The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-22
AUGUST COTTON WANTED.
The Price of That Months Delivery
Advancing Rapidly.
NEW YORK ADVANCED NINE POINTS.
Fail Months Arc sluggish and Adj
Vauccd Only n Point or So.
spots Higher.

Office of The Post.
Houston, Monday. June 81.
The hus made merry with the sum
mer sheets TODAY. and impressed unon
them the fact that the big crop looked
| for in Octoper can not be delivered io
| August New York had August running
ur hill all dav. and closed with an ad
vance OF . points. New orleans did not
| show quite as much activity. but man
ged to advance August points. while the
late months only gained II. points.
The action of the New York market to-
dav was evidently due to scare OF
tho shorts. The supply Of cotton in this
country is so small tina. July and August
deliveries could BE- easily Manipulated and
| the threat of squeeze seems to be the
| main fleece now at work. in two DAYS
August deliveries lsave advanced Il points
at New York, while December has only
gained 3 noints.
| II NAV he that the strength Of SPOT
| cotton is alone responsible for the In
creased activity. but many traders pr"-
fcss to believe that the strong statistical
| position OF the staple has at last attracted
attention The visible supplv in this
| country IS 10000 bales less than at this
| ;lme last year. while tho amount being
10 Indicate that tho invisible SUNNY is
,ext 10 nothing. The daily sales in the
| Leading markets are considerably larger
| than they were last June. and the fact
| that very few mills have shut down for
the summer would Indicate that home
opinion Will be In the market all of
| july and August. If oxnorters should
also make heir usual sumner purchases
/ 1a.t.
OIL the first of September is likely to be
the smallest ever known.
| The spot markets wes'e verv steady
again today and advanced l-l6c at New
| York. Houston and Galveston. Tho adj
vance at New York carried middlinG to
| rs the highest price that has been
| recorded in SIX months SINNERS and ex-
| porters We're again good purchasers in
| that market. and 100 bales wes-e delivered
on contrasts. The stock at New York
consists mainly of high grade cot
| ton. and Is being taken up RAPIDLY.
| New Orleans has only 2S,Go bales In
presses. and IT is said tina; only one-third
of this amount is of tenderable grades.
New orleans will receive less than 5000
bales in July, and not more than 200
bales in August. BY the LIST of August
sale in New Creans, unless the price is
advanced to point that will check the
demand.
The Liverpool markets were closed to-
day, on account of the queens jubilee, and
will remain closed until wcdnes Law.
New YORK futures opened aulet and
firm with August trading at ~. The
price fell to 7.a5 Immediately after the
opening. but soon began to advance again.
and during the afternoon touched T. -. Tho
closing was 7.43G7,44. against 7.S4l7 80
Saturday. December was rery sluggish.
and sold down TO 6.so early in the session.
The highest sale was AZ Cos, and the
closing s.92. against 6.90ftG.9l SATURDAY..
In New Orlests October began trad
iig at $50. dropped to $50. then adj
vanced TO 6.63. and closed at 6.6lq6.62.
against 6.6nq66 81 Saturday.
II. T. Woods & Co. New Orleans. write:
II is quite apparent that cotton. meas
ured by contributing factors, !s abnosmal-
ly low. nor does 1t seem less strong when
considered on its own merits. We will
enter another season with about 10000
hales for the worlds visible supply. whicl,
is the smallest in this decade, and over
c)o,co bales less than the average SUI
ply on September for the past 1--WE vears.
This small stock Will be supplemented
by a September movement Of about one
half of that OF last wear. thereby MAX
ing the total deficiency NJ 10 ocionor !
OF about l,c0o,eJ bales. Notwithstanding
this discrepancy and the further fact that
all outside conditions are Improving. we
2te expected TO believe cotton high at 6.c1
fer December contracts whereas they
have averaged on September | 1.25 for the
past flV" wears.
We are nearing the enl of juno; this
liz tt.
cotton wear. The highly improved CON
ai;ion OF is first half shows nothing TO
che creiit side OF the hsar We entered the
month with December quoted at ~ ari
they are now 6G4 This is not encourage
Ing 10 the pessimlst, espec.dlly as The
stock Ia RAPIDLY shrinking, The port
stocks ar" now about the same as on Sep
tember !, in cther words. we have dis
tosed OF every bale of ih.s ron. and ore
row ranldv eNpcriirg what We had on
] hand of he old one.
otc belief in 4 higher market becomes
stronger saeh day: and " dc not SEQ how
: az advance can be successfully ~esisted
when the article itself is forcing sentiment
AID not sentiment the article We strong
~ helievf In buying now. Tor when there
is a combination. OF both sentiment AMI
vslue, prices viii h materially hgner
than At present, Tho next crop. he il
good or had. has nothing TO do with mo
immediate situation, and pucchases made
safe and cor sentative.
one has hut little TO risk and much 10
gain who buys AuCrst contracts u cent
under spo. pr,ces especlallv when lie
lSnows that the stock on August / win
barely. II any. exceed one-th!rd what IL "a
now.
: New York, June 2i.-The dry goods mar.
kee openei weak, with an increased mum.
h'r of buyers at the market, and trading
was more snappy than has heretofore
. , been the case. The tone Of the market
IS fully as strong as 1t was last week and
in some cases afforded better oppor tunity
! for DEALERS, though not enough to war
. rant an advance In quotations looming
% houses also feel an Improvement todlv,
due 10 local and nearby buyers who Ne
Z succeeded in moving their stocks OF
i .Ni Sly ssaSonable goods with greater
rap,nhy IMAM previously, owing TO the
y srad,laI undertone Of Increasing hnsi-