The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-07
SMALL AND NARROW
Tells the Tale Of the Cottoh
Market esterday.
TRADING WAS SPASMOOiC
nEALINGS WERE IN A RAN'h
OF TO POINTS.
CABLES WE'RE DISAPPOINTING
liverpool Fought in Small Way Only
market Closed Steady with
Prices Point Highcrto
Point Lower
TRADING WAS SPASMOO'N
CABLES WE'RE DISAPPOINTING

Naw York. April G.-To-day''s cotton
market was small and narrow, the en-
tire dealings being within a range OF 1
tn points. Trading was spasmodic,
with room operators chiefly in evidence.
Liverpool bought in small way during
the first fifteen minutes and again just
before the close. On the call the market
was steady 1d3 points lower. under dis
amounting Liverpool cables, advanced to
last nights prices on short covering,
eassed off again under estimates of
free port movement and rallied just be-
fore the close on active buying by the
huu contingent The market closed
steady with prices 1 point higher to 1
point lower.
f. B. CUTHBERT & CO.'S LETTER.
New York, April Especial Cotton
relapsed into extreme dullness to-day,
and as is usual with all dull markets, a
slightly easier ilndertOne developed.
The foreign advices were of a very dis
appointing nature, reporting sharp fat
ing off in the consumptive demand at
Liverpool for spot cotton. with sales
there for the day of only 5000 bales and
futures 1-64d. to 2-64d. lower. Spot cot
ton here was easier and declined l-l6 to
7& for middling on sales of 36o bales.
There was not bit of snap to the mar
ket, and with clearing weather in the
South and a falling off in the Mississippi
River, there would be nothing left for the
bulls to bull the market on. In less than
two weeks time the liquidation Of May
option viii begin in earnest. There is a
very large outstanding long interest in
May contracts, which must sooner or
later iQuidate.
: Wheat developed further and extreme
weakness to-day under continued free
liauidation and general withdrawal Of
bull support, owing to the fact that it
was election day in Chicago. the Board
of Trade was closed, consequently the
local market was made the dumping
ground for the Westerners as well as the
foreigners. and it was unable to with
stand the pressure. The Chicago mar
ket was weak on the curb but no Of
fetal business could be transacted there
on account of the holiday The st. Louis
market was closed also. No export bust
ness was transacted here in wheat, but
10000 bushels was worked for export
here
To-day's Stock Market was very
the hands of the professional scalping
contingent and board room traders. The
scalping contingent were more inclined to
take their profits rather than put out
fresh lines of shorts and their buying,
together with some support in the Grang-
ers and Vanderbilts, from the bullish
traders led to Il steady and slightly bet
ter. market. The tone at the close was
quiet and irregular, but generally firm,
influenced by the absence of bad news
from Greece and the Chicago
election passing off quietly. The
Industrial stocks were again heavy.
notably, tobacco. leather and SUI
gar on absence of support. The coalers
continued irregular and unsettled and
fuctuated sharply, though within narrow
limits. Jersey Central was sold down
on the introduction of a resolution in the
Pennsylvania Senate to investigate the
accounts and reports of the Lehigh and
Wilkesbarre Coal Company, the allied
coal producing company of the New Jer-
sey Central. The resolution was referred
to the Corporation committee Delaware
and Hudson held comparatively steady,
but Lackawanna for the first time de
veloped weakness on increased sales.
London houses did very little business
here, although the markets at London
were all better on cheap money. Com
mission houses had some small buying
orders in the Changers, but sold the coal
ers and the industrials.
10. Il. CUTHBERT e co.
NEW YORh