The news & observer., 1896-12-29
Weekly Receipts OF Cotton 30.
600 More Than Expected.
WHEAT TENDENCY HIGHER
ButiLight Speculation and Chi
cago Boogaboos Depress.
THE BEARS CONTROL STOCKS
Conservative Cuban News About Offset
Fears From Chicago But 6sYond
These Features There Was Lit
tIe Ot,tside of Trade S.
tie Outside OF Trade S.

New h
ket closed steady at a net decilne vi lazy
15 points. The course OF the mar
ket was down and almost from Uhe sUirt
to finish, receipts overrunnIng eslInhaIes
and being calculated as high as 100000.
A feature OF the market was the heslta-
tion Of local traders to sell, notwlthstand-
ing the large receipts. Outside mterest
is next to nothing and the market is al
most dependent upon the local contingent
u. B. CUTHBEBT & cos. LETTER.
New York, Dec 28.-(Spec;aD-COtton
was weak all day aud closed weak with
prices within to . points of the lowest
showing a net decline of 10 to 10 points
from last Thursdays closing quotations
after sales Of 194, 800 bales Instead Of
the receipts showing the large decrease
so confidently predicted, they continued
heavy and this with Liverpool weaken
ing under the pressure, together with gen
eral liquidation in January, with to-mor-
row the first notice-day for deliveries,
led to the weakness in the market 1t
was a day of taking losses and liquida-
ton was general with selling on stop or
ders the feature. The total amount Of
cotton brought into sight for the week
10000 more than had been expected, n
gainst 391, 900 last week and 100000 hast
year. To-day's port receipts were esti-
mated at $4,000 bales against $4,000 last
week and $4,000 last year.
STOCKS.
New York, Dec. 2S.-The stock mar
ket ruled steady and weak in the last
hour with declines ranging from ~ TO
per cent from last Thursdays prices.
There was no outside business and with
the financial situation in Chicago aggra-
waited by rumors of impending additional
failures before January 1st, the market
continued in the control OF the bearish
room traders. THE receipt of more favor
able advices from Washington IN regard
to the diplomatic action between Spain
and this country toward Cuba, checked
the selling movement shortly after
O'Clock and influenced covering and new
| buying for long account by traders. The
advices from Washington reported tina {
! the administration and the Madrid gov
ernment were coming together on ohe Gu
/ ban question, and it is stated that unless
something unforeseen happens to check
negotiations an agreement will be reach
ed calculated to set at rest all feeling of
/ trouble between the two nations over
Cuba This information seemed to Offset
the Chicago advices, especially as 1t was
accompanied by good buying orders from
/ the Washington spectators. AS the
/ market hardened sellers were scarce and
I the covering demand increased and the
: close was generally firm with the majority
+ of the list outside of the grangers show
ing fractional net gains over last Thurs
days final prices Sugar recovered its
! early loss of one point and closed H high
er. Likewise Manhattan. Reading was
! strong and closed one point higher. The
grangers were all influenced adversely by
+! Burlington's unfavorable statement
( showing a decrease i'm surplus of over
! 100000 for the month of November.
The stock declined 2 per cent TO 6S15;
Rock Island 115 per cent and st. Paul I
per cent Each rallied IA to p in sym
pathy with the improvement In the rest
of the list Consolidated Gas declined
on renewed liquidation.
WHEAT.
New York, Dec. 28.-Wheat opened up
IA cent on the Light worlds shipments,
/ large decrease on passage in the visible
4 supply, but reacted later on absence of
/ demand and liquidation influenced by
! fear OF further trouble at Chicago with
more failures there before the first OF the
{; year But for this latter feature, and
/ the Light speculative demand, conditions
: seem favorable 90 a better market. The
tone at the close was steady with prices
F, unchanged from Thursdays closing.
E. B. CUTHBERT g. GO.
{ NEW YORk.
/ NEW YORK, December 28.-Futures opened
/ weak; sales $500 bales
Futures closed steady at the dealing. aalas