The news & observer., 1897-02-06
Fluctuations in Cotton TX
tremely Narrow.
THE LExoW COMMITTEE
CASTS A SHADOW UPON THE
STOCK EXCHANGE.
NO CHANGE IN WHEAT.
It Gained Some During the Day, But
a4 Closed al Abou, thursdays Price
Corn, Oats and Provis-
sions Some Lower.

New York. Feb. 5.-Thc extreme
apathy prevailing in the cotton market
is indicated by the exceptionally small
tctal transactions in future deliveries on
Change to-day IS, 200 bales. Fluctua-
tions have also been extremely narrow
a matter Of points on the more active
positions with scarcely any variations on
the others. Opening at n decline OF one
point TO an advance of two points, the
market had weak undertone through
cut and closed with prices finally two
points higher to one point lower rs COM
pared with yesterdays closing figures.
Selling was checked by the firmness of
spot cotton in Southern markets as well
as at New York, where offerings have
been scant and demand from American
spinners and exporters fairly brisk.
Il. b. CUTHBERT & CO.'S LETTER.
New York, Feb. 5.-(Special,) Cotton
showed no change to-day, the total sales
being but $500 bales, with the ex-
treme fluctuations confined within the
narrow range OF , to points from last
nights closing quotations, with the tinai
prices for the day remaining practically
unchanged. The movement of the crop
for the week was light all around, but it
failed TO stimulate any new business,
the apathy of the foreign markets, with
futures there to-day practically un-
changed and spots quiet, with sales of
5000 bales. together with the utter alb
seace OF any outside speculative demand,
and the large interest in March, which
must be either transferred or hquidated
before notice-day, operated against the
market and fully offset the influence of
the ghter movement and everything
else Of d bulliSh nature that could be ad-
yanced in favor of the market. There
is no Indication of break in the present
deadlock. and we expect it will continue
until the March option Of the way and
more definite idea can be obtained IN re-
gard to the amount of cotton in the in
terror that is yet to come forward.
WHEAT.
Wheat continued feverish and irregular
and unsettled to-day. The Liverpool ad-
vices. showing that prices opened there
3-4d higher, shut turned easier and We're
only "a net advance by the time the mar
ket opened were very disappointing in
view OF our good rally of yesterday and
firm closing, and as a consequence There
was d general rush to sell, which led to
(
at the start. The crowd got heavily over
sold on the break, and a partial confrmE
ton Of Yesterdays bullish French crop
report precipitated a subsequent sharp
advance of / to 1as cents, to the basis
Of T612 for the May option in Chicago.
The covering movement was accelerated
by indications of a decrease of 1,000,0 900
bushels in the visible supply on Monday
and manipulation from st. Louis. As
soon as the shorts covered, however,
closed dull and heavy.
STOCKS.
This was another day Of bear raids in
the stock market, with the selling directed
chiefly against the industrials and the
garngers, based on the Inauguration OF
the investigation into the trusts methods
of doing business by the States Senate
investigation committee and rumors OF
serious trouble among the joint traffic
association of railroads in consequence
of rate cutting in the West. The mar
ket developed q weak undertone under
the pressure, and there was at one time
considerable liquidation by local operators
intimidated by the aggressive tactics OF
the bears and their recent success IL
brining about lower prices. The hquida
it the selling pressure ceased. In the
afternoon the shorts tried to recover tht
stocks they had sold, and as the offer
ings We're light the market rallied and
with the exception Of sugar and a few
| other specialties, recovered nearly all the
losses sustained in the early trading. The
failure of the investigation into the
sugar trusts affairs, which is the frst
trust under investigation, to disclose any
unfavorable features stimulated the mar
ket In the last hour and impaired q
steadier undertone On the whole, this
volume of business was only moderate
| The transactions in sugar constituted
nearly one4third of the business for the
| day.
Il. B. CUTHBERT & 90.
NEW YORk.
| NEW YORK. February 5.-Futures opened