The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-13
Futures "a 60 20 points MP.
Houston spots 1-sr higher.
Liverpool 10 1-2 TO 11-0Ad mp,
ONCE OF Ths Post
Houston, Monday, February i2.

Houston, Monday, February H.
The bulls In the cotton markets had 5000
time again today. They took charge OF al
fairs early In the day and after that the
bears had not the ghost Of a show.
The New York markets were closed on ae-
count Of the holiday and as result the only |
future market In operation on this side was
New Orleans, which scored big advance.
Early Liverpool cables were OF such ma
ture as to be gratifying TO even the most
exaotinr bull, showing. as they did an ad-
vance Of about 6-e4d over Saturdays hgures'
This. however. was not circumstance TO
what occurred later. AS a result according
20 reports OF heavy buying for the CONT !
mental account, prices continued TO soar until
the close which showed contracts TO be lO's
70 l1-64d or about 80 American points, higher
than the last quotations OF Saturday spots
we're s-s2d higher and at the better prices
10000 bales were sold
This condition OF affairs could have hu, one
result, OF course, on this side OF the water
New Orleans showed It's sympathy with Liver
pool by opening at an advance OF 10 points
For few minutes most OF the traders doing
business were at loss TO determine which
way the cat intended TO jump. FOR nearly an
hour prices ruled rather easy declining at one
time q points DelON tue VPtulbh 40 ~ AN1HAb "s
realizing by those who were long on the
staple.
After that, however. there was oaiy ono
side to the affair Prices commenced to i'm
prove and continued firm and higher NIL dur
lug the day tha close showing an advance Of
~ to &C points over Saturday.
There we're few reports as to the reasons
TOR the sharp advance but q is reasonable
to suppose under tho circumstances that
most OF tho heavy buying was done by repre-
sentatives Of Liverpool houses. who are again
becoming greatly alarmed result Of tho
,act that they are short Of the staple. Then.
too the demand for spots was an excellent
0ne. a material improvement over the past
few days being In evidence Prices went up
&c nj Houston and Galveston and s-lec at
New orleans and larger sales than have been
made FOR a day or two past were reported
from all Of the larger markets.
1t was expected during the day that more
Than lac would be added to Houston spots
but tho quotation committee preferred 10 use
caution and conservatism 10 the premises
rather than TO make too marked an advance
especially In view Of the fact that the Now
York markets were not in operation. How
sver. there was no secret made Of the fact
hat ruuch Of the cotton sold hore during th'
Nay went at prices higher than those quoted
AZ has been the case previously, there was NJ
evidences of any great desiro 10 cell on th'
part OF holders and in practically all cases
II there was any persuasion in evidence it wa
used by the buyer
The movement continues 10 be a very ire
one, but 1t is entirely ignored by operator
on both sides of the market Tho consumer
IN England want cotton and they want
n.h. 1
terribly wrong. that the crop will really he
short one and that unless they pay the hig
prices which are prevailing At present the
may be compelled 10 pay even more In ordo
90 secure the cotton necessary to the opera
lions of their splndlcs. In the meantime tn
holders of tho staple this side arc reapin
the benefit. The only feature TO be great
regretted in the entire situation is that 8
much of the cotton has passed out of tn
hands OF the farmers as TO make their share
OF the profts practically nothing.
So long MS the British splnuers are fairl
falling over themselves in their efforts
tecnre supplies It seems highly improbabl
that much lower scale o. values can b
permanently maintained and on the othe
hand there are many who look for eve
further advances oae conservative bu
whose opinions have proved very nearly col
rect all during the season said today tn,
81 sentiment got control OF the market thei
was no telling whore prices would stop Thi
Is TO say. II the wave Of speculation extent
into centers Il does not usually touch vei
much higher prices may result and be matt
tanned until the buying power is exhaustc
when that condition OF affairs Is broug
,bout, II Il ever is brought about, the gentl
man referred to says he would not be su
prised TO see a break OF 100 points in a sing
day. although the opinion generally y III
the future markets are not without danger.
Thu figure now appears on tho fioust
spot board, middling fair cotton being tn
quoted. MIddling is quoted at sac In How
ton. Now Orleans and Galveston.
Houston expects TO receive $500 to TO-;
bales tomorrow. against aisa last year
es7l three years ago. The New Orleans cs
mate is $1,000 to 10000, against s5ls aud ss7s
May in New Orleans opened al sss-4O a
closed az s.4e-50, after selling high at s
and low az SsS.
The American Cotton company last MOI
shipped abroad and TO New England rs,
roundIap bales The February shipments
heavier and will probably amount TO 40,
bales.
/. z. Grnny & Co Of New Orleans
under date OF February o..
II may now be said that our market is
tween two Ares. We are tonight within
noints Of New York on May cotton, but IL,
pool on the other hand. is far above
usual parity with our prices. Fear Of
proschiug scarcity OF actual cotton is, HI
eyer. the boosting feature now and New
leans Is q spnt market which New York
not The general operator is accustomed
Get Men York about 25 10 IS points alb
this market and he has. therefore. TO his c
IN many cases bought there and sold h
The two markets has been pretty freely
Riained TO many. but there are some
have not yet heard H. Theoretically il is
u.pst justified BY tho fact that New
Axes at the beginning OF the season the
ferenees in pfye between grades deiive
Oh contract. Here we conform 10 the ac
price Ct spotS AT time OF delivery. fhe Z
grades this season are not worth us 3
4 premium over the lower grades as
were when New York fixed the diiicren
AZ New York can not change the relative pr
% each other I'LL next September Therof
= a mAn sskes cotton on contract in
. N al I n n m '. isS 10