The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-25
HEAVY SELLING MOVE
BY LARGE INTERESTS.
Weaker Spot Demand--Favorable News
From FieId--New York Operator Gives
View of Immense Crop.

Liverpool, t-2 to d 1-2 points lower.
New York, 9 to 20 points lower.
New Orleans, II to "a points lower.
SPOTS:
Liverpool, t-32d lower.
New York, Slice lower.
New Orleans, 3-f6c lower.
Galveston, t-16c lower.
Houston. t-16c lower.
Yesterdays cotton market presented
rather unusual scene for these times Of
deadly dullness. The speculative wheel was
In active motion from start to finish aud
the hnal developments made II very clear
that interest In certain quarters has only
been sleeping in order that greater ylgor
may be finally gained. In fact one might
pc led to believe that the campaign
against the producer Is now on and each
succeeding event will be used to bring
prices to more convenient level ere the
bulk of the coming crop floats in the chan.
nels of trade. After the initial break
which was largely persuaded by the news
from the neld, there was nothing unusual
about the early trading The closing mo.
ments contained tho surprises however.
and visions Of the fnst approaching harvest
gave the bears complete control. An opera
tor IN New York wast,bod enough to ven.
turc a prophesy Of the yield and wniie
the figures so far MS given ont were not
definite enough TO base n conclusion upon
the trade was In no humor TO Withstand
the suggestion of the larger amount. Jle
probability Of 100000 ana the possibility
of 100000 was coniectured. II has been
the contentious of bulls that they will lie
found right about the price II wrong about
the crop when the fall months are at hand.
They claimed that allowing the figures tn
60 at 100000 the wcrld would he driven
to such necessities as to make this amount
appear az inadequate In the coming season
as a crop OF n half million less IN the past
But in going SO far beyond this mark the
proposition is quite different one The
worthlessncSs Of an estimate at this time
should really not render II cause for con
s!deration aud It Is not thought that the
effect of the document was more than "A
sentimental one.
Under such circumstances the selling was
immense. Large financial interests were
pursuing such course aud the offerings
were sufficient to unnerve the sturdiest
bnll. Advces from abroad encouraged the
feeling OF easness and actual cotton was
the source of attack by bears as well as
tile less substantial article Buyers mani
tested little interest in the developments
aud exporters went their way In very
liStless manner, The circulation OF new
bales was another feature used TO shape
the drift of opinion, while reports from the
belt could not be regarded as otherwise
than favorable.
As the time approaches for the govern
ment's statement for August, conditions nre
known to be at quite a contrast to those
existing at the issuance Of the document
for July. The drouth had then run t.
the end of It's course, and scattered ant
heavy rains in Texas and the Gulf state.
have been of common occurrence since. /
can not be said that opinion has under
gone a change. But the crop Is loominl
larger stil as controlling factor OF tn,
situation There are those who know tina
the future contains almost everything II
this respect and the devastation of the Dol
wccvi must soon be contendcd with Al
the same time the possibilities OF the cru
cia period are always Immense and the