The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-09-22
COTTON UP TEN POINTS.
A Quick Recovery at New York and New
Orleans.
llvtppOol's fIRMNfSS WAS A SURPRISE
Every Effort being Made by Spin
ners to Get Cheaper Cotton--some
of the Reports Circulated.

Cotton recovered part of its loss yesterday, /
futures showing an advance Of 10 to II points (
in both New York and New orleans.
The spot situation showed some improve
me-. though prices were advanced at only
one or two places.
The future markets were very surprising
especially at Liverpool. Instead OF the 4-64ths
decline expected an advance OF l to 2-Aths
was established. The strength abroad was
reelected in the markets right at the start
New York bidding furiousy with prices ~
points over Thursday. They continued 10
advance. adding 10 points more. then quick
slump. and a more rapid recovery, with easi-
ness the order at the close. The range Or
January at New York .. 1886, 943-s.5I,
q ueI;. New York closed to il up New
Orleans 10 TO IA up.
Yne strength in Liverpool was on buy
ing BY the continent and by zeraga & Co.
and in American markets by Texas. who had
cold rams to encourage them Rains at this
time are not needed, in fact, they must prove
somewhat harmful TO the open cotton, but
n sunshine follows very little harm will be
done. except 20 lower the grade Memphis and
Augusta received 47l2 against 4s4s last year.
Houston and New Orleans estimate 1900
against Z2Vvy last year
New York wired CarglIl G. Richardson at
the close: Free Offering of spots throughout
the cotton belt will prevent improvement
end We think cause market to decline y
IS strange to note the improved crop accounts
which pour into the market on decline. with
the exception OF the Carolinas adyices are
handy without exception for crop 10 to Is
per cent better than last year.
Charlotte, n. c., wires: The recommends
ton Of she Southern Cotton Spinners asso-
citation that its members eurtail their pro-
duetioh OF yarns az much possible for
sixty days has been complied with by enough
Of mills TO bring about reduction in the
Southern output OF about 40 per cent. Two
large Wills al Maiden. n. c.. have suspended
operations altogether,
Cables from Manchester, state the GUARDIAN
says that there is not the slightest prospect
Of prolonged scarcity OF cotton, and adds;
''whstever the American crop, IT Is certain
the consumption OF American cotton will be
substantially reduced by the abundance OF
the Indian crop now approaching maturity
New Orlanns firm writes All ot these
factors are being used as bearish arguments
and Of course as long as the mills In Eng
land and America continue on short time
and there is only a limited demand FOR spots,
values might decline further. especially q
the predicted heavy receipts during October
nlatcrlalize. On the other hand, the verl
policy resorted to by the mills will. sooS
or later. be retroactive, because their en-
eagemeuts in the meanwhile are not beinl
filled. and as soon they endeavor to bu,
their complement Of cotton a sharp reaction
would IN all probability, be immedistel
reaized.
The farmers and spinners are now hrough
face To face to solve the present problem
The producer has the strongest statisticc
position known IN his favor. and the mills {
tho world are practically bare OF cotton.
is to be wondered that tho spnners are usin
every endoavor to secure the raw article d
cheaply as possible under tho circumstances