The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-09
IN THE COTTON MARKETS
Statistical Information from the Leading
Exchanges Of the World.
FUTURES TOOK ANOTHER TURN UPWARD
spots NJ Liverpool ana New York
Also Observation-Disclosures Prices
Were Revised.
Once OF The Post,
Houston. Tuesday, August s,

Once OF The Post.
Houston, Tuesday, August s.
Better cables from Liverpool with an ad-
vance in that market OF points, csop damage
reports from Texas. shorts covering and
heavy buying by Liverpool in the American
markets. caused a smart advance in prices and
forced a steady tone. There was also some
local buying in New York by wall street
Liverpool spots advanced 1-32d aud New York
lie under good demand from mills The
market as a whole shows considerable Am
provement. there being a tendency the
part of the bears to admit that prices will 30
higher. Crop reports arc not as favorable as
was expected. the extreme hot winds in por-
tons OF the cotton belt having materially af-
fected tho nlant and should the high tenn
perature continue week or ten days longer.
cotton men are Of the opinion that the crop
in these sections will be cut off considerably.
Houston spots closed quiet and revised:
good middlIng and mddling far being re-
dueed b: no sales. Galveston steady: sales
30 bales. New Orleans steady; sales 1900
bales. New York quiet, lie up sales 1875
bales. Liverpool steady. 1-32d higher; sales
10000 bales.
Liverpool futures closed steady with an
advance of 2-6ii over Fridays figures.
New orleans opened quiet and unchanged
to to points higher and closed quiet and
steady with further advance of to Z
points.
New York opened steady and unchanged to
! to points up. ruled steady. advancing to
4 points and closed steady, 8 10 6 points above
the opening or TO 6 points higher than the
close OF yesterday
Cargill G. Richardson say OF cotton: Weekly
summary OF the government report on cotton
is as follows: while rust and shedding are
quite generally reported. the condition Of
cotton over central and eastern portions of
the belt is somewhat improved. In portions OF
Louisiana and Arkansas. and over greater
part OF Texas rain IS badly needed. and the
condition is less promising than at close OF
previous week, Picking has become general
in Central Texas. and over southern portions
of central and eastern districts First bales
have been marketed In Alabama and South
The advance IN cotton today while small.
was quite revelation TO the herds OF bears.
who have for the past month been getting
out small lines of both spots and futures.
This interest has not been confined to New
York and Liverpool alone. but all over. the
South. buyers contracting for forward sales
and now they are showing d desire to pro-
iect themselves in the future markets, feel
ing that conditions are such as TO warrant a
considerable advance should the trade still
continue to believe that the Texas crop is
deteriorating RAPIDLY under the present hot
dry weather. Liverpool market was good, be-
Ing TO 2ls-6iths IN on futures and l-S2 on
the recipient of many buying orders from
there. Price was bullins the market also.
md local scalpers hurried to cover with as
small loss as possible. The weekly weather
centive for action. a number OF our local
buyers. now returning from Europe. say that
as. soon as the movement gets general. espec-
tally from the continent, where splnners have
been working from hand 10 mouth out of the
Liverpool and Bremen stocks They say that
trade conditions there are excellent and as
rule, do not share in the hearishness which
is so prevalent in America New York
closed 10 i IN, New Orleans 10 up. Spots
l-ls IN in New York. UNCHANGED elsewhere,
Liverpool should show small advance to-
morrow to meet our markets
Especial to The Post)
New Orleans. La August sW. II. Bach
elleT & Co, limited, say of cotton: Liverpool
continues liberal buyer. and the activity OF
the cotton manufacturing business in Great
Britain Is on a scale uneaualied in years.
The profitable character OF the industries
based on cotton is certainly very encourag
ing to the cotton trade. and It would indeed
be strange II lower prices should appear In
a commodity when the business for which 1t
profitable. Liverpool futures were advanced
l-64 10 2-64 today, spot sales 10000 bales.
quotations l32 higher. Instead of the market
falling off in demand, which was predicted
when new cotton made its appearance. we
learn that representatives OF domestic ana
fsF XII dssifass sssass offsssd Easo11aesd
by the generally more favorable outlook our
market advanced some points, closing at
the ton price Summary OF the weekly weather r
ably pretty generally outside OF Texas. which
Is suffering from drouth, Shedding is seri-
ousiy complained of and prospects OF the
new bolls are not as good as last reported.
waxahachie Texas August s--Thc cotton
receipts for the past year We're $500 90 bales.
ing year will not be 80 large as the county
is raising moro grain this year than ever be-
fore. The farmers this year have corn galore
and plenty OF sorghum and hogs.
Especial to The Post.)
New York, August SIS Mum, Son a
Co. say OF cotton Cotton opened unchanged
to ! point higher. cables being about AS OK
pected. Liverpool futures closed points net
advance. spot sales 900 bales. at 1883 higher,
Our market advanced steadily upon active
trading covering BY shorts. Liverpool and
local buying on reports OF drouth in Texas
and Ia anticipation of an unfavorable weekly
government report: huotuated within points
and closed steady TO points net advance.
Tne weekly government report can Ouiy DC
interpreted as being favorable to the bulls.
Cotton is lower than 1t ever sold at this time
OF the year Some weeks back the bears
pointed to statement of Neills, thrown
broadcast. that the Gurpius stock at close
OF season on September OF American cotton
In Europe and America. including stock In
spinners' hands. would be at least io00000
bales. We are now within three weeks of the
close OF the season and can safely say that
he will be more than 1000. 900 bales out Of the
way. which. In view OF the enormous cons
sumption. Is moderate and warrants quite an
advance In prices. The crowd on the door
Is generally bullish and cotton should sell
in the neighborhood OF cents In the near
future.
First BALES.
Forney, Texas, August THE hrst bale
OF cotton was gnned today by NJ l.. Moore
Bro. price So amount premium. sl575;
raised by +. NJ. Adams. on Riters' farm.
The second bale also was brought in today.
Huntsville. Texas August s.--'rhe first bale
Of cotton for this county was marketed here
today, grown bv County Commissioner w b.
Greenlaw on his place. ten miles northeast OF
Hpnteyilie: weighed b14 pounds: classed good
middling and sold to s. Gibbs at 6.55. Shipped
TO Jno. d. Rogers a. Co.. Galveston.
seaiy. Texas. August 1.-THE first bale OF
the season. was brought in today by Frank
Mark; weight 643 pounds. At this writing
Il was not sold. the highest bid being 5h.
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