The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-28
NO SUPPORT FROM BULLS
ABSENCE OF AGGRESSIVE SUI
PORT CAUSED LIQUIDATION.
STOCK MARKET STRONGER AND HIGHER
On Good Commission Buying and Liberal
Purchases by Bull Interest Rock Island at
8e-.London Markets firmer and
Higher--Cotton Was Dull.

Higher--Cotton Was Dull.
New York. Aug. 27.-The bear faction
had things pretty much their own way
to-day in the cotton market. Gables IN
.dicated sluggish market for futures at
Liverpool, while crop accounts were gem
orally sized up as bearish and crop estl-
mates had an expanding tendency that
proportionately increased the courage
of the shorts and led to considerable
business in the way of putting out addl-
tional lines on the bear side of the ac-
count. There was disposition TO lg-
more the somewhat conflicting character
of crop reports from Atlantic sections
and the Gulf States, the average OF
which was less favorable. The market
opened easy at a decline of 400 points,
further declined 206 points on the more
active position, or 5@7 points from
that of prices of the morning top. But
at best the market was 300 points I'M
der Yesterdays closing except for Au-
gust. which at best showed an advance
of FIVE points, and September, which
reached 7.37, last nights closing figure.
In the afternoon the market was weak
and unsettled, for the most part, closing
easy with August points higher and
other months 6@10.
DRY GOODS.
New York. Aug. 27.-The dry goods
market shows no signs of weakening
and the month now drawing to a close
is pronounced by both first hand dealers
and jobbers TO be eminently satisfactory
both as to the amount of goods sold and
the manner in which prices have been adj
vanced and sustained. With jobbers the
policy has been one of repression, prices
being held down as low as possible in
order to fasten the trade which kept
coming to the city and which manifested
a disposition to take goods in fair guam
titles. if reasonable prices prevailed.
Staple cottons at first hands continue
strong to-day, various advances being
announced and made quietly to bring
about confirmation with the market
at large Brown goods are in steady de-
mand for domestic consumption. though
the export trade is no heavier than was
the case a week ago. Wide sheetings are
well sustained, buyers in some cases be-
ing willing to take goods at advanced
prices. Bleached cottons are strong
with buying of fair proportions register
ed both on mail order and in store trad
ing. Print cloths are well sustained.
There is no further bidding for futures
at 11-16 cents while in extras, spots,
the bids at 25s are persistently refused
nv the manufacturers. Prints are very
firm and the demand continues well sus-
tanned. Ginghams show a general ad-
vance of -, several other lines having
fallen into position behind the Amos
keag. Woolens and worsted goods are
selling freely. In the latter there is
marked movement with the high prices
prevailing in all wooden lines.
E. B. CUTHBERT & CO.'S. LETTER.
New York, Aug. Observation-Disclosures
took n sharp tumble to-day losing good
deal more than it regained yesterday.
Prices at Chicago opened 67s cents lower
for September at 90, at 37s lower for De-
cember, at 80, while prices here IN this
market opened cents lower for Sep
TENDER at 90 and cents lower for De-
cember at 90. This was on break OF
u franc in wheat futures at Paris and
/ franc in -four and ID in wheat futures
in Liverpool From these prices there
was a natural sharp rally of / to l12
cents here and IA for December and
cents for September in the Chicago mar
ket. This was followed by renewed
liquidation on the absence of aggressive
bull support from the clique and the |
falling-off in outside business and the |
failure of the outside market to rally. |
Prices declined again and closed irregu- |
lar and unsettled within 1 cent of the |
lowest for September in Chicago and rs |
for December. The foreign houses were
liberal sellers all day of contracts. The
northwest receipts were 327 cars against |
1853 last week and ga last year.
Corn was steadier on continued good
demand and outside buying, |
with the assistance of some bad crop re- |
ports.
STOCKS.
The stock market was stronger and |
higher to-day, on good commission buying |
and liberal purchases by the bull inter-
ests in the Granger stocks and the low
priced Southern and Southwestern |
shares. These stocks led the list in point
of activity and strength, and all of them
scored handsome advances under the lead
Of Rock Island, which crossed SO, the
highest price for years. There were no
important new developments outside of
firmer and higher London markets. st.
Paul. July earnings net increase S12S,-
974.
COTTON.
Cotton was dull and easier owing to
more favorable weather conditions in
South and disappointing Liverpool ad-
vices, spot cotton there declining 1-32d
with sales of only 5000 bales and futures
closing 3 to 4 do lower. These two
factors and the subsistence Of aggres-
sive bull support which has been in evil
dence for several days, influenced general
realizing and renewed selling by bear
traders. The market opened easy and
declined to 8 points, rallied and recov-
cred most of this later, but only to ease
off again in the afternoon and decline to
Tho carly low level at ahout which basis