The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-21
The Largest Export of Wheat
in Years.
SUGAR, LEAD, TOBACCo
All co UP IN ANTICIPATION VI
ppxrFITS FROM TARIFF.
THE BOND MARKET VERY LIVELY
The Stock in Corporations that Contributed
Largely to Hannas Campaign Fund Are
HeIped by the New Tariff Bill

Iu SS'J
Helped by the New Tariff Bill
New York, July 20-The cotton market
was confronted at the opening win us,
amounting cables. but advanced ~ =
points. while ruling quiet on Tue
Ill prsinass was at no time active
but the general tendency OF the MAJ Ae'
was inward on conflicting crop repoi' ''
some claiming that the IeXas clop "a'
safe and other that there was ua -
soe from drought, and hot "iIos tha'
.could not be repaired. Inc hlarhe' .lo
~ stoadv at a net advance OF 10 % Q
POINTS with total sales Limited u o.
900 bales. In the afternoon there was
unite a rally. The genel-ss hfnihess Ma as
loIned nv reports from the dry Soous
ne a. +na effect that large number
of big orders were in hand' con'inse en-
upon the final passage Vi .;m ne
tar;ff hill. At the same time
s,,;nnors in this country were securing
tho New York spot cotton market Iof
sunnl;es with which to keep the milis
whining Results were quite large III
low of the small offerings of grades re-
on;rad The sales reached 3,O11 bales.
n. b. CUTHBERT " CO. LEI En-
Now York. July 2O.-(Special.)-
cbowed n strong disposition to rallylng
+o-d,y The sentimental effect or tne
ain renorts in the South Atlantic ana
GuIf. and Mississippi Valley States, had
worn off and with the market down TO
hard nan ON the immediate supply ana
demand situation. selling operations Iof
tho decline were on restricted scale. III
fact there was rather more disposition
70 buy Crop accounts were rather con-
f,ict;ne. late Liverpool cables were pet
TOR than expected, and the weekly govern
ment crop report was not as goou as ai, ~
ticipated. All of which, together WIN
the continuance of the good demand LOT
cash cotton. influenced the market rather
fayorably and there was more good Grass
foreign local commission buying, While
at no time during the day was there any
great pressure to sell.
This was made day for general proht-
taxing sales by the big operators, espe-
-cialrv those who were prominent IN the
active buying and manipulation OF sugar
and the Changers and other speclalties
during the past few days. The market,
however, continued to show its strength
nv GENERALLY absorbing the offerings ana
pra ctically holding fast, the declines De-
ing only fractional and confined, as a
ruIe. TO 30 to 10 point from yesterday S
closing quotations. The continued FAVOR
able outlook for our crops. While the lot
eign crops are deteriorating, had very
stimulating effect upon sentiment ana
led to revival of active commission puy
ing for investment and speculative ac'
count. Sugar was opened up ia pei
cent to "a per cent, and rapidly ad
vanced from that basis to l.46A, whlie
the Changers and Coalers moved up frac
tionally. The advance was made the
basis of heavy proft-taking sales by Mi
James r. Keene and his following, ano
they sold sugar and the Changers al
day. London houses also turned up
quiet. though persistent sellers, selling
in all about 10000 shares. The shares
of the National Lead Company, enjoyed
sharp advance on good buying ano
manipulation by Mr.. Keene. The buy
ing is based on the more favorable out
look for the company to increase it,
earnings from the benefits derived from
the tariff, and the talk is dividends may
he resumed this fall on the common
stock.
Wheat showed continuance or tn'
strong and advancing tendency, whlcf
was the chief characteristic OF the mar
ket yesterday. The market wavered
little in the early trading, owing to thu
lack of outside business and reallzins
sales of local traders ON our favorable
crop outlook, but in the late trading al
excited heavy buying developed for botf
short and long account on the engage
ment of nearly 100000 bushels for export
here and 80 loads at the outports ano
rumors of 100000 at Chicago for near
by shipment. Prices moved up rapidly
and closed strong at the highest prices
We believe the market will work still
$ higher ON the foreign demand and supply
situation, and we think it should be
bought on all soft spots. Corn and oats
were dull and neglected all day. Provi
sion were frmer on covering of shorts
and some export inquiry.
NEW YORX.
NEW YORK. July 20.-Futures opened
steady: sales 1000 bales.
Futures closed steady; sales 5000 bales.
Opening. Closing
AuRust..... ........s.......'' Sd 70