The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-02-07
CONTINUED SPOT SHRINKAGE
lNTENSIFIES THE STRENGTH.
Liverpool Blazed the Way for Improve
ment, Better Trade indications.
Heavy Liquidation.
AT THE CLOSE:

AT THE CLOSE:
Liverpool, to 2-64d higher
New York, to points higher,
New Orleans, 8 to points higher.
SPOTS:
Liverpool, 1920 higher.
New York, t-sc higher.
New Orleans, revised.
Houston, t-16c higher,
Galveston, f-f6c higher.
The strength Of those sessions recently
gone before was but crystallized in yes
rerday's cotton market. Sentiment was
bulllsh where erstwhle doubts and merry.
Gus longs found Judgment in the genera,
thought. Ruls got all the news that
issued forth and their bank accounts. too,
experienced an sppreciahle growth The
inherent hrmness took root In the steadily
declining supply OF raw material. as man
ifested by the counted bales. and further
thrived upon the precision with which the
volume has maintained shrinkage. IN
terror reports related the story Of we'll
drained country and the marketable guam
tIty IN some Instances might have well
filed with alarm the mind of the hardest
short. The auspiclous circumstances were
supplemented by signs Of Improvement
where the spinner dwells and q healthy out
look for the general trade. The same calm
ness distinguished each and all TRANSACTIONS
Many investors took profits and IN times
less resolute the persistent liquidation and
Transporting Of commitments would have
presaged quite an opposite course. But
values bore the brunt Of all attacks and
other than an upward direction was at no
time thought Of
Liverpool blazed the way 70 elevation.
Sales on the spot amounted to 1000 bales
at quotations better by 1921. Contracts
finally advanced 2.6id on near and 1-64d
m far deliveries. According to private ad-
vices Manchester furnished the impetus and
under the gauge OF growing business the
problem Of supply is leading to grave pos.
siblltles
On this side Of the water animation was
more instructive to the trade. Absorption
was ready and nervous hears covered com.
mitments extensively. Execution on top nj
execution told Of the enlistment OF public
interest in tho commodity. but nothing
sensational was aimed Mt nv those 10 the
bullish camp Spot holders were the sought
and not the seekers. Their property was
an easy converter OF cash and also a premi.
um. FrigId weather loosepcd its grasp over
the belt and in tho prospect Of drawing
more actual stun" TO surface offered the
best feature for hcarish hopes
New York opened 4 up on February and /
70 higher on other months An imms
date small drop made the lowest Of tins
dsy. from which there was a steady up
wsrd move until S-point gain took place
This formed a level extending through
good portion Of the morning. In the lattcr
Of which smother similar gain occurred
This was lost and the previous range re
an hour after the noon call A slow nd
vance then started and caused top price
20 be touched at the beginning Of the ina
hour OF the session, The scale remalnc
very even for a short while. but n triHini
decline followed In the closing moments
In the net result August advanced
points, September Z, October and ia
nearer options increased 3 aud q points
New Orleans started unchanged to
points above the previous close. This wa
the lowest level Of the day and smal
fluctuations occurred IN the drst hour.
10 2-point advance was then recorded
and made range that scarcely varIe,
until near midday. similar increas,
sgain took place and appearing at tn,
noon call ruled for the following hour 4
small increase then made the best OF tn,
day, after which gradual decline from