The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-08-21

Yesterdays cotton market was irbueI
with iethargy. but lost none OF its unsnsx-
able strength. The reports from the netd
nRain nerved the bull to action ani caused
the bear 20 sit in silence While prices
revolved within 4 radius II five points
The omens Of the hour pointed cut TO
much To so unhealea ard shs persistent
absorption OF coz. on In either form, -ras,r-
ed the desire for IT, In times whzu
moderate crop Will nor suffice and tas
elements against larger one are ac7lve.T
at play ths "saort~ was easily persuade.
TO that conservatism that ml=ht have been
more pro6tahiy employed when the crog
existed only 10 the drs ymsrs sye. me con
viction tia. tn pian, Aas been damaged
gained hsadNay In rac tuner circles 81 the
trade SRI ne casapnsss ~ which new cor
ton has been 5oasht did 40, make ta-
feeling easier auoas the holders OF con
tracts Tor The near months
In such circumstances foreign operators
took the Initiative ana the optimism might
have iusti1ed a builish stampede had the
trade been unsettled In its position mere
vas strong inclination to wait for dem.
tie news, however, since the possibilities OF
supply and demand We're varied This fac
tor contributed more to the inactivity han
q lack Of interest ana the wants Of buy
ers extended largely to the actual stur A
further iuroad upon New Yorks certincated
supply to satisfy German consumers had
It's in0lencs upon sentiment and the fairn
Of the high price leaders on the metropon-
tau exchange was still a feature or
strength, The part Of new cotton in the
movement was conspicuous out not equal
TO thu needs thereof and more interest
was conferred upon the quantity that is
Ekeiy TO follow. The width OF the range
vas all that prevented the scene from be.
Ing perfect 70 the scalpers view. Filled
with threatened annhilation the short
continued to suffer from an abundance OF
company gathered wheu the crop bore dit
ferent signals, An August corner was
scheduled rs one Of The things Inevitable
1t was cla med that Il large Philadelphia
house is In an oversold condition, while
available stock nt New York Is at the
danger point. II was urged that such a
state of affairs Is serious from the fact
that, measured by the usual differences ex
istug between New York and Southern
spots prices the latter are too high tC
supply The deficiency. II was also set forth
that In view Of the hand.tomouth policy
that has been pursued by both American
and European spinners on the theory OF AZ
early and immense yield that feature Il
liable TO change with an emphasis tina
will render 1t more decided bulish fac
tor IN case the belief becomes genera
among tn spinncrs that the size OF tn
crop was mlscaluculatcd at frst lnerna
onn trade conditions were reporte
tcathy at latest accounts aud, barring al
rulooked Tor calamity there was no rcasol
to believe that they would be otherwls
IN the near future.
Liverpool sounded the keynote to trading
kalcs on the spot amounted to 1850 bale
Ut prices advanced l.32d. There was
tnnl gain of > 10 64d on all positions
u Is claimed hat the fabric maker 1
leading the way abroad.
New York opened points higher tina
the previous close. This made bottom prices