The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-09
WOOLENS AND SUGAR
DRY WEATHER IN TEAAs, AR
KANSAS AND OKLAHOMA.
INFLUENCED THE COTTON MARKET
Wheat and Corn Markets Will be Dominated
by Future Weather Reports The
Bond Market Displayed
Hardening Tendency
Hardening Tendency

hardening teiluetCy
New York. July THE cotton mar
ket opened steady Near months ON the
first call showed loss of i to points,
while the new crop positions were un-
changed at points higher.
During the forenoon there was some
nressure under the New Orlear 5 aiid the
Liverpool selling orders. Following the
FIRST call there was an advance OF TO
10 points. On the rise there was con-
siderable done on outside investment or
ders. as well as covering of the local
short accounts on reports of too much
dry. hot weather These reports came
largely from Texas and Arkansas, and
narticularly from the former State.
Some realizing followed the weather bull
letins' indications of possible showers
along the Gulf Coast on north Texas and
North and South Carolina.
During the afternoon our market was
unite nervous. alternately firm and weak,
and finally steady at a net advance OF
5 points TO a net decline of one point
E.. B. CUTHBERT & CO.'S. LETTER.
New York, July S.-(Special)-Cotton
showed a very firm undertone throughout
the session to-day with moderate vol
ume of business. The Liverpool! advlces
were very favorab bic, cables reporting
SPOT cotton there firm and in good de-
mand with sales of $4,000 bales, at 4,
7-32d for middling, while the market
for futures opened steady at 1-e4d TO
2-64d advance and closed firm at the
best prices Sod to 4-64d over last
nights prices In addition to this. the
drought in Texas continued unrelieved
the weather Bureau reporting contln-
ned hot and dry weather throughout
that State and in Arkansas, Tennessee,
Oklahoma, and Indian Territory. The
only rainfall reported last night was
light scattered showers in the Gulf and
Atlantic States. The temperature was
100 to 1O2 degrees in Central Texas. In
addition to the good spot demand at
LIVERPOOL. cotton was firm here and at
all the principal Southern points and hard
TO buy. The market opened quiet at
last nights prices, but soon afterward
developed strength and activity on the
above bullish features and advanced D
TO 10 points. Liverpool and New Or
leans bought quite freely and there was
better class commission business.
The market was sold at the close by
bears, on predictions of possible showers
in Northwestern Texas tomorrow. Inc
tone at the close was steady with total
sales of 114,8OO bales.
Wheat showed a continuance OF the
firm undertone which characterized the
trading yesterday. Prices advanced l
cent in the early trading, with fairly ac-
tive trading but later receded and lost
all the Improvement in the late months
on realizing and better crop accounts, to-
pether with falling off in the export
business by reason of the fact that prices
had got out of line Of exporters views
and rather above the limit. However,
10 to IL loads Of wheat were engaged
and about % loads Of corn and 2S5,OOO
bushels Of oats. Wheat was also de-
pressed in sympathy with corn, which
reacted quite sharply on heavy realizing
sales on private reports of good rains
in Kansas and Nebraska. Both corn
and wheat closed irregular in tone ex-
cept the July option for the latter, which
closed higher owing to apprehension OF
squeeze Of the shorts. Both are
weaker markets and will continue to bt
dominated in the main by the future
weather conditions and crop reports.
The stock market started off firm
and moderately active and higher this
morning, in sympathy with better Lon
don advices and the passage of the tar
if bill in the Senate last night. The
Improvement however, was soon checked
by reports from Washington that the
Sugar, wooden and revenue tax SEIZED
ules would be debated upon at length and
probably lead to a delay in the fina
passage Of the tariff bill. The reports
were to the effect that the Dingley Su-
gar schedule would be insisted upor
by the House conferees and the Presi
dent was compelled to postpone sending
in his message on the currency ques
ton in order to facilitate the adoption
of the tariff bill and not to detract at
tention from it. This led to general pro
fit-taking sales and renewed aggressive
operations for the decline by the beal
element. The market closed irregular
and unsettled at declines extending from
"a to ~ per cent.
e. b. CUTHBERT & co.
NEW YORA.
Nrv Ynpv Irlv 0-TufurQa 0nanad