The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-05
COTTON MARKET REVIEW.
A Loss Of Thirty Points Since Last
Saturday.
THE SPOT DEMAND IS SMALLER,
Light Sales I'm Southern MnrI<ets-Rc
ccipts Are Hcnvier-TcmpOra
Influences observation-disclosures.
Office of The Post
Houston. Thursday, March

1
! Sentiment in cotton trading Is as
changcable as April weather AT the close
| of last week the market was flooded with
buEish telegrams and predictions OF s
| cent cotton we're freely made Today, af-
ter n decline Of 30 points. there is more
| bcarish talk than for a long time past,
| and cotton has few friends. The stua-
| ton Is viewed through dark glasses and
| the Mckinley Inauguration did not scat
| ter the gloom. Prices dropped 10 points at
New York today and followed loss Of
| 2ha-6iu3ia-6id at liverpool.
Conservative traders think the market
Is in much better condition now and that
| prices are again scrap,ng bottom. They
say that Europe has about given up all
hopes of 100000 bale crop and IS be-
ginning to adjust itself to an American
supply 100000 bales less. Such supply,
with an average consumptive demand for
the last six months Of the season, will
leave practically no stock at American
markets on September !. Prices, under
such ~ contingency should be much
higher
Spot cotton was isc lower at Houston,
Galveston and New York today New Or
lsons declined Lice. The spot demand Is
much lighter than last week, though prices
are 3-lGuAc lower. Receipts are also
heavier. and temporarily there are quite
number Of bearish influences. Among
them Is a lack of speculation, a condition
which always eXerts a depressing influ-
ence.
At today's session New York futures
opened steady. with 7.o5 bid for May. The
highest sale was at 7.O6 and by noon the
price had dropped to 7.0l A further de-
cline was recorded during the afternoon
and final figures were 6.96d6T. against
7.07u7 0S yesterday July sold at Z. 13 about
the opening but dropped to 705 by the
close.
In New Orleans. May opened at 6.Ss
which proved the highest price of the day
BY y. IN a sale had been made at CSC
and the closing figures were 6.SOI6sl
against 6.STd6.s9 yesterday. July sold at
G.93 carly in the session. but dropped to
6.S6g6N by the close.
Houston expects 900 to 1900 bales to-
morrow, against 1851 ON the same day last
year. The estimate at New Orleans is
for :i0O TO $500. against 1706.
New York, March 4-Altogethor there
was fairly good new business in the
dry goods market, the result OF an IN
proved spot denTa nd that ARMED out muCh
better than expected. The orders weru
many and considerable business was real
tied thereon. The whole outlook Is better
and promising of Il large distribution by
the jobbing trade of the country. Printing
cloths steady at 2Ssc-
New York. March 4-The course OF the
cotton market today has been u decided
disappointment to many careful traders,
who looked for better CONDITIONS to follow
the strong statistical position and the
coitnued demand for spot cotton. Gables
we're very unsath Sfnctory, the SoutlIvn
spot markets weakened and there were q
good many private wires promising large
selling orders There was also an entire
absence OF speculative support. Liql!da-
ton lasted throughout tac session. driv-
ins piccs down l0ull points until the
market trally closed barely steady at the
lowest prices of the session. Selling was |
by weaker longs who were Unable to |
stari the strain on their elnargin accounts |
while the moro s.alwart holders addeu 10 |
their lines on tie break.
New York. March Hubbard Brcs. s. |
Co.'S cotton letter Gays: Large selling |
orders for the new crop have brought |
about a further decline In prices, and tho |
idea Is prevalent mat . prominene crop |
estimator will shortly Issue a circular call. |
ing attention TO this feature of the situa. |
ton a large croo is a necessity next |
season. The market Continued dun and |
heavy 70 the Gloss under tie fear of |
trouble in the Levant and the liquidation |
Of holders who became Dissatisfied at
the absence Of support They look for a
z .rt he