The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-16
IN The COTTON MARKETS
Statistical Information from the Leading
Exchanges Of the World.
FUTURES WENT DOWN WITH A RUSH
Nenrs Crop Estimate of 12,OOo,Ooo
Bales Served the Purpose of
the Bear Crowd.
oface Of The Post.
Houston, Tuesday. August Is.


Mr.. Neilrs estimate OF the cotton crop-l2,
100000 bales-was very much in evidence to-
day as factor in send prices down the road
In rush. The bear element got aboard early
ana did not let up until the closing gong
sounded, when net decline OF 10 points in
New orleans and 10 to IS in New York were
scored below the close Of yesterday The
pulls made show OF resistance soon after
the opening. when the market had gone on
to 10 points on the heavy liquidation, but
even with the rather bullish weather report
they could not check the decline. the offerings
being far In excess OF the buyers wants. and
the to 6 points gained by this effort were
disposed OF in short order, together with to Q
POINTS more, in the rush of longs to get rid OF
tieir holdings. Neill's estimate had been an
ticipated. and nothing could stop the bearish
sentiment already formed before the opening
of the market. The cotton men OF Texas do
not agree with this estimate. and are of the
opinion that If the drouth continues few
days longer an advance will be made that
will exceed a cent a pound.
Houston spots closed quiet at unchanged
prices, sales IS bales Galveston closed steady
as revised, good mlddling and middling fair
! Ice down, other grades unchanged: sales
changed. sales 1850 bales New York closed
quiet, 1-l6c lower; sales 1900 bales on con-
tracts Liverpool dull lid down, sales 1000
bales, OF which $500 were American.
Liverpool futures opened easy, points
,ower. ruled quiet and unchanged, and closed
quiet and steady at point advance over the
opening and points lower than yesterday
close.
New Orleans opened steady, 3 to 3 points
down. ruled steady. August holdings losing
m ia \
higher. and closed steady, with u decline OF III
TO 10 points, net loss for all months of 10
points
New York opened steady. t to 10 points
Gown. ruled barely steady, reganing > to 6
POINTS and closed steady at decline OF to
lG points net loss for the day OF 10 to 10
FONTS.
Cargiil & Richardson say of cotton; Cotton
suffered a severe decline today, caused prln-
clually by Neills boarish letter. which was
published In this mornings panors 1t is
us.ess TO discuss the iorEmcnt, except to say
that he gives hinset cTedi' Tor being very
smart man, ana relates now he has made such
corTe; estimates - the past. but ne docs
not gall cur attention 20 lila remarks last
Novcnher when ne tolJ Us that 40O0.uo0
bales had been plcket II. Texas. HIS letter
Was very uearish ana caused heavy llauida-
tlon. whire. with ha-meriuE by the New
York CONTINGENT. M1hr ane HagndoFh. ana
selling Is houses with Wall street conncc-
lions. bliCes raudiv declined. The weekly
weather reupst for the cotton belt was some
yul- tull.sn aud su5tAlucd values tempor-
arilV and f-W Texas weather bulls added
'b-h hi to the supNcr, but with the mar
h,t acavilv loaded with long cotton, which
las accumulated the n1st two weeks the de-
sirt TO >ell oyerpoYertd eTcIythinG. A Re"
liabi showers were i,petted ia Texas. but
Indications for further moisture are missing
rae government eNpcrt WHO carefully went
ever the Hooded district in Texas reports
q 900 bales ms the probable loss, but no