The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-19
RED LETTER DAY FOR BEARS
BULLS HAVE HAD FULL SWAY. BUT
TIME OF RECKONING CAME.
Orders Came to Sell Cotton from All
Quarters ms soon ms TN" ""'"''
orened-WRiI street Difficulties

Now York, December is.-It was RED ielter
day for the bears on the cotton eNchahge anu
ono Of reckoning for the bulls VINO nave
,rsct,cally had full sway for several months
Traders in view OF the developments ID south
Africa. expected some decline in Liverpooi
aud conceded drop of several points mere
ouita in accordance with these ideas prices
went off ia G points without excitement at
tho start. in sympathy with 2-point loss
In the English market But no sooner had
The onening passed than orders came from all
quarters 10 sell cotton. not small lots, nut
,roat hlorks which had been held for weeks
by presumably strong dealers on the theory
80. cotton would be recorded before
The new wear opened. Close upon the seliihs
orders came on reports of financial H'ihnul''s
IN wall street. The failure OF the Produce
Exchange Trust company ana oil fiehiS A'',N
G. CO. we're telling blows against the oui's,
heavy slump in New Orleans r"p'' ia''
In I.ivorpool and rise in money to rave
equal to 1se per cent caused prices 10 'uu'U''
=. terrific rate All the regulation news was
| discarded the one aim OF all seeming 70 pe ;"
cot I'D of enormous amounts Of cotton aceu-
| mulated m tho late protrsoted rise AZ COM
cared with Saturdays close OF 7ob January
fell perpendicularly to $50 Marcn droppeu
! from 1893 10 700, while May went on %
nolnts TO 100 Houses having extensive ID
terests in stock and securities were the hfa',
est sellers, presumably for the purpose " w.
tor protecting interests on the STOCK eN'"''eN
Tbo South and the West were also TO-
callers Late In the day there was spp'e'n'p. ,
=, I, reaction on profit taking by SHORTS ah'
~. rew buying for parties believing 'u'
.rIo, entitled to decided uplitt Tne eiose
80 fairly steady with tho present crop posi'
Iva % 10 2e points net lower, the TAR OF
80 cron months were TO 10 points lower.
Trading wag by far the heaviest IN seSefa
years.
- porL uacenber 1s.-Almost UMPIRE
aaartaa excitement prevailed on the cotton
d exchange today. seldom II ever IN inc ms,
-, :, Tho institution has the volume OF
business been so great as that transacted TO-
day No official record OF the sales was
made nut It is estimated that the amount o.
.o,ter traded in came near reacnihs ",
a,i,,on hale mark, the heaviest prevloul
! total having been something hhe
There was n perfect avalanche OF selling OF
AIRS until the executive capacity OF com
missjon houses and brokers was tested
neyer before The opening was easy ~
y aecline OF to points IRON thr s,os'h ~
aeufes OF saturday the market ~ sho~n "
/; ne weakest interval broke 20 70 81 points,
J, which time a condition bordering on PAN +,
nreyaiIed The decline was attenusa W
'. tha greatest irrcgulariiy with frequent an
II t violsnt reactions, the price at times movn
BY swings OF 5 points Il was psnde ,hs ra,
;. let loose The original cause OF the eo 70,
RI 800 was the heavy selling movement etarl
: ed nv Wall street interests. Sensational re
ports reached The cotton exchange 70 'ns n
lsn,aiy The more stalwart bulls made mum
, erpus efforts to turn the market, but r
q newed pressure OF long Gotten would max max
" ~ snpearance on every reaction, Inc PIlu
~ ~ 'r,nwayd swing was In the early after
y noon. When tho market moved up "a point