The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-16
STILL ON The DECLINE
Cotton Closed Quiet at a Loss
Of 2 TO 5 Points.
STOCKS VERY SPIRITED
London Still Buying Our Stocks
and Bonds.
WHEAT WAS RATHER F'cKLY
Oats, Corn and Provisions Also vNobbR
Weakness Entirely Sentimental
Corn and Oats OFF 3-S and
Provisions S to II I-2.

New York, Jan. l5.-1Iihe cotton mar-
ket opened steady at 102 points decline
on near and 1@2 points advance on late
months, further advanced 4@5 points on
better late cables and covering, led by
New Orleans and Liverpool buying or
ders. The market was also stimulated by
more encourag ing reports from Fall Riv-
er indicating firm and active demand
for print cloths. The market, however,
eased off under local pressure In absence
Of outside support and closed quiet &C q
net decEae 4of i2a5 points.
Il. r. CUTHRERT., & cos LETTER.
New York, Jan 15.-(SpeciaD--Th
stock market to-day developed more ac-
tivity and strength than il has exhibited
at any time subsequent to the date the
gGameron Cuban independence resolutions
were favorably reported by the commit
tee on Foreign Affairs. Several impor.
.tant Developments combined to stimulate
the market. In the first place, the Lon
don cables reported decidedly easier
nsQney rates there. firmer market, and
they brought liberal buying orders i'll St
Paul, Louisville . Reading, Southern Rail-
way, 4Atchison and Missouri Pacific.
This of itself, WAS sufficient togencourage
the bulls and Influence renewed buying,
but it remained FOR the announcement of
our trades. statement for December and
for the calendar year to awaken the
Street to the bulish conditions iii our
trade situation. As was the case yes
terday, the Industrials, notably Sugar,
Chicago Gas and Tennessee Coal and
Iron, led the list in point of activity and
strength. Sugar Advanced 13s to i.14M,
Chicago Gas rs to T63s. and Tennessee
Coal and Iron III. The buying in Sugar
was chiefly covering of shorts, with some
manipulation by the insiders. The Gran
gers and general railway list advanced
uniformly "a to ] per cent. There was
the realizing on the advance by the longs,
but the market showed it's strength by
absorbing all the offerings and closing
firm. The course Of the market was very
gratiNyin to the bull interests, and,
barring further unfayorable develop.
ments at Washington, we think the i'm
provement win continue.
Cotton was dull to-day aud featureless.
The general tendency of the market was
towards a gradual lower range Of prices
from the start. The Liverpool markets
We're disappointing, inasmuch as they
failed to respond to our advances. Ca
bles reported spot cotton there unehang
ed, while futures were duIl and closed
but u point higher. There was an at
tempt to- bid up prices Immediately after
the opening call and quotations were adj
vaneed to I'll for March, and 7.25 for
May, but the speculation was not strong
enough to maintain the Improvement in
the face Of the heavy New Orleans re-
ceipts tomorrow, which is estimated at
10000 bales, against 6,365 last week,
and 5,54S last year. The total sales OF all
options for the day. we're l05, 400 bales.
The total port receipts Tor the weeksap-
proximated 10000 bales against .165,-
900 bales last week. $4,000 last year.
The amount brought. into sight for the
week points to 165.000 bales, against
13z,000'l last year. and 21e,OO0 in 1895.
g# +. p. CUTHBERT & CO.