The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-20
IN THE COTTON MARKETS
Statistical Information from the Exchanges
Of United States and Europe.
SOUTH WAS A FREE SELLER IN NEW YORK
Liverpool Cables Were Not Encour-
aging 10 the Bulls and the Future
Markets Closed Lower.
Once OF The Po.t.
Houston. Monday, December 10.


in either spots or futures. apo the South
4 was a free seller in New York. This had
4 cetfessing effect and resulted in decline.
| After the close cable from LIVERPOOL stated
that NELL had just issued a very boarish cir
/ cular and its effect would probably be feit
i tomorrow.
The bull steam seems to be cfhausting
little. as spots are rather high, compared with
1 futures. and the bears still held to their ne
| lief in a large surplus over requirements
Spots in Houston and Galveston are on l-l6c
| and 1-32d in Liverpool.
| Futures in Liverpool are about lr-bi uown
and to points lower in New York and New
Fort receipts were ~ $685. against 1856 last
year and 7s,3i7 in 1895. - ~ .oo
Houston expects tomorrow $500 TO 29,oo
i bales, against 1G,fef last year and Mos III
/ 1895.
New Orleans expects 5000 to 2s.ooo. against
$4,000 last year and 25,a4s In 1888.
| Cargill & Richardson say OF cotton: 1t ~
surprising how well the cotton markets were
held today with heavy selling from all quar-
tors. In New York Liverpool was big seller.
mostly Augusts. puttug back the Januarys
and Marchs covered recently. New orleans
lhad n bearish market at home, and sent New
! York some large selling orders the soutn
| sold some against spot purchases, and tiniu
| longs got out at a small loss or profit There
| was good buying on scale orders as the market
! declined. but hardly enough TO take the oher-
| ings We got bad start this morning from
| Liverpool That market should have been a
| little higher than Saturday. but instead sent
us early " decline on the near months, clos
ing that much down. Spots were l-S2d lower.
| and only 10000 bales taken. Our markets felt
| the influence of clearing weather. although
| heavy rains were reported In the past forty
! eight hours at many points from the Missis-
| sippi valley west. Receipts at the ports
were large. and estimates for ten orrow lit
| tie more than last year The interior was
| Offering spots more freely. and Europe was
1 buying nothing. :,
Spots were weak at Southern ports, sales
| being freely made under quotations. While
| we hardly care to express n beariSh opinion
| on cotton, 1t is quite evident that the strong
| buying we have seen almost continually of
! late is growing less, and with clear weather
I and free movements the natural consequence
will be lower prices. We can not help but
beliesye. however, that the bull side is pre-,
! through a short season Of duh markets with
| lower tendency.
b. w. Hunter & Co. say of today's cotton
market: The whole market was affected today
4 by the overbulled condition of spot cotton.
| Near positions were weakest in all the mar
| kets and tenders on contracts were 5000 bales
| in Liverpool and 100 bales in New York The
future boards had to take considerable selling
| against spot holdings. but the distant posi-
| tions held up well. being only ls-6i lower to
| unchanged in Liverpool and to points down
/ in New York. During the past week or two
a big business could have been done in spot
cotton at fair prices and If holders had met
| the market 1t would have resulted In future
hedges being brought in as fast as the actual
Gotten was sold and much larger advance
and more healthy condition would have result
| ed, but for some reason holders of spot cotton
shot prices up at least Nc above any reason
| able basis for business, and they now find
| themselves heavily loaded with high priced
cotton. which Is very expensive to carry and
the market gradually getting away from them
and the demand almost completely satisfied.
Spot cotton is still dollar a bale too high
the market. Receipts and estimates were lib
eral and the weather In Texas is clearing up.
but there were heavy rains in all the ether
States and indications are that the bad
weather is not yet over. 1t Is notable that
what is considered. the strong outside ele-
ment buying cotton for some time past does
not come in on the advances, but apparently
waits. for easy periods on which to buy.
Whether these tactics are to be continued or
changed to more aggressive position. time will
determine. There was good buying around
$50 for March today, ana while Wall street
, and other strong parties seem confident of
as cheaply as possible, and do not seem to
worry at all about such declines as today's
Our New York house advises that they
think the market will soon turn for pretty
good advance. and If not sooner that early In
January we VIII have good bull movement
New York Cotton Market.
New York. December 19.-The friends of cot
ton met with reverses today. contrary to ex-
peetations Futures at Liverpool went off
quite sharply and spots further eased off l-32.
while the crop movement showed a surprising
volume, taking into consideration the resent
bad weather. The opening was barely steady
with prices points lower to l point higher
Except for an occasional slight rally on Gov
ering for profits by less confident shorts the
tendency of prices was steadily downward at
light liquidation and selling for Southern and
foreign account prominent features Some
stronger bears directed their efforts against
january. March and May deliveries. which lei
In the decline. The late market was ad-
another heavy movement In both the ports
and interior towns tomorrow and claims that
the English market would open weak I'm
portant drawbacks to the accumulation OF
heavy short interests, however. were reports
of continued strength and activity In Southern
spot markets ls;ts. increased demand ,andS ad-
markets as well as the dry goods trade gem
orally and official reports Of wet weather
pretty much over the entire cotton belt
The bull faction derived some comfort from
the fact that Wall street held firmly TO re-
cent purchases and bought quietly all through,
ascribed the weakness In that market 10 es-
Inmates for heavy receipts in the south. y -
4 summary Of dispatches from the South de-
inclined. largely on account OF the fevsrisb-
ness Of American spinners and exporters TO
secure the medium grades In spot cotton In
some instances almost regardless of prices
The heavy purchases of the latter class of
buyers promise to result In enormous clear
ances, which already have been of such pro-
portions as to cause considerable comment.
After brief furry OF activity at the close
during which prices further sagged the mar |
ket finished the day steady IN tone at a net
loss OF 8 to points.
nry Goods.
New York. December 19.-The market TOR |
blcacsed eottons is strong III tone, with fair
demand. Some makes OF Gs-square bleached
are held for 3ssc; quiet advances IA Wide
shoetlngs from 90 TO 7isu, brown cottons VAR, |
iirn' IN heavy weights, with fair sales: fine |
yarn soods firm but dull and quietor: print
good request and Arm; ginghams shnw aycr ~ !
age demand az full prices; wooden goods ,,n !
chpDgec in MI respects; cotton hosiepy ami,
bu, underwear selling we'll for spring on rn, |
orders at previous prices. "a