The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-26
Wheat Turns from Its Weak
ness and Decentralization.
FOREIGNERS ARE BUYING
SALES YESTERDAY AMOUNTED
TO, 100000 BUSHELS.
COTTON WAS IRREGULAR YESTERDAY
Tendency in Stocks Was Downward and
Trading Was Repetition of tuesdays
Deals. General Closngs at IL to |
Per Cent Decline from Tuesday.
Per Cent Decline from Tuesday


Per Cent Decline from Tuesday.
New York, Aug 25.-The cotton mar
ket opened easy at decline of S'g1l
points, cables failing to give the support
looked for, while the average of crop
news was regarded as bearish although
more or less conflicting. Following the
first call, however, the market broke
465 points and ruled quite irregular
under more or less general and active
foundations. In the afternoon the mar
ket showed considera bic speculative ana
recuperative energy for time and pick
ed I'D some of the loss, but closed bare
" steady with September IL points high
,er and ether months 2@5 points lower.
WHEAT
New York, Aug 25.-There was a
nause in the downward movement of
wheat prices to-day and at the best point
of the session there was rise OF four
cent. a bushel from yesterdays close,
but this was still 31a cents under the
highest figure of the year on December.
The market started out with bulls In
control and spirited competition Tor
wheat between local shorts and CONT
mental houses. Prices ran up to 81 cents
on this bugle against 95A cents last
night, but on a succeeding cloud of sell
ing order in realizing and for short ac-
count, dipped to 96A cents. from which
it rose steadily reaching 1894 cents, in
the early afternoon on good all round
buying, led by Chicago. Local specu-
lation reused into pronounced activity
several times during the day, notably at
The opening, but as was the case yes
terday, there was little or no feverish-
ness or excitement in the pit. The big
bulls who engineered the recent advance
were all understood to have secured their
profits and vacated the market in favor
of the smaller operators, who while like
wise friendly to wheat, were afraid to
persist in aggressive actions. Gable
news was bearish with the single ex-
-ception of Liverpool. The publication
by a prominent American trade journal
of an estimated requirement of between
three and four hundred million bushels
by Europe this year, was a confirmation
of the most extreme bullish views on
'change. Near the close the market was
firmly sustained by rumors that exporters
had picked up something like 100000
bushels at New York and outports. To-
tai transactions to-day were upwards of
100000 bushels At the close No. /
northern New York was quoted nominal
~ 109A af1oat.
DRY GOODS.
New York, Aug. 25.-The dry goods
market was generally firm in all depart
ments, though the demand for staple
-cottons is less pronounced so far this
week, than was the case this time last
week
Wooden goods and dress goods of all
sorts are quite firm and in active demand.
The business passing in jobbing centers
is quite heavy, the presence of many
buyers keeping jobbers busy day by day.
In staple cottons there are no further
advances of note, and the demand is only
fairly sustained on brown and bleached
goods. There is however, less inclina-
ton to object to prices, shown by buyers,
and were it not for the exceedingly firm
position of sellers, trade would result.
Print cloths are very firm at Fall River.
The sales of $4,000 extras, at 23s cents
for September delivery have stimulated
bidders to come forward with renewed
requests for futures at that price, which
were steadily refused. Odd goods are
firm. Prints are very strong, with an
increased demand for fancies and low
grades staples. The expectation of adj
vances have stimulated business in these
lines.
e. B. CUTHBERT & co.'s. LETTER.
New York, Aug. 25.-(SpeciaD-Wheat
turned about abruptly to-day from its
weakness and Generalization of yester-
day and recovered all the loss prices they
sustained The foreign markets for fu-
lures were lower in sympathy with our
weakness yesterday, but it was noticea-
bic that although prices at Antwerp
closed 81 cents lower. the foreigners
were good buyers. Their engagements
vyere reported. between 80 and 40 loads.
II was this new foreign buying that was
the principal bullish factor when caused
4ba advance in prices and the sudden
-acnaot from q weak TO a strong market:
Prices opened IL to cents hlgher. Avn
Int IL 10 % of this was lost immedlate-
5v after opening on realizing sales. Inc
. offerings were all taken, and as the sell
ing pressure subsidized and the export que,
;ness hogan. the market hardened anu
rapidly advanced and the tone at the
close was firm at a net advance oA .
cents in Chicago above last nights cio .
To-day's stock market was repetition
Of the trading and fluctuations wnicn
obtained Yesterday. The tendency was
in tho main downward, with the tone Oh
the market irregular and heavy. Ihere
was a falling-off in commission busi-
ness, and on this and lower prices at
London, the bears resumed their nam
mering. Moderate support was rendered
by the bull interests, but not enough
to absorb the offerings. In special IN
stances advances were recorded, but
the general list sold off and closed ir-
regular at II TO ! per cent net decline
from yesterdays close.
Cotton was irregular to-day in sympa-
thy with decline at Liverpool These
advices lead to general selling and hqui-
dation of to 10 points at the opening
Ihs daclipa was accelerated by heavy
selling for New Orleans ana h iva go
account. The crowd sold OUT anu haf