The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-22
COTTON HAD IA BIG ADVANCE.
The Continued Droutl1 in Texas and Higher
Liverpool the Factors.
New Orleans Closed Thirty Points Up-Spot Markets
One-eighth Higher at Houston, New Orleans
and New York-Better Demand.

Ing the market literally. Choice bits OF bull
literature were sent out from all the markets
Liverpool said manipulators were at work in
| their markets. New York told us that Texas
| had deteriorated rs per cent in the past two
weeks. New Orleans contributed the follow
ing There is no danger OF the market de-
| clining today; advices from Texas are alarm
ing, while Fall River and Manchester have a
rush on hand. Tomorrow's weekly bureau
VII show Texas very thirsty Another wire
| said; Market has withstood some heavy
selling, but has absorbed 1t like sponge.
| II the bears don't send rainmakers to Texas,
look out for squalls. They haven't forgotten
| Nell yet, and the following was contributed
NELL said last December that the American
visible supply would be 100000 at the close
Of the ss sea ooo A. fair estimate i viii turn
teriorating seriously under present weather
conditions In this State, and with continu-
ance OF hot west winds higher prices are in
order
New Orleans La. August q w H. Bach
eller & Co, Ltd saw of cotton:
The continuance OF dry weather In Texas is
becoming alarming and in consequence and on
higher Liverpool (5-64 ON futures spots un-
changed sales 1000 bales) our market opened
with an advance of 20 points. Part of this
was lost. however. upon some selling orders
based on the belief that Liverpool would not
hold the advance. but upon the final close
of that market prices reached almost to the
hrst high levels OF the day. The month of
August is probably a critical one for cotton
and with any further unfayorable develop
ments the cotton business is in such state
that the option market viii unuuestionably
respond to the influence with further rise
in values. 1t is certain that at the moment
nothing could be hoDed for better in the way
of consumptive demands than we are now
experiencing as is shown by tho very large
exports OF manufactured goods from this
country at satisfactory prices. it is only
natural that cotton should enjoy little pros
perity in turn as everything else Is full OF
activity. goods are steadily advancing and
spinner and manufacturer alike can look for
ward to season OF profit
New York Cotton.
New York, August 21.-There was an erratic |
market for cotton futures today. Great |
strength and speculative activity were de- |
veloped The course OF the market was very |
but in the main strongly upward |
on demand from all classes Of buyers. The |
opening call started Mt an advance OF points |
and finished at an advance of 10 points. hav-
Ing gained bullish Roadway as 1t progressed |
Later in the forenoon the advance was in
creased by 1922 points This Improvement |
was due TO the intensely bullish character of
accounts from the Southwest aud more par
ticularly from Texas. English reports re
ported disposition TO follow the advance.
Later there was some realizing and smart
reaction in prices but strong demand
sprung up and prices again started upward
until the market was 92db24 points higher
than SATURDAYS close for the active months.
The market closed steady. with a net gain
Df II to "A points.