The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-22
WHEAT ADVANCES 2C'
STOCK MARKET HAS CHANGED
VERY LITTLE.
THOUGH THERE IS SOME ADVANCE
Lead Advanced 2 Per Cent and the Various
Stocks on the Market Received
Their Due Share Of
Attention.

Attention.
New York, July 21.-The cotton mar
ket opened steady at 1@3 points decline.
Subsequently the market was irregular
with, in the main, downward move
ment. at the weakest interval showing
net loss of 6011 points. The close was
auiet at a net decline of 509 points. To
tai sales of futures, 81 300 bales. The
nrincipal cause of the dechne was Au-
gust selling, which, despite the buying
of two prominent houses here, led the de-
cline throughout the session. Crop ac-
counts had a bearish average, indicating
light rains in Texas, copious rains In the
Atlantic section and showers to steady
rains in Arkansas. Trading was chiefly
local.
e. B. CUTHBERT & CO.'S. LETTER.
New York, July 21.-(Special)-Cotton
reacted to-day and lost all of yester-
days Improvement on liquidation and
selling by local operators and Liverpool
and the South and closed quiet with the
final prices about the lowest showing
net decline Of 9 points for August and
6 to Z for the rest of the list from yes
terday's closing. In the Liverpool mar
kets spot cotton advanced 1-32d to lid
for middling, with sales of 10000 but
futures nftar opening partially 1S4d
highe., rea cted and closed quiet at 1-64d
net decline. There was no rain reported
IN Texas but good rains occurred else
where throughout the cotton belt and
these features in the absence of support
led to a liquidating market in which
selling by tired holders and old bulls
was the feature. Spot cotton here was
easy in sympathy and prices were re-
duced 1-16 to 1916 for middling. The
total spot sales reported were 1,525 bales
OF which 1925 were for home consump-
ton and 200 for export. The total port
receipts were 225 bales and the exports
7S9 bales.
Wheat was stronger and active to-day
with a broad speculation and very bull
ish sentiment. At the opening there was
a rush to sell on a break in the Liver
pool market, but later cables came firmer
and higher and the market Immediately
hardened and steadily advanced up to
the close. Over 100000 bushels of wheat
were engaged for export at the out
ports, with loads here and Is loads of
corn and 225,OO0 of oats. Heavy buying
by foreign houses and covering of shorts
and continued light receipts of new
wheat were the bullish features which
accelerated the advance. Prices in this
market advanced over 8 cents for Sep
TENDER and December while at Chicago,
prices advanced 2 to 2lh cents ON top of
yesterdays quotations. Free realizing
sales at the close caused reaction OF
u to 5s from the top quotations, but the
UNDERGONE continued good with the SEN
timent bullish on the export business
and foreign demand. Corn and oats
and provisions ruled dull and in the
main neglected all the interest centering
in wheat. The total sales of wheat fu-
cures in this market were 100000 bush
els.
Bnllish sentiment continued in evil
dence in Wall street to-day and it was
reflected in continued strong security
market for the general railroad list and
the better class Of industrials. London
houses continued good sellers to secure
profits and the leading operators contin-
ued their policy of realizing especially
in Sugar, but sufficient new business de-
veloped to keep the undertone OF the
rest Of the market strong and prevent
any apprehension Of break. This new
speculative buying was especially no
ticeable in Missouri Pacific and Il. G. l.,
and American Spirits, Lead, and Read
ing securities. Lead advanced 2 per
cent under its influence, X. T., PREFER
ed, 15s, T. G. l., 1B and Spirits q to
1 per cent. @. b. and O., advanced q
and r. l., IN and st. Paul ~ on renew
ed buying, encouraged, no doubt, by the
continued advance i'm Wheat making
the outlook more favorable for these
stocks. Chicago Gas was also very
strong feature and advanced 2N per
cent to 9Sss on inside buying Reports
were current that the consolidation Of
the company will be proceeded with and
perfected before the announcement Of
the next dividend which is due in Au-
gust. Sugar opened up strong and ad-
vanced ~ per cent, but lost it ON con-
tinued heavy realizing sales by the Keene
following and closed at a net decline Of
point for the day at 1.43A. Leather
preferred and Susquehanna and West
ern preferred also lost a point on realiz-
ing and renewed liquidation. In Con-
solidated Gas caused that stock to drop
per cent to 1.641a. All the outside
news was favorable.
3 per cent to 1.641h. All the outside
e. B. CUTHBERT & co.
NEW YORA.
NEW YORK. July N.-Futures opened
steady at the decline; sales 1900 bales,
Futures closed quiet and steady; sales 81, 300
bales.
Opening. Closing
July ......................."" 7B 739
I
september .................. 721 III
october .................. -. 707 703
november ...............".. Oh 697
December. ACKNOWLEDGEMENTS. 702 90
January ACKNOWLEDGEMENTS. M