The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-14
COTTON MARKET REVIEW.
New York Futures Closed Fifteen
Points Lower.
HEAVY AND CONTINUED LIQUIDATION
Many Weak Holders Have Been
Forced Out Of tho MHrket-.Ioua-
ton spots Lower-Points.
Houston. Saturday. ~


Cotton developed further weakness to-
day aud press broke badly. selling of Ii
points at New York and closing barely
steady at tho lowest figures. Tho trading
was quite active. the total transactions
being very large for q Saturday session.
Tho weakness M the market was princ.-
paily due to heavy and continued i'auics.-
tion oil along the line by weak holders,
who have been hanging on to their con-
tracts for weeks On the hope that decrcas-
ing receipts and Increasing demand would
come to their rescue,
Today's decline unearthcd a large num-
Der of weak marginal accounts with many
stop loss orders and the forced sales OF
this cotton coming upon the market In
ats helpless condition resulted In steady
drop ZIP 10 tho close. Some OF tho old
bulls attempted to support tho market.
according TO Now York advices. but they
were soon filled up and forced to retire
The bears were active and naturally
pressed their advantages and helped the
llouodation.
New Orleans added s or q points to yes
ter,iay's deoiine on the summer months
though the fall positions only lost to 4
points. Liverpool futures were 2,a-din3-0ad
down and spots lost Lied, with sales or
only C0o0 bales. Tho American spot mar
kets were all weak and lower, the declines
ranging from Lice to 3-igc. The spot de-
mand is now much lighter than IL was
when prices were &c higher.
Although the general sentiment is more
bearlsh than for q hong time past, many
conservative operators believe that cotton
Ia scraping bottom. Receipts arc heavy.
1t ta true, comparing with an excessive
movement mt this tame last year. yet there
rs nothing to Indicate a crop over S.Mo,oN
bales. and with any improvement an trade
every pound of this win be needed. II Is
| not so much a question OF supply from
| now on as II Is a question Of demand. IL
| the Inter improves, the former VIII not
be any too large. even II II reaches $50,
| 600 bales.
| Al, today's session New York futures
| opened weak with 6.65 bid for March. The
| first sale was at 6.66 and from this the
price fell to 6.6l. closing ut 6.6lI6,62,
against G751G.76 Thursday. May sold al
CTS early In tho session, but dropped Il
6. 70 by the close. The fall months showed
a decline OF 3 to po5nts.
In New Orleans. March opened with 81
bid. sold down TO $50, then advanced &c
9. 40 and closed at Gi2a5A3. against 6,biu
6a2 Yesterday May began a, 6.5s, soi'
at 6.5l for tho lowest, advanced 10 80
and closed at 6,dud.e5.
Now York. February 10 "A grand rcrar'
te 10 unload long c1tton on me eau 70
suited In a decline OF 70 10 points before
tho a.sSion was out. The market CLOSED
barely steady nj the lowest point. WIN
total sales l253oO bales. Liquidation chie,
ly OF May and March contracts by house
With New Orleans and Liverpool conncc
lions was q feature. only few inei
fecltIal attempts to rally the market fol
| lowed the call The lower prices were du
largely to a decline In Liverpool over tn
Holiday of In4ly points. ascrlbed by pri
yide cables to the heavy movement o
cotton In this country and political com
plicetions In Europe. Traders and com
nis,ion houses showed some tendency lat
| In Tho session to buy on tho theory o
reacting and that lighter porN receipts
would result In handsome profits.
Cotton Points.
Houston expects 1000 to 220n bales Mon
day against 26i6 on the Same day lia as
year New orleans 1000 TO 5000 against ns''
Gilbert &, Co. OF New Orleans advised
CarryIi a. Richardson at l1;l2 a. M: Loht
iiouldation about over on any turthe
easiness thiiS, cotton a purchase.
d. Il. Cherry was advised by. ]; ~
| (;lennv a. Co OF New 0rleans: bivor
mol cables that her derline ts IN conFc
rrUencc III the bulls selling out their pur