The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-15
Liquidation by Longs Brought About De.
cline Of Some Magnitude.
BOTH JUNE AND JULY HELD UP WELL
Latter Month Declined only Point.
Against 10 on Some of the Others.
spots Lower.
onice Of The Post.
Hourton. Monday. MAJ b


good weather reports began to come in from
all portions OF the producing territory, and
considerable amount OF 1t was thrown on the
market this morning with the usual and in
evitabe result.
For the matter OF that everything in sight
was rather favorable to a decline than other
wise Liverpool was bad, the movement was
quite liberal and good weather news continued
to come in from practically all portions of
the belt. The selling of some OF the more
heavily burdened members of the trade prob
ably induced others to get rid Of their hold
ings. and, in view Of all the pressure brought
to bear upon II the break was not as great as
might have been expected.
Tho feature Of the day was the amount OF
strength manifested by some Of the summer
months Notwithstanding the general decline.
May and August went on with the others, but
June and July. especially the latter. mani-
tested surprising amount of resistance TO
the prevailing influence.
Influenced by the early cables from Liver
pooi, whore decline Of 3@4Iz-Gi was scored
on futures, tho American markets opened
weak and considerably lower. The lqnda-
ton already referred to began almost nlme-
datey and was not long in showing It's Of
feet on prices, The final figures showed Nav
York to he s@lo down, the minimum loss be-
ing on July, and New Orleans lG612 down
In the latter market May showed a greater
loss of strength than my Of the other months.
There WAS a still further widening of the
difference between the extreme old and new
crop months. Tho iucrense was only about
point over Saturdays figures. but still 1t
served 10 show the general disposition of the
market. The difference between May aud De-
eember ia now 113 points
Price was out with number OF bullish
kilograms during the doy, in some OF which
ne very strongly advised the buying of Aug
ust. together with number OF other thinGs.
In the spot market the principal feature was
tho entire absence Of auy demand. Some
argued that this should not have materially
affected the situation. from tho fact that
there is no cotton for sale. hut as Is usual
in case Of decline in futures. spots fol
lowed the lead and went lower There was
practically no business done at any OF the
large, markets and in this country Houston.
New York and New Orleans each took a
tumble Of I Ice. Liverpool spot prices wers
revised by tho subtraction OF l-l6d from the
los grades and l-3gd from tho better qualities.
Receipts at the ports were 80 per cent
larger than last year aud nearly three times
greater than three years ago, being "a go.
against ei0a aud b2Oe The interior move
ment was also quite liberal and tho estimates
Tor tomorrow secm to Indicate that tho same
coalition OF affairs will. generally speaklns.
rregat then Houston received ~ bales tor
the day, as compared with 4OS last year and
l4o Ia 1897 while Tor tomorrow tho estimate
is 2o0l to $500. against $50 and 5lh Tho New
Orleans estimate is 1000 to 1900. as compared
with 177S and 1924
To Eum up. IL may he said that the situa-
ton now seems more uncertain than ever
The crop and weather news, to which the UNI
divided attention ~ the trade IL being dt-
rooted is undoubtedly bearish, and tho aues-
ton now is whether or not the strong sta
tistical position win he able to hold it's own
aEninst the new influence in the field The
bulls arc Of the opinion that It will, and
more too. while Of course the hears entertain
contrary opinions.
The range Of prices on tho active months
In the future markets follows.
Opening. High Low Close
bssas' 9 935H 9 2H ~ IL a ea!s
AZ New oreaus'
ss'8Ssy /. FAR Ss9 f fS ss s ss5-ss
The dry goods market is now being watched
closely, as having direct bearing upon cot
ton.
The New York Commercial says in it's res
View:
There are one or two factors OF strength
In the situation that buyers have given little
attention; one is that the fact that at slightly
lower prices a large demand would be I'M
oayereo for nearly all gray and finished goods
Many buyers are delaying orders simply be-
1ause they are not confident that present top
prices can be maintained Al 10 per cont or
20 below the present basis Of heavy brown
meetings and drills large exporters admit
mat they would buy heavily. At Sc for sI-
'quare extras printers would take enormous
quantities OF regular print cloths, There Is
81 even larger latent demand awaiting lower
prices upon narrow aud wide odds
Another factor that may become one OF the
strongest in the market Is the future price
position Of cotton The future course Of raw
material prices is admittedly uncertain but
manufacturers and selling agents maintain
that a ll,Oo00 900 or 1gO00 600 bale cr1p viii
simrlv mike good the lack of surplus cotton
that rs normally carried from one season "a
me next and that will be absent this season
lhey hold that present prices for futures viii
pc oesiy maintained and probably hettered
IN either event radical decline in goods
prices VIII he impossible since mills will
smut down rather than run nj loss
careful survey OF the market must sat
isiy buyers that nothing but a financial nanio
or sonlo equally unlikely occurrence cnn carry
prices Of cotton goods materially lower, Ths
bottom has not been reached here and there
but as soon as the present normal dullness ;s
parsed II VIII bc and there Is no reason IN
eoub' that another year OF prosperity will be
entered,
Adyces from New York say that private
letters received there from Liverpool are
bullIsh. The trade there is afraid. II is said
Of SONG short OF 1900 months. big erop or no
biz crop
Writing to the Robertson Footo company
Of this city, Atwood Violet Co. of New
York say. under date OF May II,
We anticipate very good spot demand here
this summer. continuously. our stock here
car not be iessened FOR obvious reasons. aud
Il can not be added TO- because the nrices
asked IN the South are prohibitive. The lour
interest 10 May here Is sufficiently large ~
sbsorb a very large portion Of the stock here
now. amounting to 1900 bales OF which onlv
Loo is IN licensed warehouses aud the hal.
nnce apparently hore In transit consauuent-
~. what s available for those short on con-
tracts for the current mouth Is this "a 00o
bales plus what may be brought here which.
rs we said before, Is ilfely 10 be OF insirs
nihcant cusntity. But then. again, tiis g. 800