The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-23
NO CHANGE in COTTON.
Opened Lower, Gained Strength and Closed
around Yesterdays Figures.
LIVERPOOL MARKETS WERE QUITE WEAK
spots Lost I-sd--American Spot Mar
kets Lower All Around--Move-
ment Liberal.
ofnce 81 The Post.
Houston. Tuesday. May %.

cottor showed only small amount OF
strength today. 1t at one time gained ma
terialiy over the opening which was prac-
tically the lowest OF the day. but only in the
case Of some Of the next crop months IN
New York was there any Improvement over
yesterdays figures at the close.
Tho market was soft all around and at no
time during the day were there any develop
ments of such nature to give the bulls
any fresh hope for improved prices In sym
pathy with the unusual amount OF weakness
exhibited by the American markets yes
terday and as a result OF lack Of sustaining
power. Liverpool declined still further, the
close being, on contracts, lSs to 4-64d lower
while spots were I'D down. Notwithstanding
the concessions made in the spot market the
amount of business done was quite small, the
sale today Of only COCO bales being reported.
The unsatisfactory Liverpool cables, coupled
with the general feeling Of easiness which re-
suited from yesterdays break. had the ex-
peoteG effect on the home markets early the
opening in New York being to lower. the
near months. as has been usual for some time
past. showing tho most noticeable amount Of
weakness During the carly part of the ses-
sion however, a reaction Of some magnitude
occurred as result Of fresh buying and at
one time August IN New York went 10 points
above the opening. which was points below
Yesterdays close. Rhs level could not be
maintained. howeyds, and before the session
closed all Of the SPOT positions showed the
result OF further hammerng, New York clos
ing 3 down to up and New Orleans up to
4 down.
Spots showed very plainly the eject Of
the recent disastrous declines IN futures and
IN nearly all OF the larger markets prices
were marked down This 10 a degree, was
compensated for by slightly Increased sales
In New Orleans, but the other principal spot
markets in the South did the usual amount
Of business which was nothing at all. Hous-
ton. New Orleans and New York each went
down l-l6c Galveston, strange to say re-
manned unchanged Notwithstanding tho fact
that It did not participate IN the general de-
cline OF yesterday.
As was pointed out Ia today's Post the dr.
ference between spots and futures IS abnor-
mally wide and the talent is agreed that these
differences must be ohlterated and the normal
condition OF affairs again brought about, Nom
hers OF the trade, however. differ as to tho
manner In which such q result is to be at
tanned. Soise OF thom think that spots must
be reduced while others are OF the opinion
that futures must inevitably go higher with
the situation as IL is just at present it would
appear that there Is something to be said on
both sides. There is no spot cotton for sale
and lust why spot prices should he kept so
far above futures, some of the bears argue,
Is not quite plain.
The movement continues to he rather moro
liberal than the bulls would Ike to see it,
but 81 Is likely that it has really very little
actual effect or the market since 1t is well
known that practically everything moving is
NJ the expense NJ counted stocks and that
the size OF the receipts arc by no means ind-
catise that the limit already set on the crop
is To he Increased.
Receipts at the ports we're 1850. against $3.50
and 1906. Houston received so bales for
the day as compared with rs and AS Tho
estimate for tomorrow for Houston is $50 to
250. against 500 and 10, and for New Orleans
1900 to 1900. as compared with $3.50 and 1913
The range OF prices on the active months