The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-09-28
DISAPPOINTING MARKET.
The Expected Advance 10 liverpool Failed
to MaicriaIize.
NOTHING MUCH DOING IN SPOT Markets
Futures in new York ana New Or
leans Close Lower Than on
Wednesday.

yestsrday's cotton market was sore as
amendment TO the bulls. They had ex-
perted big bulge in Liverpool, but the
foreigners are extremely tind They de-
clare they can not afford to pay present
prices for the raw material on the basis
on which manufactured goods are being sold
No one doubts this assertion But why not
reverse the language and say they can not
afford to accept ruling prices for manuiac-
tured products and make an advance
There lie no reason for depressing cotton.
The farmer can afford TO pay more for the
articles he must purchase when cotton Is
high than when it sells at the price 1t cost
to raise It. and he is willing 10. Therefore,
instead OF bearing cotton bull the goods mar
ket
The weather and crop reports arc by no
means encouraging particularly in Texas,
where vast amount OF cotton has been de-
stroyed Before the last day Of August, 1901.
the prospects are that the cotton famine viii
be greater than last season ana that the
supply will be lOOo, 600 bales short Of The re-
quirenents. BEING so strongly fortified from
statistical point OF view why should cotton
be cheap?
The westher bulletin showed that in some
parts Of Texas lands were being overlooked,
rain was falling In North Texas and a cold
wave was due. Al OF this was used by the
bulls and they for a while brought prices
UP. but we're unable 10 hold them TO good
level.
In spots little was doing and prices were
unchanged except in Liverpool, where prices
we're i-i6d TO 14d down. and In Houston where
there was decline Of 1-lGc.
Houston expects tomorrow 1900 to 1900
bales, against 1856 last year. and New
Orleans expects % 900 to % 600, against 10.54s
bales last year.
Futures in Liverpool opened briskly, but
later on reacted closing l-6id to 3-bid up
Sew Orleans futures opened at decline
OF to II points and closed with September
down and other months to lower.
New York futures opened with September
down % and other months S to lower
than yesterdays close. On closing September
was on 80 and other options to 10 points.
Following is ths range OF prices OF tn,
leading futures in New York and New Or
leans:
Vpeu. High Low. Close
OCTOBER -. s.9sb 1910 9.e1 5000
January .-.,,.... 3.56-61 9.69 $50 9.5i-5j
in New Orleans
oeloier ........- s.ss-s5 s.9 ga o.5s-se
January ,'''','''' s'o2-@' s'fS S'ol S'So-5'
cargiil &, Richardson Of Houston say IN
yesterday's circular:
Disappointing Liverpool cotton market
this morning 6-64ths was due. and notwith
standing that opening prices were on som'
months s-6lthA higher, that market close,
quiet III down on September October AM
2-64ths UP On January February. Spots lis,
lower for mddling with 1900 sold our mar
ke,s opened easy in sympathy with the weak
ness abroad, but when the weather map wa
posted showing strong north wind AM
temperatures approaching frost In tho Ter
riiory ana the Panhandle OF Texas, wit
reariy an inch Of rain at Oklahoma short
started to biddins, the market adyancini
II points from he lowest; but North Texa
reporting no rain and mider weather Thu
Afternoon, earl%-huyers turned sellers, result
ing m the market losing iis gain, last price
being 10 10 lower ID New York and 6 to
Ia New Orleans Spots l-iGc lower AT Hous
ton, unchanged elsewhere The moyomon
continues on very libern! lines, estimates a
Houston and New Orleans 81 500, against y 90
last year, Memphis and Augusta reoeivln
4262, against iig6 last year Buyers repol
very poor demand for spots, aud say goo
crop sections are ohering more freely a
lower prices The poor crop sections OF ia
state, however, are holding for higher price!
There has been much tan, OF an early fros
this year. which should he In order. Tn
bulls have had evotythug in their favo
30 far, and II rs only natural TO expect tina
'ature VIII continue to aid them. Gro
estimates are being reduced materially Me-
Orleans advises US that 9iA crop Is the tai
there, and large bets can be placed agains
pa. Il this crop rs 9ls millions, prices al
not high enovih; but the weight of spot
with an Indifferent demand may cause ten
porary periods of weakness when thea
prices are seen purchases should prove prom
able.