The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-26
A SLUMP in PRICE OF COTTON

shared By ali, the slump gave some credi.
bility TO the belief and the market suffered
in consequence The ngures az tne opelnns
were considerably below the previous days
closing aud were hammered down subse-
quently, but were followed by a bull move
ment which rallied prices several points,
but the EFFORT had no sustaining influence
and the slump continued
Liverpool opened firm with quotations .
to 3 points higher but an easier tone
prevailed later. and at the close the al
vance amounted 10 only ! or 2 points above
the previous DAYS close. Sales on the spot
amounted to 1900 bsles at quotations
points better than Mondays figures
New York opened with drop all roma
ranging from 5 points for February TO
l. points for April The downward move
ment continued for some time. but re-
dictionary movement carried several OF the
near months close up to the previous days
figures before noon, but this was followed
By weakness which ended IN stin further
losses. the figures at the close showing
loss for January and November Of Il
points, while others ranged from to 10
points lower
The New Orleans market exhibited mucn
the same tone as New York, total relapse
Of 10 points being registered in March dur
Ing the day, followed by several points re-
CNNefNt OpeuluE Prices showed ueclluc
Of to 10 points and the movement con
tinued downward until the prediction for
colder weather In the Southwest an
nounced when buyers cent prices up,
March going 10 $50. Later the bears made
continued attacks with the result that
prices at the close showed net losses OF D
10 IL points Sales al the four American
markets amounted to S7l2 bales. Spot quo
tatious dropped 10 points Mt New York ana
remained unchanged at other points
prominent New York factor gives the
following statistics:
ION November . I mailed Inquiries TO
latlnr 10 the cotton situation to all the
prominent ecttpn growing counties cast OF
the Mississippi, and am receiving replies
daily careful compilation Of these re.
ports. coming from cotton growers ana mcr-
| chants. show the following results; thirty
pcr cent report late frost added to 10 pcr
cent 10 crop; "a per cent report late frost
added nothing n crop; Is per cent report
prospects good for maturing THE top crop;
- per cent report no prospects for mHtur
Ing this top crop; 81 per cent report no
| frost to stop growth and damage cotton:
go per cent report sufficient frost 10 stop
growth and damage cotton; 26 per cent
report crop better than last year by 5 to 10
! per cent; - per cent report same as last
/ year; 46 per cent report short OF last year
| by 10 10 30 per cent.
The states from which ! have these re
] piltS WHuts lhhi year. d,Iio,On bales, ana
! from the letters received. ! feel safe fin es-
| tiuating thar the same States viii make
| h,25o,oOo hnles this year, or falling on OF
$4,000 bales"
| Mcintyre & Marshall of New York say
1T would seem as If, for time, the recti-
| hcatou OF values IN the future market had
! fairly taken place, and that some further
advance in spots viii be necessary before
/ basis OF sustained values In the option
| list can take place. our information. how
| ever, is that mills are large buyers Of sup
| plies at this time. ana that in point OF
| fact they are I'm most cases short of theu
/ usual holdings at this season. Thirty
points advance was paid yesterday In Bar
! tlmorc over a spot limit Of the day pre-
| yious Of $50 bales OF cotton. ana the South
ern spot markets are lining up again &c
/ the scent level. This is favorable sign
and we are not. therefore, inclined TO looi
| for more than an ordinary speculative re
action before support VIII again come II
tangible shape and sufficient volume &c
! cause higher level OF values. A compari
son OF next weeks movement TO tho GORE
spending week last year vs. not unlikely
to prove an influence of some importnnc,
at this time"