The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-21
DRY GOODS.

graph reports from out OF town SNOW
ing heavy buying in retail stores, While
the local attendance of buyers IN job
hing centres was as heavy as heretofore.
At first hands, too, the orders received
by mail as we'll as by store trading, were
heavy in all lines of cotton goods. The
market for wooden goods III some de-
partments show a falling off of interest,
hut results are still such as to justify
the assertion that the season will prove
to have been an exceptionally large one
in the amount of business done. In sta
ple cotton the demand for brown goods
is well sustained, with the exception of
export grades which are quiet.
Print cloths are quoted 23s cents, with
sellers Withholding goods except under
the most favorable circumstances. Prints
are very firm in all grades.
WHEAT.
New York, Aug 20.-At lao o'clock
to-day September wheat in the local mar
ket reached the long talked of goal of
one dollar per bushel. Naturally enough
the incident created tremendous sensa-
ton on the floor of the exchange and
was greeted with prolonged cheers from
half thousand threats, being re-echoed
from the crowded galleries.
Several times during the early after
noon the bulls mapped the price within
81 cent of the desired mark, but return
wave of selling orders each time swept
it back again. The final and successful
effort was made under the impulse of ex-
port rumors reaching enormous figures.
September was hanging around 991s
xr,hic
ed about and at once danced upward
in response to the excited local buying.
Higher and higher it whirled, watched
by everybody on the floor until the big
black finger on the record dial pumped
fairly on the even figure and Dollar
wheat in New York was an accomplish
ed fact
Now that the bulls have attained their
boast, they are as far as ever from being
satisfied and claim that the wave of bull
sentiment which has spread like fire
all over the country will carry the price
here to at least $1.25 per busbel and
perhaps even higher. That dollar wheat
is already a thing of the past was de-
monstrated on the late curb when fur
Their clamorous demands from high
strung local shorts raised the price to
the official close About $4,000 bush
els of wheat changed hands at 81 this
afternoon.
From the very outset to-day local
dealings were marked by great excite
ment. Everybody felt that dollar wheat
was in the air and while there were
occasional let ups when traders unload
ed labs of wheat, on which there was
good profit, they were invariably fol
lowed by a general Tightening of values
on fresh waves of reckless buying. The
excitement. eagerly swallowed the wild
est sort of bull news, such as would be
ordinarily rejected. The English mar
ket was up in the air. keeping free pace
with our advance. Their closing prices
were top for the day and 3AM41sd high
or than last night. French markets, on
the other hand held back and showed
practically no response to the eXtraor-
binary strength in other markets. Pri-
vate cables credited the English advance
to rainy weather and excited covering
by shorts.
throughout the day fluctuations were
very erratic, at times leaping 1013 cent
between sales. The trade was consider
ably amused over the stories of enormous
profits being made on the boom. At one
time to-day cash wheat here was nom
inally worth S10615 for No. northern
afoat, and No. 2 red $10.h A year
ago the former sold at 647s and the lat
ter 691s03s. The price Of September
one year ago was 633s and of December
sc cents. Bullish spring wheat news
was an important factor in the advance
all day, just as it was yesterday.
The full range of September to-day
was from 81 to 81, the close being 993s.
December opened at 96a4@973s, sold off
to SO. up to 90 and closed at 9SH. Total
transactions were 1856, 900 bushels. Ex-
port sales were 175 loads here and out
ports, including three cargoes for France.
e. B. CUTHBERT & CO.'S. LETTER.
New York, Aug. 20.-(SpeciaD-Cotton
was quiet and irregular to-day, with
total sales Of $1,000 bales. Weaker for