The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-21
STOCKS WE'RE FEveR'SH
OPERATORS EAGER ~ bo /
WHAT THEY SOLD MONDAY.
wusAr WAS NOT SO RAMPANT
a. on Monday and Lost D Gem ~ .
Result Of a Less Strained ree'-
ing Regarding the EURO
pean War.


+..dv of the lowest figures of the day.
A. tho start a generally better feeling
rrova;led. owing to the comparatively
soI,,neas with which business was re-
.umnd in the London and Continental
markets. Some of the foreign houses
who sold heavily during the first hours
Yesterday, turned up as buyers at the
opening, and prices advanced GOT points.
The foreigners did not stay in the mar
ket long, and as there was no outside de-
mand Of consequence, prices receded four
points. In the afternoon rumors OF more
war-Iike conditions in Europe led to re-
newed selling and prices continued 10 de-
crease to the close. Reports OF a bad
break in the levees in Louisiana had httie
or no effect.
e r. CUTHBERT & CO.'S LETTER.
New York, April 2O.-(SpeciaD-Whe heat
continued very irregular and unsettieu
to-day, with heavy trading, attendea ps
sharp and frequent fluctuations IN PRICES.
The early Liverpool cables reported an
advance of 21sd in spot wheat there from
thursdays prices and 3A to I'D. in fu'
.tures. As the latter was only equivalent
70 41SM4% cents per bushel here anu
wheat closed SIS to 51a cents net advance
over Thursdays prices. and yesterday 8
top figures showed an advance OF Sas TO
cents per bushel, these prices were ma
turally a disappointment. They were
taken to mean that less apprehension
was felt abroad. The decline OF rs IN
consols reflected the general sentiment IN
rhe English and Continental markets
that the war would be confined to
Greece and Turkey and would be of short
duration. AS consequence. there was
general scramble among the bulls and
BUYERS of yesterday and Saturday to I'M
load as soon as the market opened. Inc
selling pressure led to a weak and ex'
cited opening with prices about 2 cents
per bushel below last nights closing, on
the basis of 70 for May in Chicago.
From this point, there was further de-
cline Of 723s on late Liverpool cables re-
porting a decline Of IL to ID. in wheat
futures in Liverpool and heavy selling
for foreign account. The offerings were
very heavy, but all the Chicago operators
who sold out on the bulge yesterday
morning and went short. reversed thel"
position and took everything that was
offered The existing speculative interest
seems to be pretty well balanced, and as
the trading becomes more normal the ie-
Ultimate conditions Immediately sur
rounding the market should be the domi-
mating influence upon prices.
Cotton opened firm and prices advanced
!. 5 to Z points in the first half hour, In
sympathy with the improvement in the
stock market. The bulls tried to carry
the improvement forward but the buy
Ing power subsidized and later the market
reacted, as all the news from the South
was against it. Spot cotton was mod
srately offered at the South, and prices
declined 1-16 and u. The sales report
ed were small at the principal interior
towns and shipping points, and the crop
news was favorable. while exports were
light. Liverpool markets continued clos
ed. but will open for business tomorrow.
Spot COTTON here was quiet and easier at
Z b-18 for middling. The general condt-
tions and outlook remain unchanged from
previous advices, and our opinion u the
market will continue small and narrow,
with sagging tendency. We see nothing
IN the situation at present to bull it on.
Contrary to general expectations enter
tanned yesterday, business was resumed
:. In the London and Continental markets
with comparative calm. Gables reported
. general heavy selling pressure at the
start with prices materially lower, but
nothing like a panic developed in any OF
the markets, owing to the belief being
general that the war would be confined
20 Turkey and Greece and would he Of
short duration. English cOnsols declined
only M0% and French rontes but As
centimes from Thursdays final quota
tons. This plainly showed that there
was less apprehension felt abroad in re
gard to the outcome Of the war than
was felt here yesterday, and it was
further evidenced by all the foreign Sc
curity markets recovering sharply in the
late trading from the heavy early losses.
Our market opened active and buoyant,
with prices generally one per cent higher.
Louisville was exceptionally strong and
in good demand and opened up 2 per
cent The foreigners turned up as good
buyers Of all the international stocks and
under the impetus of this demand and
general covering by local traders at
prices advanced later to still higher fig.
ures averaging generally ~ to 2 per cent.
IL turned out that some OF the recent
heavy selling by houses who usually do
0 foreign business was for the account
Of some Of the leading bears with the
view of giving more weight to their
sames and making it appear as though
the foreign selling Of Saturday and yes
terday was more important than it really
was. When these traders tried to re-
cover the stocks to-day, they utilized
strange brokers. who gave up the names
Of the foreign houses but not until late
In the day.
e. B. CUTHBERT & co.
NEW YORk.
NEW YORK, april s0.-Futures opened
hrm: sales 100 ba es.
Futures cioscd steady; sales t3ON balas