The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-16
COTTON LOST STRENGTH
Was Higher Early, but Break Occurred
Before the Close.
NEW CROP MONTHS SUFFERED THE MOST
spot Positions showed Less weak
ness--Weathcr Reports Duiiish.
Spots Inactive.
otaes OF The Post.



which many members of tho trade do not at
tempt to explain. but today these features
were even more numerous than usual.
The bulls builded their hopes high during
the early part OF the day Everything in
sight appeared to be favorable TO their side.
Liverpool sent satisfactory cables, heavy
and damaging rains were reported from al!
oyer Texas and many other portions of the
belt and in short. the situation during the
frst half OF the session led to the belief
that those who bought on yesterdays de-
cline would have a chance to get out today
with handsome profit to their credit.
Such however was not to be .ae case.
Prices held up we'll until about ] O'Clock
when some easiness was apparent and Just
before the close there was break which,
while It did not take values far below yes
terdny's figures. brought them materially
down as compared with the opening.
There was considerable speculation as to
the cause OF the sudden decline just at tho
time when everything seemed to be in favor
of the bulls. There were no authoritative
adylees on the subject but many local mem
bors Of the trade are OF the opinion that tho
slump was caused by the selling Of a promi-
nent New York house which yesterday
was busily engaged in sending out bull ltor-
ature. Late kilograms from New Orleans,
where the difference between the opening
and the close were even wider than In New
York. were TO the effect that a great many
selling orders were received during the
afternoon. but conservative students of the
situation express the belief that these I'M
assisted be any manipulation did not have
inf IN mol a -
effect under the existing circumstances.
Liverpool contracts at the close were to
2-s4d up In sympathy with the news from
this point and. probably. as a result OF tho
bad weather reports. futures on this side
we're quite strong at tho opening New York
ranging from 1 to M and New orleans 4 to
1 better than Yesterdays close. Business
was on the upward track for awhile aud at
one time during the forenoon come OF the
active months sold from TO points higher
than the opening Tho weakness already told
of came after that. however. and at the close
New York was shown 10 be from I'M to Z
down while Nsw Orleans was 10 down
The new crop months suffered the most.
In New York Nav closed 2 POINTS up. while
september was points off and in New or
LEAFS May lost only uoiuts against on
September
This strength OF the spot months against
the weakness OF the new crop positions is
nothing new but 1t is no easier OF explana,
ton than before, 1he talent says that II
can see. perhaps Why the spot months
should b. rocuced somewhat from the fact
TINT thev are now higher ,han usual II for
no other reason; but It docs not under
stand. in view Of the strong statistical posi-
ton and the uncertainty Attending the new
crop to say nothing Of the certainty that
1t vii be 4 backward one. Why September
and some Of the months Immediately follow
inr II should show sny more weakness tnan
the others. Mddling spot cotton In New
York is row quoted at sl3-1ec, while in fu-
lures May is down TO $500. and August
to s.G-o7
There was practically nothing doing in
spots except at New Orleans, where $3.50
bales we're sold At prices I-1Gc lower than
those OF yesterday. The decline of today
makes Sc New orleans spots have lost
duFnE the past IS hours. Galveston. which
"a no; participate in the general decline
yesterday, went down 1-l6c today. while tho
other principal markets moped along with.
out doing any business at the old prices.
Liverpool sold 10000 bales at yesterday S
figures.
The movement had something Of a bearisll
tug0 10 IT, hut It is not thought that it tool;
any noticeable part in helping to send prices
lower. The receipts at the ports were about
1000 smaller than last year but at the same
Tina were nearly twice as large as IN 1897
with the figures OF which year comparisons
are OF peculiar interest Houston received
hal for tho IA,
and ola three years ago. The estimate for
tomorrow is 500 to $50 as compared with l27
aud 50 and in New Orleans the expectations
are for 1000 to 1900 bales against 1859 and
3l7.
The range OF prices on the active month,
IN She future markets Follows:
-. Opening, tligh, Low Close
Ss:ssi s9 955s 2 43 e ss es sss
Al New Orleans;
8S sisSsr i'': -a ffss5 81 ~ 2 sss.s.
Here are some OF the weather and oror
buiieuns received by Cargill * Richardson
Austin.--Farmers in Town TODAY say VIII
nave TO use moving machines 10 cut Tho
weeds before can rcplant Fully nne-hatl
slready planted viii have to be replanted
~I@o'1f IAN 'isNNt n-VH n, M Yesterday and
no prospects OF let up. Advices from points
along Austin and Northwestern railroad Aay
heavy rain far rs Llano.
Four inches rain at Seguln last night
Dallas. --Raiaed all night. still falling
Fort Worth. -Ilained all night
Tempie---fiad hard rain nearly ali night
waeo.-Hard rain last night ana yesterday
Austin Raining hard here; heaviest rain
Of the season last evening; aard rain al
night
San Antonio.--It has now raincd about 2:
hours and no signs OF a let up
Wellbcrn.a-Stli raining. Work will b.
delayed another week. Crops IL the srasl
ard weeds badly Cotton taxing the rust
ziands leaving fhe bottom on account OF muc
weeds ana cockebdrs Some planters al.
Offering their land 70 anybody who viii talk,
l. ard work IL free OF charge.
The experts say that the weather boar,
indicates clear weather for tomorrow bu
that rain may fall again aboNt the goth
COTTON" says Atwood Violet sis not Ii
this colntry 10 he bought by anybody 70
ery market EXERT IN limited supplies Il
any one place
Munn-s Cotton Review.
Especial 70 The Post.l
New York May LIS. Mum. Son 4 Co
say in today's circular
Cotton advanced to points on nm un
expected advance IN Liverpool said TO b
due TO manipulation from THIS side. heav:
rains 10 Texas. buying a August by Broad
way hulis Furonaan buyine ~ next rrn