The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-05-05
IN The COTTON MARKETS.
New York being Closed Little was
Done Anywhere.
LITTLE DEMAND FOR SPOT COTTON
Europe stocked up before Hostilf-
ties Commenced - Some Interest
Ing Notes from Cotton Facts"
LITTLE DEMAND FOR SPOT COLO
Office of The Post,
Mouston. wednegday. May I.

Houston, "wednesday, May 4.
with New York closed and Europe having
laid In large supplies before the war began.
there was nothing of interest In the cotton
market The tone is easy and quotations are
frequently shaded as buyers are not In the
market to any extent
Liverpool put spot prices down i-s2d and
Houston is off Lice. The other markets arc
nominaly unchanged
Liverpool futures were Let off and New Or
leans was down to points.
Port receipts were 5053, against 32l3 last
year and 62l9 in 1895.
New Orleans expects 1900 to 1000 tomorrow.
against 2si9 last year aud 2s2l IN 1880
Houston expects 800 to 400 against sos last
year and 5l5 in 1895.
Shepperson, IN his Cotton Facts. gives
the following interesting information
In view OF the unusually low prices now
ruling. the most striking feature OF the fig
ures is the fact that at some time during each
of the calendar years from 1913 to 1897 in
elusive. middling cotton has sold in New
York high as cents per pound. Indeed,
IL the chart had been carried back to 1879
1t would have shown the same result as mid
ding cotton has sold here as high as cents
during each year since that time. Another
fact of interest Is that from January /. 1851,
to December %. 1891. (when the price touched
1&icl, middling cotton did not at any tim
sell here below s cents per pound. The do-
cline at the end of 1891 continued until
e ll-l6c was reached on March IS, 1892, (being
the lowest price in 1922
From this low price a reaction set in and
the advancing tendency was nearly continuous
"a 10 tt4N he'd -
1892.
The depression which continued from the
autumn OF 1871 to tle spring of 1Sa4 and
caused decline of cents per pound was
htcauto the crop of 1891 -92 had been generally
very much underestimate and the resulting
prices could not be maintained under tho
pressure OF the immense receipts and stock
Of cotton. The commercial crop OF 1897
was a,0lS0w bales %, ing ,26S, COO bsei greater
than the average Of the estimates of about
-lD members OF the New York cotton ex-
changed
Tho crop was much larger than any pre-.
yiously grown and, following crop only
7ihOto bales less, gave for the two seasons
about ls much cotton as the average OF three
crops from 1876 to 1889 or any four or five
crops previous to 1876 II Is no wcpder price;
dcrlined The reaction was due to the great
" reduced acreage in the sTiiIg of 1882 and
me very moderate crop OF 1928 OF only
b,66i 600 bales.
The ext great depression was from Noyem.
Der 1894, 10 March, 1905, during which period
prices declined to . 9-I6c, being the lowest fig
nrcs TO- these two years, or at any time sine @
then. Tho cause Of the decline was the press
ufe OF receipts Of the great crur Of 1853.
coinc!dent with depression Ia nearly every
branch OF husiness The crop turned out to
be s,S3'ooo bales, being 9.505 900 bales more
than the previous crop md sl9e 600 bales more
thnn the large crop CT 1891 o..
FROM the extremely low price Of 9-lGc gu
March l. 1879. prices steadily advanced until
3'sc was reached on May %. After this ad-
vance Of nearly cents prices reacted some
what and were down to Use on July T. Then
prices rnpidly advanced to s 3-1sc by August
y ana y Csc on October Is, when the upward
movement eliminated