The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-11-07

activity in that group has been limited.
All accounts indicate that the condition
or the trade during the present autumn
has been disappointing, and that abnor-
mally warm weather has resulted in an
accumulation Of stocks, which it may
take some time to work off
| While the market has thus been under
bearish influence, there are favorable
factors in sight, among which the first
place may be given to the increase Of
the shot interest. Trade reports are
good, and without experiencing any boom
either in prices or activity, general bust
ness seems to be in healthy condition.
The iron and steel industries through
out the country Ill particular have am
pie employment, and railroad tonnage is
upon scale which can only lead to
very favorable earnings during the COM
| ing winter. The appearance Of frosts in
the South and the partial raising of the
| guarantees must also have q good ef-
feet in the earnings Of railrods in that
section.
Cotton.-Further low records have
been made in the price of cotton this
week, and it is probale that the de-
cline would have been greater but for
the appearance of frosts in the South,
extending well into the Gulf States.
How far this will be effective in remov-
ing the business depression in that Sec
ton remains to be SEEN The cotton
market has not responded owing to UNI
satisfactory foreign advices, and, too,
the limited buying power that now ex-
lists in the market. 1t would seem that
on the decline the short interest has
been largely eliminated, and it is no.
ticed that for the past few days offerings
are readily absorbed This is certainly
an index to the position of the profess
sinai interests, but the public. in spite
| Of the manifestly low price of the sta
pie, has not yet shown a readiness to
come into the market.
Grain and Proysions.-Wheath has been
exceedingly nervous and irregular, and
the market at Chicago has been the OBJ
Ject of an enormous amount Of manipu-
lation. The wide fluctuations in prices
have been the result, to all appearances,
| of efforts by the clique to mark the
price down and buy on the declines. This
| has to some extent ohscured the real
| factor in the situation, which is heavy
and continuous export buying. and the
ample confirmation given to the worst
| accounts thus far of the crop condi-
tons and visible supplies in the old
World and the other producing conn
tries. However, rains are at last report
ed throughout the winter wheat region,
but though this menda the situation as
regards the next crop. it has little bear
ing upon prices for the present season,
and it is generally agreed that higher
prices will probably be reached.
Corn is virtually unchanged as to
price. Receipts have been very heavy
but this is offset by the excellent Euro
pean demand, which, indeed. does not
attract the attention It should. 1t may
also be remembered that corn has been
exceptionally steady in the face OF the
decline of wheat, which is a proof OF
the inherent bullishness Of the situation,
In coarse grains, oats have been more
or less feature, showing surprising
strength. Oats usually follow wheat,
but in this case the price has stood up
firmly, a fact which can only be attri-
buted to the large European demand and
the ready absorption of actual offerings.
In regard to provisions, the main fea-
ture is the large decrease in the stock
of lard. At the close of the week frosts
have appeared in Southern States. and
the probable speedy ending of the yell
low fever epidemic there must be re-
garded as decided bull point.