The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-09-06

than it was year
Houston spots w., yester-
day and middlins 1,1s1a ~ o, at
. l1-lsc, as compared " %Ta ssev % e,
time last year. ~
The price of middling at intcrlo
points yesterday was 1899 Lac 4,
pound Several thousand bales were
bought at that prce and those wanting
the staple are ready for more at the same
figures
Much of the cotton now reaching Hous-
ton is good middlIng and that is quoted
locally at 9 1916. while a grade just a
shade better readily brings 10 cents.
The lowest grade OF cotton quoted on the
local market known as low ordinary. is
worth 1l-16c. The same grade only
brought S-4c year ago.
In other words, twelve months ago cot
ton was selling in Houston at $40 to sS3
per bale. Today he price per bale ranges
from saS to $50.
Yesterdays market was one of the most
buoyant in months
For the first time in weeks Liverpool
came into the ring and bought. Day after
day recently the sales there have been
ranging between 1000 and 1000 bales but
yesterday they leaped at one bound to TO-
900 bales
1t is certainty that the European SPIN
ners need the cotton, otherwise they would
not buy and pay the prices now demanded.
At the same time the scarcity of the real
stuff justihcs the prices exacted, and some
ardent bulls are predicting further ad
vance.
Should Liverpool make few more 1000
bale dips the stock of American cotton
there will be greatly reduced because it
is simply not to be had, and the movement
is still backward.
1t is the actual cotton that Is now
wanted. There is no longer any getting
away from the fact that the supply and
the demand are far apart. All during Au-
gust the foreign spinners held aloof and
sales of 1000 bales were the maximum in
Liverpool. On Tuesday sales in Liverpo |
were 5000 and yesterday they aggregated
$1,000 bales.
There is today a firmer undertone TO the
market than there has been for decade
past at the opening of the season.
There IS some talk of English mills
shutting down rather than pay the pre-
vailing prices for cotton. Should the
Manchester and Lancashire spInners go out
of the market the field would be occupied
by the American mllls-North and South
SO there need be very little fear that Eng
lish mills will close down longer than is
necessary to clean up the machinery.
~
Yesterday there was strong evidence OF
demand for spots for early delivery.
Liverpool put prices OF spots up s-tsd.
New York was up lac, Galveston 1-lc and
Houston 5-1ec, while New Orleans was up
a.sc on low mlddl ne and below and lac on
middling and above. Havre was also up
ga on spots.
Nearby futures show inherent strength
and are relatively much higher than either
winter or summer delivery.
Liverpool opened 56i to 1854 UP and
closed with September up 1864 and other
months 5-s4 to 7-s4 higher than Tuesday.
New orleans opened at an advance of II
10 ls points and closed with September up
:, noipts. october As and the rest of the
list A 10 IS points higher than Tuesday
Now York futures opened to IA points
IN and closed at an average Of 80 to 81
points higher than Tuesday
Following IS the range Of prices Tor the
active months IN New York and New Or
leans;
In New York ,,.a
oct,her s.s2-ss SOS $50 s.oi-C5
.Isn,,srv ~. $3.50 s.4 s.5s s.Ss-si
IN se" ss7 200 s.s5 s.ea-sc
January II. s.4s-a5 SIS SAP s.'S.fs
The market speaks for itself 1t looks
.wtully bulllsh and with Liverpool IN the