The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-03
Liverpool unchanged.
American side, unchanged.

Yesterdays cotton market was session
OF allegiance in the course Of which the
patience Of the bear was severely tried
The thread BIZ which the trade was hung
embraced the governments second monthly
crop report which will issue forth today
and which bulls claim will do much to DIS.
Illusion the faucies created 10y the Jul,e
statement. Sentiment was framed veay
much in accord With this view and as Ma
result shorts" were Kept well In chelts
through the entire proceeding Just rs
rush 10 take profits threatened a setback
the elements OF support bec2me pronounced
and in the later trading bulls held the
reins with perfect ease An additional I'm.
petus was given 10 the leading feature
from the fact that the departments doc
ument VIII not count the benefits from the
rains in Texas since June . The latter
feature will probably be discounted al the
time yet the feeling Of uncertainty Is in
a large measure augmented. There was no
speculation Of an animated character and
the results were obtained by simply a
casual exchange Of commitments In such
course fluctuations clearly rejected the
doahts that fill the mind Of the trade and
the parrowness almost made the task OF
the scalper q useless one
In spite Of all that may be said the
knowledge Of the growing crop IS too
meager for any practical good knowl-
edge Of other matters thar relate 10 supply
and demand is too general for even the
skepdcal 20 doubt The rapid shrinkags
Ia stocks at outposts car not fail To a..
tract attention and IL ~ also to be con.
sidered in this connection hat exports are
yet to reflect thc force Of the continental
demand. Backwsrdness might be a serious
thing II II proloDgs famine even with the
promise Of abundance. When an equilib
rum Is restored In foreign financial and po
litcal circles what may he expected in
the way Of better consumption: At the
same tine there is the heavy difference e
overcome by the first placing Of next croy
options on the market at so huge a dis
count. In such circumstances the improve
rnenr Is a naturn result Activity was alb
sent and very little cotton could be fount
TOR sale" The statistical position easil!
suggested that the midsummer option
might almost corner themselves or that th'
hand Of the manipulation might seize
golden opportunity. The spirit OK unres
was thus engendered with greater force an
TO the power of bumper crop the ess
with which July or August could destro
this power was not entirely lost sight OF
Liverpool was well in line for bette
things Sales on the spot amounted :
1900 bales at unchanged quotations. Their
was bnal advance in contracts Of t
3.64d on all positions The action Of spir
ners at Lancashire and on the continen
leave explanation unnecessary.
New York opened . 70 up on near an
unchanged 10 ! better on next crop options
There was little variation IN the earl
movements after which steady us
amounting TO points formed the Level ths
ruled during tho FIRST hour. Another huls
appeared as midday approached and II
next advance took place half hour later a,
Ter which there wore no changes worthy
note until in the closing moments whe
there was a rise to the best 81 the da,
In the net result July, August and Sci