The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-12
in The COTTON MARKETS
Statistical Information Of the Leading Ex
changes u the United States.
THE BEARS HAD THE MARKET IN HAND
CLOSING Quotations Were 10 IL
IL Points below Yesterday.
spots Were Unchanged.
onice Of The Post.



A glance a, the boards today after the close
Of busress was enough to convince any one
thai the bears had the market well In hand.
or also longs were either forced to DUMP
lot nj their holdings or hal weakened on ITO
ta.orat,e government crop report, The OPEN
,,,,. was o,iet with disposition to maintain
,,iees. hut on the call there was drop OF
.evernl ponts and when the close was an
,,o,,need the loss from yesterdays quotation
,,os ahont 10 points 1t is very plain that the
da,iaee to cotton in Texas by the floods Is
,nvinp no effect upon the market after the
oxol,cment has died out. and The bulls are
unable TO produce the 100000 bales shortage
claimed at ne time With continued i'm
proved crop conditions. 1t is likely that prices
will yet 20 loMer, but should there be re-
verse change in conditions those who have
sold long at the lower figures would be placed
in n bad way, for this class of spectators
have been oyercontident that these favorable
oouditions would prevail until all danger OF
crap damage was passed
The spot markets closed at unchanged
prices, except New orleans, when revised
aiGdling Lie up, sales 1850 bales houston
aud Galveston closed easy with no sales
New York closed steady sales 1Sl2 bales.
J.
New York opened quiet to points down.
ruled quiet, / point higher 10 polht iowet,
and closed sieauy with q further loss ot 70
points being TO IL points lower tAah yes
iErCay ugures.
New ORLEANS opened steady. TO points
down aud closed steady, with iurtheT ioss
Of to points, beng 10 to II points lower
tnau yesterdays close.
Liverpool opened quiet at yesterday prices.
ruled Very dull at same hsulss and s'o st
ntg
May. other months at yehtefaay auo'"'i0HS'
New orleans. La July u.-W, II. Bachel-
Ter & Co. limited, say of cotton and grain:
Liverpool was a partial saith lower on flu
lures TODAY Spots unchanged. sales lo'oo'
bales. Private cables imply that the govern
ment report was unsatisfactory gPhs 10
estimate of Texas crop damage nor ndN'hs
amy reference to acreage The June report
slated that by July the reduction IN acreage
would show probably per cent a laCt Aol
10 bo lost sight Of is the stead .sAss oil South-
eru spot markets IN sp.te OF cphHAueu -
vorabie weather which argues thar the ue
msnG for the raw material Is sehu'he anu
speculative, As Jar as the GROWING crop Is
concerned we fail to see IN ~nat respect tnS
recent bureau report mas enlightened lHe , 81.
nation. which remains as confusing ~ " va, We
tan days ago, so u CONSEQUENCE very Httls
interest can be expected TO be mAnltesteo
until something OF decisive nature occurs.
The action OF the gIain market At 'l4e opeu-
iur indicate that at Erst the 'oureau report
Of yesterday was accepted as bearish' he-
ceipts were heavy and the weather through
OUT the wheat belt was reported more ~
vCrable The bulls. however. seemed to de-
rive some consolation from the fact that the
seaboard reported large export demhnu.
which Eteadied prices somewhat
Corn showed little animation. opening at
unchanged prices
Oars showed decidedly the effect of liauioa-
tion by holders and selling by eievaioT peo-
ple cash demand slight
Provisions were dull but STEADY. with prices
slightly higher Liverpool cables were lower
today which reflected in markets on this
side.
New York July lis Num-. Son Co. say
OF cotton;
Cotton opened to 4 points down on weak
cables, Liverpool futures opened y point de-
cline spot sales 1900 bales at unchanged
prices. held steady until after receipt OF
weekly government report which attlueted
no attention outside OF Texas feature. where
loss is estimated TO be one-thlFd 10 one-hait
of crop in thirteen Hooded counties. This was
much better than expected ana led TO free
selling by one firm, which caught stop ordels,
and prices declined 10 TO Is points, further
rallied and closed barely steady II TO II points
net decline from yesterday. The bears are
claiming Texas reports are exaggerated and
further liquidation will follow while bulls
are confident that conditions do not warrant
such low prices anc the future is all In their
favor We still advise conservative purchas-
ing on declines