The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-05-09
Liverpool, 1-16d lower.
American side, 1-Se lower.

Yesterdays cotton market simply respond
ed to feverish unrest on the part OF long
holders. and bears pounded for all the
blood that could be drawn from such a con.
dltion. II Is unnecessary to add that ihe
latter contingent was entirely successful,
for swoop occurred in the value scale that
reached the innermost depths OF the com
moditys strength
There was a general disposition 10 let the
disabling features run their full course and
liquidation by those who have tender nerves
proceeded on a liberal scale. There was
very free selling for the short account and
the wide diffusion in long contracts aid.
- the weakness that these offerings pIo-
Nhced. 1t is also to be noted that the
periods opened an easy way for enlarging
the Tong" account that already existed
and the opportunity was readily grasped
with that end In view. Fluctuations cover
ed a broad range and the lack of supp ,rt
removed all intentions Of changing their
direction.
number Of causes appeared on the reg.
lister Of facts either Of which might have
tended to check the speculative spirit.
That more than this occurred. however. SIG
gests the possibility that bigger things lie
beneath the surface. or the hand OF man'pu.
laton has found a splendid field for its
skill Among the first mentioned IN.
fuences there was an Increase in the vol.
urne Of arrivals at outposts which conp1rcd
10 those OF the former year made the
prophets Of exhaustion tremble for their
reputation. At the same time the falling
of which has been noticeable In exports
for the last few days was more pronounced.
The deficit In port stocks was thus orldi-
Gated and the supply for the FIRST time in
several months stood practically the same
as last year. Estimates for Houston we're
marked by the same shortage as heretofore,
but those at New Orleans were not senid-
cant.
The distrust engendered by recent DIS
turbances In the financial world also con
tributed to the lack Of confidence. Under
these conditions IL was the aim " the bear
to divert attention from the inndequacles Of
the present TO the promising abundance of
the next crop. News from the maturing
plant was Of the favorable kind, and II was
set forth that advantages which buyers Of
the. finished product might derive from post-
poning their contracts would cause such
reduction In consumption for the summer
months as 10 bring about another revision
10 he figures. These influences operated
Win thelr lul'St loIie ana prices sank
steadily away after a bulge in the early
months. II can not he said that the faith
Of the bull was shaken. There were those
who gladly hailed the opportunity 70 get
in on more favorable terms, and It was also
stated that there we're those VINO wanted
the inducements greater for removing the
supplies from American shores in order
that the later fireworks might shoot Up
higher.
The decline had It's origin In the weakness
OF foreign trade. Liverpool ahoundr1 in
pesslmlsm. Sales on the spot amounted to
5000 bales at quotations lower by list
At the close contracts were lower by iR-G4
to sod. 1t Is not strange that the big Eng
llsh market should accept theories that