The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-12-12

american Futures Lost Z 10 II Points
Yesterday.
new YORK MARCH SOLD DOWN TO . CENTS
satisfactory Gain Over Lowest Was
MADE. Howcvcr--Att,tudc Of Liver
pool Spot situation.

Ing OF the bears, bpt for the most part inc
advocates OF lower prices nad Things mucn
their own way
There was not single feature IN evidence
during the day which could possibly be con-
strued as favorable TO the bull SIDE. Inc
movement WAS free. Liverpool was badly Oh
and there was no sustaining iunuence exert
cd by spots. u is true that the interior uoid-
ets made no rush to get their cotton on the
market, but they were by no means backward
at onering their holdings for sale at the
lower prices. 10 1t DISTURBED that prices
went stall further downward all around,
Liverpool being OIL 9ls to ioA-6id, or Is 10
~ American, while New York and New Ur.
leaus showed losses OIL respectively, TO 3
and II TO ~ points. Spots ranged from &c
down in New York to &c in New Orleans,
ana ali Of the markets were weak ana I'M
settled. Liverpool spots were I'D lower ana
At the decline 1000 bales were SOLD. inc
business dcne on this side was practically
nil.
Inc effect OF tho bureau was apparent IN
Livepoo when the frst cables arrived that
market being very weak ana about the same
degree Of loss being shown as at the close.
The home markets were 10 higher at the
Liverpool ana for a snort time values were
we'll maintanoi. the active months at one
time going : points better tnan the opening
Tho bear influence was too strong for TINS
sort OF thing to last however. and soon ad-
ditbonsl selling was IN evidence, with con-
seauent lower prices. About the noon nour
the market became very weak indeed, Marcr
in New York selling down TO cents ana
loss OF from ~ 10 "a points under the OPEN
ing beng shown IN the active months in the
two markets. Before the close, however
he bulls made determined enort TO resist
the advance OF their opponents and partially
succeeded, lnasmucn as at the close they
had forced values UP to to IS points ABOVE
the lowest. With ali OF tire circumstances
considered 1t is thought by the nuls them
selves that this was a very falr showing
There seems TO be considerable apprenen-
sion as to the policy TO he pursued By spot
holders during the next Few days Autnori-
ties are OF the opinion that there IS vcry
large amount OF me staple to DE sold before
Christmas by holders who want money for
the holidays and want n badly enough to sell
their cotton now rather tnan wait TO- the
higher prices which, no doubt, most or them
think viii eventually be brought ABOUT
However, the bulls derive considerable
amount Of comfort from the fact That Mon.
days slump and yesterdays furtner de-
cline did not result in any rush 10 sell. RMS
means. they think, thas spots Will mot %
thrown on the market in any quantity sur
ncient to anect II seriously and that, II other
features remain favorable they are still in
condition to pursue very astivc campaign
Tor increased values II rs argued tnat. oven
" the bureau estimate is correct the world
VIII want more than l0.pOO, 100 bales at the
present prices. Liverpool seems to think
that the bureau may ne about correct, put
rs loss Of yesterday does not; sccordins
10 the opinions held by those VINO profess
10 know. indicate that the bears witt be
given any undue advantage on that SIDE OF
the water. In short, the bull side Is sun
very strongly OF the opinion that the market
WI eventually get back to, Il not above the
cid scale, and that, while 1t may take sew
sral days, they will not be such heavy losers
after all great deal of philosophy is be-
ing brought 10 near Just now anu philosophy
IS always a good thing when one IS losing.
The movement for the day was free, port
receipts being 1898 against 81, IA and "a, go.
houston expects 10 receive ll.uUu q io.uvu
today against $500 and l5li while New Or
leans estimate is 1000 to lSOp1 as compared
with ,06s ana 1873.
Following is the range OF prices Tor the act
i've months in New York anu New Orleans.
opened. ilgn. Low Close.
January ,...... s.sz-a5 s;p sm gu-zz
March ....,.... s.7O-gl s.g2 800 g.lu-il
In New Orleans
January ....... s,psp a.@ $50 s.e-oe
a u ut-t.
Liverpool csbied during the day: ''rnink
hursan about correct. but we doubt II aa-
visabe TO follow rne decline. we tninK a
decline VIII increase the demand t.pinucrs
also expect scutu TO nold. worIa wants
more imam ten million at these prices
said New orleans arm OF brokers: 1T
was rumored yesterday tnst ar. hyde nsd
made allowance for per cent TOR errors
when making up mis- crop estimate. lnis
he denies thts morning, saying that. ngures
wore based on information 10 bis depart
ment-
Another trm SAYS: '"rne market mas re
ee,yed sucn rude snocs from inc estimate
OF the bureau that it VIII take some cime r.,
recover, particularly as rne neayy movement
bears out the predacbion OF a large CROP
The weather an a. m. was repoIAsu az
follows: Paris clear, frost; waco, clear.
g Austin. part cloudy "A: san Antonio
CLOUDY; Galveston, clear, u; Dallas. clear
~; Corslcana, clear. IS.
cargill Richardson say OF cotton: The
Liverpool cotton market met expectations
this morning, futures declinig to ll-6itns,
spots IA lower safes 1900 rhey uio not
seem inclined TO take the initiative. as many
supposed they would. on the oearisn bureau |
which encouraged some buyirg IN our mar
kets by operators who unioaded in me smash
yesterday. Later bssr tactics were resorted !
20. ana with poor support, prices weakened;
but, railing TO dslodse long cotton. shorts |
covered their carly sales, the market aa-
vancins sharply " points from the lowest, |
New York closing. 10 down, New Orleans |
10 to IL down. Spots y down In New ork,
n r. New Orleans, u in Houston aud Gas |
weston. Now that the bureau mas been re- |
ceiyed and digesteo. the talent are turring |
their attention to the spot holder. the move |
ulent and sne spinner. Inc former can con- |
iroi the situation ne will. lie has market
Cd large portion OF his crop at prices at 1
ieas' 70 CENTS per pound over wnat ne
expected TO receive Al planting time. ana
ehouh be Ia very independent positlon.
The question now arises, can the spinner
use the onetinss at the prlcey IT ne can.
he should heHfifate Z, htIy flIr i1vcr-