The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-11-07
COTTON BOOMING AGAIN.
All Future Markets Closed Higher Than
Saturday.
spoI PRICES ARE FIRM AND HIGHER
Galveston, New Orleans and New
York Went Up-Movcmcnt Is
still Very Small.
office Of The Post,

Cotton futures werc very active today and
material advances were made In all OF the
i,adIpg markets. New York orcned about s
points above saturdays clone. and. after a
or. New Orleans close was at an advance
OF 10 TO " points over Saturdays and Ltv-
cipool was 2,k6s-eid no. Houston spots re-
NAMED unchanged. but New York, New Or
leans and Galveston each went UP Lice.
The mo,e ment continues to be so extreme
" small as to excite comment in all guar
tiers. New orleans expects only from 5000
TO 1900 bales tomorrow, as compared villa
26.S3s in 1926 and 3s,l9i the previous year
TO q 100 bales. against i552i last year and
aci6- the previous year. In discussing the
situation yesterday Mr., F. w sowall of
Carson. sewall & Co., expressed the opinion
that large amount OF the staple was beins
Held for still higher prices 1.-The people OF
the South arc natural sellers" he said, from
The tact that they are the producers, but not
wlthstandlng this fact they persist in not only
holding the cotton they have, but in buying
more
In New orleans today January opened ir
regular and firm at 7.1l-l2. and after fuctu-
atlng between ils high and 7.O7 low, closed
a. Ion. New York's January opening was
steady at 1910 ard its close at 7.il-42 the
high selling being done at 7i2 and the low
a, 7,35 The opening quotation for March
WAS 1929 and the close at 7.i4-i5, The
latter month sold high at rs and low at
73s.
Roth of the leading homo exehanges-New
York and New orleans-wil he closed tomor
row or account Of the holiday brought about
by tho election
Estimates, or rather guessos. as 10 this
reason S crop are st,ll very numerous one
very pronounced bull, who believes the total
will not he over s5d0,0o0 has some extreme
views regarding the situation, which arc
given hero as representing one side OF
discussion which can not fail 10 be inter
estipG with conditions as they arc al present:
The bears arc making much Of he large
visible snd invisible stocks OF American cot
ton carried over from the past two enor
nous crops. The question OF the invisible
stocks Is ono OF those things lin tho Ian
puage OF Lord DunurearyD that no fellow
can find out. for II Is hardly to be supposed
that spnnefs would show their books as to
tho amount oa band We deal ouly with the
visible and probable sources Of supply aud
consumption. Visible supply OF American In
the world September i. 1882 1G6- ,6N bales.
Probable American crop, S.1ap 0e0. Total
supply, 10,u265i Ellison estimates the con-
sumption psst year of Amerlc1n cotton, 10
$1,000 Leaving visible Sertenbor /, 1900.
nj 5ttA bales
TITS estimate Of crop Of $4,000 bales
Is based on our receiving 21l f0g more than
We received from November }. 1896 after this
GATE NO sane man cxnects III TO have q wei
81" supply ncSt Septemhef ri only 81. 6Si
bales. Ms above shown. 40 The only solutions
of The situation is to advance cotton to
price where less Will bo used There Is 40
doubt in my mind that VIZ aro approaching
o tme Of groat scarcity and Of much higher |
prices for cotton"
Ellison of Liverpool Is 1uo'ed as sJylne that |
n crop Of only 100000 bales % cotton for |
lhes-isoo will leave the Same visible supply at |
The end Of the season as in 1897, which |
WIS $1,000 Tho following table shows the |
visible supply on September in the past Ton |
Years, and the prices on th1l date a, Iy- |
e'prol