The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-11-14
Houston, New York and New Orleans De.
clined l-8c Each.
An ADVANCE ON THE LIVERPOOL MARKETS
spots up 1-32d, Futures 1-84d High
er-Decline Here Crowded Ont
weaker Factors.
American futures II to II points
down.
Liverpool futures MP 1-e4d, spots
mp 1-32d.
American spots generally quiet
and lower.
OKNNU VI = NC 7 III
Houston. Monday, November 10.

Houston. Monday November 10.
Like MoGinty. today's cotton market went
down. The descent was not quite to 1.-THE
bottom OF the sea- but 1t was very marked
and OF such nature as TO make the situation
interesting for every one concerned.
At one time during the day New York
futures went Is points lower than Saturday 8
closing. Part OF this loss was later recovered.
however. and the market closed from Il TO
10 points lower than Saturday.
New Orleans decline was from IS to II
points. Both markets opened few points
higher than Saturday. but. after some little
s,eadiness during the early part OF the day
the prices declined steadily until a short time
before the close. when the gains noted wero
made
determined effort TO crowd out some OF
the weaker traders who were unable to put
up necessary margins was one OF the prin-
cipaI causes Of the decline. 1t is generally
believed. and the bulls say that the market
is stronger than ever before. There had I'M
doubtedly been considerable pyramiding.
which always makes dangerous market.
Predictions that within the next few daYs
prices Will show material gains are plentiful
and it is confidently asserted that ere long
the ,op figures Of last week will again appear
or the boards. The argument is made that
the present situation Is perfectly logical
-.r,i. q, exi..ynv condityon. ma ,h., ror
that some OF the weaker brethren are frozen
out the market is generally stronger. and
ready for a good advance.
Ono thing is proven very conclusively by
the many and material changes which have
occurred during the past few DAYS. and tina.
is that the man who enters the speculative
cotton market without at least as much
money as faith In his own ability. is az
iremey likely to leave the arena poorer
II not a wiser man. OF course there is al
ways in evidence the individual who claims
to have known exactly which way tho cat
was going to jump before the leap was made,
but 1t is noted that he is no oftener on tho
right side OF the market than some of those
who have less to say
Spots were generally quiet and lower aud
result very few sales were reported
Liverpool, which was 1-s2d w. reported the
sale of 1900 bales. but In the American
spot markets the conditions were quite dlf-
ferent. Houston went dvwn &c. Galveston
l-l6c. New York lac and New Orleans &c.
Among these markets tho only sales reported
were at New Orleans where 800 bales
changed hands.
Liverpool futures closed at nm advance of
i-sid over Saturdays final figures. but de-
cline OF few points is expected in that
market tomorrow. following the break on
this side today. Last Thursday the lowest
month in Liverpool was quoted at price
above 4d. Now November, the highest month.
Is on the boards at 3.62-Ss.
Evidences OF the results OF last weeks top
prices are beginning to be shown In the
movement. Houston's receipts today were -
o5s. against 1i.so4 on Saturday. and the esti-
mate for tomorrow is from $4,000 to 25 900.
as compared with 2l.SS7 last year and 90 2i5
in 1897.
New Orleans expects to receive from 10 900
70 u'oOo bales tomorrow. The figures for
last year were 2i.4ss. and for 1897 they were
$500.
January In New York opened at 7.s4-s5 and
closed at 7.1s-l7. after selling high at 7s5 and
low at 7.O7. March cotton on this market
was quoted at 7.4i-4e at the opening. sold
high at 7.43. low at til and closed at 1904.
January in New Orleans opened at 7.Os-1O
and closed at SIS. after selling high at 40
and low at 6.sl.
The New Orleans Times Democrat saws OF
matter concerning which there has been
much discussion:
The bureau report seems to gain in author
ity. as It 10 studied in a calmer way. II ia
evident. indeed. that the government has
takeh unusual pains to pursue the investiga-
ton along independent lines. 1t has always
seemed monstrous that the agricultural de-
partment OF mighty Nation should be made
the Laughing stock OF the exchanges: but facts
are ass,d stubborn s things In truth. there Is no
scandal, and tho dictates OF self-interest re-
auire the producer OF cotton TO demand that
} edS i<poitS DO uiuub " square with the facts
with all possible precision. Such candor
might occasionally affect the price in an ad-
verse sense. but the ultimate result would
be wholly beneficial.
In the present case there is tendency to
throw the bureau report aside, as being a
mere creation. OF the farmers fancy. but many
surrounding facts point TO the possibility that
the official estimate reflects the truth iust as
the human reason, In all Its divine perfection.
speaks forth ever and anon. from beneath
the teep disguise OF this madness OF Lear
Mr. x. Yakno a Japanese cotton buyer. has
been making extensive purchases OF cotton in
the Southern States. About week ago he
reached Memphis, where he will remain until
d middle OF this month. few days ago
be was Introduced at the cotton exchange In
that ely who're he explained that recently
mere had been a marked Increase In cotton
nspufanturs In bis country. japan. be said.