The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-02-16
The Market Closed Firm ar l
to IA Poin1s Rise.
STOCKS ALSO IMPROVE
A LARGER VOLUME OF BUSINESS
THAN FOR MANY DAYS
GRAIN AND PROVISIONS TOO
Wheat Advanced 2, Corn IL, Oats
a, and Provisions 10 TO 25
Cents. Affairs in Europe
rausad e.
Caused It,

Caused ft
New York. Feb. 1.-THE cotton market
showed a much better undertone to-day
and during the morning session prices
advanced 10 to l. points. The strength
was due to higher Liverpool, continued
activity and firmness in the print cloth
at Fall River. There was also large
buying orders from New Orleans and
Liverpool The market eased off slightly,
but advanced and became firm with fore
casts of O small movement at the ports
and interior. causing an active demand
to cover and some investment buying.
The close was firm at a net advance OF
11M14 points.
Il. BI CUTHBERT & CO.'S LETTER.
New York. Feb 5-(SpeciaD for
eign war news ard the course of the for
eign securities on the Bourses at Lon
don, Paris, Vienna and Berlin, dominated
the stock market here to-day. In SYM
pathy with the Generalization at London
and Paris, as reported IN the early ad-
vices, the market opened excited and IT.
regular under general selling by traders,
and prices declined to IS per cent. Con
trary to general expectation, there was
not much outside pressure to sell, and as
later cables reported that the European
powers had agreed to intervene between
Greco and TurSy and prevent a conflict
the market rallied sharply in the after
noon and closed firm, with most of the
early losses entirely recovered. The
buying in Sugar and the Changers was
especially good to-day and the shorts i'm
Tennessee Coal and Leather preferred
found difficulty in obtaining new stock
when they tried to cover. There was
nothing new brought out in the inyestiga-
ton of the Sugar Trust by the committee
M TO the time the market closed. The
general sentiment was quieter and
rather better in the final dealings on the
late private and press cables, all OF which
seemed to indicate that there will be no
war between Turkey and Greece.
Cotton rallied to-day and recovered all
but a few points Of prices lost on the
break Saturday. Better markets at
Liverpool than had been expected, with
futures there closing 3-64d higher and
to-day's light port receipts and the better
aspect of the Turkish situation, eontr-
buted to the advance. Combined these
futures restricted further selling opera
lions for the decline and led TO general
covering of shorts and some new buying
for long account. At the close the mar
ket was Ibid up by bulls III order to in
fluence Liverpool tomorrow as favorable
as. possible. We regard the rally as simply
a natural reaction from the extreme de-
preston of the kast week. Spot cotton
rules steady at z cents for middling. The
Southern markets were quiet and easy
and 1-16 to II below Friday nights final
quotations. The fettal sales of all options
for the day were $4,000 bales. The
market closed firm in tone, at II to II
points net advance over Saturdays final
prices.
Wheat fuctuated sharply to-day, Gov
ering a range of / to ~ cents, but finally
left OH firm within %s of the highest and
13s to rs net advance over Saturday s
close. The market was stimulated by a
decrease of over / 100000 bushels in our
visible supply for the week, a decrease
OF 375, 900 bushels in the English visible
and worlds shipments for the week OF
but J, 900 bushels, against 100000
last week and less favorable reports from
Paris in regard to the French winter
wheat crop. There was better export de-
mand. and this with the taking OF thirty
loads here for export, also helped the adj
vance The action OF the foreign markets.
especially Liverpool, where the specula-
ton was tame, did not reflect any un-
easiaess over the war scare. Foreign
houses were buyers early here, but later
turned sellers on the advance.
H. II. CUTHBEIlT 81 co.