The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-03
Receipts Less and Exports
Greater Than Last Year
no BUSINESS YESTERDAY
Slip Shod Stock Stories Offset
One Another.
THE TONE WAS DULL AND FIRM
Inquiries from Argentina Gently Flushed
the Grain Market--May Advanced
to 85 Cents on Nervous Shorts
and Some Outside Buying.

+. b. CUTHBERT N CO , LEVI j LIZ
New York, Jan. 2-Profesional trad
ers supported the stock market to-day
in the belief that if prices were holsted
the public would come and buy next
week and revive speculation. During
the two hours the Exchange was open
for business the total sales reached only
56,715 shares, nearly 70 per cent. of
which was transacted by the room trad
ers, and operations by various firms on
speculation in the absence Of outside
business. The continued advance of
wheat. together with late cables from
London reporting a break in the money
stringency there, with the private rate
of discount down per cent to 2%, and
the expectation that the heavy January
disbursements that will be reinvested,
made the feeling more cheerful. A large
number of failures and dissolutions, in
Guiding the suspension of an Omaha
bank having deposits Of 81 100000, were
reported, but they were Offset by the
above features. and failed to have much
influence. The bank statement was
without effect. Prices gradually hard
ened from the start and closed firm,
showing net gains Of half to 1 per cent.
in the general list, with the. latter in SUI
gar. Chicago Gas Rock Island, and >
per cent. in General Electric, which was
stimulated OH prospects Of increased bus
mess for the company and settlement
Of back dividends on the prefrred stock.
The tone at the close was dull and firm
GRAIN.
Wheat was fairly active and stronger
to-day on bullish reports from Argentina
and apprehension Of a severe freeze in
the winter wheat States following the re-
cent mild and rainy weather
Shorts were nervous, and their buying,
together with outside purchases and u
good foreign demand, led. to a steady
advance to IS cents for the May option
in Chicago, which is the highest price
reached this eason. The Argentina ship
nents for the week were only 5000 bush
els, against $4,000 last year.
Bradstreets reported exports Of wheat
and flour for the week equivalent to q
I07, 1893 from both coasts, compared with
2,111,000 last week. and 3,457 900 last
year.
The exports Of corn were 2,656, 1874
against 2,46S,000 last week, and 1882
600 last year The total exports Of wheat
from July 1st to date aggregate 81, 6S4,-
TAT bushels, against 5S, 4S4 1913 same time
last year. Exports of corn from January
LIST to date 122, ABS, 269 bushels, against
81, Dot, 262 last year. A large decrease
in the amount on passage for Europe
for the week is expected on Monday.
The advance brought out considerable
realizing sales, but all offerings were
readily absorbed and the market main
tanned its firm undertone and the closing
prices were within X of the highest,
with May in Chicago STB.
Corn was frmer and closed with a bet
ter undertone. We note better demand
is developing for this sterling article, and
we think that in view of the low prices
prevailing, it should be bought on soft
spots with wheat.
COTTON.
The movement of the crop of cotton for
the week up to Friday morning, shows
total port receipts were 219,222 bales,
against 277 ,615 last week and 176,324
last year. The exports were psi, $50
against DO, 800 and 100000. Interior
receipts 121 ,052, against 165,670 and IT.
OH. Came into sight 274, 235, against
332, 781, and 204, 759. Worlds visible
supply 4,444,731, against 4,418,975
last week and 4,793.920 last
year, of which American 1921 ,533,
against 3,862,775 and 1922, 720. The
total port stocks are 1924, 156, against
1,336,803 and ], 100,664. Interior stocks
578, 475, against 580,740 and 583,663.
The cotton market was closed to-day
and no business was done in cotton.
p. b. CUTHBERT & co.
RALEIGH COTTON MARKET.
RALEIGH, N. c., January2
Cotton selling to-day at 64G6A.
Market firm.
OTHER MARKETS.
Philadelphia, holiday, l53 bales.