The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-08-05

AT THE CLOSE:
Liverpool holiday.
New York, 9 to ID points lower.
SPOTS:
Liverpool, holiday.
New York, t-teo lower.
New Orleans, 1-t6c lower.
Those who looked for tho governments
report TO reveal some hidden secrets to
Yesterdays session of the cotton market
were disappointed and the composure with
which tic trade received the document
encouraged the bear 10 make a tenstrlke.
To say that the opportunity was eagerly
prnsped but tells the story OF the day.
viewing the bureaus statement from
critical standpoint t Is correct to say that
II contained what was most commonly ex-
pected This may largely account for
what happened since the uncertainties OF
the time require something really positive
to change the drift Of sentiment. The
enlistment of the field was not pro
nounced as given by the New York Journal
of Commerce. and MS values have lately
worked under this influence the path Of re-
action was Immediately cut out. The main
point Of difference between these authori-
ties was the condition of Texas. On an
average date Of July % the newspaper estl-
mated deterioration OF 4.3 points, while
the department counted an Improvement
OF points compared to the same date n
month ago. There is little room for ease
Ia the conservative operator when opinion
Is varied to this extent. Those upon the
ground would likely say that the date Of
the government report permits It to more
nearly reflect the truth At the same time
there is no small number equally as well
informed who would say that If the report
of the Journal bore present date 1t could
lay greater claim to correctness.
In addition to this light upon the crop
the bears found another ally In SUMMARY
from the New Orleans Times-Democrat Ac-
cordine TO this paper the plant, generally
speaking, had been rescued by recent rains
and the downpour in orr own State has
not precluded the probability Of an i'm
menss yield. Under such circumstances
there was little left for shorts" to do but
crowd around che ringside and direct the
course of events. After the bolt from the
bureau there was small support to be seen,
tude OF the bull and while there was never
Indication Of absolute recovery the buying
that developed from the drop wns clearly
felt. This was mainly induced by the he
lief that final returns from the various
1ottoms In Texas as well ms the increasing
rnvages OF the bolT wcavil must yet be con
sdered. Al tho same time, there were
those In whom the trend OF the govern
mcnts statement revived memories OF '0G
with condition Mt the beginning only eX'
celed In that year the comparative de
terioration Of each has ouly brought thr
present August to is points better thar
In that year. which terminated with an
average of COZ In October and n crop oi
S.75n,00o. The movement OF new cotton was
n factor that urged on the bearsh tide
The variety Of sources Tor such q supply
seemed sufficient to cause n splnners iubi-
lee.
Liverpool was yet In holiday and Amer
lean Shorts claimed the entire feast. The
big English market will find several new
problems To solve upon It's reoponing nn}
the cue will be sought by bull and bear
nike.
Summary Of Times Democrat-Thc Times
Democrat presents the reports Of Its cor
respondents on the progress Of the cror
during July. 1t may be we'll to explain IN
this connection that the story is broush
down 10 the noon Of yesterday august 3,
II is important to bear this fact in mint
because both the agricultural bureau anI
the New York journal 81 Commerce closot
their reports on July 81. Great change
have occurred In the intervening week l
Is too soon ms yet to accurately measur
the effect of the returns, ms much Will dc
pend on the August weather and the dat