The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-03-21
n THE COTTON MARKETS
Statistical information from the Leading
Exchanges Of The United States.
THE FIRST Big SLUMP OF THE SEASON
All the American SPOT Markets Take
a Tumble and Deliveries Collapse
IL TO 20 Points.
onico OF The rost.

Houston, Monday, March 90
Todsy's market was decidedly the worst
during the present season. There was neayy
liquidation on the assumption that receipts
would be heavy. and when Houston posted
an estimate fonr times greater than last year
another drop was added to the loss. This fact
shows the really ludicrous side Of cotton or
nry other Kind of dealing in future deliveries
Of rroducts. 4 vas estimated that the crop
vould be il. 10000 to 100000 at one time
yet al a later period this was sealed down
a least a million bales. Today, because
Houston got a few extra bales on basis oil
an eleven million crop, prices dumped and
ye, the whole amount received by Houston
Should have cut no figure. Doubtless many
SPECTATORS were IN mood to turn loose
and merely wanted an excuse.
Cali money was high in New York. and this
was factor in the speculation, causing many
holders of cotton to liquidstc. Tho difference
between the high and low points ranged from
II to p points, wider range than has been
recorded this season in any one days specu-
lstion.
The American spot markets got good shak
ing up. Houston and Galveston closed LII
OF. and New York and New Orleans is lower
There was great activity in futures at New
York and New Orleans, and fluctuations
we're wild and rapid. At times it seemed al
il bull panic would result, but large pur
clases toward the close caused reaction.
Al the close. while Liverpool showed onl!
f;om i-s4 to 2-s4d, New York and New or
leans were IA to II points lower than Sat
urday.
stop loss orders were numerous and plenti
| full during the decline.
Houston expects tomorrow 5000 to go
against 27s3 last year, and 5273 in 1895.
New Orleans expects 1900 to $500 sgsins
$50; last year. and 1852 in 1895.
Cargll & Richardson say: This was
sorry day for cotton. bulls prices in Ameri
can markets almost in panicky condition
WIN enormous liquidation IN order. Liver
pool was not at all bad this morning. tina
market closing steady, III 10 2-64d lower tha
| Saturday, which was a response TO our de
| cline Of Friday and Saturday. Liverpoo
SHOULD he 3sid down tomorrow In New Yor
| prices were we'll maintained during the earl
| scs sion on good huying by Hubbard Mum
| 4nl Liverpool, the latter taking the earl
| mouths, in which LIQUIDATION was the heaviest
] but we're free sellers OF late months Tbi
| buying soon stopped, and long cotton starte
o. erboard causing a weak market until shor
| time before the close when a sharp resctlo
| OF points was seen in New York. The esti
mites AZ New Orleans and Houston wer
| twice the amount received a year ago Por
receipts 1o.6o0 more than last week, and 70
| more than last year. Memphis and August
| received $3.50 vs., 1855 last year, The weathe
nep showed clear in Texas with consderabl
bad weather in the Eastern belt, ahhoug
! Sunday was clearing and warmer.
| The long interest in cotton has been lidui
Gated to quite an extent, and while a shar
| reaction Is likely at any time It will be har
| 10 bring into the market the large buyin
| necessary to advance values materially. w
believe, however, that anything further whic
may retard preparations for a new crop woul
induce free buying.