The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-05-14


New York, II to % points lower.
New Orleans, 15 to IS points lower.
SPOTS
Liverpool, unchanged.
New Orleans. t-t6e lower.
Elsewhere, i-9o lower.
Yesterdays cotton market was one Of the
weakest and dullest Of its kind. The fea.
lures which have nerved the bears to action
In the recent past came out in boider re.
lief and the horn OF every approachable
bull was shortened by the process As is
well known the upheavai was rapid and
steady but sentiment was So piiable as 10
indicate that with further efforts Of the
same order the downfall would be quite
similar. There was nothing Of the sensI-
tional in evidence, and to the average OBJ
server It appeared that the question Of
supply and demand Is simply shifting itself
and that henceforth the trade must solve
the problems that confront 1t from Sep
TENDER or October II not a later point OF
view. OF course such a sleight Of hand
performance as the accomplishment OF this
end would require is highly pleasing to the
fancies OF the bear and the trnding Of the
day suggested the probability OF opinion
moldlng Itself after such fashion.
The bureaus weekly bulletin was a ma
terial aid to the purposes OF the bear. These
ndvices Of the growing crop were such a.
to put the theories Of big yield once
more in motion, while the hammer cIIb
piled with constant strokes The iuforma-
ton from every portion Of the belt state /
that the stand was excellent and planting
and replsnting was shown to be practically
mi
he able 70 transfer their engagements from
summer to fall months on account Of the
discounts offered by the lattcr options gave
rise to thoughts Of o decreased consump
tion and encouraged tho element which WIS
selling short" to heavily extend its lines.
Strong cables from abroad made M i'm.
preston on the general mind so intent was
II toward pessimsm After small firm.
ness following the initial range the cmhold
ened bears carried Of each recurring honor
and It appeared from the general course o.
events that the decline was only Interrupted
by the sounding Of the eongs.
The figures Of the movement were easily
bulllsh factors There was a deficiency in
arrivals AT outports in estimated receipts
for today ana In the volume Of counted
bales for the interior that made visions OF
famine fly thick and fast unless something
radical does not appear about the world
taking in the closing quarter Of the season
Such considerations were without effect
however. and actual cotton shared In TIL
prevailing easiness. II is worthy Of NOT
in this respect that the range Of quota
tons has little to do with real transaction
on the spot aud that the holders Of tn
remnant spurn the ofhcial figures with n
H. -, III. 4,
age point Of position. Bulls vet see III
silver lining and are confident that the al
petite n hungry manufacturers can not L
nppeased for three months by promises {
ar enormous meal sfterward.
Liverpool was assuredIy the forerunner q
better things. Sales on the spot amounte
10 COCO bales at unchanged quotation
There was a dpal gain in contracts Of I
3-G4d on near and / to 1ia-64d on diStar
deliveries Lancashire needed the warning
n current statistics and exporters rehectc
the wants of Transatlantic operators.
New York opened to 6 points higher q
all positions slight irmness occuue
with the first trading, after which a decr
n To 8 points made the range that q
tended through the greater portion Of II
morning steady recession Of 9 To
points started toward midday and luctu
tons remained narrow during the me-
hour Another weakness then appearf
and showed 4pont decline at the heg
ming Of the last hour Of the session IN
level scarcely changed until the hnal ca
when there was a drop to the lowest
the day In the net result May lost
points and the later deliveries went IL
II points lower
New Orleans started to down on ne
and 2 to less on further deliveries a
to 4point drop occurred very soon al