The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-11-15
Figures Of Original Estimates Are Reduced
One.Half Million Bales.
HOME SPOTS RULED STEADY, UNCHANGED
Liverpool Opened Weak. hut Gained
strength-Texas Movement Larger.
Further Advance Expected.
American futures 10 to "a points
points up.
spots steady and unchanged.
Liverpool lower.
Houston. Tuesday, November IL.
Office of The Post.

Houston. Tuesday. November IA.
occurred today. and a big advance was re-
corded.
In addition to the other reasons for an up
ward trend of prices. following the late de-
cline. a powerful incentive to advance was
furnished by report issued by the govern
ment, supplementary 10 that of a few days
ago in which the estimate of the crop was
practically changed to 100000 bales from
100000.
Tho advance on futures on this side was
very marked and in New Orleans. which
closed from % to "a points up. all of yester-
days decline and more was reEained The
advance in New York was from 10 to 10
points over yesterdays close.
The homo markets opened weak and ruled
in the same manner for a short time. when
sharp advance was made, followed by
decline nearly to the close. Then tho news
of the latest government report came IN
and the effect was instantaneous. Prices went
up steadily, and. naturally. there WAS
great deal Of trading.
1t is hardly thought that the supplementary
report will have any more of a lasting effect
than did the original and brokers are adyis-
ing patrons TO sell during the time efforts
are being made to cover shorts In the re-
port statistcian HYDE states that on several
previous occasions the preliminary official es-
innate of the crop has been too low from
the fact that the rapid expansion of the
area of production has not keen kept up with.
when. therefore the very large crop of last
wear made it manifest that the acreage had
increased beyond both official and almost all
commercial estimates, it was determined 10
institute a special and very thorough inves-
year The productive area last year is found
to have been nearly 25.O00.OOo acres. and for
the present year to bo about q. 50oO 900 acres,
with probability that the final returns will
show the present acreage to he below rather
than above the amount stated. The investl-
cation discloses one of the smallest average
yields per acre in many years and IN est-
mating tho total crop at maximum of $780,
600 bales, a substantial and most ample al
lowance has been made for any tendency to
take TOO pessimistlc view of the situa-
ton. The actual indications at tho present
time are considered to point to a crop OF
less than 100000 bales. Reports stin COM
ing in give no indication of any Improvement
in the situation but only the reverse In his
capacity as cotton expert to the United States
commission. the statisticlan has had the prep
araton of the United States cotton exhibit
for the Paris exposition, and his duties in
that connection have afforded him additional
facilities for ascertaning the actual condition
OF the crop In every part of the country. The
unimpeachable evidence that has come TO him
in that capacity. is, he states, in every way
conhrmatory of the most untavorable official
reports.
LIVERPOOL futures were 4is-6iths down when
the market opened this morning and for a
time things looked rather bad Later, how
ever. part of the decline was reganed r,ad
the closing was at net loss of from IL
to 2-6iths. Spot showed decline OF Lied
and at those prices 10 600 bales were sold
Home spot markets were remarkably steady
under the circumstances. Houston. New Orr
leans. New York and Galveston all closed at
unchanged prices. their tones ranging from
quiet to Arm. No sales were made in Hous-
ton. but all three OF the other markets re-
ported sales larger than have been usual dur
inG the past few days. Escept So far as
Texas is concerned the movement is not de-
veloping any marked increase, Today's local
receipts were 25,465. as compared with l2O5s
yesterday. 1t is estimated that from II 600
to $1,000 bales will be received tomorrow.
against 1895 for last year and 1879 In
1897.
New Orleans expects to receive from 5000
to 1900 bales tomorrow. The figures for last
year were 2ob9O and for 1897 they were II 1862.
Port receipts and the movement east of the
Mississippi river generally are still light
January cotton in New York opened at
7l2-13 and closed at 7.29. after selling high
at 7.30 and low at ITO. March opened at
7,le-i7, sold high at 7.s5. low at 7l5 and
closed at 7,34-s5.
In New Orleans the opening on January
was 6.sa-S5 and the close at Z 90 10. the high
and low selling being done at tn and 6.s2
respectively.
Everything considered. indications seem TO
be propitIous for another rise. which may be
expected tomorrow.
Late reports were to the effect that cotton
Mailing nm, fha eurh n MAN. yorl n. ~,