The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-31
COTTON SOME BETTER
Market Closes Steady at to 2
Points Advance.
STOCKS AND BONDS FIRM
THEY DISPLAYED EXCEPTIONAL
STRENGTH AND ACTIVITY.
Wheat Had a Remarkable Number OF
Ups and Downs But Finally
Closes q TO 7 8 Higher.


New York, Jan 31.-Tbe cotton market
has been a small one, exceptionally so,
has indicated by the unimportant sales
of $4,000 bales. The spread of iiuctua-
tons was narrow at most, being only tlve
points, while most of the months scarce
ly changed a hair at the opening call.
" hich showed a loss OF ] to 2l2 points.
Later the market rallied II to points.
with the improvement started with light
buying by n few commission house, said
to be for New Orleans account AT the
same time Southern spot market advicas
wer somewhat encouraging, and later
indications as to receipts for next week
pointed to a movement less than estimat-
ed Hence the market, though quiet
throughout the session, had n firm under
tone. The close was steady at an adj
vance of to points.
Il. b CUTHBERT e CO.'S LETTER.
New York, an. 30.-(Special.) 1.-The
stock market showed more activity and
strength to-day than it has for some time.
| The bulls were greatly encouraged by the
absence OF any had news developments,
and foreign houses showing disposition
to Increase their holdings and they re-
The continued good demand for bonds
from Investors was very encourag ing
feature, and this together with renewed
outside buying in the low priced railway
shares greatly helped to stimulate the
buniSh sentiment The shorts were
caught in the upturn and were forced to
come into the market and recover the
stocks they had sold at the best advant-
o, rIVNsa fhav xsray.a ttpa hla ~ do aG
There was no selling pressure except
| from local holders who were willing to
| realize their profits. AS a. consequence,
| The market opened active and buoyant
and steadily advanced up 10 the close,
| with the final prices about the best of the
| day and showing a net advance of gen
orally 1 per cent over last nights closing
quotations. The securities OF the Atchi-
son Company, Northern Pacific, Missouri,
| Kansas and Texas and the Granger
were the noteably strong features and
were the leaders in the upward move
ment-
COTTON.
To-day's speculation in cotton was so
| dull that there was very little change in
| value and absolutely nothing new was
| developed in the situation or In the con-
| ditions surrounding the market. Prices
| 1uctuated within the extremely narrow
narrow range of two points up and down
| the scale from yesterdays quotations,
| and left off almost precisely the same,
with totals of 2S,SO0 bales, from which
you can easily obtain an idea of the gen
eral character and the interest shown in
| the market The port receipts were very
| light comparatively land early pointed
| to but $4,000 babes against $4,000 last
| week and $4,000 last year, but this bull
ish Influence was offset by a further de-
cline of 1872 for spot cotton in Liverpool,
and liz to 2-64 In futures. We do not
| see anything in the situation TO expect
much change In the market next week,
and therefore repetition of the present
| small and narrow fluctuations are like
| ly to prevail
| WHEAT
| Wheat made further substantial re-
| covery to-day on active buying by shorts
and for long account, influenced by the
| Liverpool markets showing a frner I'M
| dertone and more liberal engagements re-
| ported made by exporters for shipments
| abroad in the near future. Twenty loads
| more being taken at this port alone, to
| say nothing or the engagements at other
seaboard points, were engaged. In addi-
| tion to these features some of the larg-
est and most influential operators in the
| West were open buyers and advanced
prices. The first prices averaged one
| cent higher for May in Chicago. After
| the first hour the fluctuations were rather
| irregular, owing to the pressure Of scalp
ers who bought yesterday TO realize.
Prices fiuctuAted up and down "a cent,
with the extreme 76 and T47A for May.
Corn and oats ruled duh and fractionally
lower.
e. b. CUTHBERT & co.
NEW YDRh