The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-19
IN The COTTON MARKETS
Satisfied IaiormstIon from the Leading
Exchanges Of the World.
FUTURES WERE sPAsMoDIC AND IRREGULAR
liverpool closed 2G3 Points Higher
ana the American Markets 1G3
Points Higher.
Office Of The Post.

ket opened at an advance II to points,
but was irregular and soon declined 5G7
points on heavy selling. This loss was over
come by the buying OF Price. who jumped in
as soon as the market went of and took
up some large offers at the low figures. and
this had tendency TO steady prices and give
better tone The closing was steady at
an advance of to 3 points up. The weather
map was fair and ncws OF Importance was
lacking. Attention is centered on the weather
conditions Just now: the light rains which
have fallen have been OF little benefit aud
unless they are followed soon by heavier
precipitation many cotton men predict that
the crop will be cut OFF more than was first
anticipated
All American spot markets closed un-
changed. Liverpool was 1-32d higher. Hous-
ton steady, sales 1853 bales Galveston steady.
sales 1os bales. New orleans steady. sales
$50 bales New York quiet sales 456 bales.
Liverpool steady. sales 5000 bales. OF which
$500 were American.
Liverpool futures closed steady. 2 points
over yesterdays quotations.
New Orleans opened barely steady. to S
points higher for August to January, inclu-
siyc. other months not quoted ruled quiet 5
20 noints down for August to December
=
months . to points higher than yesterday
close and closed quiet and stendy. with a
gain of / to points. being to points
over yesterdays quotations.
New York opened steady at an advance Of
3 TO points. ruled steady TO points down
and closed steady. unchanged to / point
higher. 4 net gain of . TO points Tor the day,
Cargill 6 Richardson say OF cotton:
The early market in New York found Liv-
erpool. Hent4. Mohr and Hagadorn free sell
ers; Price the only buyer of consequence, and
later was dumping his early purchases. Good
showers were reported at various points in
Central South Texas but the area was too
small 10 have any bearing upon prices The
movement Is commencing 10 receive consid-
cradle attention. our receipts Tor tomorrow
being 4a9S against 36l last year. This makes
our movement from August l TO date l6.12i
demand for spots from New England spinners
Liverpool only ubhline ana ilayre a buyer
moderately. The general impression among
operators is that prices have struck level
for the present ana new features are neces-
cary 20 cause any material change in values
Good general rains over the whole state would
cause some decline, hut We believe this bust
moss has been worked to finish. and any
decline from that cause would be but tenn
porsry. on the other hand no relief in North
TcSas would tend to harden values New
Orleans closed 9 to higher than Yesterday;
spots steady and unchanged Liverpool should
be y M tomorrow.
Nel's crop estimate is still being beiitted
as an absurd exaegeration. The New Orleans
Times Democrat thus refers to It:
History says that the chief authority af-
Armed that 100000 bales had been picked in
Texas at the end OF November. 1895 and that
this amount constituted 97liper cent of the
crop Of that State. II liz perfectly certain
that this forecast was erroneous. by about IA
per cent. Now. this is. asshredly. not the
note OF lnfallihility, at all. Mr.. NELL says
that the crop OF $1,000 Is fully as good rs
the crop OF the season now drawing to its
close suppose for moment thai Mr.. NELL
should make IN error OF IL per cent In this
forecast The result would be yield some
thing like 100000 and the trade would finf
itgelf IN the hottest kind OF box. Then.
again, II is an open question whether third
crop OF II. 900 hales would be excessive
when measured against the enormous, and
steadily increasing consumption Of the time
Certain It is that two crops OF like maenltude
have come and gone, and the premiums on
the near positions were proof positive that
sellers were the masters OF the situation. For
many weeks mast there has been dearth Of
good spinning cotton. and the crisis would
have become acute, II there had heon any
grave doubts about the prospects for the COM
ing year. Indeed everything goestt show
that the world requires about II 900 600 bales
of American cotton, especially II present
prices should last for some sime to come.
Especial to The Post)
New Orleans August lS-W. II. Bachelor
d Co. Ltd. say of cotton: All markets were
steadier at the opening this morning. induced
by the more favorable tenor OF the English
markets. point advance being reported there,
which influenced our market to the extent OF
points above the closing of last night. Later,
Liverpool not holding all the Improvement,
cur market acted in sympathy and prices de-
clned to last nights level, only to react again
hDfnF fhn qi nCp IN al nlea fhp no. ira e
The small sales In Liverpool would evidence
that spinners are trying to control the sttu>-
ton, and Will hold the advantage offered them
IN selling goods at steadily advancing prices
and bide thcir time In handling the neglected
raw material In answer to numerous in
quires as to Mr.. Nelli's accurate guesses in
the past, We would state that he was 1000, 00U
bales wrong In 1929, 1000. 900 bales wrong in
the summer OF 1896 and i,000.0 600 bales wrong
IN 1867, which proves that he is not infalli-
BILE Admitting that he is correct this season.
II does not determine ultimate results in re-
gard to prices for with any disaster to the
crop the awakening would be painful and at
tended with many regrets,
Especial 10 The Post)
New York August ls.-The Commercial and
Financial Chronicle reports: Telegraphic re-
ports to us this evening from the South indi-
cite that as a rule the rainfall has been light
during tho week and in Texas moisture is
Lseded. Picking Is general In the Southwest
and Ia making good progress, and Is getting
Under way elsewhere, Rust and shedding are
complained of In portions of Texas. Alabama
and Tennessee. Further rains in the Atlantic
latte States and at few points along the
gulf have improved crop prospects.
MR.. TAYLOR is BEARlsH.
Galveston. Texas. August 1S.-Mr. Thomas
Taylor arrived this morning from Liverpool.
lie looks well and, as usual. was ready for
business Immediately upon reaching the city
With Mr.. Taylor were Messrs. R. NJ. Russell
and j. Williams OF Liverpool. Mr.. Russell
was in business here twenty or twenty five
years ago. Mr.. Williams was in business
here seven years ago, Mr.. Williams Intends
20 again engage In business here. es
Mr., Taylor kept his Galveston office open
al year. his manager. Mr.. Cox, being in
charge
What do you think OF the markcty" Mr..
Taylor was asked.
''At the moment I'm inclined to be bear
fish," he replied; Il think the market is a
ialo on every advance.
why so?'
while business Is very good abroad and
while the crop may be smaller than estimated
expect lower prices, The big receipts OF
the next six weeks will be more than the
market will be able 10 stand The bulls are
dem0rnlized. They realize this themselves
when one man can come out with an esti-
mate and knock the market down so points"
Mr.. Taylor - the largeat Individual opera
tor IN the market.