The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-25
IN THE COTTON MARKETS.
Statistical Information from the
Leading Exchanges.
EVERYTHING AGAINST AN ADVANCE.
The Decline witch Occurred Was
Expected on the War News ana
other Bcarish Features.
Office of The Post.
VIHtH OF Ht rV'V'
Houston, Monday. October "a.

Houston. Monday. October "a
There was something OF slump in cotton
today However It was not entirely unex-
pected and no great resistance could be Of
| fered
| Weather conditions are favorable for pick
ing and for the growth OF the top crop, and
the weather is now feature Another lac
| tor in the situation Is the relaxing and abro-
| CATION Of quarantine restrictions which, 1t 10
| presumed will release a large amount OF cot
| ton which has been tied up Thirdly. the
war situation In Europe is still causing I'M
easiness and war risks are being added by
insurance companies.
Under such circumstances nothing but de-
| cline was looked for today aud on these three
conditions is contingent the course OF the
market for few days to come, at least.
New York and Galveston spots declined
1-l6c. with the tone anything but strong.
Liverpool futures were u shade higher, but
practically unchanged
New York futures declined = 10 and New
Orleans to points.
Houston expects tomorrow 1900 to $4,000,
| against 20 $50 last year and So.672 in 1894.
Port receipts g., $685. against 69,57s last year.
Cargill & Rtchur dsOn's Circular.
Cargill & Richardson of Houston say:
This was a war in both cotton and wheat.
The latter declined and the former advanced
The Initiative in cotton was taken by New
Orleans. where heavy selling was INDUCED in
at home and large orders sent to New York.
Continental Europe were the heaviest sellers
in New York, although Southern spot buyers
foresaw free offerings from the interior and
kept the market supplied with short futures
whenever prices showed any tendency to re-
act. Gables were received saying that France
was modifying troops at Touon, and English
advices say that things looked more serious
Although Liverpool had an exceptionally
good cotton market today. 1s-6id up, consols
were y per cent lower and trading in wheat
was enormous at llsd higher, Late advices
from Liverpool said wheat curb excited and
higher. Longs liquidated some. and it is
thought that there Is still a large amount Of
cotton bought on tho late frosts, which will
have TO be sold out before the market can
get into healthy condition again. Receipts
and estimates large, spot demand not suff-
Client to take the offerings. Weather cond-
lions perfect
Our European advices say that barring war.
which is and Will be only paper cotton
will decline further, as spinners who were
short OF supplies early are now well stocked
and that whllo trade conditions are such as to
warrant them in paying ruling prices or bet
ter for balance Of the crop. they are inia-
pendent and not at all anxious to buy, except
on easy markets.
Hurter a. Gus Cotton Letter.
B. w Hunter & Co, say of today's cotton
further improved ls-6id before our opening
time. There was a fair demand for spots,
sales 1900 bales Our markets failed to re- |
spond to the favorable Liverpool New York |
opening at Saturdays outside closing prices, |
and New orleans at the inside. Liverpool |
lost oue-h half of her gain aud sent heavy sall-
ing orders to this side. influenced by the very
disturbed political situation in Europe Con-
soils were lower aud the grain markets were
In an excited condition. Cables were re-
solved advising that war risks would be add
I'd on cotton insurance. This caused consid-
cradle uneasiness among holders and many of
them sold out or hedgtd their contracts, pre-
erfing not to have tCo much risk while the J
PRESENT exciiemelt lasts. Bears took advan-
age of disturbed conditions aud hammered
he market, helping the decline. New Orleans
ieclined full 10 points and New York I points,
he close being / to points up from the
owest New York did not break its previous
ow record for the season. but New Orleans
odd points lower than ever before. and
or while the market was very nervous and
fluctuations excited. The break of points In
Sew Orleans came In very few minutes and
anuary sold from i.e4 to 1855 and back up to
.99 and down TO ASS very quickly The New
'ork market was net 20 nervous and around
he lowest there was good buying. shorts
ting satisfied with their profits, and quite
number of open orders being filled. We
o not think the raid on prices caused any
Important liqul6ation. and. II anything. the
ing interest was increased the decline
oday, Holders who are prepared to margin |
heir contracts feel that cotton is too cheap
nd that the crop has been too much oyeras-
mated for there to be any risks OF import
nee TO them, and while they may have 10 |
and some punishment en- such days as this.
ley feel confident that even war would not |
Ike from them profits of which they feel | ,
ortain. even though they may have to wait
'me time. II Is mere than likely that the
vehement anticipating war will he worse on
rices than actual war II II should ever
,me, and the action Of the markets today is
lch as usually characteriaes the elimination
a long continued decline
Na,, yn,,. I,,,.,, >,,..