The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-07
ABOUT TIE SAME
Cotton Closed Steady at On-
changed TO Point Decline
DISAPPOINTING CABLES
THE UNDERGONE WAS WEAh
DJrRING THE FORENOON.
WHEAT CONTINUED UPWAhSO
And Closed With Gain OF 81 Genus
Corn Closed Unchanged, Cats
Gained I.8 Cent and Pro-
visions Made Small
DISAPPOINTING CABLES
WHEAT CONTINUED UPWARD
Advance.

Now York. May 6.-The cotton mar
ket after opening dull but steady at
noint decline to 1 point advance, ruled
weak for the most part, declining 213
noints after the first call with partial
,aIEes. The undertone was weak dur
inc the forenoon. The market closed
steady. however, at unchanged prices to
/ point net decline. Early cables were
disappointing and general conditions
were without anything new of the bull
ish purport. In the afternoon there was
a local squirt on renewed buying by the
Greeks, understood to be against con-
tinental sales.
f. B. CUTHBERT & CO.'S LETTER.
New York, May 6.-(Special.)-W Wheat
opened quiet and steady at about where
it left off last night, with a small trade.
but soon showed disposition to improve
on moderate buying by traders, stimula-
ted by reports of severe drought IN Aus
traEa announcement of the Ohio crop
report showing four points decline IN
condition during the month of April and
more rain needed in California to secure
even an average crop IN that section.
The Liverpool market for futures opened
I'D. higher, but subsequently advanced III
additional and closed firm at the ad-
vance, which together with thirty loads
of wheat taken for exports and reports
chinch bugs were doing damage to WIN
ter wheat in the West, combined 10
stimulate the market and produce more
activity in the trading. The result was
broadening and firmer market III Chl-
cage and closed firm at the advance
COTTON.
Was excessively dull to-day frorn the
start. The trading was entirely Of a
local professional character and the Hue
tuations were confined within the mar
row range Of to 4 points from last
nights closing prices. Prices declined
to this extent in the early trading on
moderate selling and absence of busi-
ness. but later recovered the loss on
small purchases in the last hour. The
weather was fine all over the South.
The Mississippi river showed further Inn
proyement. and cables reported spot cot
ton dull and easy at yesterdays prices.
with sales of 5000 bales while futures
closed dull and unchanged. Fall River
adviees show no signs of any improve
ment. and spot cotton here and at the
South was quiet and steady and un-
changed from yesterday and III slack
demand
STOCKS.
To-day's stock market was irregular
and unsettled, with sharp and frequent
fluctuations and mixed trading. The con-
tinuation of the selling movement in the
Gould stocks had a very depressing eff
feet upon the whole list during the first
hour. The introduction of resolution
in Congress to cancel the proposed al
yalorem duties on Sugar and adylces
that none of the members of the Finance
committee of the House approved the
alterations in the tariff bill, kept the
market dull and depressed. In the al
ternoon, trading in the market developed
better strength and activity on renewed
huving in New York Central, influenced
Inv the idea that active progress has
hean made here and abroad in the re-
funding scheme. and this rallied the
whole market The advance in Ten
nessee Coal and Iron was on settlement
of the labor troubles. The market
movement was influenced wholly by OPP
erations of room traders. It's recovery
was only natural reaction from the de-
cline ofyesterday.
TyTAOINSTAO
Il. j. CUTHBERT & co.
NEW YORh.