The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-16
IN THE COTTON MARKETS
Futures We're Easy at First, But Gained
Strength Before The Close
CONSIDERABLE BEAR FEELING IN EVIDENCE
liverpool Was Down, Spot Demand
Was Limited ana the Movement
LnrEe-Spots Unchanged.
Futures 8 down to q up.
Houston spots steady.
liverpool 3 to 4-64d down.
orice OF The Post.
Houston. Thursday. February is.

Office OF The Post.
Houston Thursday. February is.
The bear feeling was more in evidence in
the cotton markets today than TOT some time
past.
Practically everything in the situation con-
spired to give the professional bear an op-
portunity TO hammer the staple aud that no
material decline was made by any of the
months, to say nothing OF the fact that prices
on some OF the positions advanced was a
source of some surprise in all quarters
Liverpool was disappointing. there was only
a limited demand for SPOTS. and the receipts
continued to be quite large. Liverpool at the
close was 3 to 4-G4d down and as was quite
natural under tho circumstances. the Amerl-
can markets opened TO points lower than
yesterday Considerable weakness was shown
during tho day. especially ahoot noon. when
Prices on the Quoted near months went Or
s points below thc opening. but later IA the
Afternoon there WAS change for the better
and iust before he close a quick advance Of
some 10 points was made The final figures
thowcd New York to be down to up ana
New Orleans unchanged 70 down The
strength # certain OF ia, snot positions IN
New York was feature which excited con
siderable interest.
Spots ruled generally stoadv and unchanged
and there was very little brshcss 10 evil
oence anywhere As las already b-ru stated.
Tho demand was limited. and while interior
offerings were perhaps trino frocr than
usual. there WAS apnareuuv nothing in the
situation to warrant lover prices Reports
Ike those mentioned IN Yesterdays Post In
wh'ch 1t vas stated from the Interior that
wagon recriu'- continue 10 he quite uhtr7l.
are still comiae in hut as has ali along
been pointed out. the nigh urices quoted at
present seem TO have proved irresistible, lrt
there is little doubt IN tho minds ~ most
operators that within very short time.
practically everything IN the country will DO
cleaned IN AT after that the movement will
be unrrecedentediv small There IS no fear
that the continued free receipts VIII have
the effect Of bringing about ana maintaining
lower scale OF prices although some op-
orators ara o. the opinion that some small
declines ere not altogether unlikely with thu
situation it exists lust at present. with
Europe practically out Of the SPOT markets
Notwithstanding all this. there are few who
DO not believe that values viii eventually 20
hVns. than they are now The foreigners are
atm buying futures IN New York whenever
fhe sheht-st advantage is afforded them, aud
is not thought that lie demand for snots
is over nv any means. Cotton is necessary
80 the nn5raton Of the spludles and cotton
tie summers must have. The Ae,res show
very ulainlg that the supplies now on hand
On the other side arc wholly inadequate 10
the needs Of the c0rsumers
Houston received goa bales today against
l-a2 last wear and 2als three yenrs ago For
tomorrow the Houston estimate is 5000 10 dooo
aeainst 1861 and 1890 and for Now Orleans
200 to 5000 az compared with 1926 and SIS.
The range OF prices If the future markets
was as follows
Omen High. Low. clos,.
Nav '.a,9 $3.50 SIS SIS s.ss-sa
Hsss., 81. s attn Sc 81 5 s.% q e
carrin Richardson 1t Houston say Of
cotton;
a disappointing Liverpool poor demand Tor
spots increased offerings from tho Interior
md continued lihcril receipts cat sod thc pro.
iessional operator to work diligently on the
bear side OF tho cotton market this morn,
Ing. Liverpool took the offerings moderately
on the decline, and without realizing sales
20 further depress values ths afternoon the
locals tried to cover found nothing for sale
and quick advance OF ten points Was seen
The situation Is most peculiar one IN cot
ton. Europe has for weeks been liberal
buyer OF spots in the South. and n large buyer
OF futures in tho New York market They
stu continue to buy IN New York market ON
easy periods. but have deserted our south
ern spot markets although reports from cx-
porters here with spot cotton IN Liverpool
say sales OF low grades are being made there
above sd. We are CONSTANTS receiving au-
thentic reports from number " towns n,
South Central and Southwest Texas ~ IRE
wagon rnceints. and these Same cities were
reporting short time since all over This
condition Is not confined alone To Texas AS
receints az the interior towns show Mem.
rhs and Augusta received today gol2. ns
against 400 tbs sar0 day last Year Buyors
contend that tho price is the attraction and
the country Is being swept cleaner than over
before II this Is tho case. a few weeks at
most should see che movement fall to almost
nothing. but for the present We can hardlv
favor any material Improvement IN the mar
ket unless Europc again becomes largo buy
trs OF spot cotton in the South. The feature
Of The market today was tho strength in the
Especial TO The post)
New York, February l5,-s. Mum, Son &
Co, say of cotton
Cotton declined 10 points owing to dis,
appointing Liverpool cables. liberal receipts
and heavy realizing Tomorrow's mort anc
interior figures are expected to be heavS
Tor the week and tho large arrivals are he
ginning TO have more weight both here and II
Liverpool, especially as the speculative furoi
is subsiding. Later on there was rally
which put March points above the closinl
OF shorts on that month There Ia 4 ten
dency 10 increase premium on near months
owing 20 demand from large depot holder
and shorts, under the stimulus OF small stock
here. March ended points higher on III
day and May , higher, while August woun,
UP lower. The close was steady with IS