The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-08
Good Liverpool and Better Spot Demand
Sent Prices Higher.
ALL FIGURES FOR THE DAY WERE BuLlisH
Movement Was Remarkably Small.
Even In Comparison with 1se6.
Guesses ON the Crop.
Futures to 10 points higher.
Spots steady to firm and nm
changed.
Liverpool 8 to 1-2-e4d mp.
Office Of The Post,

favorable to the bull side TO begin Witn'
the early Liverpool cables were I'M
expectedly good and the home markets opened
at m advance OF . to points over yester-
days close in consequence AS the day pro-
crossed figures showing a remarkably small
movement came in, there was considerable
buying by Europe on this side and reports
from Manchester were of the most encour-
aging nature from the bull standpoint. The
markets developed strength gradually and
the close was at net gain or to 9 points
In New York and TO 10 points In New Or
leans.
Practically everything on the boards was
of bullish nature Liverpoofs close was
s-e4d TO ss-s4d higher than yesterday and
spots were 1-s2d higher. at which prices
1900 bales were sold. Spot business on this
side was good. also. and the markets ranged
from steady to arm with satisfactory safes
reported from nearly all points The spot
situation is one which is being watched with
no end of interest at the present time ana
the fact that so much strength was mani
tested today was source Of n great deal
OF qualification to the bulls. who have been
contcrding all along that the weakness OF
the las, few days was only temporary. Spot
prjoes at all homo markets were unchanged.
The nsures showing the movement were
OF such a nature as to bring something akin
10 terror to the ranks OF the bears. Port
receipts wero only 20 ssi as compared with
IS ,oss las, year and 1850 in 1895. the famous
short crop year. Receipts at Houston were
o,6To. against H. 1os last year. while the cSt!-
mate for tomorrow is from $500 to 1850,
AGAINST IS 2l2 In 1895 and 9774 In 1856. New
Orleans expects to receive but 5000 TO 5000
against 1928 last season and $3.50 in tho
short crop year.
It appears that the game OF estimate max
,us is not vet over. New Orleans advices
received during the day were to tho effect
that it vas rumored there that Price, Nc
Coruiek 4. Co we're out With another guess
in which tho crop vas placed at s.S5OOco and
the consumption at Just 100000 more. Then,
100. Il was fumored that the bureau report to
be issued neat Monday would ne a very
bullish document and that reduced esu-
mate was not at all unlikely Altogether 1t
was a field day for the bulls. who feel
that although temporary breaks IN tho mar
ket may occur result OF realizing on
material advances. prices will continue to
go higher until Scent cotton is reached. Re-
ports from the interior are all to the same
effect Conservative persons In the country
claim, as they have been claiming all along,
that the advances of three or four weeks ago
moved the major portion OF the cotton IN
the hands Of farmers and that the amounts
now being held are very ANAL indeed. Wagon
receipts are reported 10 be remarkably light
az practically an points.
March in Nav Orleans opened NJ 1890.
sold high at %. low al % and closed at
Z 25-gs. In New York rho opening on jan
uary was at $685. and the close AZ a. 80.
tho high and low selling heiuE done at : ~
and 7. 81 respectively. March IN this market
ouened at i5-46 and closed at z $3.50. after
selling high nj 80 and low n "a.
Tho following letter was received from the
B. II. Tallev company OF Taylor under OATS
Of the 9TH Instant
Wagon receipts today and yesterday $50
bales, which is moderate Tor this time OF
the year. especially with good weather and
prices being about 7c for round lots.
We note great many reports In the news
papers about farmers holding back cotton,
etc. Parties believing this and making such
reports should 10 to the country and take
little look at the holding OF farmers II the
crop is TO he $500 900 or 10 900 coo bales, does
It look reasonable that farmers would be
piling up cotton. holding II when there has
been good advancing market all the sea-
son.
If farmers have held back large per-
centage of this crop. whore have the banks
got such handsome deposta from in the
country. and where have farmers gotten
money with which TO trade and pay debts?
The fact is business in this part OF Texas
has been better this fall than in Ave years
and We know OF many farmers who have
paid up all current debts. as well as back
debts OF old standing, and many of them
have money on deposit Much old land paper
has been paid on.
There is not as much cotton held by farm
ers as Is usually held at this time of the
year It's true there 10 little more stock
held in country towns than is usual at this
season or the year. but the cotton held In
the towns is such cotton as is usually in
the hflds and in farmers hands at this time
OF the year: besides the stocks. such as they
are. have been decreasing very fast. in the
Past three weeks.
I. r. Glenny 6 Co. OF New Orleans say
under date OF December 5.
Every prediction OF increased movements
into sight has so far been unreaiized, but,
after the two past record breaking crops. it
light movement to date is not extremely alb
normal. As We are at present simply con-
servauvey bullish on the general situation
and do not aim TO be classed among bull
leaders, We mention these features TO i'm
press upon our friends the possibility. which
we nave so frequently touched upon. OF un-
expected breaks. which from their scare ma
ture. give little warning, We consider that
~ is now question OF no great length of
ume when the present diversified crop ideas
VIII .end towards more uniformity, There
~ nttie question that English spinners have
stayedo ut OF the market to an extent which
VIII necessitate eventually particularly lib
erhi scale OF buying on their part III cot
ton is MD away In great quantities, as many
bears contend. they may possibly win out
yet by waiting little longer until 1t begins
to move,
II the reports from the interior and even
the general average Of opinion which finds
expression among conservative men are an
proximateiy correct. an ultimate advance on
THIS seasons crop months at least seems al
most certain.
The interior has rightly earned a reputa.
ton in the east for underestimatiop INT
trey have seemed this year to have realized
to great extent their previous falling In
this respect. and we have noted marked
conservatism In their utterances until a con-
siderable extent OF crop damage had forced
itself Into notice The movement has, to date
SEQ no present indication before us OF It's
ceaslng to do So
With q IS entrance fee for each guesser. the
total to 20 to the maker Of the nearest
guess 10 insure an attempt at correctness,
ffty-three members of the New Orleans cot
ten exchange today made an average esti-
mate of p sy9, O0) bales Last year the average
Of fifty-three guesses In this exchange missed
the crop only about $4,000 bales.
The following statement Of crop gussses
affords an Interesting study:
Bales
Latham, Alexander & Co. ......... BOO, 800
washington agricultural bureau
~. YoTi Cotton b taserase ''
z q ~ memperC ..,-.......,....,....s.sl GIL. 900