The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-02
COTTON MARKET REVIEW.
New Orleans Advanced the June, July
and August Options.
NEW YORK SPOTS ARE HIGHER.
sales Included Ten Thousand BALES
Delivered ON Coutrncts-BulItsh
Letter From New Orleans.
Ofnce of The Post.

houston, INcSldN, Julle L.
LIVERPOOL nut her contract market down
ia64d and sold only 1000 bales of spot cot
ton. These were bearish features ant
caused n weak opening on this side. Then
Liverpool began buying our summer de-
livcrles and the weekly weather report
from the cotton heh proved much worse
than expected. These features gave New
York aud New orleans u bullish turn ana
thev advanced prices a few points. New
York closed iGs points up, while New
orleans showed an advance of Sao points
on the summer months and ranged from
unchanged TO l poin, up on the distant
pcsilsons.
The strength of June, July and August
deliveries was quite noticeable at New
orleans today and was In the face of an
extremely light speculative business ana
small spot sales. July touched 7.2S and
closed with that price asked. The same
option could he bought for IT'S on the
hnal call at New York. The New orleans
price Is either % points too high or this
New York price % points too low.
New York advanced spot values sc ana
reported sales of 1l.722 bales. OF THIS
amount l0i0a were delivered on contracts
Northern spinnors took 1856 and expor,qrs
6S6 bales The purchases by spnners IL
that market are quite large each day and
seem to substan;iate tho belief that
Northern mills have very small stocks OF
cotton. As there has been no shutdown
thus far. and production continues ON
large scale il is quite evident that manu-
facturars have faith in an increased de-
nand for goods later in the season. The
bears contend. however, that the mills
are merely running TO their full capacity
now because they know a general cessa-
tton of business Will soon be inevitable.
In the meaw,me, the American visible
supply of cotton goes on decreasing fully
as fast as amy one expected ana there is
no reason to suppose that 1t VIII no: be
close o the vanishing ro.nt before it be-
gins to swell under the movement of the
new crop.
AT toiay's session New York futures
opened quiet and easy, with AugusrPtr trad
ing a. lib. Tho price dropped to IN
then advanced to 7.19 and closed at 7.l7q
us. against 7.i5 Saturday. December sold
at 6.7S carly in the session. touched 9 80
shortly after noon and closed cit 6.76a6.7T
asainst 6.7+a6.75 Saturday.
II. 7. Woods 6 co. OF New Orleans
heavily, and the movement from that por,
would he even larger except for the
scarcity OF freight room. At this point
the stock Is being rapidly absorbed and
1t is csiGlteG that within the next len
DAYS IT Will be further reduced abou, 5000
bales. Notwithstanding the fact that the
snot demand continues good and chat the
supply is of extremely small proportions,
an al
bale discoun; at which sales en-, being
effected AMI apparently oblIvious to ,he
dhr of atoncmeut, which can not be far
Distant.
There must be some bass OF ADJUST
mont betwcsn spots and contracts Elthe r
the one must decline or the other al
icked with blank cartridges, but their po
t i2H Is ,l n9w ,1mpgs9ahe hat they VIM
notices are 10 create p stampede ani 40
no; necessarily signify any ardent desire
over 81 per talc
one of our prominent export houses
IS IN receipt Of q cable advising against
TENDER and Ocuobar shipments, as Man
chester stocks are sucn as to promise an
aeiivo demand for early shipments"
Tho Financial Chronicle, in a long edi-
toral on Manchester trade conditions.
sumo NJ the situation as follows: ION
the whole. the immediate prospect In
Manchester Is far from bong hopefnl. and
If Is certain MAT the o,,,ntit, 81 ,,o,,'i,,,
u"''''''' % 'is
tnhoWhery stanGlhg idle or working snort
ume - increasing, although in relation
70 me en- lfe industry Il car, not be called
iatse' me spinning branches have for
more than a wear been relatively in n bet |
ter state ttan the weaving, and even now
50 hnIra are a. a rule. abe 70 avoid ac- |
cuinulauohs OF stocks. Thslr condition,
~ worse AMI they can hardly keep SO
Ne" iofK' Jun" l'--fiuhhard Bros d co |
SAN NO change has occurred in the tenn
srn,,io+t,,, a,tt,.tt,. ,,,,f,,,,a. -,
the demand I from Emrone Today WIS SUD
n,,rrcd frnr, 40 Icst ri,ss LIZ IL. oc-