The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-31
liverpool, t-s2d higher.
American side, unchanged.


Operators IN the cotton market yesterday
were hlied with varied apprehensions and
the bulls won victory more from the tim
;dlty Of benrs than from their own daring.
II l. scarcely necessary TO say that the
eyes OF the trade turned upon Texas. aud
the possibilities that mGv arise from late
events 81 the bottoms. like those Of h,
great State. seemed immense. There werc
few bold enough to v.n,urc az opinion rs
TO the manner in which the damage 50 far
viii affect the fua Yield. nor would snch
nm opinion have been considered valuable.
IN fact there could be no .cli1hl, estimate
OF tire extent TO which tue Plant has been
injured at this time nor Of The improve
fncnt that has taken place In sections wher'
there is no dcrger from an overflow. There
WINS nn,ric reason for uneasiness In other
respects however. and this led the shorts
10 cover their commitments IN rapid sue
cession The worlds requirement for early.
as we'll as an abundant supply Of cotton
caused unusual strength from the likelihood
Of DELAYED NOV ment. The probability
Of 4 greater infection from boil weevl,s
ami shedding MS result Of heavy moisture
and 4 high temperature was another source
Of fear. The volume If business was yct
quite moderate and generally inactive. hut
under such circumstances values hey nd the
current option worked their way up with
out rhe least sign Of aGgr7sslvcness from
either school Of operators. The pressure Of
liquidation almost threatened 60 change III
course In the enrly trading but the
shorts" were aftefwlrd placed clearly on
the defensive. while the advantage ~
"lcnrs" was gagged by the distance Of the
delivery July received another backsct
from the circulation Of notices The
Process ~ settling NJ commitments for
the month that held high hopes Inns been
a feature Of thu market, distinctive within
itself The notices were stopped" but
the shock to the speculative value was
nevertheless. sustained.
The position Of spots was distinctly firm
The shrlnkage ot visible and Invisible re
serves continues TO make itself felt, an,
later developments in the export side Civ
the spot holder greater range with whic
10 guide the course OF trading New
York writer states that the whole stua
ton is vitalised by indications II coutem
plated heavy shipments Of cotton to Europ
out Of the New York and New Orlean
stocks. already suggestive Of absolute des
weather In the belt MS would retnrd picR
Ing and marketing. Both bulls and bear
are waiting with keen interest the appeal
ance Of the governments monthly repoi
for August, which will be- issued OF neN
Monday. There Il little reason to doul
that general conditions would have con
pared with much favor 20 those reporte
In the Juiy statement could the past see
be omitted from the calendar. Bu, ms sue
is not likely to occur. time must prove I'll
most valuable counsellor to either class ,
traders.
Liverpool was good enough. all thlng
considered. Sales on the spot amounted
400 bales at quotations higher by 1921
On the last call contracts showed q loi
Of a single sixty fourth on near and stoo
unchanged on remote positions.
New York opened 3 points down on Jul
and practically unchanged on later month
small upward movement soon starte
but after an advance Of few points du
ing the hrst half hour there was rea
tlon and the low mark was quickly touche
A recovery Of this loss then took place 81