The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-19
PARIS MADE THE PRICE
HEAVY EXPORT DEMAN EVEN
AT THE ADVANCE.
COTTON MADE NET GAIN OF IA POINTS
The White Staple Closed With Good Under
g tone Stocks Opened Lower But Were
Caught in the Wheat Bulge
and the Bulls Won.
and the Bulls Won.

New York, Aug. 1S.-The cotton mar
ket showed up in better shape to-da!
than for some time There have been
intervals Of old time activity ana eA-
element and plenty of talk or return
inc eneculation was heard. The market
onaned easy at an advance OF -1t
Limits unexpected favorable cables get
tiro the better of bearish crop accounts
in circulation before business commenc-
al Later cables were less satisfactory
and the early advance was mostly lost
Later. however, the market turned
charm corner on the appearance OF ac-
five support. notably by one house thaI
absorbed all the October contracts OF
fared and seemed TO have unlimited ouy-
inc orders all along the line. Shorts De-
COMO ac4iye buyers and prices advanced
S013 rnints from the lowest level Al
roor tho market showed a net gam or
9 Ia II points. In the afternoon the
market showed well sustained activity
and decided strength on general buying
following reports Of cold wave IN the
northwest and excessive rains IN the
Mississippi valley. New Orleans shorts
were active buyers and private adyices
from New Orleans indicate more posi-
five strength for that market than has
h4eu shown for some time. At the
strongest interval our market showed
net advance Of cali points and was
finally steady at a net advance Of 6d13
points.
WHEAT
New York, Aug. 1S.-High water mark
for the season was reached in the wheat
Ivv
as 10 volume Of transactions as well.
Prices advanced AZ 10 cents for the
day and sales reached the big total OF
1G.31J.O0D bushels.
Excitement prevailed in the market to-
day from start to finish, but particularly
IN the last hour. when the advances be-
came 80 rapid that frequently the fuc-
tuations we're marked by II cent frac-
tions instead Of II and 116 cent changes
that are ordinarily seen. \ lot of opera
tors who had been fighting the advance
all day were among the foremost buy
ers in the afternoon. The phenomenal
character Of the upward movement and
scarcity Of wheat for sale fairly stag
gered them. The demand was parucu-
larry active in the December option,
which from a discount Of 13s cent under
September at the start, narrowed the
difference to Is cent at the close. Total
range on September was from 91A cents
to 945s cents against 1925 cents, the
lowest price of yesterday and 921 cents,
the previous top notch for the season.
The advance began to-day with a sensa-
tional rise in Liverpool quotations this
morning instead of the weakness gen.
orally expected. This was followed up
by rumors of big jump in curb prices
at Paris that market being closed on
account of holiday. On top of these
factors was big demand from foreign
houses, reports that all of last nights
offers to the other side had been bought
in lots of buying orders, it being consid-
cred very bullish by the trade here, as
the weather is too cold and wet in many
sections for harvesting operations. Not
in years has there been such an extra
ordinary movement in wheat values as
took place to-day.
Even the old traders were amazed at
the stubborn advances while those who
have heretofore secuted the dollar
wheat theory were obliged to admit
that there was every prospect of Sep
rtember reaching that price on the mere
theory of supply and demand. The Of
fetal market closed at a net advance of
Az to 3 cents on wheat. On the curb
September sold from 943s cents down to
93% cents.
DRY GOODS.