The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-06
IN The COTTON MARKETS
Statistical Information from the Exchanges
Of United States and Europe.
ANOTHER ADVANCE m FUTURES SCORED
with Rainy weather ana Light RE-
ceiptr. Higher Prices Arc Looked
Fcr-spot Business Good.
{ oface Of The Post.
Houston. Thursday. January 6

Houston. THURSDAY, January g..
As was expected yesterday, there was ar
advance today in all future markets. and
| furthermore, the trade believes that a further
advance is due. They base their opinion or
the fact that there has been veritable slumt
IN receipts. that had weather prevails ovei
| the belt and that It is about time money
which is looking for Investment should 70
! into cotton, which is now the cheapest com.
modify In the speculative line.
The Amer grades are still In demand BY
spinners; but on the other hand there is 90
much inferior cotton that the weight of Il
can keep back an advance. The privilege OF
rendering dog tall on contracts acts agains,
higher prices In the Immediate future that is.
against materially higher values. No one,
| bulk or bear. doubts that cotton will 10 high
| err, but were 1t not for the poor cotton the
advance would probably be much greater than
| IL will be AT least that is the opinion OF
| some close students Of the situation.
| Spots today were steadier than yesterday.
| and concessions we're not as literally. granted.
Futures in Liverpool were dragged UP and
closed al an advance OF 1-S4d
New York closed at an advance of to 4
and New Orleans to points.
Port receipts were 81 400 against 1929 last
Houston expects tomorrow $500 TO 5000.
against 1921 last year and 1881 in 1895
New Orleans expects 10000 to 1000, against
The following is from the New York Com
mercial:
The highest price for spot cotton at New
York during the year was 9.16c for mid
ding uplands. which was touched on May
q, and the lowest price was 5-l6c, which
was touched on September 26 During the
latter part of September the decline In price
was checked. Future during September ran
down to the lowest point on record. and one
month touched 4.esc. From that point there
was some improvement Latterly some in
vestment buying was induced by the low
price ruling, but speculative trading was not
at all what 1t should have been during the
year The movement during the year has
been 50 heavy that L acted as a check to
same time the cheapness of the staple Is az
counted an attractive feature. Crop estimates
during tho year have attracted an unusual
the crop for this year comes on top of the
big crop of the previous year. AS to the
future. It is hoped that active and continued
speculative buying will lift prices up much
1t will be a matter OF interest at this tim.
to review several crop estimates made during
the YEAR
Neill-1l. 500,0 900 bales
New Orleans-Average estimate OF mem
bers. i a6,73, or 12Soo,ooo maximum ard
10. III, 900 minimum,
Thoman-l1 .074 900,
ACCOMPLISHMENTS of so members 1854
277,ooo or 70, 100000 maximum and lo.soo 90
minimum.
New York-Average 100 members. II, los 900,
or l2l9o,ooo maximum and lo.cco.ooo mini
by the members of the New York cotton
exchange it Will be interesting to consider
their estimates for several years past togeth-
er With the actual yield as given in the ap-
pended table.