The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-11-13
REACTION in COTTON PRICES.

rare one The operation OF the law Of
supply and demand may be temporarily i'm
paired, but the world must soon call on
the spinner. despite the hmIdity Of his
banker, and probably In such terms that
he can not pause to qulbble With the
farmer over what his bank account is en-
titled to under a law Of economies more
ancient than the staple itself
Liverpool divided her trophies OF honor
Sales on the spot amounted to 1000 bales
at quotations 1-16d lower. Deliveries on
the last call declined LEA on an positions
New York opened a points down on De
cember snd to 8 less on further months
The scale at once started upward and
gradually climbed to points higher
decline started before noon and by that
hour half the advance was lost An In
mediate jump followed and the better fg-
ures continued for two hours. at the Cd
OF which the best Of the day was made.
In the last hour there was a slight re-
cesslon extending TO the close To the net
results November and February advanced
. points, March l. April . and the balance
OF tho list went 6 end points higher.
New Orleans started TO points be-
hind the figures Of the former night.
slow but steady Increase began and con
tlnued t.ll Just before midday, when n
small loss occurred This was recovered
on the half way call. however, and n few
minutes after an Improvement commenced
that rapidly made the top figures Of the
session. A loss NJ TO 4 points followed
aud formed the level afterward and until
the final call In the net result December
and February gained 4 points and the
other months went and points better.
Sales on the American side amount TO 1898
bales. Spot quotations advanced Lice Mt
New York and Galveston, but did not
change at New Orleans and Houston.
The movement extended Its voluminous
dimensions Receipts at all ports for the
day were 7O.slO bales, compared with
1880 for the corresponding day Of last
year. Since Friday they been 1902
bnles, compared with 1S3,30l for the same
time Of last week and 13l. OJ7 for the
corresponding time OF last year. Thus far
IN the season they have been 2j7J,266
bales, compared with 2,5iT523 for the
same time OF last season. Since Friday
exports have been 13SGO9 bales, compared
! with CSC sA for the same day of last
and GO,522 for the corresponding time OF
last year. Stock at United states ports
/ Tor the day. was i4AlOJ bales, compared
| with G9S 1914 Tor the same day OF last
week ana 67G.22O for the corresponding
day of last year.
The excerpt below is taken from a late
Issue OF the Journal Of Commerce.
Mr.. NELL made crop estimate OF
1,250.OOO bales minimum. His minimum
estimate on last years crop was $500. 600
bales, or nearly a million out of tho way
with his average record poor as crop
prOgnosticator. Yet his latest esrNvraie
was cabled prominent factor in the for
elgn weakness. albeit a number OF firms
in this country with ten times to n hun
dred times as many correspondents can
not figure out crop Of more than 1900
Ooo bales. The estimate of Mr.. Neill, how
ever, fitted the prejudces Of the foreign
| contingent and found the market helpless
| in NE absence Of public speculation The
I foreign weakness was partly attributed to
/ talk Of negotiations for another war loan
/ for Great Britain and also to alarm EEow-
] ing out of the FrancO-Turklsh situation.
! causing Manchester splnners to hold Oh.
The market here since October IA has ex-
! perienced u decline OF nearly 50 per bale
! 30 points,, and even the most pronounced