The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-02-19

pressing eiIect on the spot months, causing
q relative difference between New York aud
Liverpool that ~ unusual. This difference
Is now about $50 points However. 1t Is
said that the off value cotton taken In
the big January deal will be rendered on
February contracts. and this is expected
to relieve the New York market Of this
depressing feature.
There is now a slightly better feeling
In the ranks Of the bulls than there has
been for several days, but no great I'm
proyement is expected Immediately.
Following Is the range Of prices for the
active months Mt New York and New Or
New York Open. High Low. Close
March .-...' re re 9@ s az 81
March 10. $50 oo1 SIS $3.50
Estimates for today are: New Orleans
1900 to SEQ bales. aEniust 1l,51i last year;
Houston. 800 to 800, against Ss91 last
year
The Now Orleans exchange will be closed
today on account n MurdI Gras All
American exchanges viii close Friday on
account Of washiugtons birthday.
W. Collier Estes Of Memphis says: "a
new element has been added In the past
year tn the price making Of cotton--thc
financial ability Of the South to carry the
stock Of cotton and drlbbIr 1t out sclen.
tidcally 10 the spuucrs as the price suits
them TO sell Another new element la
price making has been the absorption Of
the large stocks OF low cotton held at spec.
ulatiye centers, which we're largely used
In rendering on contracts and used as
lever 10 dcpregs prices. ON account Of
III" short crop the high grade Of last year
and the failure of the East Indian crop.
The low cottons banked ny from previous
crops have gone readily into cousumutiun
Air. Estes discusses other questions re.
lating to tue cotton trade without mincing
words certainly. He remarks. at is to
lover OF the South 10 use his Influence SO
that only cotton that Is very mcrchantable
can bc rendered on contracts. Much on
position viii be encountered The clenv.
age Of adhercnr and opponent lies along
the line Of sclf-inWtost and Is very dis
tinct. ON one SIDE are the snccrssful
gamblers Of New Orleans, Liverpool and
New York WI" have made their money
working for lower prices. backed mp by
many buyers whose business Is much better
when prices are low aud the crop is big,
MS spinncrs hny 20 stock mp ~ low prices
and buy only sporingly when prices are
hlgh. ot course, many buyers are Of cali.
Der enough TO pat the hcucrit OF their src
ton above some damage to self interest
The preHondcraucc Of Interest is So great
IN Liverpool and especially In New York
that ~ spite Of the equity nt the cotton
growers demand, little heed viii be given
10 ii.
A prominent operator says "Statisticany.
the position Is very strong, but the general
sentiment Is bearish. and white such Is the
situation, the market viii probably con.
time to decline for n while. But IL prices
80 mnh lower, n speculative public liz
likely TO take hand. Ehen you can look
for an advance July contracts are only 81
points above what thev were selling at
this time last season. Tue movement then
WAS larger than II Is now. aud consider.
Bhle cotton was held back In the country
ms the Jnly-August movement showed very
plainly This time last year spot cotton
was quoted Mt Sisc hut II soon advanced
10 TX lbc- and never went below the last
NAMED price the rest Of that season. Con.
tracts did though Holders 81 spots viii
eventually control the situation, inst as
they did last year. Circular writer's talk
about lack Of export demand bnt Mi
the same exporters are doing n good busl
ness. saw today cables bidding for col.
ton from Bremen. B!-rrlona aud Vienna
showing that the demand for American
cotton Is not confined 10 any pnrtictlnr
country Of Europe fh,S-present low level
OF oil prices Is attracting offers for cotton from
cargill Richardson say Of the cotton
market In their circular of yesterday:
Despite good Liverpool cotton market
this morning liquidation continued here
with lower prices recorded. The apot
months In New York suffered the most.
losing IL points, the result Of selling br
tired lonss. These months are receiving
poor support, due to some extent To tho
large stock of undesirable cotton now heio
there. ihere was no particularly bcarish
feature 70 depress values, the movement
being moderate aud more talk OF "A bullish
letter from Nell, Vail Street huIls VINO
have been 80 successful on the long side OF
stocks are supposed to have had good lines
OF COTTON as brokers with stock connections
were the largest sellers today. Iiverpool
closed unchanged TO H-Vith lower than
saturday. making their market about i50
points over New York for The spot months.
New York closed to IL down, New Orleans
2 10 II down, Spots Lice lower In New
York, New Orleans, Galveston aud Hous.
ton. il Is generally supposed that the
Gotten taken Oh the January corner viii
he rendered ON notice day. February -
II II Is and IL scattered among several
hrns there IL will no longer he a menace
TO values. Large lines Of cotton for March
delivery have been held and are now be
Ing disposed Of, With this Interest we'll
iiqnldated we should see some Improve
pjent In the market While we do mol
feel bullish on the general situation W,
believe that purchases on the weak period,
between now and Thursday will be re
munerauye
New Orleans cotton exchange win be
closed tomorrow Mardi Gras
All American exchanges viii he closed
Friday. February - washlngton's birth
liverpool should be 2,e4,hs lower tomor
row.
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