The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-11-17
Home Futures Closed at an Advance Of z
to I Points.
SPOTS SHOWED CONSIDERABLE STRENGTH
Home futures 2 to points MP.
Spots quiet and unchanged.
Liverpool futures lower; spots I'M
changed.
Office o, The Post.
Houston, Thursday, November Is

Houston, THURSDAY, November 10.
Everything considered the American cotton
markets were remarkably steady today. 1t is
now the general belief that some features
which have not hitherto appeared will have to
be introduced in order to bring about any
marked change In prices and all indications
point to a scaiptng market, with the figures
about they are at present.
Liverpool was quite weak. closing i-e4d
down. and In view Of that fact prices on this
held up well. Price was reported large
seller early in the day and some weakness
was the result. The market was
quite feverish for the FIRST three
hours or so. but after noon purchases
by Price and others caused reaction and
the figures gradually went higher. until the
finish. New York closed at an advance of
from 2 to 8 points over yesterday. while the
New Orleans market was from TO points
up.
Spots were mostly unchanged. and their
tone was largely quiet and steady thus fur
nishing an incentive to steadiness in futures
Not much selling was done. although more
was reported than on yesterday. Offerings
were very small and in the Interior there
was practically no cotton for sale except at
prohibitive prices. New orleans wired dur
ing the day that spot people there were very
independent and that some refused to un-
cover their sample tables except at figures
away in advance OF quotations. Now York
spots were revised early in the day. lac be-
Ing added to good ordinary and 1-lec to low
mlddling. the higher grades remaining un.
changed. This made better delivery basis
for tho bears 10 work on and was against
the contract market. Houston spots we're uu-
changed and at the prevailing prices 1865
bales we're sold.
The situation SO far the movement is
concerned remains practically the Same and
no material and permanent change is gem
orally looked for. Today's port receipts were
not as large by Is 0e1 as they we're last year.
Local receipts we're 1906, against l7,5iS yes
tertay, and the estimate for tomorrow IS
from 155oo 10 1000. rs compared with a. 500
last year and 1869 in 1897. New Orleans
expects 10 receive from 5000 20 1900 bales
tomorrow against $3.50 bales in 1898 aud
$500 the previous year.
January in New York opened at $50 and
closed at 1890. after selling high at 1872
and low at 40. March on this market
opened at 7.ai-a5. sold high at 73I. low at
Z % and closed at the opening price.
In New Orleans the opening figures for Jan
usry were 7.O2-03. The high and low selling
was done at 7.o6 and 500, respectively. and
tho close was at 7.e4o5.
Mum advises that this is a good time to
buy some cotton.
Ellison & Co. of Liverpool. in their annual
circular, estimate the import from India at
100000 less than last season, at one time
1t was thought it would be 500 900 bales They
say perhaps 10000 bales more will be re-
coived from Brazil. The average weight OF
Brazilian bales last season was 32S pounds.
against 237 in the previous year. They osti-
mate the worlds consumption OF American
this season at l0,232, 900 bales. and state that
a crop OF aGs2.o0O bales will suffice by using
$4,000 carried over from last crop: they nc
count for the largo consumption for Tie past
year lO.66f0O0 American by the fact that the
average price for the year was only 9-32d
but they add that IL prcas fall back from
40 the consumption viii b. Increased this
year. Bulls do not accept this estlmHte of
the consumption OF American cotton b. any
means. They think it is altogether too low
Cargil & Richardson say OF cotton:
Our markets held remarkably well, con
sIdering tho weakness in Liverpool this
morning, that market closing 4-c;ths down.
with spot takirgs limited TO 5000 bales. The
taring feature, not so much TINT the de-
nlSnd was more than the offerings, but that
the offerings were almost nothins The in
terlor had practically nothing for sale. OK
cept at prices which were prohibitiye. The
mo, ement continues light. and any decided
Increase can hardly be expected now except
an occasional day. Port receipts l5000 less
than last year, estimates at Houston and
New Orleans $500. against 81 500 last year.
Memphis and Augusta received oeS1, against
sSs2' Price was reported n large seller. caus-
ing the early weakness. ana purchases by
MIN late in the day caused some improve
ment. New features are needed TO give us a
decided change in prices, New York brokers
as a rule are hearish while sentiment In the
south continues as bullish as ever We look
LOT scaiping market around present prices.
Especial TO The Post)
New York. November 16--S. Mum. Son &
Co. say OF cotton:
Cotton opened steady, unchanged to 4 points
higher. on better cables than expected, but
later eased off points on absence OF support
and weakness In late cables. Covering stead
ied,market and prices advanced on fair In
vestment buying The close was steady. .
points net advance for the day. Liverpool
closed 4 points decline. Spot sales 5000 bales
AZ unchanged prices. The sudden break of
yesterday and Nieils report intimidated buy
ers during early hours. but failure OF spot
markets to recede from their firm position
encouraged investor and fair amount OF
covering and buying was INDUCED in From
what we can gather. the textile market Ia
practically cornered and spinners are unable
to supply the demand for the next four
months. Spot holders. who really control the
situation. are seemingly fully aware OF their
position and as ''all things come 70 him who
waits, their tenacty in holding their cotton
bids fair to be rewarded handsomely. We
recommend purchasing cotton up TO 7lsc for
January, where We believe II will pay 10
bold II for further substantial advance.
Especial to The Post)
New Orleans, La. November lC.-w. II.
Bscheller Co.. Ltd. say OF cotton:
Considerable nervousness was manifested
during the early trading hours. due to the
conflicting crop ideas now current and the
more favorable opening OF the English mar
ket, left its imprint on prices on this side,
terday's close. However. to the foreign mar
ket alone must be ascribed the easier prices
that later prevailed here. as no visible change
In the situation justified the bears In Their
course as recepts continue light. and crop
news from nearly every portion OF the cotton
belt Indicates that even rbe asricnltuSsl de-
partmept's statement Is a liberal one. Man
ufectured products OF the loom are soaring.
Prices In several grades Of cotton goods made
Jump Of hc per yard yesterday and a
further rise Is looked for. Mills have sold
their products far ahead. and are believed
70 b In sore straits for the raw material.
tho opaHng np Of trade with China should