The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-02
Another Advance on Cotton Futures Was
Scored Yesterday.
WEEKLY FIGURES WERE VERY BuLllsH
spots quiet to Firm-Houston I'm
chnnscd-Interior situation-Mr.
Neill Again.
Futures 10 TO IL points mp.
spots quiet to Arm.
liverpool spots and futures higher
ofhce of The Post,
Houston. Friday, December i.


mand for spots were the principal factors In
influencing the cotton markets today. so'n
New York and New Orleans opened at an
advance and the close showed the former
market 10 to II points higher and the latter
10 to IL points up. Both we're comparatively
steady during the day. although large sell
Ing by Price caused slight break shortly
after the opening.
Liverpool closed at an advance OF Ia 10
1854 while spot prices we're revised, l-s2 be-
ing added to m.ddling and all grades below
st, y, these figures 10000 bales, OF which
500 wero American. were sold.
Home spots ranged from quiet to hrm
Houston and Galveston we're unchanged. New
York closed l-i6c higher and New Orleans
revised by adding 1-lsc to all grades above
low ordinary. Fairly good sales were re-
ported at all the markets.
The feature OF the day was contained in
the weekly statements, the figures OF which
we're terribly significant as indicating the
utter ahsurdity OF the claims of the biggest
crop prophets. The weekly into sight for
instance, showed 267,l75 bslcs, against So
aT6 last year, and total OF i,5i9sol for the
season. Last year a. this time the total was
1851 So. a difference Of i,lio7lS. while in
1861 when the crop was but S,75',964 bales.
the total vas 4s9o,22l against 367 bales
greater than this yeae. These discrepancies
may be caused by the reasons ascrlbed By
Mr. Neil and his followers, but it would We
about the most difficult matter In the world
TO convince the Southern planter that such
IS a fact Assuming that one halt OF the
crop is nov in sight has been the case
or December for years past. the total crop
would be a.osi.7os
The total receipts at Liverpool fer the week
we're 5000 against $4,000 last week and 2il,-
or last year Stock nAost Is 10000 against
a coo last year whilo the total stock .
7sl.oe1 against 10000 last week and $4,000
last yesr All OF these things seem to w
dirato beyond The shadow OF doubt that
the predlcament OF the people on the other
L. E beginning to be a pcrilou5 one and
thlt It VIII Sc iu,measuraoly worse at the
end Of the season unless the European con
sGmer recognizes the justice OF the claims
o. the American farmer and buys all the
cotton that can be bought at the prevailing
gh prices
Receipts at all ports were but 25,s24 against
80, sss last week, 60,il, last year, 5i.2I3 in
1891 and Il, 400 in 1896 OF course the Thanks
giving holiday may be held responsible III
some degree Tor .tne very small movement,
but n ADDITION there is the ever recurring
claim Of the bulls that there is an unusually
small amount OF cotton to be moved.
Rece.pts at Houston were 9o6l and the es-
innate for tomorrow Is 1850 TO - 800 as
compared with 1905 last year aud 1889 the
year before New Orleans expects 20 receive
5000 10 $500 against 5,772 in 1885 and 1851 IN
1882,
Total receipts Mt Houston to date are 1897
s72. or 5lg,ToS loss than last year.
Reports OF the same nature concerning the
Ff.tza Ft.v, tfV.taa
isterior A well known local buyer said IN
III connection today that out OF nifty OF
bis agents at different points in the belt
" no went through the country around their
respective headquarters Yesterday not one
man found any cotton in farmers hands.
January in New York opened at 7.l2a7.50
aGd closed at 1,52G7.5i after selling high at
7.5s aud low al 7.4S. Marchs opening was
st 7,5i@ 50 and the close at J.59n1 80, the
high and low selling being done at $50 and
80, respectively
March in New Orleans opened at 1921 80,
cold high at Z.36. low at !. % and CLOSED NJ
7.3la735.
prominent New Orleans firm OF brokers
wired during tho day; Little cotton for sale,
receipts small We look for some better mar
kot."
In an editorial on Cotton Crop Estimates"
the Cotton Ginnors Journal OF Waco makes
some interesting comments upon the pros
pective yield and also speaks oil Mr., NELL In
rather more favorable terms than is usual for
southern newspaper. rhe journal says;
sixty days ago the journal believed a crop
OF 10000 900 bales was entirely possible, TO-, |
100000 bales probable. We do not hold to
that view now, nor have We dono SO since
November ., our figures are down 500 900
bales lO,oOO0o0 possible, 9,50OOO0 probable.
j Is an open question how much cotton is In
nrst hands yet growers of the more pros
porous class who have been holding for I
cents. who are still holding for va or cents.
OF personal knowledge we know that IN Texas,
in every county. some farmers have on hand
~ least half the cotton they raised this sea
son II IL cotton which has not lett the
farm yet. Every time cotton goes up to Z
cents this boarded cotton will come out OF It's
hiding place. but nothing less than cents
VIII tempt II To market, aud at least one-half
VIII not come for cents. The growers who
hold IL are able to wait They believe their
cotton VIII bring ~ to cents before spring.
ana they are going 10 wait. Ginners interro-
gated on this point, assure us that boarding Is
Delng praeticed. The CONSENSUS of ginners' |
replies may be put In words about like these:
MUCH Of the cotton. We packed Is In the
neighhorhood yet. The farmers sold what |
they had to part with, but many have cotton
at home right now though some have stored
10 Town We have letters OF this tenor from
Arkansas. mississippi. Alabama. Louisiana, |
indian Territory and a few in Georgia. Neither
North and South Carolina nor Florida were
questioned.
Now. how much figure this cotton thus wait !
fnR VIII cut In estimating the total OF cotton |
not IN sight. yet--that Is, not shown In port |
receipts--is hard to say, but We think II is |
more than Is generally supposed. We know
there Is n prevalent idea that the cotton is In |
tho towns, and much of II ID, but goodIy |
quantity Isn't. II IL the waiting and boarded |
cotton--the cotton that Is held for ~ or |
cenis--that NIL decide whether the crop will |
be 9,a00OO0 or 100000 bales Estimates OF !
believe.
Mr., NELL Is practically standing out, as to |
estimates, against the world He is from
4 100000 10 2,00o,0o0 over the general run OF |
estimates. Nobody prctends to match him. |
aud In all candor he has made some wonder
fully intelligent calculations. He has a sys- |
ten Of hts own. and does mt guess, as many
people intimate, and many really believe |
Many believe he has willfulIy guessed on the
bear" side all along. an ally OF tho Ian
eashire spinners. We have seen, only TOO
plainly. the harm his estimates (by reason Of
their acceptance by foreign spinnersl have
done our Southern growers. But We do not
believe and have never believed Mr.. Neil
the willing, wanton ally OF the spinners, we
heys examined and snslyzcd Mr.. Neil's estl-
mates for period Of eighteen years. We
mote = recent newspaper statement that his
earlier estimates we're locked mp or de-
70 BE- seen. That theory Is not
warmed. His hguras for eighteen years
ere acceeaible. 9nd they show thet he has
eeeQ TO tn ae GGures could align HIM about
- tftep on fhs bull as the bsar eide iIn
4elat lhle SAVANNAH VIII surprise macy who J