The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-08-08
LIVERPOOL STIRRED BULLS
With ACTIVE SPOT DEMAND.
Heavy Buying Proceeded and Feeling
that Long interest Was Held by Ex-
porters Caused Alarm.
At THE CLOSE:

At THE CLOSE:
Liverpool, 2 to 5-64d higher.
New York, 6 to 10 points higher.
New Orleans, 2 to 9 points higher.
SPOTS:
Liverpool 1-32d higher.
New York, t-i6c higher.
Houston, t-t6c lower.
Elsewhere, unchanged.
Yesterdays cotton market was a genuine
surprise to the bear. SO far ms outward
signs we're concerned there was nothing
from the field to account for the course Of
events, since all the apparent brilliancy in
that respect was brought into play without
effect. The bulls took their cue from the
actual STUFF aud when hints OF what An.
gust longs" might do In case an early
movement does not come to the rescue
Of the impoverished spinner were spread
abroad there was such disturbance in the
camp OF the shorts" as TO suggest the pos
sibllity OF a squeeze" There was de.
mand for spots that indicated that fabric
makers are keeDly alive to the condition
OF the worlds reserves aud calls that will
be made upon them IN tbs near future
In such circumstances bulls had only 70
lead the way. while the Developments ex-
posed the true luwardness Of things. I'm
der the inspiration OF late crop news the
short interest has become Of such dimon
slons as TO make the AFFAIR seem zone.
sided" while the long interest has been
constantly centered IN the hands Of eI-
porters and those who desire 10 hold the
actual cotton This influence was augment
Ud by tho part Of n leading New York
operator, who Il was stated entered the
market once more as n heavy buyer to
cover past commitments and disseminated
the feeling that has been aroused from
previous acts that something not seen on
the surface Is in store ana new cotton must
como IN hattallons to keep down the OPP
timism, In the nature Of things the cur
rcnt option was the fountain OF strength
and the course ot later deliveries were
more or less sympathetic,
Tho nerves Of the trade continued well
strung in anticipation Of valuable ntormu.
tlpn about the plant, but conservative op
orators stiu feared TO venture an opinion
as 10 a crop that might so easily be IN
made The tone NJ foreign advices was
well calculated TO stir thc trade to acton
II It could he Influenced IN favor Of the
hulllsh faith. The activity was not i'm.
mcusc atterwnrd hut the support was dis
tinctly on the expanding side and the
period nearest 70 excitement cnme when
the session had extended longest. The
variations gave ample evidence that thc
change was deep seated and the stcadlnes,
" the direction pursued quite eliminated
the scnlpcr II IL right 10 say that con
illusions differed as widely and when drawn
from the same Hypothetical facts.
Crop advces are mixed yet every on,
knows what favorable weather In Angus
md September aud late frost might &C
complish. It IS n popular belief that tn
wtrld will require 100000 this yen,
without having any cotton to spare. W
must 20 Into the new season with sup
pics from the old practically obllterat,'
Some parties OF usually good Judgment ar
hrvug cotton on the ground TINT no croI
con he raised that VIII Justify n price o
loss than 7l6c while the worlds trade con
di,iona remain as they are nt present o
reach what they promise
Liverpool boldly led tho march Sale
on the spot amounted to 5000 bales al
quotations higher by l32d At the clos,