The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-14

MARKET WAS MYSTIFYlNG
TO BOTH BILLS AND BEARS. |
Heavy Offerings Came from Spectators.
Weather Took unfavorable Turn.
Uncertainty Of Top Crop.
Az THE CLOSE;
Liverpool, points higher.
New Y5rk, I to 5 points lower
New Orleans, point down to 3 points
up.
SPOTS;
Liverpool, ooints higher
New York, points higher.
New Orleans, revised.
Elsewhere, unchanged.
ESTIMATES FOR TODAY:
Houston, 1880 to 1880, against
7e47 last year,
New Orleans, 10000 70 $4,000 against
to,3a4 last year.
Galveston, $4,000 to 10000, against
1928 last year
Yesterdays cotton market was mystifying
10 bulls and bcars alike and the honcrs
that fell to the lot of either were small.
The trade was peculiarly divided during
the moments OF greatest activity. me
heaviest offerings came from those nearest
to the ringslde, and the heaviest buying
from the interior. whore crop conditions
are known from personal observation. me
spot demand was not intense, but there
was less pressure from the hrst sources
Of supply, and that fact augured wen
for better things during the later moments
of the session. Under the stimulus OF the
previous close there was such squirt or
buying In the early trading that prices
we're lifted 10 the best OF the day. Iu.
even this level die not prove equal to tue
bulnsh expectation. and in the disappoint.
ment there was line Of commitments
thrown upon the market that caused
values to fall With the same rapidity as
they had risen.
The weather Developments were the
causes for alarm ON the part of bears. \
rainfall was reported through Texas which
Nest operators considered more detrimental
than frost. but in addition 10 this the
northern portion Of the belt was visited by
q norther and predictions were freely
given that the frost line would be OK
tended several hundred mites soathward
before the end OF another day Advlces
concerning the top crop fin our own state
continued TO Indicate that It's realization
Il ,sAEs
condition Of the bol,s in the section where
most is expected is sufficient 10 place the
most confined believer on guard. Inat
the stage Of crop uncertainty is In It's
prime seemed clear to all operators, and
In a time when huge consumption Is al
most a settled fact, 1t may be said that
this condition contributed more toward re
straining the hear than all others. rh'
receipts were liberal enough TO make tbs
task OF the bull difficult one. Thos'
promised for today were on similar scal'
causing estimates for the weeks insgh
figures to run about 2O,OO0 above thos
Of last year, which amounted to 4A6,W
bales. II was pointed out that American
stocks are accommodating since ports nov
hold Sil 1854 bales, comunred with f2a,OS
on last Thursday This Increase Of l22,oS
bales in siX days II was said, wopI
cause II NRfA NfNAlNh NtStNlt supply hlhA'
ment, in addition 20 benrisb movement
The selling was noticoably large from IN
operators. who have lately been idcutine
With Wall street, and the spring deliycric
appeared 10 be the fav0gitc with tn
shorts. Business WINS active from IN
start, and big blocks went over the board
without causing the disturbance thi
might have been seen under similar c
Cumstnnces in the recent past. Fluctuator
were wide enough 10 lct Ia those Of a
most opposing views and tac variations
directed as 70 suit the purposes Of "a
Fcalpcr.
Liverpool failed 10 meet the common c.
pectation. Sales on the spot amounted
1900 bales at quotations higher by NV
points AZ the close contracts made an n,
rancc Of about three decimal points. IN
English market quois before second Gro
prospects.
New York opened two 10 three poin
below the previous close, There was
steady advance IN the early trading, whlC
brought the hest OF the day. This gal
was quickly lost aud decline to nr
prices occurred before the middle OF Il
morning, which formed the trading lev
until an hour bcfure midday. when
more decided decline began and brougl