The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-06-08
PROFESSIONAL LIQUIDATION
AND A LACK OF SUPPORT
Statistical Position Grows More Pro-
nounced and Reports on Crop Were
Rather Mixed.

At THE CLOSE:
Liverpool, 4 to 4-64d higher.
New York. to points lower.
New Orleans, I to 5 points lower.
SPOTS:
Liverpool, unchanged.
American side, unchanged.
The cotton market proceeded further on
its seesawipg course yesterday and In the
brief period for business gave an inning
TO the bears. There was so much liquida.
tion Of professional order that the value
scale succumbed to the pressure in & very
automatic fashion and "shorts" very boldly
extended their lines. In truth. the honors
az the session were divided In a peculiar
manner. The bears got the profits and the
bulls appeared 10 have the news
The statistical position showed nothing
but exhaustion and ;he deficit 10 stocks at
outpogts made heavy increase on account
Of a sudden squirt In exports. Advises
on the growing crop were well calculated TO
mix sentiment and the relative hrmness of
these positions uade II clear that thought
upon the subject OF any probable disaster
bed some part liz the general mind. Drouth
reports came from Southwest Texas dis
fr.cis and from portions of the Mississippi
valley and che ravage OF the boil weevil
was the source OF no small uneasiness. In
the almost entire absence OF speculative in
terest these conditions had very little
weight, however. and bulls could not be
stirred to action while tho professional
wao likes to liquidate at the end OF the
week was In evidence The situation was
not relieved of any OF It's confusing proper
ties. Bears. as well as others. know that
distance lends enchantment" and they can
not view the impending crop With perfect
satisfaction. II there were no floods or no
drouths or no pests the Information OF the
departments first statement might have
been taken as conclusive evidence ana the
prospect Of such yield as the condition
n gilt Indicate would OF itself have been
sufficient to straighten out the dents that
appear Ia the commitments of July
shorts" But every operator has learned
10 appreciate the difference between fact
and fancy and an era Of empty warehouses
IS no tune for the dream Of plenty TO lose
its splendid view. At the same time bulls
claim that the immense acreage may prove
a drawback instead Of au advantage since
signs have already appeared TO show that
tho plant has wanted FOR cultivation and
that the likelihood OF scarce labor promises
TO make the matter more serious before the
end Is In sight. New Orleans bull puts
the case in this way:
The New York Chronicle. ct this late
date, places the crop, that Is. the old crop,
ct 1o$50.o0O bales According 20 Mr.. Hes.
ter 0S52,ooo oales have been marketed 90
The list Of June Accepting the Chronicles
figures as near being hnal 1t will appenr
that consumption this season has been 437,-
oO0 greater than supply. AS supply
aud demand govern all commodities and
realizing the fact that consumption this
year, even at existing values, promises to
be as much as DIST 600. 1t can be easily
understood that while the possibilities are
good at the moment for making II 500 o0t
bales or more. the trade remains silen
bic awaiting further Developments In tn,
i.ogress OF the growing crop"
Fluctuations did not cover sufficient rang,
20 attract those Of adverse opinion aud thc
garment was cut too straight for the com
fort OF the scalrer.
Liverpool showed distinct signs Of op
timism Sales on the spot amounted tC
GOO bales at unchanged quotations, Or
the close there was an advance OF i.6i tC
ga on near and s-6i on far deliveries
Transatlantic operators are thrown between
visions Of famine aud plenty. while Ian