The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-12-13
STILL HELD IN CHECK
Cotton Struggles For Rise But
Checked by Receipts.
a DEADLOCK IN STOCKS
Undertone Steady in Spite OF
Continued Bear Raids.
THE ACTION AGAINST READING
uncerta nty as to the Outlook of Trusts
Course of Market During Week
Will Depend Much Up
on Cuban News.

New York. Dec. 12-The cotton mar
ket opened quiet and about steady Mt n
loss of ld4 points Fol'owies the hrst
call the market further declined lG3
points. The early news from Europe was
hotter than looked for, but later cables
were unsatisfactory; there was little or
no outside speculative support. Private
wires to the Southern markets were UNI
satisfactory. and Fall River news was
less favorable. Local sentiment was co =
seryatively hearsh The market was II
small one in all respects.
E. B. CUTHBERT & cos. LETTER.
New York. Dee. -(Specian
cotton market showed a disposition to
recover further to-day from its violent
break of Thursday, but was checked by
the port receipts for the day pointing to
10000 bales against $4,000 last week
and 81, 703 last year Trading was light
throughout and mostly Of q Saturday
half-holiday character. The closing was
quiet and barely steady at Q TO 4 points
decline for the more active options after
sales of 10000 bales. After the close
New Orleans receipts for Monday was es-
timated at 10000 bales against 10000
last week and IA, T34 last year and Hous-
ton at IL 900 to $4,000 against 6,SO6 last
year This caused easier feeling aud led
to belief tint movement Of crop during
the coming week will continue liberal
STOCKS.
The deadlock in stocks continued to-
day extreme dnllness characterizing the
trading from start to finish. Outsiders
showed no disposition, however, to hqui-
date and this with bank statesmen and
strength in wheat kept undertone steady
despite the efforts of the bears TO depress
the market Reading continued weak
feature on selling influenced by the action
of the attorney general of Pennsylvania
in instituting proceedings against the re-
organized coal and railroad combination
in that State 1t has been thought that
such action would eventually be taken
against the Reading Company ever since
its reorganization by foreclosure was
proposed and that the charter scheme
would sooner or later be tested in the
courts. The bears argue that this is tht
first step in litigation against coal inter
ests generally and they have sold boil
Reading and Jersey Central shares shor
| in anticipation Of the Attorney-GeneraPi
action subsequently causing holders t
| liuuidate. The course OF the market dur
| ing the coming week will depend largely
| upon the news from Washington regard
/ ing Cuban affairs and corporate privil
eyes Our information is that CubaI
| resolutions will be referred to foreign
committee, but that none of them viii
| pass AS far as attempted Legislation
against trusts is concerned it is un
certain what will develop. The Presi
dents attacks on these, it is thought
| viii stimulate the introduction Of meas
ures calculated TO relieve the oppression
| OF the humanity referred to- Many lool
| for continuation of dullness till afte
the holidays and not much change eithe
way from present prices until afte
Christmas, but with beginning OF ney
year period OF activity and higher mar
kets all around are generally predicted.
WHEAT.
New York, Dee 12.-Wheat was furth
.er stimulated to-day by large export clear
ances from both coasts this week OF 4
'222,714 bushels, firmer and higher ca
bles and indications visible supply state
| ment will show decrease of one and
half million bushels on Monday. Th
foreign markets were stimulated by GU
advance yesterday, and bullish opera
tors from Argentine and Russia. Tradini
was only moderately active as there wa
little disposition to sell and buyers die
inclined to follow the advance. The clos
ing was steady with the improvement
well maintained.
e. b. CJJTHBERT e. co