The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-18
COTTON PRICES LOWER.
Mr.. NeIIfs Estimate Failed to Help The
Market.
CANS WE'RE LOST THROUGH REALIZING
Spots Advanced lie mt Liverpool
declined t-18 mt Houston and CAL
weston, Unchanged Elsewhere.

Mr. NeIlrs estimats OF s,75o,000 bale crop
cd not prove TO be such a strong bullish
influence as had been anticipated; in fact
the announcement that he would make such
an estimate created quite a bullEsh sent
nent, but when the circular Itself appeared,
the gains which its anticipation had caused
were practically lost through attempts to
realize on the part OF those who had bought
in anticipation Of the decreased estimate.
The English spinning interests, following
precedent to which they have heretofore rig
idly adhered. ridlculed Nells estimate,
claiming that tho figures of the more or less
eminent statstscian we're far removed from
a correct view. However, they were con-
sistent In their actions and refused TO take
a greater Interest in spot cotton because o.
Mr.. Neills figures
Those who bought cotton on the report
that bullish circular was to be issued by
Nelli set about realizing profits yesterday
but the market lacked support and the offer
,ngs depressed the price, New York losing
Is to 10 and New Orleans . to II points
Liverpool having closed 3-6iths to 3ia-6iths
lower
Spots advanced 1-isd at Liverpool, de-
chaed 1-1Gc at Houston and Galveston and
Estimated receipts for today arc: New
Orleans 1000 to 10000 bales. against i0.477 last
year; Houston 5000 to 1000 bales. against 5579
last year.
While the reported unsatisfactory condition
OF tho spinning industry in Europe and
America is being used TO fortify the positon
OF the bears, the bulls arc pointing to the
fact that the end OF the famine IN India
VIII make more liberal buyer of that coun-
try; the satisfactory progress OF peace ne
got,ations in China will result in business
there that will eclipse anything Of the past,
and that Africa, Cuba, Porto Rico and South
American countries may Justly be expected
TO increase their purchases OF American cot
ton goods,
Said a New York house; "As we said when
cotton was considerably lower. the future
course OF the marke, will depend on business
conditions. II business Is TO be simply or
dihary. while there viii be practically a need
for all cotton raised this year stll the price
can not be expected to advance further, but
II business is to he good or very good an
we believe the latter viii prove to be the
case. then not alone will stocks he all alb
sorbed. but there will be an urgent lesit-
mate demand. and later speculative mar.
Set that will possibly cnuse the quotation tc
advance to old-tme records"
While Texas cotton continues to come OF
the market in a rather surprisingly 6troni
volume, other cotton growing States are no
doing so much in this respect as the follow
ing statement for Grenada, Winona. LeX,ng
ton. Canton and jackson. Miss. Will indi
cafe.
Iotai receipts to January I, 1900 1e2 80
lotal receipts to January !, 1901 ....,... 71Sl
Total stock January /, 1900 .,.,......... -9,55
Iotal stock January |, 1901 ..........., 2jIG
Amount received from January / to
september l. 1900 ACKNOWLEDGEMENTS. 30 II
ESTIMATED amount to DO received from
January 1 to September /, 1901 ...... - 0r
Following Is the range of prices IN tn
active months In New York and New o.
leans:
New York opened. High. Low. Clos
January ,....... 9.Gia q.62 9.5I 9,h9-
March ....,,,.." 9.35 g.&5 9.2S 9,aO
Saauary -, s.4Oa as N3e o.a2.
March .....,.. - go 9.28 92i-