The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-01-17
SPOTS:
Liverpool, t-32d higher.
New York, t-t6c higher.
Elsewhere, unchanged.


The events of yesterdays cotton market
were Of the kind that might have been
entirely expected When the bullish creed
gained favor in the general mind, by way
of stout relteration of the bureaus crop
views, 1t was natural, after wearing the
first strength of Its growth, for that opln-
Ion to harbor itself to await the move
ment's confirmation. Thus cause and eff
feet were left to work out their own re-
suits without Interference from the usual
moulders OF sentiment. Bulls had no rea-
son to bewall the consequences for, while
the summing up showed small PROFITS to
their adversares the general contour was
in no way transposed. Aggressiveness was
not in their lexicon and the irmness coin
cdent with the dizziness can be attributed
TO demand for the raw material. In truth,
It would seem that this feature IS supplaut
ing the movement in Importance. since de-
velopments indicate that the supply at
it's best viii be well taxed to MI require
ments Of the former. in this connection
Mr. Ellison was said to have lessened his
estimated for American consumption by
25o,000 and while the fact was at one
time slightly perceptlble in the tenor OF
the trade 1t only brought In bold relief
the necessity OF concessions to make ENDS
meet" Values accordingly remained iu
quite fluld state with little to CONCEAL or
evaporste the component parts. Liverpool
aimed high, but finally struck the generally
expected level Sales on the SPOT amounted
10 5000 lAnles at quotations higher by l-32d.
Contracts on the last call stood better by n
single sixHy-fourth From the nature of
advlces Manchester was evidently looking
askance at the vacation months, but pre-
ferred slow action in the approach
On this side of the ocean the skies were
of the same color, with few Developments
Hereunder. The spot was pursued with
alacrity and the tone was everywhere
called "hrm." Nothing was subtrncted
from former beliefs and longs added a
shade to their brightly tinted painting by
the prospects OF an enlarged trade on both
shores Of the Atlantic. Exporters an
inundated the policy Of liberal takngs and
business kept within moderate bounds
New York opened TO mp on near and Z
10 better on far positions. The level was
tho best OF the day and extended a few
minutes. after which there was a 3.poin
drop. gradual recovery TO the iniua
hgureS then took place, followed by slow
decline until the lowest prices wer,
touched. steady Improvement then be
gan and extended through the balance o
the morning with n gain Of points regis
tered at the midday call. There was
light slump from this position In the mex
hour, but the same was early regalned an,
formed level, from which there wa
scarcely any ductnation during the rest o
the session. In the net result August an,
September stood unchanged. October lie
clincd > points and the nearer options ad
vanced l and points
New Orleans started 10 np on current
and lower on FAR deliveries. There was
slow recession from this level IN the cariy
part of the morning until G-poiut los
made bottom figures. A stcadi!y upward
nose then appeared, with tho highest
reached in the second hour A 5-pont dror
formed the level until just beyond the
noon call when sudden decline again
caused the low mark TO he touched Al
Improvement OF i to Q points constituted
the range. following from which there wa:
barely any departure until the final hour
Ihe scale then moved gradually up almost