The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-01
Closed Vary Steady at . TO {
Points Advance.
OND MARKET DEPRESSED
THE ACTIVE RAILWAY SIOCNo
SCORE A LOSS.
COVE RNMENrs WE'RE ACTIVE
Wheat Closed Flrm at an Advance OF
ia For May and SO For july
Corn, Oats and Provisions Also
Made Slight Gains.
Made Slight Gains.

New York, Aprll oo.-L He So''on A."A
ket opened steady with near positlons
3I5 points lower and distant months
| point lower to / point higher OF general
selling by traders. Later the market
rallied on some moderate foreign buying
orders. The market ruled firm In the
afternoon and recovered all OF the CITY
loss ON covering of shorts, following good
bnying orders from the South. The close
was very steady at net advance OF
to 8 points.
E, B. CUTHBERT & cos LHTTER.
New York. April 3O.-(SpeciaD-Wheat
showed frmer undertone to-day unael
the bullish influence of a better cash and
export demand and continued hot and dry
weather doing damage to the crop. III
California. The trading was only moder-
ately active, but the market presented Il
sssold-out'' appearance and it readily re-
sponded to the demand from shorts ana
renewed buying by some of the larger
operators here and at Chicago. Ihere
was the usual realizing on the advance,
,nsnecially in the late trading, but rplces
only receded slightly and closed hrm at
q no. advance of IA to rs cents. Corn
and oats were dull and neglected, out
closed steady at about last nights prices.
Cotton was very feverish and irregular
and uncertain to-day, with trading small
or in volume and largely local. The Llv-
erpool advices were disappointing, show
ING spot sales there reduced to lO,OOU
bales and futures quiet and easier, anu
closing 1-G4d. lower. The market opened
. to 4 points lower in consequence, anu
after a slight hesitation. rallied on re-
newed buying and advanced to poliits
above last nights closing before the end
of the first half hour. This rise brought
out a flood Of realizing sales, and IN the
absence of outside support, the market
deyeloped weakness and declined TO une
basis of to Z points below last mgnt
closing quotations and ruled dun at the
decline until shortly after | o'clock. lie
newed buying for both long and snort ac
counts then set in on firmer and higher
Soutbern spot markets, and an advance
in quotations here to ~. The South and
Liverpool sent some buying orders and
their execution. with manipulation in near
months. led to a continually firmer and
higher market in the late trading, prices
advancing and closing firm at about the
hest quotations as a net advance of TO
6-points on this crop, and 2 to points on
the next crop months. The total sales
were 142,9O0 bales.
STOCKS.
The stock market to-day was dull and
irregular. with a declining tendency
throughout the list from the start on the
apathy of the foreigners, continued alb
sence of outside business and the large
engagements of gold for shipment to Eu-
rope. These gold exports. and the ex-
IRENE dullness, created a bearish senti-
ment and led to general liquidation and
some short sales. Prices gradually de-
clined under the pressure and the ma
iority of stocks sold off "a to ! per cent.
Coalers were especially weak. In the late
trading the sterling exchange developed
weakness and cable rates broke Ac. to
about SASS. This is clearly below the
: gold exporting point, and it had the effect
Of stimulating a general rally in the stock
market, prices closing Il to " above the
worst Of the majority of the more active
stocks, principally the industrials. The
general condition surrounding the market
and the outlook for the future remain
the same as outlined in our weekly stock
market letter of yesterday.
Z. B. CUnHBERT & co.
NEW YORk.
NEW York, April 30-Futures opened
steady; sales6,80 bales.
Futures closed very steady: sales $4,000