The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-03-04
Office OF Tho Post,
Houston. Saturday. March ?


Bulls owned the market and they tossed
prices skyward Enormous buying orders
found market bare OF orders TO sell ana
prices went upwards by leaps and bounds
Liverpool startled the entire cotton world
by showing an advance Of i0-Gid to 1l-6id On
the summer positions when the market ot,e M d
this morning. This was oqIa to gain OF 80
70 30 American points and caused New York
and New Orleans to open 70 to 20 points up
on the near positions. A furtaer advance Il
to 2 points was soon recorded May In
New York selling at o,45 for the + shest The
lowest sale OF May durlng The day was at
p.S4 and the closing bid was q3S Tho tutn-
mer months IN New York we're IA TO Is polnts
higher than yesterday at he close, white the
new crop deliveries showed gain OF 10
points.
In New Orleans the gain for tho day ives
IL to q points on the near months while tho
distant positions were up to Is points May
sold at 9.S2 FOR tho highest and 9.26 lowest
closing with 9.21 bid.
The spot markets followed futures, ana
an advance Of 3-lSc was recorded at Now
York, New Orleans ana Galveston Houston
advanced Nc. making middiIng here WORTH
Csc, a fraction more than Q cents per Mound
above the price prevailing at this time last
Year
Compared with the lowest prices prevailing
In 1898, cotton has advanced over IcO nor
cent, or more than dbubiei in value. A tale
OF mlddiing cotton weighing 800 pounds "a
worth s7 on the Houston market today Three
years ago the same paia would have brought
only s23.
The whole world seems to be IN need OF
cotton, and the scarcity of the staple that ia
In evidence was hardly thought possible bv
the most ardent bulls few months ago. En-
glish and continental spinuors arc making
desperate effort 70 secure wat they ueed. unc
are Offering practically any old price for tho
staple The market has corneraa itself. ana
many conservative traders think the summer
deliveries VIII remain coclaaei until tho
season ends. They contend that sp!nnors
arc unable to get the cotton as last as hey
want It. and are, therefore buying futures
win tho Intention OF demanding the actual
cotton when delivery day rolls around.
The summer months are row l2s 10 1eo|
points higher than tho new crop deliveries
In both the American markets. In Discussing
this condition the New Orleans Times Uemo-
crat says;
Within n few weeks the new crop VIII be-
gin to occupy the thonsat Of the trade. In
conviction that the world will want mcnster
yield. That the average operator hnds present
prices excessively dear is shown by ,he DIS
count of 100 points at wilcn tie winter
months are selling. Il Is generally taken
for granted that an enormous area will be
planted; but one must not forget that the
conditions OF the problem are determined BY
many things besides the nere exercise OF tic
VIII, There has been a large ADVANCE In tho
cost OF mules and fertilizers wnhe lie IN
tense activity of other indug. los has brough,
about vast displacem mt OF labor Then
again, nature holds tho 'astjng vote; with
thoroughly untavornble season. a great tx
tension OF tho acreage would be a standing
invitation to disaster II 10 II course, en-
eirely possible that IA lshmo preHts NAV
accrue from sales OF tho distent deliveries,
at tho prevailing DISCOUNTS: out tho iIenLac.
Ton must rest on the dleer's basis There arc
men who can not Sleep 4 hey are not shof,
OF cotton; but the average man viii do well
to set high value ON Shc privilege OF let |
ting things alone so long as action involves
wild leap in tho lark
oargiil Richardson say of ;oiay's wild
market:
An advance Of 10 TO I1-5ishs on the summer |
positions in LIVERPOOL this moya.ng vas
startling news to American oparat,-s IN cut
ton, and the wdes, scramble OF the season
was seen ON tho opening OF cur markets to-
day First transact ~ weee made tbout 20
points higher than yesterday, with a few 10
lated shorts bidding lcrealy for tho offerings
some realizing was IA order, holding tho
market steady for while. ,l.cn new buying
TO- Southern acc lurt n The mi, RET
upward again, few no hts mNre hsing adiei.
During the last few t7inltaa rnnsrictlOl, long
eotton came out, prices aec.n ng quickly I
70 ~ points, closing IN New York 10 10 Is
points higher than yoi.Aedny New Oiieans
pool was said TO be- on buying fran thn
continent, whore It WIS fcarcu a large fail, 70
mad taken place, hut no confirmation nnd
neen received up to late hour The fact
ie that Liverpool spinn~rs 'al crtttn MS
SHOWN oy Liyerpoci srot sales today, when
m ]. and the slow III. surs ,cplasloa ~ thor
stocks and the visible sui,lv is su:helert
esSse fo ,so snxlsiy The belief is lec,mas
y, all through the ,ummer. oct for lnsnii,n-
lation, but by buyilg " ron ! aais w those
mo need TIE cos-tn I, srn, Sh.oli the
as bias been free n ii,tM nNi no sin,s ,,e
offered from America, those Of the cousamsrs
and for rs' ,s nave cotton can buy the futures,
lon or settle at a basis that VIII 30 tnfrs |
paoha'aple than spinning cotton. on the other
nanu consumption must necessarily te IN.
Jailed 6y the price, and many mills Will I n
0oubtediy DO closed for a long period.
New York arm writes: IA response 10
inquiries as TO whether new crop deliveries
are 5000 sale or purchase. we beg 10 say
that this Will be determined largely by tho
prospects or the next crop. II II rcta n Conn
ssar. 70 April and May, ana The acreage ia
mIseiS increased. lower prices WI likriv IA 4
ssen. IN the other nanf. n we. april ana
e msy might cause premium for new nc rs
Eyer ssf oiu. With cro3 OF H. 900 100 neat ycir
sne reserves az the e,d II the season wos Id
nos pc any larger shan az the crd Of me
xtes9nt season. unless trade poss 10 ,,rss !
sds 49, - me trade keep N mind the sharp
~ setsf part OF July ana the midtia or |
g s 6rou,5 b~e Gully cents pound. owing
EXPERIMENTATION, Y leaks as Z nritea iney shrw |
s<4s %es!knie nuetuati, . during the xrow,,.s
tne' = now sppfosshinE
t1 I. -..t4 " If
= 49, ron ceiumS's. q y. ssys: .'rherr
: Hsas nnnias sround among cotton men
= e s.nuans ~ The stock in plant
3 ~ sss ss.. w , sssf r., +,