points in the
American Markets.
SPOT COTTON AGAIN GOES HIGHER
Large Sales mt Liverpool anI In An
the southern Mnrkcts-Thc Bulls
Are Now In Control.
Office Of The Post.
Houston. Saturday. February OF

AAouStou, odtuTudyS
cotton continues to gain friends and
there are now predictions OF prices TO 9
cents higher. Two weeks ago bulls were
throwing overheard May deliveries bought
In New York at CTS. Today they are
scrambling to get them hack so points
higher. There were plenty Of bears two
days ago. when cotton was iac cheaper.
Now bear is hard to find. except on the
new crop deliveries. The fall months are
being sold right and left but very few
operators are anxious to offer August cot
ton even at the sharp advance that has
been recorded.
Some OF the bulls took in profits today.
causing prices to start off rather sluggish
ly. but this could not check the advancing
tendency. BY the close New York had
added or 10 points to the spring and
summer months. while the fall deliveries
advanced points. New Orleans gained 10
points on the old crop and to G on the
distant positions. Liverpool started the
Improvement on this side having opened
up higher, although n slight decline was
generally anticipated. Futures closed
1-64d41 u -64d up. and spots gained 1-S2d.
Liverpool spot sales were $4,000 bales
This was something startling for Satur-
day record and when added to yesterdays
sales of 10000. gave the cotton pessmists
a decided setback. There were also large
sales in Southern markets. and prices
were advanced 1-16d1-sc. Houston mid
ding is now quoted at I Slice. though
nothing could be bought this afternoon for
less than re.
The worlds visible supply OF cotton Is
now only S23. 600 bales. having decreased
10000 this week. The supply is just 80
600 bales larger than at this time last year,
and 81 900 less than on this date in 1895.
At today's session New York futures
opened steady, with I1S bid for MAY. The
lowest sale was at III. soon after the
opening, and the highest 7.27. the latter
being the closing figures. August opened
at 7.29, but advanced to 73s by the close
In New Orleans May opened with 6.ag
bid. sold down to Sos, but advanced to :. Oe
by Hos and closed at 7.O707Os, against
6.97G69s yesterday,
Houston expects $500 to 200 bales Mon
day, against 1884 on the same day last year. |
The estimate at New Orleans is for $500
to 5000. against 2766.
/. E. Glenny & Co. Of New Orleans wired
d. b. Cherry: Liverpool cables that The
Manchester market is steady. but the |
actual business not equal to the produce
tlon. Probation business extensive. Spip-
hers still very short. We think splnners
mold very small stocks of cotton. our
best merchants think favorably of cotton.
Hugh +. McElroy Of New Orleans writes.
MI Pa1ch of Havre. in his latest circular
scores very good point He points out
mat at the beginning of the new year
prices were about at the same level as
those now ruling. At that time, splnners
were apparently convinced that the crop
would be fully 100000, and they were
also practically sure of 700 600 bales from
Bombay. As far as the American crop is
concerned, 1t is now generally conceded
that it will fall fully 400 900 bales below
the estimate then ruling. Bombay. owing
TO the plague, will ship 100000 bales less
to Europe than originally expected. When
the great change in the prospects Of sup
ply is considered, it is certainly remarkable
that prices should have remained un
changed and this comparison adds further
strength to the position of the Bulls"
secretary Testers statement OF the
weekly movement at thirty ono leading
interior towns was issued inis morning,
being as follows,