The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-10
LIVERPOOL SPOT DEMAND
FORCES SHORTS TO COVER
Speculation Still Dull and Market Shows
Its Nervousness-Aaiters that Hold
Bears in Restraint.

AT THE CLOSE:
liverpool, 2-e4d lower to 1-2-64d
higher.
New York, to points higher.
New Orleans, I to points higher.
SPOTS
Liverpool, unchanged.
American eide, unchanged.
Yesterdays cotton market was n severe
trial to the bears. Dizziness was quite the
order OF the trade and the nerves Of the
market were sharply played upon. In fact,
such n state OF affairs was largely instru-
mental In bringing about the results OF the
day, for Shorts themselves helped to
make hullish victory In their efforts TO
quickly cover commitments not too well
protected. The powerful hold which the
actual stun possessed in the trade across
the water was also one Of the factors
which restrained bears and without united
action TO shape the speculative trend the
shadow was simply more obedient to the
substance.
The talent had another session Of Its
own, but none dared TO take the uffenslce
The needs of the plant are known to he
many and in such desperate circumstance:
contingency is not a safe enough founda
tion on which To base bumper crop. The
Improvement became most emphatic after
the pressure Of liquidation was removed
and buying was INDUCED In more freely
when the advance was underway than a
other times. The dgures of the movement
were scarcely worthy Of remark and tn,
matter of discounts which may i,e seen 10y
glance at July and October Is all tina
might prevent revolutionary period un
less the dream OF tho crop optimst Is real
lied The stcadiness OF values In such cir
cumstances suggests the idea Of wha
really would occur should an accident he
fall the field. Stocks at outposts hnv
dwinded TO a deficiency that makes tn
task Of the exporter an arduous one Will
the recorded sales at Liverpool urges o
the fruitful work No relax can he reason
ably forecast as to the desires Of the con
tlnent and the looms In Lancashire ar
doing what the genuine bull most desires
There is no reason TO believe that the prog
ress Of Industrial lines in this country wi
br in the least mpeded The realm G
things that are seen is freer from inferno
tInal complications than usual. Why the
should not tho matter Of production su
pass that Of consumption in Importance
The prophet will soon he Mt work {
course It is to he expected that the deal,
in hig figures will have his inning. Est
mates Will likely have their influence, bl
IT Is not thought that the humor Of IL
trade should he particularly suited
fances In the era close at hand.
Liverpool was quite In accord with huo
ant expectations. Sales on tho SIP,
amounted to 5000 bales at unchanged qu
tations. At tho close contracts advance
ih-64d on near and declined I to 2.G4d
far positions. The transfer ot real bal
does not explain the "bnncashire cote
crisis" or the reduction Of output as Il
only salvation for spuncrs."
New York opened / point lower
July and to points less on Int
months. slight weakness at on
mnde the lowest Of the day and :
fluctuations did not vary more m
points for the first thirty minute
steady upward move then began and
5.nolnt advance formed the level that p'
vailed until midday approached Anoth
small improvement followed the noon C
and quickly made the best OF the ia
from which there was little change I'M
tho last hour Of the session. a grad
decline at TINS time appeared huu VNlVuu
10 the close In the net result July n
August advanced . points, September
md tho other options gained and
points.
New Orleans started 10 points abe
tho previous close This was the low
of the day and slow improvement Sc
began, making n 6.point gain In the II
hour. This level held until the latter p
az The morning, when another hu
brought top prices. A 2point drop Il
made tho range that continued until n
the wlnd-up, when there was again /
10 the best of the day on the Anal call.
tho net result July advanced ] point, $
TENDER / and thu balance Of the list u /:
points Sales at the four American nj
kets amounted 10 2333 bales and spot q
tatlons were unmolested.
The movement did not alter Its cour
Receipts at all ports for the day were 2