The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-01

Il POINTS NET ADVANCE
Umpire cedented Exports and
Short Covering Helped.
FALL RIVER PASSES DIVIDENDS
Wheat Dull But Steadier--Stocks Al
most Stagnant in the ace OF
the Holiday and Lack of
Outside Support.
Outside Support

/ New York. Dec. 31-The cotton mar
! ket opened quiet and featureiess WIuh III
tile interest developing unjll some ume
after the start, when Prices strengthened
on covering on contracts Tor the TWO
DAYS holiday Better LdyoFpool adylces
and reports of stronger spot markets
south likewise brought in considerable
buving. Advices from FaM RIVER OF
possible concessions IN print cloths tend
cd to check trading to some extent IN
the afternoon the enormous exports for
the day, footing up 10000 bales about
THE largest exports for a single day ever
reported, disturbed shorts and led to con-
siderable outside buying, although the
volume Of trade for the day was moder-
ate, amounting to only 100, zoo babes The
chose was firm at net advance Of 12d15
points
Z. b. CUTHBERT & CO.'S LETTER.
New York. Dee. 81 SPECIALIZATION
developed frmer tone to-day on com
paratively light receipts, better Liverpool
cables, large exports and continued ABB
sence of selling pressure Prices show
ed advancing tendency from the start
and closed firm at net advance OF II to
13 points over last nights quotations,
after total sales of 100, 700 bales. Port
receipts. including 5000 mt Port Royal
approximate 81 900 against 1910 last
week. and Is, 524 last year. To-mor-
rows receipts at New Orleans are esti-
mated at 5000 to 1000, against 1O,I09
last week, 9,076 last year. Houston
$500 TO 1000, against 1851 and 4,20S.
The exports were the heaviest on record
for the year. aggregating 9S,761. This
Inter failure helued the market very
materially in the afternoon, although
most Of the business was covering of
shorts. A number OF manufactures at
Fall River and Boston passed their div
idends. but this news was offset by the
foregoing features. The markets here
and ut Liverpool and New Orleans will
be closed until Monday.
STOCKS.
New York, Dec. 31--To-day's stock
market showed no new features Of spe-
cial importance Speculation was almost
at a sfandstill as far as legitimate COM
mission business was concerned. There
were no new important news develop
ments calculated TO induce traders to
increase their interest one way or the
other, and the bulk of the operations,
which were entirely of a professional
character, were confined TO evening up
accounts over the new year The covering
movement in the industries subsidized, and
Tobacco and Sugar receded sharply from
Yesterdays high level There was not
much support to the market outside OF
Chicago Gas, ez-hissI ysr~ rr,r1nirrarlafed b-
the Flower interests, and the general
list declined fractionally under realizing
in the absence of business. Delaware
and Hudson developed further weakness
on agitation Of the dividend question. No
action was taken at the conference Of the
directors of the company yesterday. They
will meet again on January 6, and def
nitely decide the dividend for the year.
The nearing Of the suit to enjoin the pay
ment of the dividend by the Manhattan
Railway Company, due on Saturday,
came up before Judge Truax, who refus-
ed to grant the injunction. On this the
stock advanced points but later lost 1t
on renewed liquidation. The break in
Leather was due to a bear raid and
liquidation by timid holders on the an
nouncement OF the sudden death Of Mr.
Mark Hoyt, the president OF the com
pany. The close of the market was dull
and showed no decided tendency in either
direction.
WHEAT.
New York, Dec. 81 Wheat was dull but
steadier to-day, although trading was
light and Of holiday character Prices
opened II lower, but recovered this and
closed steady at a net gain Of 8sc. over
last nights close, with May in Chicago
S314 Liquidation yesterday was thor
ough and large clearances together with
light receipts in the Northwest and better
financial conditions led to covering and a
little new buying, and the market closed
with a better feeling prevailing all round.
Corn and oats were dull and neglected.
NEW YORh.
NEW YoRK, December 3i.-Futures opened
quiet: sales $500 bales.
Futures closed firm. sales iu6 IUU bales.