The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-14
Futures i down to 80 mp.
Houston spots 1-Sc higher.
Liverpool 1 TO 4-84d lower.

Houston. Tuesday. February ia.


ion markets today.
During the first few hours everything point
ed to a reaction after yesterdays fyer, but
such was nat to be the case.
Asa result OF foundations in Liverpool, New
Orleans. which was the only future market
opsn yesterday, opened at decline, with
New York, quite naturally, several points
above Saturday, since which date nothing
had been done in the metropolis. Until about
the middle OF the afternoon both markets
ruled dull and easy as a result OF realizing
by longs and some lack Of new buying. prices
at one time going s to points bslow the
opening.
Shortly before the close something hap
pened There was a sudden change for the
better. the chalk marks began to 30 higher
with astonishing rnpidity, and almost before
the bears knew st an advance Of 20 to %
uointE had been made. The Improvement con-
tiuued tutll the close, which was at an adj
vance OF 10 points on the near mouths TO a
decline OF / on the distant positions IN New
Orie1rs and a gain over Saturday IN Now
York OF 16 TO IS points. The latter market, IL
must bo remembered, was not in operation
Yesterday, and was due TO advance consld-
erablg more than New orleans IN view Of the
material gains made by tho southern market
on that date,
The ea-iness which existed during the early
pat Of the day vas regarded as perfectly
natural by conservative operators. IN view Of
tho developments OF yesterday, ard II was
thought that n would hayo a benehcial effect
through the shaking out Of some weak loueF
But the sharp upward turn which came later
In tho day knocked all these nice calculations
INTO tho proverhlsl cooked hat and in the
ianguage Of tho etreet DID not do a thing ~
the shorts who began 20 sell when the chalk
marks began 10 20 above Sc = few days ago
The only explanation Of the sudden Night lies
IN the conditions existing in Liverpool, where
according to reports, consumers were never
so anxious to secure cotton. As has been
noiuted out in the columns Of The Pest for
some time past, the spot demand has been
Ecrerally in excess OF the supply. and, fall
ms in their efforts 10 get the actual staple,
thu Briuahers are purchasing futures to guard
AGAINST tho scarcity which they now appear 10
think "a inevitable.
Even tho best OF the prophets acknowledge
that they are at n loss for material on which
To base predictions concerning the future
course OF the staple. There are few II any
who believe anything else but that present
prices are high enough and TINT further adj
vanees, which do not seem at all improbahle
can have no other eject than TO place th'
future markets IN very dangerous position
some operators are taking OF 10 ana even j
cont cotton. and while this seems absurd or
tbo faca ~ IL tboro nra roory who re,llv no
~
HeVe that such prices viii DC brought apou
n speculation becomes general all over tn
country and az an. l,,Ii .v,resses ~ sspti
"" F' ~
Heht gets hola or the MARKET IN any event
Il moro than apparent that caution and con
s-,,+isr, or. roU, needed mara than n, an
-, ~ -
ume TINS season. me uehlor III aVtual COW"
will more than likely keep out OF the futur
oorps,r a,,oFetber and ,envc that feature n
'No.9 -
pc situation 10 the gentlemen VINO nav
yisious.
Y,,arroo, ,nn,, wan, IN , .1sd INT IN tu,,,rc
s'p'o' rvs "e"' w l.-''' wy ~ -.
decline was ShoWn' inc near months olos'n
.-6ld down. and the fail positions i-6id lowe