The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-03-19
Cotton Closed Steady at Loss
of to 2 Points.
OPENED AT AN ADVANCE
BUT WEAKENED UNDER FOR
EIGN POLITICAL RUMORS.
WHEAT ABOUT UNCHANGED
Corn Closed a Snade higher. Oats
title Lower and Provisions Gained
1912 Cents.-The Course OF
Stocks Was Extremely
Irregular.

irregular.
New York. March 1S.-Trade was eX-
ceptionally slack on cotton to-day. frlces
opened steady at an advance or 100
points ON better cables than looked 1or
and renewed crop scares from the MISS
issippi further advanced 102 points ana
then weakened under liquidation ON a
small scale, the market being entirely
destitute of speculative support. Ihe
weakness that followed the early market
was increased by renewed reports OF
threatening political conditions abroad.
Put selling was checked by the claim
that unfavorable weather conditions IN
the South point to late planting The close
was quiet and steady at a net decline OF
lao points.
f. B. CUTHBERT * CO.'S. LETTER.
i New York, March 1S.-(Special)-
Wheat ruled quiet and steady to-day
with small trading and fluctuations con-
fined within range of * of last nights
closing quotations. The early Liverpool
cables were somewhat disappointing and
. this. with some local and foreign selling,
led to an easy market at the start and
caused a decline in Chicago. The Gin
cinnati Price Currents crop summary
confirmed in part the previous crop dam
age reports from Illinois, Indiana, Mis-
souri and Kansas and this with the sub
sequently better tone of the closing Law
erpool cables and war news from Greece.
stimulated a better market, and prices
gradually recovered all the early loss
and the market closed steady with the
| final quotations unchanged to Is higher
compared with last nights closing. The
cash business continued small, and very
unsatisfactory feature. Only two loads
/. of wheat were taken here by exporters.
| A large cash business in corn was re-
! ported in the West equivalent to 100000
bushels 10000 all rail to the Seaboard
! and $4,000 by boat The foreign houses
! continued good buyers, and prices closed
i firm.
! COTTON.
/ Cotton showed no new features to-day,
+! trade was small and fluctuations were
| narrow and unimportant There was
| nothing in the situation to help the mar
! ket and after slight advance at the
/ opening, in sympathy with a slightly bet
/ ter class of foreign news, the market re-
+! acted and finally closed quiet and barely
/ steady at / to points net decline for the
| day The port receipts continued light
:; and the Mississippi river was alleged to
| have flooded more land in the Memphis
! district and along the Arkansas banks,
| but neither these features or further
! alusion to the alleged great strength
! of the statistical position of the staple
/ influenced any outside demand. Adj
vices from the South are as generally
/ bullish as those sent out of the local COM
; mission houses, but they are biased be-
! cause the parties are generally long
1! of the market or hold some cotton and
want to see it go up SO they can sell
/. out
i STOCKS.
The feature of to-day's stock market
/! was the continued buying in the Van
| derbilt shares and granger stocks by
! the large moneyed interests for invest
ment purposes and the development of
| strength and activity in the stocks which
! have not participated in the recent ad-
vance and been overlooked in the buying
| movement. Chicago Gas, Rock Island,
/ Southern Railway preferred. Atchison,
were the noteworthy features in this con-
| neetion. They all responded and add
| vanced quite sharply to the buying into
+, them, which was of a very good class
and by substantial interests. Sugar was
| also a very strong feature and advanced
/ 2 per cent on purchases of 1900 shares
! by one house. In the last hour reports
of the dissolution of the syndicate which
underworld the Reading reorganization
plan were circulated by the bears, and
| the coal stocks were raided on them. A
| selling movement was simultaneously
+. inaugurated in Omaha, Spirits and Su-
f, gar, and general selling movement
ensued, which unsettled the market. We
/, regard the selling movement as the best
thing that could have happened to the
| market, and barring any unfavorable
developments in the Cretan situation, we
! think all the better class of stocks should
be bought again ON any further conces-
sions.
| f. B. CUTHBERT & co.
NEW YORk.
| New YORK, March 1s.-Futures opened
| steady at the advance; sales .3OO bales.
Futures closed quiet and steady: sales TO-
+, 400 bales.