The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-03-14
ON BETTER CABLE NEWS
LEADING TO COVERING AND
MODERATE BUYING.
THE FIRMNEss WAS INCREASED
BY Reports Of Drought in Texas and
Excessive Moisture at Other Points
--Close Was Quiet and Steady
2 to 5 Points Up.

on better class of cable news than mad
been looked for, leading to covering ana
moderate investment buying. The firm
ness was increased by reports of drought
in Texas and excessive moisture at other
points. Trading was quite local, although
commission houses say their mail and
dispatches show increased interest on
the part OF the speculative public. Fol
lowing the first call there was partial
reaction under realizing. The class was
quiet and steady at an advance of 2d3
points.
z. +. CUTHBERT & CO.'S. LETTER.
New York, March 13.-(SpeciaD Got
ton remained extremely duh to-day, the
total sales aggregating only $1,000 bales.
,Ehere was no speculative feeling what
ever, the slight Improvement in prices
! was influenced by Liverpool responding
little more than had been expected 20
our rally of late yesterday, spot cotton
advancing 1-32d. and futures 1-64. Out
side OF the wet weather in the South and
overfows of the Mississippi river into
the Gulf States delaying farm work, the
general situation was unchanged. Trade
was dull ait Providence and Fall River
/
the arket. The receipts at all the ports
the coming week will approximate TO-
900 to $4,000 bales. Mondays receipts
New Orleans point to 1000 TO $500 bales
and Houston ZOO bales.
STOCKS.
The stock market developed further
strength and activity to-day than had
been generally expected. In fact, the
speculation broadened considerably, and
the general undertone OF the market was
distinctly strong, with the only selling
pressure coming from local traders who
were inclined to realize profits on previous
purchases. The Vanderbilts shares con-
tinued the strong features of the mar
ket, but they did not monopolize SO much
of the interest of the traders as they
did yesterday and day before. The buy
ing was on both speculative and invest
ment account, and it was noticeable that
the commission houses were the most
prominent buyers. There was also a
good demand for railroad bonds, and
quite q large business was transacted in
them during the session at frmer and
higher prices. The returns from the
business centres and mercantile agencies
were more favorable and this, together
with continued cheap money and absence
Of bad news helped the market The
weak feature of the market was the t.
s. Rubber Trust Company, wnicn de-
clined IA per cent, On continued liquida-
tion on less favorable trade returns due
TO competition.
WHEAT
Wheat developed unexpected strength
to-day, notwithstanding continued lower
Liverpool markets and closed firm at IL
cent net advance for May and / cent
for July option. Liyerpool's decline Of
II to u in futures was especially dis
couraging, but ii was offset by the pub
lication Of the Illinois State agricultural
Bureaus report, which stated that many
heavy injury reports has been coming
in in the winter wheat section, killing
the plant equivalent to SO per cent of the
acreage of last fall when i 400 acres
was sown. The blizzard in the North
west kept the receipts down to 100 cars,
and this together with Argentine ship
ments for the week aggregating only
$4,000 bushels of set the influence OF
the light cash and export demand, and
the light clearanees. The shorts be-
came nervous and covered, large portion
of their interest, and this buying, together
with some purchases by traders, who
unloaded on the break yesterday, absorb
ed all the offerings and accelerated the
improvement. We look for good active,
traders market next week, with sharp
and frequent fluctuations in prices. Visi-
BILE on Monday Will decrease about ], 000,-
900 bushels.
r. b. CUTHBERT & co
NEW YORh.
Evw your March IQ-FutI1ras opauad