The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-11-29
IN THE COTTON MARKETS
GENERAL ADVANCE lNspoTs AND FUTURES
ITe Best Nay the Busis Have Had
This season--Thc Position IL
stronger.
office Of Tho Post.
VfftTt Ut = NJ Wv
Houston. Monday. November e.


Houston. Monday. November Is.
The bulls wero In their element today.
Cc,,on rolled out OF the rut and there WAS
ono CT tho old time REVEALS after a long dull
! spell
| Crop estimates arc being reduced consider
ably pnd 1t is said that Noii. who controls
tho guessing part OF the market and therefore
| tho rrIcc. viii come out with circular revis-
| ing his opinion.
| The cold weather which has extended over
/ The entire cotton belt during the past week
| was ono OF tho strong bull points spinners
| a,,Iad are buying literally aud are not gel
| tim. any concessions. particularly Oh n'sn
| gradcg. Tho takipgs of English spinners are
I said to be rot speculative. but rather to pro-
| vide raw material and 10 meet urgent re-
ouiremcnts for goods for which large CON
tracts have beon, made for forward delivery.
/ Liverpool opened ut an advance OF S-Si. re-
acteu slightly. hut Inter bulged again, finally
CLOSING o-si higher than Saturday. Spot sales
1 there were 1000 at an advance of 's-6i. THIS
i strength naturally lent announcement to 'hc
1 markets on this side. aud at the outsct there
1 was i bull onslaught New York contracts
opyned Of an advance OF II to 10 points de-
1 cllnod J to points. but recovered and closed
! ~ an advance over Saturday OF Il to II points
| New Orleans opened II 10 IS points above
/ Saturdays close and after some see-sawing
| closed 10 to IL points higher than Saturday.
| In speaking OF the present situation.
| Irom!rcnt Now York trader said: Condi-
| tions were much the same in 1880. at this sea-
/ son Of the year. when the most remarkable
advance in tho history OF the cotton exchange
occurred, as they are at the present unie.
| The market was far oyersold on "Wednesday
night, November "A. 1880. when the trade went
home for Il quiet Thanksgiving. with indica-
lions pointing to u resumption ~ business the
| following Friday within II poigt or two OF tho
previous days closing figures. During tne
holiday interval, however. very severe sleet
and wind storm set in over the COTTON poit'
badly damaging the late crop. The openius
call on Friday. November 26 was attended
with wild scenes of excitement never 10 %
fo,retten. Prices jumped up many points at
a time with trading going on in the PIT at
differences In prices OF 20 to 80 points the
cIoae az the call showed that clear advance
os &c points had been made, with trading tre-
ueptious After breathing spell, prices fell
off almost as rapidly rs they had advanced
ana nv 4 n. IN. fully 60 points OF the early
| gain had beon lost
All the American spot markets are up 10
Galveston advancing middling fair z.
Receipts, at ports were $3.50, against .o'o-'
last year and 70.3s6 in 1884
nh. ..ffee, of the blockade at Galveston is
shown in the Houston receipts and estimate.
,roday,s receipts tomorrow are posted nj 70
100 to % 800 against "a, 400 last year and w.
: Al in 1891 New Orleans expects 2l,ooo to 2S'-
$50. against 6i.e76 last year ana so'1e- III 1874
Predicted Advance Came.
/ p W Hunter & Co. say of today cotton
!; market: Liverpool news was very iasorapie
= for further advance In cotton. As pred'ctea
, some time ago, cotton advanced sharply touay
] and 1t looks rs If the price would 3" sun
! higher Capitalists thought the recent prices
low enough and have eonsidsred purgenssvs y.
: able weather all yer the cotton pelt nus ul
y douitedly reduced the yield Large crop es,l
f; | mates have disappeared aud estimates Oh a,
/; a., odn bales are now more predominant
should bad weather continue we i,finiy ~, ~
lieye that the price VIII advance sun y, h
| mo mere as European spinncIs seem TO De
more disposed to buy A sood demand rom
Ina. quarter will prove the best pun factor.
| A rurnor that Neil VIII revise MS estin".S
helped the advance.
A Good Old Time Market.
Carnil 4 Richardson say: Today cotton
? market reminds old timers Of the days when
John and Peter werc amongst us. Colion
: has no leader now and the bulls say 1t docs
!. not need one. rs IL can and Will take care oi
usflf on merit alone. Today's strength came
almost altogether from Liverpool. and, whis
they confined theit operations nearly enursiy
y 10 their own mirkot. they bought some ~
"a America Outside OF Livfrpoois buying in
" New York. tho outsiders and local shorts
were tho power. best solling camo from con,
: tueptai Europe Rumors We're out carly that
Z Nci,l would soon reduce his estimate. and Was
V adgisns his clients to buy new "a
Estimates for tomorrow NJ Houston fnn
New Orleans We're 81, 900 bales less than last
s year, hut this is not a market that rays mnrh
II attention to statistics Spots show some inn
d proycment but tomorrow VIII tell whether
spinners win follow tho advance. There Is
10 deiebt but this market has been oyersold,
ana tho shorts arc now suffering Outside
spaculnton was larger than any day this
season. Buying power is what cotton needs;
and II continued prices can easily BIC forced
higher. Liverpool should be i-6i up tomor-
!, row.
New York. cotton Market.
Y New York, November aS.-Tho cotton mSr-
kot opened with unusual excitement and very
iiyoly trading, Prices jumped to points
on first sales and for u time the situation
locked very squsliS' to the lear crowd. Ccv-
: ering was engaged in freely in fact. tie
larger part Of the early buying dono was foi
;, tho account Of shorts
i Foreign representatives were In possession
OF the large buying orders, while nearly all
y dispatches from the South were for the pur-
Il chase OF tho January, March and later de-
. ligcrics, For the rest OF the session, however
prices fluctunted within a comraraiiveiy mar,
4 row range, The principal cause OF the bull
10 movement was an unfacorable set OF weather
l. ads ices and adverse crop news.
Liverpool furnished additional support by
u sending ystrong cables relating to spot and
: future cotton III that point as well as yarns
- aut cloths at Manchester.
liumor had II that spot cotton was stlffen-
Ink throughout the South. Late In the after
: noon the local market showed some sigps oil
wayeIinS as the result OF profit taklngs md
4 short selling by few OF the more reliant
q hears. the latter being on the theory that the
!. days bulge had sent prices TO the top notch
I: for the time being. Under this pressure prices
y w<rt off several points, but rallied again latcI
= In the day on another scare OF shorts ic
i. coysr. following forecast from Washington
/. 4 for the next twenty-fcur hours cf general
rains or snow throughout the eastern and
central portions OF the belt. where picking
was already said 10 have been broush; to i
standstill by heavy precipitation.
!, Al the close the future list was very steads
with tho net. advance matter ~ y g y
n points. Trading continued oa liberal line
Is up 10 tho very ~ moment and wns quits
). general.
. nry Goods.
al Now York. November eS-owing 70 ths
storm there werc few buyers In the dry goods
trade today The few who were there wers