The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-04-27
NETWORK COTTON REVIEW
BOTH BULLS AND BEARS CONSENT
ED TO LOWER PRICES.
Same Element that Tried to Check Re-
suits OF One Operators Work Ceased
Upon His Withdrawal.

New York, April 26-- Notwithstanding
the advance Of the last two days, a bear
market has reigned on the New York ex-
change during the past week rather
with than against the consent Of what
is usually known as the bull element IL
would seem as II by mutual consent prices
were allowed 20 case of and lower level
slowly found for the futures. While natu.
raj causes have given reason for this move,
stll 1t ~mGst ne largely put down to the
work ~ few >men. and while they may
not be held responsible for the lowering Of
prices, stll the absence of support made
IL possible Tor tho decline to occur AS one
Of the great bun traders said during the
early part Of the week, when pressed as
to his position. Il am rot a bear" so the
Whole market is In an analogous situation-
while refusing TO be bears, stii decline 10
he active bulls. Altogether. the easing on
Ia prices Immediately before the opening
Of what is termed In New YORK the crop
season is rather advantageous than other.
WISE and If when tic varied reports OF
hot weather aud thoughts aud hne stands
and good growing occur, few 10 points
are Knocked on, level VIII be found from
which new market can be made that will
be In the end more propltouk 10 the health
of the cotton market IN general thau II
would il high prices continued and then M
! pleasant news began to appear.
AS 10 the situation al the moment 10 de-
scribe It al all IL is perhaps necessary 10
! BE- rather personal, for while cotton oper.
/ ators. as a rule resent AZ this time, rs well
! as any other, he Idea that onc-nan mar
! ket Is In progress, Sun 1t must be admitted
( that the position and even the uttcranccs
/ Of a certain operator are largely fenected
/ in the quotations that are ruling today
and for that matter have been Tor the lHsi
month A very carefully prepared cam
paign has been going on for some Time ant
Il hull sentiment created, which was los
tered by all sorts Of publications and table,
Of statistics thar were spread. mol 80 muei
through the usual channels, but rather b'
Individual appeals TO the thousands WIZ
I were Interested in cotton aud In tue prize
which Il commands. II seems strange u
the face Of many discOuraging Cirrum
stances, that the upward tendency has con
tinued as long as Il did. bat behind Il all
more or less unseen were the confident az
seIiiOns given out by the leader Of the cot
ton public as be- may be called, that III
Yaiue Of the staple WIS not 10 be found 81
Inc lgurcs then quoted for IL. He did no
uetray his clients, but the moment whe
realizing seemed necessary he then IN
formed the public that ne had at ieas
ceasod To be an active bull The results
direct aud Indirect, which this move ma
are very wide aud varied. u must be re
lnemhrrcd that one VINO goes ABOUT IN
81 strmatic way 10 put up cotion price
necessarily invoices the eninity Of the spo
/ men and these Ia an infnrmai way wer
la league against him They thought
Was necessary 10 hreak up his move hcfor
cvorhitaut prices had heen reached ana 10
strongest Kind n pressure was hein
, hro..ht 10 hear 20 upset his cacnatlup
wheT anything Ike soaring took piac'
With his giving W the market for the tim
peing this opposition ~ course collapsed
and We md Instead ~ any great decline
the very men who were so active IN tryin
Ia nroduce lower prices . little while ae
! at the same time became dormant with J
50 Ii ended as We have seen this week ,
1.-THE market being left 20 ITSELF withot
I, much pressure being exerted Ia either 0