The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-22
DRY GOODS.

New York, Aug. 21.-The dry goods
market closes with firm, steady condi-
tons prevailing. The demand for both
cotton and wooden goods has shaded off
a trife towards the close of the week, but
in the opinion of important sellers as
strong as ever and a large week is eX-
pected to open on Monday. In staple
cOttOns there is still firm market for
brown and bleachtd goods with talk of
possible further advances. The export
trade has been light during the week.
Coarse colored cOttons are in excellent
shape Prints are in very fair demand.
Wooden goods have maintained their
strong position during the week. The
print cloth market is firm at 25s cents,
with sellers not any too anxious to part
with goods.
e. B. CUTHBERT & co.'s LETTER.
New York, Aug. 21.-[Special.) Got
ton was firmer to-day and closed steady
at the top prices, with the final quota
tons showing an advance of thirteen
points on August and 6 to Z points for
the rest of the list from yesterday S
prices. With everything going up ex-
cept cotton, and no particular reason ex-
cept speculative short selling for the
decline yesterday and the day before,
local traders were inclined to take the
bull side and buy for a turn. They
were stimulated in doing so by continued
heavy rains in the Atlantic and Gulf
States, the movement Of the crop for
the week turning out about only half
of last years arrivals. The total sales
were $4,000 bales. Spot cotton was
steady and unchanged at rs cents for
middling.
The stock market to-day continued ir-
regular and unsettled, with trading mix
ed ON the uncertainty of the crop situa-
tion. The reiteration of reports of
damage to spring wheat in Minnesota
and the Dakotas, and frost damage to
corn, encouraged the bears to make u
fresh attack upon the market. They
singled out the Changers, which they
hammered vigorously, and under the
pressure of their offerings the general
list weakened and sold off u to 1 point
under the lead of Burlington and st.
Paul. In the late trading, there was
good bull support and, on covering of
shorts, active buying by brokers repre-
senting the leading bulls, the market
turned frmer and recovered all the ear
ly loss and closed firm. There was only
one moderately active stock, with sales
aggregating 169,1O0 shares. The out
look is for an irregular, fuctuating
market until something more definite
is known in regard to the extent of the
damage to spring wheat. Pending the
development of this information, the
market will be largely in control of
the room 1ers.
In the Chicago market, September
wheat which closed last night at SO
cents, opened at 90, and after selling
down to 9615 ON realizing, advanced to
one dollar per bushel fifteen minutes be-
fore the close of the market. The final
quotation was 991b. December option
there sold at 1914, and May at one dol
lar. The continued advance was in Eu-
rope, following the publication in the
newspapers of the estimated reduction
in the condition of our spring wheat crop
| by private parties, regarded as reliable,
| equivalent to twenty per cent from last
months condition, fOreshadowing to-
| tai yield Of both spring and winter
wheat between 475,O00,00 and 100000
| 900 bushels instead of 550,000,000 bush
| els which was generally accepted last
week as a conservative estimate of the
probable yield. In the Liverpool mar
ket spot wheat closed GID. to I'd. high
er and futures Sd to I'D above yesterday s
final prices. The general sentiment of
the trading is bullish on the general
| situation abroad, and the crop damage
in the West. There is talk of a corn
err in the Chicago market in September
wheat, but we cannot confirm it. Corn
was strong and active and advanced 3
cents on reports of frost in the West and
| in sympathy with the advance in wheat.
e. B. CUTHBERT & co.
NEW YORM.
NEW YORK, August 2l.-Futures opened
steady at the advance; sales $500 bales.
Futures closed very steady; sales $4,000
bales.