The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-15
Statistical information from the Leading
Exchanges Of the World.
FUTURES TOOK ANOTHER TURN DOWNWARD
Showers In the Drouth Districts and
Prospects Of Heavy Precipitn-
ton the Cnusc.
oface o, The Post

Northeast Texvs were included, aud reports
from some sections state that 1t Is thought
the crop will now make n good yield In con-
sequence OF these rains the bears gained con-
troll OF the future markets today and prices
cropped points at New Orleans and Q TO IL
roin,s at New York. Liverpool closing points
down. Many cotton men say the rains Will
not save the crops In sections where the
drouth has been prolonged, though in other
sections IL will be beneficial There was con-
siderable unloading at the opening, prices this
morning being at small advance, but when
the weather report came In, showing indca-
mons Of precipitation in many portions Of the
cotton belt, with the already light showers in
some places, the longs tumbled over each
other to get rid OF their holdings and prices
snot downward though some of the more bull
ish contingent stli maintained faith in reports
that much damage had already been done and
held on to futures, buying at the low prices.
Houston spots closed quiet and unchanged,
sales 40 bales; Galveston steady and I'M
changed. sales % bales. New Orleans steady,
sales 500 bales New York quiet i-lsc lower,
sales % bales. Liverpool steady, l-32d lower.
with a moderate demand, sales 10000 bales,
OF which 1900 were American
Liverpool futures opened barely steady, to
points lower, ruled unsettled. to points
higher, aud closed steady. 3 points lower than
Saturdays close.
New Orleans futures opened steady . to 6
points higher, ruled quiet and steady. With
loss OF . points for August and to points
fol- other months and closed quiet and steady.
with n further decline OF 10 points for ali
months, the net loss from Saturdays close
being points.
New York opened steady. unchanged to lr3
points higher, with August unsupported ana
September ? points lower; ruled steady, with
October unchanged, September ] point higher
and nothing doing in August, other months
to points lower. and closed barely steady,
with 4 further loss OF to 10 points for all
months. netting TO Y points below the close
Of Saturday.
a. s Johnston. buyer Of cotton at Meridian,
Miss. says OF the condition of the cotton crop;
Up 10 July Is, the date our last letter was
iisUed. the crop was doing quite as VOL as
loud be expected, though never this season
Lave We considered that there was anything in
tls situation to justify any expectations of so
large a crop as last year.
since July 20 the weather has been too dry.
aud the temperature too high, causing rust
ana considerable shedding. This will undoubt-
edly curtail the yield and prospects that once
looked bright for full crop are now reduced
10 point where IL is question of grave
ooubt as to the ultimate yield The crop has
already been seriously injured. and IA further
continuation OF dry, hot weather will prove a
disaster
We have encountered the same conditions
that overlook the crop in 1896 and the stua-
tlon al present can be no more correctly de-
scribed than to reproduce from our letter uu-
der date OF August l5 iS9i The following
we think thai Ia most OF the upland districts
tfeic is no nance for . tor crop. In the
Ftayy lowlauds the shedding has not been so
extreme but on ne wh1iy there has been
serious tamage Zone 10 the crop. In
nc Language OF tire southern darkey, this
Cry Grluth that we hayo recently undergone
ms changed 4 brilliant crop prospect into a
Couhtful one.
T. is ter TOO eaIly 90 forecast with any cor
t5iuty the probable yield suffice II 10 say
produce ten and one-haf millions this season.
90 the contrary. ~ "a more reasonable TO ex-
pct much less yield
tSpccial To The Postl
Nav orleans. August NV II Baohelle'
Co. Ltd, say Of cotton The feeling in
cotton remains stroQg, with the confidence OF
ths bulls uudmlnished, The reaction in Lly
c'pool today topeuing and closing lower on
futures and spots. sales 10000 baesl would
have ordinarily reflected Gnfavorably on our
markets. nut was without effect this morning
our market opened under exciting crcum
stances, the bears making every possible en-
dfayor TO stem the bullish sentiment predoml-
mating. First prices we're at Saturdays clos
ing With rapid advance, but later the hears
BOT the upper band and prices we're lowered.
There were runors at the time that MIR. Neil
had committed himself and that there were
indications of rains in Texas. but neither re-
port has been confirmed There Us no doubt
that recent rains In Georgia South Carolina
North Carolina and Alabama have been d.
benefit but drouth continues in the Western
States. Texas still reports widespread shed
ding and general deterioration in the crop
New York Cotton.
Now York August ii.-Today's cotton mar
ket wavered generally downward, although at
one time about 10 points above the closing
lilces of Saturday Throughout the session
The market was Irregular and at all times ac-
tive. The character OF the trading was not
progressive, and parties who have been build
ing long interests found their holdings to be
tcppiing and considerable part of the at
tention OF the professional element was d.
iected toward undermining this class OF hold
ing, But bulls were numerous, and parties
We're found to absorb the cotton thus offered,
checking the decline when IL reached level
TO 10 points nnder the Anal figures OF Satur-
day.
The main swings OF the market we're as fol-
lows: The opening call started at a decline
of points and finished at an advance OF to z
saturdays figures The upward movement
was due TO the fact that the English market
had not declined 10 match the loss here Satur-
day while no rains were reported from the
Southwest and private advices were particur
larly bad from Louisiana Mississippi and
Texas Other sections also sent in bad re-
ports, Later however. there was a period OF
active LIQUIDATION following rumors OF rains
In Texas and elsewhere The market was
very sensitive and prompt to respond TO any
thing that looked. like a breathing up OF the
long drouth In the Southwest. The phases
Of today's market were bearish on the expcc-
tation OF weak cables tomorrow morning The
market closed barely steady at net loss OF
0 TO ~ points.
New York Dry Goods.
New York, August 1.-THE week opens with
general demand for cotton goods.
and business all around shows an increase
over last weeks average The tone is strong
in all staple varieties and occasional ad-
vances Of VIC. per yard are reported ip four
yard brown sheetings and low grade bleac-ed
cottons. Wide print cloth yarn grain goods
are tending upward. Regular print cloths
very hrm. Prints aud ginghams nrm. with
full average sales Fancy worsteds for men s
wear IN Good request and very Arm.
nssstsn Daily sasten-.s.
Today. sas'day. Year.
S Sss s ssSs's'. III 10 ~ -
0roo& sf)pnepts .,..,. as 9le ~.
NkS1E Il !: ~. =. H. 4b1 ll.U70 b327l