The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-05-09
II. & B, Beers Letter.

New Orleans May S.-Livcrpool adyices
were disappointing, consequently our mar
ket opened to lower on old crop months
ard to ) on new. Fresh buying orders,
however, came in shortly after, causing an
Improvement OF TO I from the bottom.
About this time the weakness of spots, the
heavy port receipts and the liberal esti-
mates tor New orleans aud Houston re-
Caipts tomorrow brought about selling,
witch superinduced a break OF II TO -
from the top OH old crop options and ,
to . ON new. After the elimination OF
stop orders values steadied slightly, max
ing the let loss III to 20 points on summer
y, aitions and to 8 on new, From present
indications the amount to be brought into
SIGHT during the week points To about
uu,'NG as compared TO I4,Un last year aud
4sCUU year before last. The visible sup
. Ill, from the character OF reports re
ccivcd from Lancashire and the contin mt
is anticipated that spinncrs, flom nov
out will curtail consumption nf american
considerably, owing TO the nigh price of
the raw article which precudes their
tnttlms into new engagements. II IS
claimed there is no parity between tle
prices, goods arc being disposed OF now,
even Wlth raw cotton Uougnt fully cent
under existing rates. Favorable reports
alc being received relative n the next
COP but tley generally arc at thlS time
of inc year. Nevertheless. there are hany
NiCsSitudes which the crop must undergo
7 v,
any serious setback. tho new crop months
Will advance sharply, while we advise
against operating on either side IN the old
crop months, we think the heavy di,coa ITS
on the new are an inducemcnt 10 make
purchases on weak periods, as there Is onl5
a minimum amount OF risk attached TO
tAosc transactions. II. x Is. Beer.
CareiIl g. Richardson's Letter.
Houston, Texas, May s.--Thc Liverpool
J or fnt-
mcnt this morning, near deliveries closing
( 5Gid lower than yesterday. This. with
| heavy port receipts and free estimates at
| Houston and New Orleans for tomorrow, 10,
| gether with large offerings of spots and
! May deliveries In New Orleans caused cot
! ton to break quite badly. 1t is said that
| the bun crowd in New orleans have ceased
| to give the market support and are o.
I fcring spot cotton 10 Europe cons.derab Y
! below exporters prices. so as to get the
! staple ont OF this country. A large New
/ York house who has been bulisn all s'a-
/ son wires: I'VE still adhere to the op MON
1 can he expected unless Southern spot mar
/ kcts weaken materially. We believe the
market VIII go very much higher, as there
/ Is SO little cotton visible at interior points
! that holders are absolutely independents uf
what bear manpulators may do, Thor,
we're good rains In the East Gulf AMI
South Atlantic States, and crop conditions
are reported most perfect in all sections OF
! the lelt. Into sight for the week looks
! He 10000 bnes. The cotton market Is
/ acain AZ abont tho lowest prices for sew
( cral weeks. and the bears seem more con
| hdent. They are scraping the country iol
remnants Of the crop for delivery In New
orleans on contracts, talking 100000
crop, and doing all in their power to dis
lodge the large hul interest. While tbey
| have been somewhat successful and ma
he able to carry prices to some lower level
wo are inclined 70 believe that purchases
ccnscrvatively made, well margined. and
only on depresslons. will bring good
profits
row. Cnrgill d richardson.
R. 8. Morris g. Co.'s Letter.
, Houston. Texas, May s.--Liverpool cabiei
we're down this morning on account Of IN
weakness demonstrated In our markets res
terdny and the opening was to down Of
futures and ll6 down on spots Before tn
close there was a further decline dul hi
the session; In fact, the session Throughout
{ was nervous in the extreme. The anal I z
ures showing net decline Of 3 10 } points
In sympathy with liverpool our marsct
opened ) 10 10 pniats down. there was
further decline OF > to points. but on h
l'ght estimated receipts Tor Houston o
Z, ilO8 to 200. against 1919 bales Inst year
there was reaction OF s Ia points Mes
, Orleans however. came In 400 10 40
against 1910 bales last year. aud -.aIl tn
9 advance was lost. The market draggt,
E after the decline on the New orleans q,
J. timated receipts came ~, and there wa
very little huetuation either way until IN
last hour when prices gradually workc
! lower. and the close was az the loves
!. OF the day. although the tone IN sew Nor
) wss steady at the decline. while New O
b leans was steady.
4 The present condition of the market wi
: not Justify any decided opinion. bun, W
I still believe that the long side Is the hes
! for long pull r. u. Morris g. Co.
4 New, York. May S.-Hrgs Receipts 1U.4l
\ | pApkages; market quiet; State and Penn
4 syivahia II; Western at mark lTGl7h