The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-10-07
rs CONTROLLED COTTON.

I the trade 70 study The tendency wal
! downward from the start but Il was II
the latter half o. the secession that the pres
! sure OF ilquidaticn became so great as K
| give the scene a panicky tinge. The busi
! ness WAS only nnoderate and fluctuations
wide enough to show deeisiveness.
Liverpool was about In accord with the
general expectation. Sales on the spo,
amounted to 10000 bales at unchanged quo.
tations. Contracts made anal loss Of !
to points on all positions. 1t is not
strange that at this time the English mar
ket should prefer 10 be follower than a
leader.
New York opened to 4 points below the
previous close. A trining bulge at the start
brought the best Of the day and n gradual
decline prevailed during the hrst hour. after
which there was a slight Improvement. A
loss Of this made the range that extended
through the Balance OF the morning and
fluctuations we're confined 10 points for
the next hour. A small easiness followed,
and In the last half Of the afternoon slow
decline set In and continued until bottom
prices were reached on the last call In
the net result November and December
lost 90 points, January 10 and the other
months declining 10 to 10 points.
New Orleans started 1 down on October
and 4 down on later positions. There was
n Small advance at once, followed by n
rapid decline OF points, which formed the
level for trading until midday. There was
4 weakness at this time, but little change
took place for the next hour, after which
there was steady recession TO bottom
prices. which ruled TO the last In the
net result October lowered II points and
the balance of the list went 13 and IA
points less. Sales nt the four American
markets amounted to 1905 bales Spot quo
tations were down 1l6c at Houston and
Galveston and stood unaltered at other mar.
sets.
The figures Of the movement were not
significant. Receipts at all ports for the
day were 1851 bales, compared with 49,
oJ2 for the corresponding day OF last yesr
Since Friday they have been ss.7T2 bales
compared with 1o1, 40 for the same time
OF last week and $500 FOR the correspond.
ing time OF last year. Thus far IN the sea.
son they have been i.i1g.5o9 bales. CONF
nared with 628so1 for the corresponding
time Of last season. Exports since Friday
have been 454S6 bales. compared With a.,
$40 Tor the same time OF last week md ga
SOS for the corresponding time of last year
WAS 403,IT2 bales, compared With 423,JL8
for the same day OF last week and $50 ,6IS
for the corresponding day Of last year
Falrcnild & Hobsou wired from New or.
leans! ION the failure OF frost to material.
point higher than Saturday, declined and
closed / point lower than last weeks clos
ing while spots remained unchanged at
A.S4 for nilddllng; sales 10000
"1hc weather was very cold in some
parts Of the belt and while Fort Smith,
Ark. officially reported frost at tempera-
mre Of ~. Port Gibson, Miss, and Robe
line. La whore the mercury was 80, failed
10 report frcst
III can not be said that any good came
OF the cold wave since it has followed In
the wake OF the recent wet spell. aud can
do nothing but retard the maturing Of late
cotton, making II all the more susceptible
60 damage from killing frost which can rea-
sonably be looked for by the 10th of Oc
tober, As a matter OF fact, however. no
injury has been done by the present cold
spell other than delaying the maturing Of
the top crop, and as warmer weather was
predicted for tonight and Tuesday, shorts
made the most of conditions ana in the abb
sence Of outside support traded on the
short side. The trading was purely Of a
local character all day, both here and at
New York, aud as there was practically no
speculative demand TO absorb offerings
against spot purchases, operators, Influenced
by weakness NJ the security market In Wall
street, forced matters and succeeded In
lowering values some Is points"