The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-27

however. wero ~ al. %

:, .,,vth,nr They wiped out the early gains
but could do no more, as, to all intents' tne
| future markets are unchanged, the range De-
| inr from 1 point down to : points up' Win
| most months unchanged.
| The shorts arc extremely nervous. Engage
! ,ncnts entered into before the advance are
| proving hard to hill.
Holders of spot cotton feel that they nave
| things in their hands. They know that spin
| ntrs are purchasing freely and that the cioth
market Is buoyaut. They pay little attention
| 10 the reports of heavy February movement.
| The severe weather of late has destroyed whdl
little cotton remained In. the fields, and 1t VIII
| Sc On be time to break ground for the new
| crop. which it is confidently expected Will seii
nrproxjmately at S cents in New York by
August.
In spots, Liverpool is up Lied, and in CAL
weston. where there is a little squeeze, there
is an advance OF 1-l6c.
Receipts at ports today. were 22,,o6 against
81. a6i last year and $500 in 1895. So far for
tho week they are now S5,s4I behind last week
Estimated receipts at Houston tomorrow
are 27oO to $500, against 5aia last year and $40
in 1895.
Now Orleans expects $500 to 1900 against
Ii $40 last year and 1882 in 1895.
New York Cotton Market.
New York, January pa food Of outside
investment orders and heavy covering by
shorts sent cotton prices UP in whirl at the
opening this morning, opening sales showing
all advance Of 8 to points over the close OF
last night. The bulge was followed by an al
most equally heavy break under an avalanche
Of realizing sales ana quick turn OF Leading
bears. While showing more or less ieYerish-
ness, the market steadily improved later IN
the forenoon, and in fact during tins rest OF
the session. The opening furry was directy
due to very strong English cables and pulilsn
advices from nearly all portions OF the cotton
belt Even the more rabid bulls were hardly
pieI AIRED for an advance of 70 points IN
f,liures at Liverpool and an advance of lisa
in spot cotton. That the shorts w5rc scared
for time is putting II mildly. but WIKI later
advices Of a less bullish nature the local
bears regained some OF their old-time COM
posurs and took a more conservative View OF
the situation.
The commission houses received large teie-
pfonic orders, while the wires were kept hot
with business from outside points Tne un-
loading shortly after the call had little infu-
euco with strong holders of cotton, many OF
whom believed these sales to be for the gem
eral good of the market in that II did much
10 eliminate weaker holdings from the situa-
ton.
In hammering the market the bears only
succeeded in creating additional extensive
rose intended. Liverpool bought and sold
all through the session Orders from the con
t'nent were chiefly for the purchase of the
around the opening, but Letter in the day was
conspicuous as seller OF August and the
new crop months. Crop news vas practically
a reiteration of information received earlier
in the week. Later In the afternoon prices
s.owly gave way under realizing and Liver
pool arbitrage business. The market closed
steady. l point lower to net higher.