The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-20
IN The COTTON MARKETS
Statistical information d the Leading FIX
chsRles 81 the United States.
FUTURES ADVANCED EIGHT TO TEN POINTS

olace Of me Post.


vi Office OF The Post,
Houston. Wednesday, July fe.
From the steady advances made in the fu-
ture cotton markets for the past three days,
It looks very much like August cotton will
reach the Sc mark Liverpool also seems in
ciined to favor the advancing of prices. as
was shown today with a 2-pont rise and a
steady demand for spots and large sales. Cot
ton men think the upward tendency will con-
tinue until the end of July. or probably fur
tner on when the crop prospects are definitely
settled and an accurate estimate OF the yield
can be made on which prices can be based.
The advance today was probably due almos.
entirely to the exceedingly firm Liverpool ca
biss and the covering by shorts on contracts
Spots also advanced at New York and New
Orleans. with an increased demand by foreign
splpners for cash cotton. Advioes from bro
kers are TO buy and take profits on the ad
vancing market.
Houston spots closed steldy at unchanged
pices; no sales. Galveston closed steady AMI
unchanged; SAILS u bales New Orleans closed
firm as revised being isq3-16c up: sales 300
bnies. New York closed quiet l-l6c higher
sales 420 bales. of which 500 were for export.
100 for contracts and 90 to spinners. Liverpool
closed Arm. with fair demand: sales IL 900
tales and exports 90o0 bales
Liverpool futures opened quiet and steady, l
point higher, ruled steady with further gain
Of point, and closed steady at the same fix
hres. net gain OF poilts over yesterday.
New Orleans opened steady. to points up
to l point lower. and closed steady with a
further advance of to 10 points, a net gain
ever yesterdays closing figures of 10 10
points. August being at the top.
New York opened steady. to points up
ruled barely steady with a further advance OF
! to points, and closed steady. to higher
net gain Of to points for all months, Au-
gust September and October being at the
higher figures.
Vow orleaps. La, July 1e.--W II. Bachel
Ter & Co. limited saw of cotton and grain :
The cotton manufacturing business con-
tuues on satisfactory and profitable basis
with evidence OF a large demand the world
over aud for a steady and possibly inereas-
Ing oonsumptive demand for the raw ma
terial. Our market opened l TO points
higher In sympathy with steadier Liverpool.
with futures there nearly 2-6iths better. spots
unchanged. sales lo,e0O bales. With the ex-
Cepuon OF some scattering complaints croD
accounts we're construed hy the bears as
favorable Their nervousness over the situa-
ton. however was illustrated during the
Closing hours. as shown bY the sharp adj
vance on shorts covering The recent lioui-
dation of longs has taken a big load on the
SPECULATIVE. market and the market is now
IL condition where extreme Susceptibility to
any change In crop condition is inevitable
TINS was demonstrated by the quick rally
following reports of damage in Texas by the
recent foods Chances are now more in
favor of an advance than further decline
Wheat news from abroad has been OF
character 10 encourage bullish operations
the tendency hcinc steadily downward with
English cables again today reporting lower
grain markets, influencing easier opening on
this side. Continued fine weather in every
direction and liberal receipts also depressed
and sluggish demand for the cash property
and large quantities OF long wheat were
thrown on the market
Corn ruled on weaker lines partv in SYM
nathy with wheat, as well as bv glowing &c
counts from the corn belt
Oats were dull. but remarkably steady. with
prices UNCHANGED at the start
Provisions showed moderate strength In the
beginning with a slight advance recorded
In all departments. Both export and domestic
cash demand were better today.
wlnona. Smith County. Texas July 1S-
From farmers who have been in wlnona
Yesterday and TODAY The Post correspondent
has learned that there Is a small worm de-
str1ync the cotton. The worm was FIRST
noticed on crab-grass In the corn fields about
fifteen or tyontv days ago. when we had so
much rain, From the Erasa IL went to the
fodder on the corn, hut now they have at
tackled tho cotton In several fields. but Is
where the corn and cotton iolns Among the
farmers the worm Is called by some the
grass worm Some call them the corn worm.
while others say that they are the regular
army worm. hut 1t matters NOT what the
a.ts lie Ina t
done 10 check them the cotton crop VIII be
ruined for where they leave n stalk II Is
dead not only stripped Of its leaves. but
dead.
Gonzales. Texas. July 1s,--There is some
talk OF the cotton worm here among farmers
and It is likely that they will show SUP II
showery weather continues. No boil weevl
to speak OF. as the gathering IN of the hrst
lot OF squares and forms seems to have de-
stroyed the insect. Cotton Is ipe and prom
iscs full crop Some light showers have
fallen in the past week in the county.
New York Cotton.
New York July l9.--The shorts were scared
today and the New York cotton market ad-
yanced to 10 points There was nothing
particularly new to account for the rise ex-
cent that the English cables were somewhat
better and cron accounts somewhat less ia
yorable. bIt only somewhat IN either case.
The feature of the English news was inaica
ton Of sustained II not Increased. interest
In spot cotton al Liverpool. tend,ng TO con
i!rm the proposiuon that American cotton was
wanted for foreign CONSUMPTION TO meet the
requirements OF orders for cotton goods Pri-
sate cables were quite pronounced on tnis
point and gave considerable epcouraRemtnE
especially In keeping with an Increased for
eign demllt Tor futures seen a. this point
today. Wall street parties were. also pretty
good buyers throughout the session. but COW
eriDg was the principal feature. The shorts
were tie PRINCIPAL buyers. The deficiency
Of rainfall in the cotton States was potent
factor in deciding the shorts 10 cover. Tais
figured up since March as follows; Col
pmtia. $. g.. l.S inches: Charleston. 6.l;
sAyannah. %; Atlanta. 81. Mobile, 80:
Montgomery. l34 New orleans. 11.9; Shleve,
port. 1911. Little Rock. 10: Galveston. 49,
and Memphis. SO.
While Il was generally known there had
BEEN q deficiency Of rainfall at most points
1t had not been understood SO decided as
announced The bears distributed their posi-
ton which has been predicted on decidedly
grave assumptions. The ANALYSIS OF ths
weekly government weather report indicating
an absence OF rain over large part OF the