The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-31
IN the COTTON MARKETS
spfCulAroRs MORE BuLllsH THANBtARlSn
tsauston Advances spots lice. Other
Markets. JnchanEed--Oniy smaH
Declines In Future Prices.
ofece Of The Post,
Houston. Friday. December ~

Office OF The Post,
Houston, Friday. December w.
| The cotton exchanges have closed down un-
iii Tuesday, and both sides seem to De rest
| ing on their oars ready for the fray a'tes
| the New Year opens. Really the trade Is
more bullish than bearIsh, but WHITTIER tne
| bulls can boost up the market remains 70 Pc
| seen. The bears realize that it Is only y
short time before prices will begin to aa-
vance. but how soon will be the time wnen
the advance begins Is the problem
A bad spell OF weather may send prices w
temporarily, but reaction is expecte1--oniy
a small one, however That Is the opinion
of the trade. ~ 20
The weeks receipts at ports were g 4, g ~,
against 30S567 last year and 30S,.lz W lesi.
The weeks exports to Great Britain were n
22b Ts7, which is something unusually large
II indeed 1t Is not record breaker. ,har
Houston advanced spots I-ioc anu o'os'
M a.,Nernool futures are down is-64d. New York
. to 4, and New Orleans 2 to points ,-oo
+ Houston expects tomorrow lf,evo 70 i4'oV"
arains; II. o2S last year and 9i3s in. 1894.
New orleans expects 1900 to 26'0oO. against
IA. 1896 last year and 13.42S in 1874
Cargili q Richardson say Of cotton: Tne
bulls could derive but little consolation out
of Liyerpool's response to our bull market
and very inactive. This caused our markets
to weaken. prices holding barely steady all
day with outside buying again the feature.
The news Of the day was bearish. Into sight
for the week in excess OF what was eS-
pected. same being 1856 against S6S.S41 last
year, and 779 In 1884 We have now re-
ceiyed 100000 bales more than in same time
last year. Port receipts for the week coun-
teracted this 70 some extent, being but os4,
1853 against 306,567 last year. but the betrs
hfariSl
as small exports prove poor demand from
Europe. Houston received for the week 97.29l
against 41,4lf last year. It is difficult to
give Intelligent opinion on cotton, I'm
qucstionabiy New York is being well sup
ported by strong class OF buying. Liverpool
tends to easiness, and the parity between the
two markets Is getting worse. This condition
also exists In the relative difference between
spots and futures.
Holders of spots can not sell and uncover
their hedges except at a loss and are doing
practically nothing. or course speculation
can advance cotton materially, but without
the same support to spots. sudden advance
would almost certainly be met with quick
decline unless buying craze. similar to that
which was seen In the spring and summer of
1895. should be created, 1t is a well estab-
lished fact however that with the present
good times the world can care for 1900 100
bales at &c, and with large decrease in the
acreage Of the next crop. spring boom of no
mean proportions should be seen. We be-
lieve ir buying cotton. but only on the recess
sations which will he seen from time to time.
r. w. Hunter Co. say of today's cotton
market: At last a part OF yesterdays big
spot purchases in Southern markets were
hedged this morning in Liverpool and that
market declined ia-s4d under this selling. Our
markets opened only points lower. and were
decidedly disnclfned to decline, hut Hous-
ton and New Orleans estimates. both coming
heavy, and the into sight for the week run
ming 5000 ahead OF this week ast year. in
duced some humiliation and few bales for
short account, which broke prizes an add
tional 2 points. There seemed to he plenty
of buying orders, however on oil easy spots:
particularly in. the New York market. anil
day. and a point or two up from the lowest
OF the day Indications point to another spell
of had weather, and the New Year viii most
likely see aggressive action upon the part
Of the hfg bulls In cotton. People who have
been talking for come time Of u decided fall
ing on In the movement are still talking. but
movement continues exhaustine' itself for
the next few weeks as IT has recently. we
will have pretty good sized crop IN sight
by February !. There is plenty OF bear
news in fact. this class is about all the
legitimate news at hand but Wall stree
apd its following have started in to. bull cut
very heavy receipts. big crop aud very
bearish feeling among Liverpool and New
Orleans traders. Tho markets arc getting
worse and worse ont OF line every day. and
New York seems determined not to h-eak
no matter what the ether markets DO This
and unnatural holding ont Of
part OF the supporters Of prices in New York.
but that market has less than 100000 stock
while New Orleans has over 100000 and Liver
pool over 1.250.ooo. il is given out freely that
March and even MAY in New York
are to he forced UP TO premium over tho
more distant positions and that snot cotton
Is badly wanted in that market.
New York Cotton Market.
New York. December S0.--Cable accounts
were unsatisfactory this morning and cotton
opened with prices unchanged TO points low
,r Following the aret call there a further !
dec line of to points. indications pointing
10 liberal movement of cotton next week |
and outside speculation not cutting the figure
relied upon by the londsrs of the bull conlib- /
gent. Wall street operators continued to sus- I
aili a supporting relation to cotton, although /
MS class OF trading today was rather less |
IGNITION to the staple. Tho subsiding Interest |
was accounted for by the holiday at hand,
Trading generally possibly for the same rea
scope of huctuation for the entire session WAS
,niy matter OF points. with The market
lnally steady at net loss OF TO points.
OIL, Reports from Southern spot markets
we're OF a favorable character
Dry Goods.
market was without important feature today.
business was generally as quiet as on pre-
'iols days Of the week, in both staple and
ancy lines. The tone continued strops
throughout and further advances in prices are
, ,,s,n as certain early in the year. Print
'loths We're strong. with some sales OF res,i-
ars at 2asc and Of 3sia-inch 64-squures Al
20 Business IN the wcolen goods diviso,,
f.ps quiet and without special feature. m.
i Sr,a for foreign merchandise Of staple
nnlac.sr was slow for spring and only mod
rate TOT fancy lines and specialtics
Chronicles Weather Repovt..
Especial Dispatch 10 Tho Post)
The Commercial and Financial Chronicle
VII say OF the weather over the cotton belt.
'eports to US by telegraph from the South
onight indicate that dry weather has be.n
uite general during the weak. and thai tho
emrerature has been higher. In consequence
the moro favorable conditions the gather
ne and marketing OF cotton has made 5000
rogress,
-. I.osiu Movement.
EsAE .tv>t- - J. |