The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-08-09
BULLS AND BEARS ALIKE
HAD A SUCCESSFUL INNING.
New York Operator Again frightened
Shorts by BulIish Tsctics---Ncw Cot
ton Feature OF Weakness.

AT THE CLOSE;
Liverpool, to t-2 points higher.
New York. 2 to 6 points lower.
New Orleans, to 6 points lower.
SPOTS:
Liverpool, 3-32d higher
New York, t-16o higher.
Galveston, Lice lower.
Elsewhere, unchanged.
Yesterdays cotton market had its period
OF trial for operators of either faith When
the wishes OF bears appeared to be nearest
realization the strategic position OF "longs"
would pronounce itself and quite undo the
work of the liberal seller When the mo,
ments Of strength seemed TO presage the
possibility Of large things the vision Of
new cotton would stay the hand OF specula-
tlon. All things considered the commodity
maintained itself with remarkable frmness
and the supremacy OF the bear was only
established in the final trading. On the
eve Of two holidays there was a pressure
OF liquidation TO Withstand, that in times
less empha tic would have been a serious
factor Of deterioration itself. In other re.
spects the main features were like those
Of the few days previous, but in some in
stances more clearly drawn. The shorts
felt quite insecure when Il was again re-
ported that a certain New York operator
whose dcings both pro and con have agtat.
cd the market right recently was a leader
In the buying support which was heavily
contributed 10 by Wall street. The effect
OF these operations was intensified by the
latest document from this source laying
stress on the possibility OF a relatively
Hphf mr. In nj
the ability OF the South in its present
prosperous condition TO h,ld cotton as It
sees ht, and advising spinners not to defer
purchases. In other words in accordance
with late predictions, change Of front by
Mr.. Price was freely talked Of and taken
by some ms n sign Of vigorous campaign.
almost served to turn the tide against
the price pesslmlst,
Advlces concerning the held had no par
ticulGr significance The statement Of the
worlds visible went another step to ac-
eentuate che timelness OF the incoming
crop, but the presence OF new cotton for
the FIRST time made itself felt In stalls
teal way. This caused the nrst excess III
several months TO be shown In the move
pent of the Interior which amounted tC
nearly 1000 bales at thirty OF the more
enough to accommodate many operators
m different views and to open hnrvcs
Of unusual proportions for the scalper For
elgn advices were thoroughly encourag n.
TO bulls and the high temperature In tn,
belt helped on the confident buyng
There Is much to be settled in the I'm
mediate future II either bulls or heari
wenr the victors wreath There can b,
no doubt but that powerful interests ar,
arrnyed on the long" side The opinion
prevails that this interest recognizing tn,
advantage OF the statistical position and
the relative cheapuess OF thr price need
no other incentive than a. crop setback C
take the situation Into ther own hands
without such contingency It is hest fol
ones self 10 Judge Of the consequences.
Liverpool easily toed the mark Sale,
on the spot amounted 20 1000 bales at quo
tations advanced 1924 AZ the close IN
tracts showed gain Of > to 2bs.64d, Thu
big English market will celebrate tn,
kings royal ascent TO the throne. from
which he already rules and after the pass
Ing Of such an event It Is quite likely tho
the problems Of the trndc will becom,
huger in the eyes OF transatlantic oper
ators,
New York opened unchanged on Septcm
Der and 10 3 better on further months. A