The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-12-13
COTTON DECLINED SLIGHTLY

.,on. a, M, n 1. the opinion Of an expert
authority that the movement 70 GATE com
n.reA with tho movement Of the crops Of |
1907 and 1893 when the crops were respec- |
lively II. 300 900 and IL, $50, 900 respectively,
40 great g discrepancy Is shown that the
PROBABILITY Of an 100000 crop this sea
son 10 with many operators almost ennreiy
eliminated. A heavy movement hereafter
would only bring about moderate estimates
under the conditions that now prevail 10
the cotton belt instead Of the high guesses
that have been the role.
Liverpool opened firm, with values to
npints higher than the previous days close.
There was little change during the day ana
tho tone continued arm until near the
close whom An easier feeling prevailed. The
close was quiet and steady, with quotations
points above the close OF the day before.
The spot market war firm and quotations
nj the close advanced Z points above the
previous day's ngures.
New York opened steady, pric@a being
unchanged to S points higher. The advance
continued during the forenoon, January
! reaching s.B7 and March s.32 The market
| continued almost unchanged after a slight
decline before noon until near the close,
who little improvement brought quota
! lions nearly up to the opening hgures. AZ
| the close prices we're unchanged 70
points lower than the previous oaS
Now orleans opened steady With quota.
lions / to . points higher than the close
on the previous day. There was shsht
advance In the early forenoon on inc
strength az Liverpool and the slight move
ment The feeling later became weaker
and January went 70 sl8, while Mareh
touched s2S A rally afterwards brought
January nm TO \ 10 and March to S.2I, but
they lost geyeral points before ths close,
at which quotations showed net losses OF
to points from the previous dnJ Q Close
There waa a large deficit In the current
! movement Receipts AT ali ports for the
day we're 6,4al baes, compared with 80,
: | O20 for the corresponding day OF last sea
son. For the week they have been 20S,O6'
Z bales. compared with 323.S91 for the SAM
+. tim. last week and 3ol. $40 for the CORE
I spending time OF last season. ThuA far II
a the season they have been 9,lSD2o4 bhies
compared with 1891 .0sI for the correspond
ing time Of last seuson. Exports Tor IN
Y week have been 27l, D53 bales compare
with 2OB,6l7 for last week and lS' $50 10
> the corresponding week Of last season
stock at United States ports for the IA
70 vaa O23 40 bales, compared with l,O64
4. S28 for the same day Of last Week an
sS4. 4a7 for the corresponding day OF las
season.
"a Tho following opinion on the crop b
a Hood, t,ernie & Co, Of Liverpool Is pert
10 nent;
10 The feeling in this market Is at preser
n. considerably mixed, and Is about equal
10 divided between bulls and bears, Genera
,r ~ speaking, crop estimates have bee
!. slightly reduced during the past ten da!
on nccount Of reported unfavorable como
fiona In Texas We, however, believe TN
ru the average crop estimate Of the best pos
rh I'd people nero liz about ll,2Jo,OOO bales.
ia | looks as II prices had touched the botto
Tor some little time to come on NuYemb
u 40 when wirter positions sold here at a..
X Although We have felt beHrishly inclined
% fully two months pnst, based on the exec
, tonully favorable weather conditions, a
In MISC on the unsettled financial outlook
Nv America, IL now seems to us that the wol
on. will be willing to take care OF crop
IL $50. 900 with prices In the nclghborho
10 Of 40 TO 4SO.
rty 1--WE gtll feel doubtful about the rms
ia | cIal outlook In America and as we hA
~ recently seen n severe decline In the val
n"' OF silver and should the present hlm'
eek unprecedentedly low value OF this me
en-, continue for some months, TINS musl
80 doubtcdly adversely Rncct the cotton IRA
with Eastern and other countries which I
tea oua silver basis.
rim. go sum up We look for the crop, ir
II | spcCtlyc Of It's size, to be marketed yatl
, ! slowly, which under ordinary cohdll'
ton might lend to higher values, but we do
bile look upon the general SURROUNDINGS us
i'm ing favorable 20 induce either consum
| or spccuat0rs TO take II bull view OF
IN article Unless the movement during
uch next two months should be on ml
,di. smaller scale than is generally anticipate