The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-10-02
COTTON WAS BUOYANT.
An Advance Of a Quarter Of Q Cent 10 fu'
ture Contracts.
LIVERPOOL STARTED OFF IN THE LEAD
A Good Gain Therc-wenther Condf-
tions by No Means Fnvorable--A
Good Undertone.

Cotton was buoyant from the very outset
yesterday Liverpool started off nicely ana
the spot sales there we're the largest in weeks,
being 5000 bales.
The world appears to be reaching the con-
clusion that the crop will be far short OF re-
quirements and that with the present short
age there must be either higher prices or
curtailment in demand.
No one who analyses the situation believes
In cheap cotton In fact the great majority
talk OF IL cents pound. and they base their
calculations not on theory. but on actual
conditions.
The present supply OF cotton is small, and
the surplus carried over is almost nil. 1t
therefore stands to reason that the spinner
Is short and he must have the cotton and he
must pay for it.
The past decade has witnessed tho most
wonderful changes Ten years ago this
month cotton was worth 10 cents. and from
that point it gradually shrank until lj-l5
cents in 1895 was the price of middling There
were frequent rallies. because the specula-
tors would occasionally get into the market
but there was at all times a lack OF conf
dence. The bears won in every slurmtsh.
They routed the bulls and in their cam
paign they were reinforced by NELL. Per-
haps had Mr.. Neill been more consorva-
tive, the Southern planter and the buyer
would both have Jared better. But when NELL
said a horse was Is feet high. that was its
height in the cotton world.
Neills estimates for several seasons past
have governed the market. and to the detri-
ment OF the planter. This season. however,
the spinner is not pinning his faith entirely
to Neil He has been caught mapping ana
he doesn't exactly know where ne 49,
For instance. the crop is now estimated to
be anywhere between y50O,O0J and 10000 OOJ
bales. This is certainly million short OF
requirements. either on the minimum or max
imum estimate. because the trade would adapt
itself TO short crop II necessary.
Weather reports are anything but favora-
BILE. Mississippi is said to be 500 600 bales
short, Alabama crop is cut down, and 81
Is Lousiaua's, while In Texas the wormt
and storm have wrought havoc.
Then suppose an early frost should occur
And with the peculiar seasons we have been
having the past five years, there is no reason
TO expect anything but something unreasoua'
bic in the way OF weather
There is certainly nothing IN the situation
Of a discouraglng nature The supply Ia mo-
equal 10 requirements cotton planters are
not compelled to rush their stun TO market
the falirualS anu steamships can net hauult
It as fast as offered. II is simply Il ques
ton OF an advance in the price nt piece
goods to conform 10 the price of the raw
cotton.
Spots showed more animation than for som,
days past. New York and New Orleans wer,
up isc, but the other markets were un
changed.
Liverpool futures closed with October OF !
and ali the other months 1854 to 9-6i highe
than Saturday, and this caused the American
markets to take heart.
New Orleans futures opened unchanged I
point OF. but soon rallied and closed at
net gain OF Is to 20 points
New York futures opened to 3 points II
and closed q to % points higher than Satur
day
Following is the range OF prices for tn
active options in New York and Now Orleans
Omen High Inv Clos,