The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-15
THE MARKET CLOSED STRONG
REGAINING ALL LOSSES.
COTTON WEAK AND SOLD OFF SHARPLY
The Close Was Barely Steady at 10 to 10
Points Net Decline Wheat Firmer and
Higher, Recovering All Losses
Sustained Yesterday.
Sustained Yesterday,

|
at an advance of one point Following
| the first call the market recovered most
of the loss, but still later became very
weak and irregular. August, which
heretofore has been maintaining a strong
relation to the general list showed at
one time leading weakness and broke
| from 765 to 1856. During the latter part
| of the session the market was active,
chiefly owing to liquidation, the influence
being generally bearish, including dis
| appointing cables, generally glowing ac-
counts regarding the crop, continued in
difference on the part of outside specula-
tors and a tendency on the part OF
| Southern and foreign traders to send
sellers orders and increasing crop esti-
mates. Just before the close August
rallied on covering, but the market was
| finally barely steady with the net ad-
vance on August reduced to two points,
while the rest of the list showed a
net loss of 10 to IA points. Total sales
of futures reached only 81 100 bales.
DRY GOODS.
New York, Aug. 14.-The dry goods
market closes the week with great
strength, shown in first hand and job
| bling quarters. The week has been an
eminently satisfactory one Taken all i'll
| all it has beaten any record made since
| the summer of 80, and the month bids
fair to he likewise a banner era in the
| trade. Up to the close advances were
made in all staple cotton lines and furth-
err upward reaches are confidently eX-
pected The demand for prints, though
not so pronounced as the movement in
| bleached, brown and coarse cOttOns, has
still been of a noteworthy character.
| Wooden goods show a firm price record
and sellers and buyers are looking for
| ward to further advances. This has
| caused a very active demand for goods
| L. all grades, and the sales of the week
have been extremely satisfactory. Print
cloths are firm at 25s cents with belief
prevailing that they will advance still
more.
e. B. CUTHBERT & CO.'S. LETTER.
New York, Aug. 14-(SpeciaI-
ton developed weakness to-day and sold
off sharply on general selling for long ac-
count, but principally the former on the
Liverpool markets closing easy at 1920,
decline for spots and u to 1-64d decline
for futures and generally favorable crop
reports from everywhere except Texas.
more liberal scale, and next weeks move
ment was expected to be larger. This
combination of bearish factors offset the
good trade reports and the increased
strength in print cloths at Fall River
with the weekly sales approximating
100000 pieces, at an advance of Is cent
per yard in price to 25s cents, and also
/ the brisk business doing here in manu-
featured goods of all kinds and a furth-
er decrease of 100000 bales in the
worlds visible supply of cotton, bringing
the amount down to 1,161, S61 bales a
gainst 1886, 173 last year. Stop orders
were reached in large numbers on the
way down, and their execution made the
low prices. The close was barely steady
at 10 to 13 points net decline for the
new crop months, from last night. Au-
gust was exceptionally strong and closed
3 points higher. Total sales 81, 100
bales.
The stock market was irregular to-day
with the trading active for a Saturday
Ihalf-holiday. The market was adverse
ly affected at start by lower prices from
London, continued heavy arbitraga sell
ing and disquieting advices in regard to
India uprising, which were extensively
circulated by the bears and used by
them as a preteXt for hammering values.
The market opened irregular with gem
eral losses of q to 1 point throughout
the list. One of the features was sale Of
over 10000 shares of tobacco by one
house, causing u decline in the stock of
l2H points. The market was full of stop
orders. but these were all cleaned up
and the selling pressure subsidized before
the end of the first hour. After that the
market slowly recovered, regaining all
the early losses and finally closed strong
at fractional net advances. The senti-
ment was bullish at the close, on the re-
newed advance in wheat, increased rail-
road earnings and further material ex-
pansiOn in business as reflected in the
bank clearings and increase in loans here
of over $5,G00,000 during the week..
Wheat was firmer and higher to-day
and recovered all the losses they sustain
ed in yesterdays liquidation movement.
The foreign markets only made a moder-
ate response to our decline of yesterday
and this fact, together with the exports
for the week from both coasts of the
United States aggregated 4,460.519 bush
els together with Paris cables report
ing that the French duty on wheat euui-
valent to 36 cents per busheI has been
removed, were the buIlish factors which
led to the advance. The French duty
reports could not be confirmed, but they
nevertheless had the effect of strengthen
ing the market. There was not much
pressure to sell during the day, in fact
there was more disposition to buy. Con-
tinental houses operated rather freely on
this side of the market, but English
houses continued good sellers. There
were no acceptances of wheat reported,
and there was very little foreign bust
ness done probably about 10 to Is trades
at the outside ineluding here and at the
outpOrtS.
d. B. CUTHBERT & co.
NEW YORA.
NEW YORK. August FIXTURES opened