The news & observer., 1897-04-30
VERY LITTLE CHANGE
Cotton Closed Steady 8 Poinrs
Up to 4 Down.
STOCKS WE'RE VERY DULL
THE BOND MARKET RULED FIRM
ON MODERATE DEALINGS.
WHEAT PLAYS CONTORTiONIST
Cuts All Kinds of Antics, Fret zing ara
Boilirg Alternately, Finally Closing
IA Cert Hi&aer.-Corn and
Oats Lost, While Provis-
ions Gained.
cKS WE'RE VERY DULL
WHEAT PLAYS CoNTORTiONIsT
ions Gained.

New York, April 29.-1ne specuiatlNc
energy in cotton seems to have supsldeu
TO some extent at least for the present.
There was some investment TINS morning
on English and continental advices which
were quite as favorable as expected.
There was also some covering early in the
day and the forenoon features OF the mar
ket were fairly promising. AT the pest
nrices the market showed an advance OF
601O points on yesterdays closing hg-
ures. The early Improvement was sum
ulated hy unite a number of private wires
Indicating late planting and partial re-
suits for the new crop. AT the same
time spot cotton advices from Southern
markets were favorab bic and Fall River
accounts fairly so. The new crop months
developed special strength during the
morning. During the afternoon the mar
ket was easier liquidation, but there was
no particular pressure to sell at any time.
The market closed quiet and steady at
net advance of elk points to a net de-
cline of points.
f. r. CUTHBERT & CO.'S LETTER.
New York. April 29.-Cotton-The
trading in cotton was less active to-day
and the market showed more
hesitation and conservatiyeness ali
around In response to spot sales
of $4,000 bales at Liverpool and
an advance of 2-64d in futures, our
market opened firm and avanced D to
points for the more active options. There
was active covering by belated shorts
and eleventh hour bulls and a good deal
of manipulation from Liverpool and local
interetss but the advance of oO points
since week ago Monday induced heavy
general liquidation and the market de-
veloped an easier undertone and declined
to the basis of l to g points from last
nights closing before noon, with the
rext crop options the most responsive to
the selling movement. In the afternoon.
there was desperate effort to close the
market at the highest quotations. but the
advance brought out renewed general
heavy liuuidati0n and prices again re-
eeded and closed at a net advance of but
/ to . points. compared with last nights
close. The Southern spot markets Were
firmer and higher
Wheat was nervous all day and
fiuctuated within range of cents from
last nights close The Liverpool cables
were better than expected. and this
with more rain in the northwest delay
ing farming operations and seeding of
spring wheat and the rather bullish tenor
of the Cincinnati Price Currents sum
mary. led to the afternoon rally from the
low po:nt. which was reached soon after
the first half hours business. In the
late trading the market reacted sharply
OH renewed liquidation. The tone at the
close was irregular and unsettled. EX-
port business was but $4,000 bushels of
wheat and $4,000 corn Of corn.
STOCKS.
The speculation in the stock market to-
day continued dull with the business
confined principally to the local traders.
Il was a spotty. irregular market Aside
frcm coal stocks, which developed re-
new ed weakness, on renewed hqWda-
ton on continued bad trade conditions and
| n fall of cent in Western Union on re-
newed discussion of possible reduction
| in its dividend rate and break of "a per
cent in Tobacco, followed later by IA rise
| of IL points. and an improvement of 1as
| in Chicago Gas, i'll anticipation of the
| passage Of the consolidated gaslbill by the
| Illinois Legislature, the fluctuations were
| confined within narrow limits. The for
| eign news was apathetic and houses with
London connection. aside from buying n
little st. Paul and Louisville were not
| in evidence. The foreign exchange mar
| ket developed frmer undertone, and
81 100000 more gold was engaged for
shipment to Austria thus covering pre-
diction that S3,000,O00 gold would go out
| this week. How much more gold will be
| shipped depends upon the demand for gold
in the T,O1On and continental markets.
e. b. CUTHBERT & co.
NEW YORk.
NEW YORK, April s9.-Futures opened
firm: sales II 81 bales.
Futures closed quiet and steady: sales 1872
800 bales.