The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-26
COTTON IS STILL WEAK.
July and August Futures Very Low
al New York.
AUGUST NINETY POINTS BELOW SPOTS
Further Reports Of Rains in Texas and
Elsewhere Caused Big Decline
at Liverpool.

The cotton markets suffered further de.
cline yesterday. Liverpool opened very
weak and closed TO 7lk64d lower than
Wednesdays prices There were many re-
ports OF rains in Texas and elsewhere, and
a general desire to sell was manifested
New Orleans was weak and lower through
out the day, and closed IL points down for
the new crop deliveries, and points lower
for August. New York futures were IA to
IL points down for the day, the August OPP
tion showing the greatest weakness. This
delivery is now 43 points lower in New
York than In New Orleans Under normal
conditions the latter market should be
about Is points below the former conse-
quently It may be said that New York Is
Us points too low on Its August cotton, or
New Orleans is just that much too high
A peculiar condition of the market is that
spot prices in New York are 30 points low
or than the quotation on August futures
and August is now less than week away
Fairchild & Hobson wired Cargill
Richardson:
New Orleans, July 25.--Liyerpool opened
at a loss of to A points with spots re-
duced lie on sales of 5000 bales. Selling
from this side caused further weakness in
lANefpOOl anu JllaNNH ClDEeu on 10 IN low
err than last night for contracts Of new snd
old crops respectively. New Orleans opened
S points down with December %; sold
down to 7.19; up on profit taking, when
December sold I.24. At this level market
looked as though II might do better, but
further reports of rains at Temple, Hills
boro and Pine Blum created Il desire to
sell, especially since weather In North
Texas was reported Ms cloudy. This feat
ure and an easier tone OF the local spot
market worked against sustaining the mar,
TO u lower. The local spot market was.
quoted easy and down l-16 on sales of 1900;
10 arrive $50; middllng 81.
Bombay receipts for week were COCO
against 1000 last year and 10000 the year
before, and shipments for the same period
1000 against 1000 last year aud 200 in
1899
1t is generally conceded that rains in the
neghborhood of Denison, sherman or Dal-
las, or of heavy kind In the district Of
Little Rock, would cause a further break in
values, but we will compare with bearsh
visible statement of last year tomorrow,
American last year only losing $3.50 and
all kinds only SO, 1o5 against 1921 the
year previous, and a steadier market may
be In ordar even though the Chronicle be
expected to show an Improvement as re-
suit Of the recent rains IN the cotton States
Receipts NJ all ports since Friday 81 ,49S
against 2l,335 last year and Bl26 year he
fore, exports 62,h39 against 22,3Al last
S75s55 against 1888 last year and 411-
447 year before.
New Orleans, July 25.--Go0d rains in scat
tered localities of Texas. Oklahoma and
Arkansas and over Louisiana. caused weak
ness in cotton this morning. Buying TO
accept profits now Is resulting In a steady
market with sellers scarce Cotton looks
like a buy on breaks for the present al
least.
Augusta, Ga.-"slnce our report of tn,
sth instant plant has continued 20 improve
Eighty per cent OF the fields have forme'
squares, and about 40 per cent are bloom
Ing. As fields are practically clean rail
would be beneficial, though 1t is not badl
needed Crop still three weeks late, an
picking will not begin until the end O
August or the first OF September Pros
poets are that some hclds that were con
sidered as abandoned will be worked out
weather permitting
The range OF prices at New York an
New Orleans for the active months wa
as follows:
New York Open. High. Low. Closed
August ... 29-3O T. ~ 72l Z 23-9
october $40. 1851 7.3s 7.32 : 32-3
New Orleans
August 400. 7.6sb no 765 1886
october ...... Tn 7.25 1.1S 7.lS1