The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-14
Cotton Family Fluctuates on
Current Shallow RumoTs.
CLOSED QUIET AND STEADY
Tone Of Stocks Was in the
Main Strong.
SMART INQUIRY FOR BONDS
Demand for Prime investments in Elk
cess of Amount Offered Wheat
Had Another Weak Day With
a Heavy Sag.


New York, Jan. 13.--News at hand
from England this morning when our
market opened was decidedly unsatlsfac-
tory. 1t was expected that the cables
would show an advance Of 30l1 points at
Liverpool in view of the strength de-
veloped here yesterday afternoon. Instead
Of that, however, the early cables showed
an advance of only 102 points. At the
same time the news from some Of the
New England cotton mills was unsatis-
factory The first call showed a decline
of 416 points and was followed by a
further decline OF 20I3 points, with local
liquidation a feature. Cables that fol-
lowed the opening were first very weak
but finally showed net gain Of 1aG11
point Mt Liverpool and cur market re-
covered the loss During the afternoon
the market ruled inactive and featureless
with the local contingent IN control. The
close was quiet and steady Mt net UNI
changed to points decline.
n. II. CUTHBRRT & CO.'S LETTER.
New York, Jan Special THE
stock market started off firm and fairly
active this morning, with a cheerful
feeling ewing to London making a full
response to our Improvement Of yesterday
and some small neW buying by commits
sion houses. The bullish room traders
impaired strength to the market and
prices advanced - to q for the more
active stocks under the lead Of Burling-
ton and Sugar. London's purchases were
small, however, and as the buying power
Of the commission houses and traders was
soon exhausted, the market relapsed into
dullness, and shortly after the noon hour
e n j., f.s.N
The failure Of any favorable develop
rnents from the meeting of the officials OF
the Sugar trust precipitated liquidation
by the pool Of outsiders in that stock,
and its decline Of one per cent, together
with reports Of rate cutting inthe West
to move the large accumulation of corn
and oats along some OF the roads, in
iuenced genral selling and withdrawal
of support Nearly all of the early inn
provements were lost and the market
closed quiet and irregular, with prices
unchanged to X and q net advance. The
action of the Arbuckles in applying for the
appointment Of receiver Of the Sugar
Trust is now on in earnest.
Cotton ruled dull and devoid Of special
feature throughout the session. There
was adecline of six to seven points in
the early trading. owing to disappointing
advices from Liverpool. But this was
recovered on support by traders, infu
enced by comparatively light receipts and
there was an advance established OF / TO
2 points over last nights closing. In the
last hour, notwithstanding the fact that
the port receipts Appropriated 20.500
bales, against 2f,927 last week, 1902
last year and 27,SS1 in 1895, while the
exports were 46s50S and New Orleans re-
ceipts tomorrow were estimated at s.
900, against 1862 last week and 11,060
vast year, and Houston $500, against
3,469 and 2,311, the market became easier
on absence OF business and closed dull
at to 3 points net decline from last
nights prices. The total sales for the
day were 100000 bales. There is no
depth whatever to the speculation. The
market is simply drifting along, with the
daily fluctuations influenced by the opera
tions of the board room traders, who are
trailing on tho daily news developments
in regard to tie coalition OF the Liver
pool market and the receipts.
Wheat had another weak day to-day,
and under general selling by tired holders
and disappointed bulls, influenced by the
late weaker foreign advices, foreign sell
ing. absence OF outside support and re-
ports Oh FdLe cutting IN the W est, prices
turned weak after opening up " and
steadily declined from S1A for May to
1924, with hardly and rally, and closed at
1874. There was steady stream of
long wheat on the market from commits
sion houses and, although twenty loads OF
wheat were taken here for export, the
market closed irregular at the decline.
Bear traders hammered the market and
their offerings, with stop orders and the
reported rate cutting, made the extreme
low prices. Bradstreet's available supply
statement showed decrease smaller
than had ben expected.
E. r. CUTHBERT & co.
NEW YORk.
Nav York, January 13.-Fualres opened