The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-08
in THE COTTON MARKET.
Prices for Spots and Futures Went
Generally Lower.
GOVERNMENT CROP REPORT BEARIsn
It Shows the Condition Improved Over
the Previous Week, Although
Rain is Needed.

The relative position Of the American and
Liverpool spot cotton markets was re-
versed today. the prices at home declln-
Ing while those at Liverpool were put up.
The continued heavy receipts OF cotton
MT the ports is responsible for this de-
Rhine at home. the receipts at all United
States ports being 1s.603 bales against
GGSS last year, or almost three times the
quantity brought into sight this day
year ago Receipts at New Orleans were
e023 bales compared with 3T95 last year,
and 1916 for the year before, ana at Hous-
TON the receipts were Ti00 bales against
S234 the day before and against 504 for
the same day year ago. or. more than
twice MS heavy as on the previous day and
little over fifteen times as great as on
The corresponding day year ago. The
movement into sight so far for the sea-
son from Texas and Indian Territory has
been 3.50S, 400 against 2,4SS.223 in 1900
and 3,394,59T for the same time In 1880,
while the total movement of cotton from
all parts of the United States hns been
aA14,909 bales since September /, COM
pared with S,61S,2s5 last year ana 1052s,-
213 for the year before. On the strength
of this heavy movement, together with
liberal offers of spots by tired holders.
the official quotations We're reduced nc
at Houston and Galveston, sc at New
York and Lice at New Orleans. Al Liver
pool the price was up 1-32d.
The home market for futures opened
steady at all the exchanges mt about ,Ae
previous quotations, but soon weakened
md forged steadily lower until losses OF
il to is points were recorded. Liverpool
futures opened quiet with prices I'M
I, q
afterwards. recovering the opening loss s
and moved within 2pont radius for the
remainder Of the day closing steady net
unchanged to point of.
At New Orleans contracts opened stcudy.
! to points lower July was / point of
at the opening, rallied almo-t Immediately
nftorward to 7.53. or = points above the
previous days close, and then lost ground
steadily until bottom prices for the day
were reached about $40 p. IN. when it
held steadler, closing to . points above
the lowest at net loss for the day Of
1G points.
Al New York the market for contracts
started about the same rs AT New Orleans.
showing Tsses of to 3 points at the open.
ing and then dropping off gradually IN.
III late In the afternoon. then 1t stcadied
and closed n point or two above the low
point of the day Tho market folt the
effect Of liquidation by tired longs of both
their contract aud spot cotton and WAS
also somewhat affected by the press re.
ports of damage by hail In Texas Ala.
hama and Georgia, hut the conviction soon
spread that whatever damage may have
been sustained from this cause was more
than offset by the rains which accompanied
the hail The government crop repor
showed generally improved crop conditions
over those OF last week although com
paints of shortage of rain in som
sections were mentioned. The effect of tn
report was Ia send prices down some
points, July selling AZ 7.45. When It sol,
mt that hgure, room traders sold tn
market and succeeded lit causing ii genera
break. The rains of the past twenty-rou
hours were not Included in the government
report, and therefore had tendency &
offset the complaints in that report o
lack of moisture,
Estimated receipts for today are IS,
to 300 bales at Houston against 3D. las
year aud $500 TO 5000 bales at New or
leans against 504 last year.
The range of prices Tor the activ,
mouths was as follows ut New York an,