The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-24
in THE COTTON MARKETS
Statistical Information Of the Leading Ex.
changes Of the United States.
THE BEARS CONTROLLED THE MARKET
Prices Were Forced Down by the
Anxiety of Longs TO Sell and
Favorable Crop Reports.
ofnse Of The Post.

Ofnee OF Tne POST
Houston. Friday, June e.
Speculation in the markets for contracts
was ratnsr light today. though the unloading
by LONGS was enough TO send prices down to
points at the close. This In itself was hard
" the sole reason for the decline, as the bear
ish crop and weather reports still some in,
and. coupled with the small demand for SPOT
cotton at Liverpool and other points, exerted
a depressing influence on the longs, who are
anxious to dispose OF some of their holdings
The assumption that the crop this year will
to a large one Us at this time rather prema
ture for there is yet plenty OF time for 1t to
be cut short But the bears are working the
favorable report" influence for all they can,
aud seem 70 he doing fairly we'll.
New Orleans opened steady I to points
down, and closed steady, with further de-
cline of ] to points. the market being to 5
Ioints lover taan yesterdays closing figures
New York opened steady, TO points down,
ruled auot / point higher to / point lower
than the opeung and closed quiet and steady.
with a fuftncr decline of to points. making
total loss ior the day of to points.
Liverpool closed steady, point higher than
the figures Of yesterdays close,
Horeton spots closed quiet and unchanged
Nlfu 10 rdttFs hdlNthlDu tlostu quiet, l-lhN
down sales none; New Orleans closed quiet
with an advance OF l-l6c in good mIddms,
other grades unchanged. and sales OF 2550
bales: Nov York closed quiet and unchanged,
sales ~ haios Liverpool closed quiet, l-S2d
down. saics 10000 bales
New Orleans. La June e3.-w, H. Bach
eller & Co., limited. say of cotton and grain
openlng prices here were at slightly lower
levels, ranging throughput the day within
narrow fluctuations and closing finally at tue
lowest OF the day. 1t is only reasonable to
infer that the weak markets we have been
having would be exactly IN accordance with
the liking II the English spinuers. enabling
them TO seture an abundance OF cbtap raw
material Tor many months to come. Among
th- professionals there ara uHny who believe
that October VIII sell ~ cents and should
such conviction be confirmed, according to the
Chfohcle s recent statement, 4 revival ri
prosperity would be assured throughout the
south. How they hgure 10 out on basis VI I
cents Is a problem beyond our comprehension.
What continues to act MS an Offset to the
good trade conditions aud constructive de-
mand from spinners is tho encouraging crop
outlook.
It is the bearing Of weather upon farm
operations that after all acts a. factor OF
the greatest Importance, and from what we
ran gather the crop is suffering a renewal
of backward condition in the Northwest, aud
further advices from Russia Indicate that the
recent rains IN the drouth- stricken distri t 3
arrived too late to be of material benefit
The market to our mind Is now one In which
purchases on ap%-he9aks for moderate profits
are comparatively safe.
Corn suffered slight change for the worse
While the export and onsh demand was fair
SUI there was lltte signs OF activity,
Oats exhibited considerable steadness all
day.
Provisions ruled heavy on large hog re-
cepts