The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-31
Tendencies Increase Con-
fdence in the List.
GOLD TO COME THIS WAY
NOTHING IN SIGHT NOW POINTS
TO A BREAK.
WHEAT DEPRESSED BY FOREIGN NEWS

Market Rallied on Close Recovering One Cent
From Lowest Cotton Continued Irregular
and Unsettled and Closed at a
Slight Decline.
New York, Aug. 3O.-Liverpool cables
at hand when the market opened this
morning were disappointing, crop ac-
commits had bearish average, receipts
were heavy, outside buying orders were
few. and local sentiment had bearlsh
temner. vet the market opened at an adj
vance Of % points ON August, one polnt
ON Seutember and October and 203
POINTS an the remainder of the list. Dom
mated by manipulation in August with
anprehensions that the deal would extend
+o Sentember and October caused more
or less hesitation. Following the open
ing cali the market readjusted itself to
o not advance of sac points before noon
with the exception being August, when
Of that hour showed a net advance OF
20 points and held the general list. Later
in the session, the market had an easier
rndertone and estimates OF neaVy re-
CENTS for tomorrow. especially at IN
terror points. At the best point the
general list showed a net advance OF
3n7 points, with the market finally quiet
and steady in tone at net advance Oh
205 points on the general list, while the
net advance on August was - points.
DRY GOODS.
New York, August 30.-Dry goods
market opened with firm tone and de-
mand both by mail order and IN store
trading of very fair proportions. Ihe
market was still filed with buyers at
iohbinc centers and first hand buyers
were also in evidence. Cotton ana wool
ems alike are firm and active. In the
former the market is still OF the klnd
which makes sellers hopeful. The situa-
tion IN woolens is steadily working itself
in shane. Stocks have been well taken
in preliminary selling and orders are
beginning to become factor IN the trad
ing. Staple cottons are still firm. PRINT
cloths are still very firm. Futures are re-
fused at 25s, and that quotation on spot
was not met with much alacrity by
manufacturers. Odd goods are also
strong Prints are very active, and
the price situation was firm one. Sta
pies are in particularly good demand
and are firm in tone.
E. b. CUTHBERT & CO.'S LETTER.
New York, August 30.-Wheat felt to-
day the depressing influence of weaker
foreign adviees, increased Northwestern
receipts and the lack Of aggressive bull
support, and Notwithstanding a decrease
in our visible supply of over 100000
bushels. and decrease in the English
visible supply for the week of 1S6,0O0
bushels, the market opened easy and
closed 49, cents lower for September in
Chicago. and " lower for December, COM
pared with Saturdays final prices. Sep
TENDER was the weakest option because
of liquidation of small holders on account
of tomorrow being delivery day, the
premium of 21h cents per bushel, which
existed in Chicago, being wiped out and
the option closing this evening at SO cts
or a discount of 3s for December. The
worlds shipments of wheat for the week
to Europe from exporting countries were
1853. 600 bushels against 7,242,OOO last
week This, together with large in
crease in the amount on passage, offset
the bullish estimate of the Vienna Min
lister of Agriculture of the worlds pro-
duction The markets rallied in the late
trading on covering of shorts, with prices
recovering about / cent from the lowest.
Stocks-The stock market developed
further activity and strength today, with
a renewal of the good buying in the
Changers and Southern and Southwest
ern. roads by insiders. The advices from
London were more reassuring and with
firmer and higher prices there. The in
nf no nj
and reports Of larger earnings was the
principal news on which the buying was
based The market opened firm and
steadily advanced / to ~ per cent.
These high prices brought out free real
izing sales in the afternoon and under
this pressure the market receded gradu-
ally and lost nearly all the early inn
proyement. There is more talk of the
possibility of gold shipments commenc-
ing from the other side to this country.
The spring wheat crop is now out of
danger and. except in portions of the
Red River valley, the future weather
conditions will have no effect upon the
crop. The general run of news having
any important bearing on the stock mar
ket, as far as we can see, is likely TO
continue favorable, and therefore, there
is nothing in sight to exercise apprehen-
sion of break in the market.
Cotton continued irregular and unset
tied today. The Liverpool cables were
better than had been expected, coming
1-32d lower for spot with sales of 5000
bales and futures closing firm Id higher,
after opening ] point lower. This, with
port receipts of 1900 bales, led to
firm opening and advance of 6 to Z
points throughout the list from Septem-
Der, while August, under manipulation
and covering by belated shorts advanced
20 points Late in the day the market
turned easier on liquidation by early
buyers and hedging. The market react
ed and closed easy, at a net decline of
6 points on September and to 3 ON the
rest of the list. Spot cotton was adj
vanced 3-16 here to 81 cents for mid
ding. The sales were 20 bales to spin
ners and 1900 delivered on contracts.
There were notices issued for deliveries
tomorrow to the extent of 5000 bales.
NEW YORA.