The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-13
4 Net Gain Of Two to Three Points Was
Msde IN Futures Yesterday.
LIVERPOOL ADvICts WERE usfAvoRABLE
spots Continue steady - Waterways
Receipts LiEht-Todny's Esti-
mates Benrish.
Futures 2 TO 3 points MP.
Spots stcady and unchanged.
Liverpool 1-2 to 1-04d lower.
Office OF Tho Post,

closing points higher and New Orleans
points up. Unfayorable Liverpool caused both
markets to open at decline but under In
creased buying and gratifying armness in
spots scored the advance. the close being at
the highest point of the day
The unsuccessful efforts OF the bears to
cause any material decline in prices is
considered q striking feature lust at this time.
There has undoubtedly been a great deal OF
pressure upon the market from specua.
tive interests that are hoping for "A sharp
break III values but thus far they have
been unable to force prices below $40 for
March In New York and around that quota
ton there are always numerous buying or
ders.
The tghtness OF money 10 the East and tho
decentralization OF the stock market have also
been against cotton, hut despite this prices
have been fairly well sustained. and are now
only about 20 points below the highest of the
season. II there is weak long interest. ms
the bears contend, this fact has not yet been
tested, as all the recent assaults unon the
market have not even forced out the s..
bale bulls A 40 point decline would be
necessary TO create anything like stampede.
while thus far every 10 point break is met
with rush OF buying orders that soon cause
prices TO react
The movement today vas quite light, al
though the esunatss of Interior receipts ;or
tomorrow have hearlsh unge 10 them,
Houston received 2oIS3 against 80 i97 last
year. while tomorrow $500 bales arr expected
as compared eltn 1c .}s last wear and n
2a1 10 1895. For New orlesus the estrnsta
is from 0oo TO u 900 ageintt 1855 last year
and 1852 three wears ago. Post receipts
we're a.7l4 against II, EOS In 1905 and n a76
In 1896
January in New York opened at 1854 and
tlored a. 1888 after selling hlgh at = 10
and lo~ al 80, March IA that market opcned
ct IA-s2, sold high at 40 low az =, 80 and
closed at 1919 March In New Orleans
opened at ts-17 and closed at 2l-22. tho
high and low selling being done at z % and
713. respectively.
Tho Liverpool cotton eachangs viii bs |
closed on December %, Is 70 and 50 aud on !
January l.
- bis season reminds me Of the year 1873 !
a. said an old operator, when cotton had
but few friends. and, Notwithstanding this
;ar', Gotten gradually climbed up from 81.
aonts in November to las cents the next
spring This cotton world did not then real
~ the great revival which had taken place
~ the cotton industry. Just as 1t does not to-
nay. 1t ~ now very evident that the world
VIM De bare or stocks at the close OF this
snort crop The Financial Chronicle in its
cotton crop supplement. dated September y
lsss' states that this great consumption not
only grows out OF the Increased number OF
spindles. but In their relative consuming
power In Great Britain for instance .
smaller number ~ spindles were reported
IN lsaS than in 1898, and roi the consumption
was 3o10 bales per week greater Vithout
estimating on the Increased consumption OF
me spindles II is safe 70 say thar there IL |
an increase OF Der cent In the number nf |
spndes. This. ON last years woiId'a con |
SUMPTION would amount 70 10 05D bales ON /
TINS basis the supply next September would 4
bic an invisible stock. $500 uop bales: prca-
ent crop, estimated at 5000 $50 bales, india /
crop estlmntod at tdo0o0o hRlcs shorD. l7i0- 4
GOO bnles: Epypt and Brazil. gnmc as In 1905.
~ 10000 bales. Total worlds supply for
this Season, ono bales
Deduct consumption. adting per cent, L
leaving the visible and invisible stock next h
September. l.075,o00 bales which ia smaller
IMAM any wear since 1865 except 1879 IN II
this estimate deductions nrc iunde for tho /,
ieot mat In the cotton carried over last Il
season about $4,000 bales were tho vorlest II
trash, nor for the light weights this season
which amounts 70 $4,000 bales"
Bears say half the crop will be In by De-
csmber Is, making lo.5Oo,ooo for the season.
Bulls say that half OF It was in by No.
vemner ], which means about 5000 900
rake your choice. advises the New York
Commercial
New Orleans Arm sent out the following
circular Monday, being one CT the many
efforts to dscredit tho bureaus report:
The bureau on It's face indicates n crop of
, 10000 allowing for the old cotton left over
IN the Interior from Inst year but as IL Is
well known that the bureau has always un-
derestimated the yield, and usually from one ,
70 Two million bales. conservative operators
attach little or no Importance to tho re-
port.
Below We give tho estimated yield per acre
In pounds OF lint cotton and estimated acre
turai bureau from 1893 TO 1898 inclusive lex.
elusive OF 1896 when no figures were giyen). Il
and based on the net weight of bales We get
inc results a asot tabuiated, In thousands: Il
Estimated
yield lint In
Acreage 224so 24,0sl 2o.is2 Is.72s 1875
Net weight
bales 80. 49,. Az All 41s 40
crop $1,000 s.2ss ss44s s.oo7 S,siS !
Actual
srowth .n.4so ll.4s5 e,sn 1881 z5sa
crop .....,ii.275 1920 7S7 s.soi 1850 !
Estimated by bureau.
From the above 1t will be seen that the !
department has generally underestinated the I,
crop from one TO two million bnles, and this :
VIII make u plain to the general public why /
the trade takes no stock in their estimates. /
~ q
Bears point out that the largest stock at !
Interior towns ever held previous to the pres Ii
ent season was on December 30 last year b
when II reached $4,000. II is now 756.40o.
Thomas j. Meehan e. Co., Baltimore say
n canned goods under date OF December o:
Dull, very dull. was the history OF the Bal i
more canned goods market during the past
week. The dullpess, however, has developed
10 weakness In any direction. which is a
'trong illustration OF the stability OF the mar
set. Beyond fair demand for tomatoes and
owe oysters there was very little doing in 4
he general list, but, then, that Ia usually the
ase IN this market during the month of | +
december, which 10 VIGOROUSLY the duIlest | a
ncnth OF the year IN this market. There we're v
70 changes In prices during the week, and l.
zone are anticipated during the coming week /,
There Is more or less TAR on the street. OF In
curse. about the tomato situation. and every | a
ne sgrees that We are now seeing the lowest | e
rlces on tomatoes simply because the goods "
re now selling 1t price below the actual b
ot, Of pSoduetion next season, hased on to-
.aye prices Of the materials which enter into
ne manufecture Of them
The nn0nt lyna nrta 1