The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-25
CLOSE WAS IRREGULAR
STOCKS WERE UNSETTLED On
INDIAN TROUBLES.
THE LIST SOLD OFF BUT CLOSED STEADY
A Good Undertone to Cotton-'LNerpool Re-
sponded Well, But Reaizatons Marked
Down the Fgures--Close Was
Steady With Little Loss.
Steady With Little Loss.

Steady With Little Loss.
New York, Aug. 24.-The cotton mar
ket opened steady at an advance OF lc1
+ noints on an overnight accumulation OF
buying orders, but promptly reacted wltn-
ont causing much surprise on the part OF
the part of the local contingent IN vie"
of the sensational advance of yesterday
There was a good deal of long COTTON Ioa
sale and the pressure from tnls ecule
continued more or less prominent
throughout the session. Line opehIns - 60
yvara tho best of the session, except !of
August and were followed py d 'e0nl0
of Isaac points on the more actlNe Pc
tions with the market hnaly sleau' "
a net loss of 2@4 points except lor .Au
eust. which showed net advance u 70
noints. 1t appears that there Is prel'!
close corner in August contracts WIN
few prominent parties for the present III
n position TO dictate terms to the shor's'
DRY GOODS.
Now York, Aug. 24.-The dry goods
market presented no new FEATURES W
day. although the strong tone IS preFal-
ont throughout. The second or the
Merchants Association excursions nave
apain filed the jobbing stores with puy-
ers. who are making the month pahher
one in nearly all lines. In hrst hands
the market to-day has comparative Deeh
duIl AS mail orders are not so heavy on
Tuesday. and store trading is quite nght
a+ this time. The firm features or the
market are the strength of print cloths
and of staple prints, the latter more or
less direct result of the former In sta
nIe cottons the market is generally firm
and steady. Print cloths are very
strong. Bids for October extras at the
current quotation of 25s are steadily re-
fused, sellers being remarkably In their
position. Odd grades, however, are
trife less strong, and may be bought to
better advantage The sales so far,
while NOT strong. compare fayorably with
the early part Of late weeks. Prints are
generally firm. Wooden goods were firm
and unchanged.
WHEAT.
New York, Aug. 24.-The disaster
GUS results of operations by eleventh
hour bulls was demonstrated in the ac-
ton of the wheat market to-day. Fail
ing To secure the necessary assortment
of bull news these belated holders pune,
tured the bull bubble and prices fell
with a crash to a point over cents a
bushel below the top notch of the year
At the outset, although signs of col
lapse were manifest in the uncertain
wayering of prices and freedom of Of
ferings. the bull leaders endeavored tC
arrest the threatened deluge by point
ing out the comparative steadlness OF
Liverpool quotations and the frosty
weather conditions in the northwest
For a time these influences had some
effect but the market was Enthusiastically
top-heayy and soon broke through al
restraints, reaching the lowest figure IL
the early afternoon when December
after having opened at 1.OO12, sold a
-951a.
Foreign houses operated on both slde
but were chiefly conspicuous as sellers
led by the continent. A feature of tn
trading was the comparative heavl
ness of December, which widened out t.
30 cents discount under September a
one time during the day. French cable
were practically weak, closing at Y
centimes to one franc net decline il
wheat and 20 to 80 points lower OIL
-four. The Liverpool decline for the da.
was 80 to Az pence on future and oil
spot which quoted from l to advance
The days break shook out a great man.
of the weaker holders without disturb
ing the big lines, many of which still
remain for higher prices. In the earl.
afternoon selling was sharply arrested b.
talk of heavy export purchases, induced
by the dip in prices.
The news was followed by a quicl
rise of a cent a bushel, after whicl
values again yielded to the pressure o
long wheat which continued more or les
freely all the afternoon. Spring whea
reports were offset by reported enlarge
offerings of new wheat in the Southwest
The market closed unsettled at 5M t
OK cents net decline.
Sales for the day reached nearly sey
enteen millions. giving some idea o
the enormous dumping Of long whea'
Some Of the afternoon reports made eA
port purchases upwards of 60 loads a
New York and Outports, but this cOul
not be confirmed. The range on Septem
Der wheat was from 9715 to 104, clos
ing at 97%. December sold from 81
to 1O13s and closed at 93M cents. NJ
1 Northern New York and nominal
woth 1864 and No. 2 red 1929.
E.B. CUTHBERT & CO.'S LETTER
New York, Aug. 24-(Special.)-
Wheat developed further weakness tC
day on renewed general liquidation, il
fluenced by the weakness of the speculi
tive position of the market. In the re
cent advance the bulk of the short il
terest had been covered and its eliminf
ton, together with an accumulation {
large scattered weak outside intereS
and cessation Of foreign buying, hay
been the principal factors in weakenin
the market to-day, although Liverpoc
played an important part by breakin
I'd. additional after opening 2Hd. lowe
and Bradstreet's hepled it along by II
nnrfing an increase in the worlds visihl