The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-08
LIVERPOOL CLOSED
And So Traders Were Slow to
Play With Cotton.
STAPLE FIRM BUT DULL
STOCKS ONLY MODERATEL1
ACTIVE FROM START.
WESTERN UNION DIVIDEND
Chicago Grain Market Closed on NC-
count of Holiday. and Trading was
Light and Small and Narrow
and Featureless.
WESTERN UNION O'v'Oe"0
and Featureless.

New York June 1.-W lth Cne LlFefpooi
cotton market closed since Friday the To-
cal cotton market was inactive and feat
ureless throughout the session. The
market opened dull but firm at nominal
advance of 2d4 points, according to bids
brought out on the first call. No business
was done on the first call until Deem
Der was reached, and then but 100 bales
December changed hands at CTS This
constituted the ntire trading on the call.
Up to II noon, sales had reached only
5000 bales and for the entire session but
14,SOO bales. The market closed dull but
steady at net advance of 2G4 points.
E. B. CUTHBERT & CO.'S LETTER.
New York, June Observation-Disclosures
The Chicago grain market was closed to-
day, owing to the holiday there on &C
count of it being election day and this
fact, together with the absbence of news
from Liverpool, owing to the market there
continuing closed in consequence of the
continued observance of the Whltsuntde
holidays, left the traders here almost COM
pletely in the dark in regard to outside
sentiment. and as a consequence, the trad
ing was light and the market small and
narrow and featureless. There was no
cash business reported and the weekly
visible supply statement usually an
nounced at noon was postponed until to-
morrow. The total clearances from the
principal ports were 329,6S0 bushels of
wheat and 31S,239 corn. The immediate
ao,,rco of x-a1.,ac will 1onapI IN
tent upon the weather conditions during
the next few days.
Cotton was extremely dull to-day, the
total sales being only 1880 bales. The
dullness was due to a general disinclina-
ton of traders to operate with the Liver
pool market closed and the Chronicles
acreage report and the government crop
report pending. The less favorite crop
news printed in the newspapers alleging
the destruction of the Texas cotton crop
by Mexican weeyils was made the basis
of firm opening by the bull traders and
prices advanced TO to points for the
near months and to points for the next
crop options which was held up to the
close despite the dullness. There was not
much pressure to sell, which fact greatly
helped the market. The port receipts
were nominal, only 7S5 bales against 2
O5S last week and $50 last year. Spot
cotton was dull and unchanged at yester-
days decline, with middling quoted at
z 11-16 The total sales were $40 bales,
with 1000 delivered on contract. The
weather map showed rain throughout
Kansas, but generally clear weather else
where. The temperature was warm and
Seasonable.
STOCKS.
To-day's stock market was very irregu-
lar, with trading moderately active but
very much mixed and rather uncertain
from the start 1t was made so by the
continued unreasonable weather condi-
lions in the west and northwest, with ap-
prehension of damage to the crops, espe-
cially to corn, from killing frosts and
freezing weather in Michigan, Minnesota,
North Dakota and Wisconsin. The
leaders Of the Changers shares were no
doubt justified in becoming alarmed at
these unusual weather conditions and as
soon as the market opened many began
to liauidate their interests. The absence
of any London adyices or quotations,
added to the irregularlity and uncertainty
and under the pressure of the offerings,
the Changers declined / per cent. As the
selling pressure was almost entirely in
these stocks, the rest Of the market was
hardly effected Later, the selling pres
sure ceased, while general buying move
ment developed in the rest of the list.
Manhattan's adavnce was on buying by
insiders and we heard reports of better
earnings and statements that the suit In
stituted on allegations that the company
was paying unearned dividends, will not
be prosecuted by the railroad commission
ers. The Western Union directors will
meet to take action on the company's di-
yidend tomorrow, and we understand
that as the company can show it has earn
ed more than the dividend of per cent
for the quarter, this dividend will be
recommended by the directors.
Il. b. CUTBERT & co.
NEW YORA.
New YORK, June 7.-Futures opened
dull but firm; sales 100 bales.