The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-09
Heavy Selling BY Longs Forced Contract
Prices Down.
SPOTS MARKET QUIET AND UNCHANGED
Their strength Gratifying to Bulls
In view of Decline I'm Futures.
The weekly Figures.
Futures g to o points down.
spots quiet and unchanged.
Liverpool unchanged TO Ia Gath
Office OF The Post.
Houston. Friday, pecember 5.

Houston, Friday, December q
~. cotton markets we're very tired today
ana from the opening TO the close they we're
practically at the mercy OF the bears. Liver
moo, WAS somewhat disappointing after the
a,ar,nv ,bere was no demand FOR contracts.
longs sold heavily ard there was no OUTSIDE
,unnort Then. too, to add to the discom-
smre Of the bulls, interior receipts were
somewhat larger than was expected.
IiverpooI early was very favorable and she
markets on this side opened at an advance
of to points. but the advantage thus gained
was quickly lost as o result Of the action oil
tbs bears in quickly following mp their or
portunities. The close was at the lowest
point Of the day. New York heing to ?
down and New Orleans to down. Liver
pool at the close was practically unchanged.
a decline Of u sid he,ng shown IN some
months. while spots were 1-a2d higher Bust
ness in spots was quiet and At the advanced
prices only 10000 halee we're sold.
Spots on this side manifested a remarkable
strength in view of the condition of futures.
Tho principal markets. including Houston.
we're all unchanged and the range was from
quiet to Arm. The epot situation has all
along been the backbone of the fight the
farmer is making against thu European con
suner and it was greatly comforting 10 the
bulls today to note that spots did not fol
low futures.
The weekly statements were bullish, as
usual The amount brought into sight dur
ing the week was only ESQ. 600 against 1885
last year. but ths faot that the figures for
the same week in 1896 were hut $50 SOC
caused the bull argument to be weakened
somewhat. On the other hand, however, the
-l,..,
this season is 4a2o.eo7 against 6.lso.l6s In
1895 and 5leo,720 in 1896 Liverpools total
stock is but 749 900 this week, as compared
with ISL 600 last week and l,lt3,ooo last year.
The weeks receipts were 1000 less than last
week and $4,000 smaller than last year.
while the stock afoat is 2Ss,0oo less than in
1898.
Receipts at Houston for the week were 49,,
81. 5000 more than last week. but $1,000 less
than last year. The total receipts to date
are III. 74s against l763 GO las. year. Stocks
In presses and warehouses increased 5000
during the week. Wagon receipts to date are
u l96. againet 1854.
The receipts for the day at Houston were
1885 against Is 2l2 last year, and the esti-
mate for tomorrow Is from 1900 to 1880 as
compared with lS so, in 1898 and 1857 in 1886
New Orleans expects to receive tomorrow
from 1900 to 1900, against 1881 in ls9S
and le6li in the short crop year.
Port receipts were SO .e57 as compared with
Ga 1855 last year and 81 ,452 three years ago.
Advices from Washington during the da,
were TO the effect that The bureau would givl
out information concerning the scope OF tn,
report tomorrow before IL O'Clock. The gen
orally accepted opinion seems to be that tn,
report will be builsh. but II this proves Il
ba the case some interested persona thnl
mat the difference between these views auC
those expressed earlier Ia The season. vii
cause the figures 10 be vaiueless from bull
standpoint. The report Will be issued at II
O'Clock Monday forenoon.
March in New Orleans opened at 5.si97.,,
and closed pt 7.1697.l7 after selling high at
40 and low Mt 7.I6. In New York January
opened at 7.46Q741. sold high at 5.47. low
at 7,S2 and closed at 7.S5aS.S4. March 10
this market opened at 7.52g7.53 and closed
at 7.4q7.42. the high and low selling being
done at 7.o4 and ~. respectively.
Price. Mccormick a Co. wired the fol-
loving today:
The market opened with show of consid-
cradle strength at an advance OF from 3 10 !
points, influenced by the favorable Liver.
sequence OF recession In Liverpool. reali1-
ing BY yesterdays buyers and Indications OF
rather larger volume OF interior receipts thar
had been anticipated. The decline ABROAD II
attributed to rumors OF British reverses IL
South Africa, which Induced considerable
selilng there.
at from 10000 to 200 600 bales against ILL.,
900 last week and 26s.0O0 last year Thes
temporary reverses In the market do not re
fleet any change In the legitimate situation
which 10 daily growing stronger The sit
ustion abroad is particularly dramatic one
Already rumors are current OF squeeze y
the January February delivery in Liverpool
AS a matter of fact the position OF European
consumers Is desperate one and II Ia no
unlikely that the market will at almost an
moment revive and receive decided stimuli
from Developments on the other side.
Reports from Texas Indicate. that buyer
are securing the country with view 40
and purchases can only be made by acced
ing to their demands.
A. showing that tho feeling In Liverpoe
Is not all OF tho same character. the follow
ing extract from a circular issued there o
November Is by Merriheld. Zeigler & Co.
printed;
''Tbe course Of the market since our lette
~ the 18th has justified the opinion we there
In expressed. prices having steadily nd
,anced until they are now within i,l6d Q
the hghes, point touched We consider tn
based on actual figures, which must now tax
precedence Of all suess-work, or reiterate
expressions OF belief In holding process
Spinners are distinctly showing signs OF un
easiness, and while there Is no great rush I
buy cotton, their takings are fairly tree
and more than the daily estimates.
AN round, and In whatever direction "
look. the figures are alarming and with
determination the part OF importers nc
to carry big stocks IN the face OF exist.n
discounts, the positions must become NOR
and more acute as the weeks go by. Their
can be but one relief, namely. general lei
t.pg-go on the part Of the South; but, a
the moment, this seems as far on as ever
our own experience being that the basis
worse today than az any time since the ses
son opened.
SFor this reason we consider the msrks
In o healthy condition, We shall ha,
fluctuations. no doubt--tinid bulls reaiizinl
and, probably an increased movement whic
must come even 10 reach moderate crop.
but we look for the general trend OF pric,
TO DO in the upward direction
Cargill a Richardson say Of cotton:
n Indications early this morning points
% further Improvement In the cotton market
Liverpool was 2-s4d up. spots 1-32d highe
with ssies OF 10000 It was reported. hoy
eyet Ahat the demand from spInners was lin
tied The Improvement abroad gave OF
mArkets Arm and higher opening, but Iarl
realislng orders were soon in evidence. q
maxketS declining under pressure OF lo1
|4t ro61on. and 1itffe forcing by the bears WI