The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-17
THE KING IMPROVING
Cotton Opened Firm With
Prices 4 to 8 Points Up.
ENCOURAGING AOViCeo
ENCOURAGING
DECIDED ACTIVITY AT LIVER
POOL AND MANCHESTER.
GOOD NEWS FROM FALL RIVER
Favorable Reports From Cotton oe''
Check Buying and the Market Cios-
ed Quiet at Points Advance
to Points Decline.


to Points Decline.
New York. June 16.-Ihe COTTON mar
tet onened firm with prices higher py 40o
;,+s rrbera was a further advance OF
100 ,o;n+s with weak intervals under
foundations: but the market was geher-
DIV mucb frmer that it has been for
some time past, chiefly on the decided ac-
+;v;+v and strength developed at Liver
MOO, and Manchester. 1t has been some
months since Manchester spinners took
5000 bales in a single day, as tne! uiu
today. Private cables say that Ehsiish
SINNERS are we'll supplied with orders
and that the outlook is good except ~,
the high views of cotton hOluers. aii
River advices are also tirmer. heceh. III
dications of larger speculative ac'iN'y
materalized to some extent louay ahu
conservative buying on investment a"
count was a feature. Buying was cheeAeu
To a considerable extent by reports I'm
the cotton belt, which continue seherahs
favorable. The market III the ailerhoo"
was easier under selling TO secure pioA,s
outside support not maintaining f'sei.
The close was quiet at an advance u
noints TO n net decline OF Z polh.s'
r. B. CUTHBERT & CO.'S LETTER
Now York, June 16.-(SpeclaL)-
S+ooLs The feature of the stock market
+odav was continued realizing sales py
IocaI traders and commission houses.
rTho T ondon markets developed Irregular
- rar+Iv in consequence of the begin
meeting
- T,b;lea feeling. Some effort was
- hora 10 attribute the irregularlty
70 uneasiness over the probable Iorceu
,:,,;dat;on of the estate of Barney Bar
80 hut those rumors were quickly us
ia Nv orr nrivate cables from our
a,+ Of Paris and the assurance Oh the
nason+atives of the highest banking
bof,sa of France that there would De no
;,,rortant or hasty liquidation ana that
~ doath would have no important pear
;ra mon the market. The principal pres
- ao,o;nst the market came from re-
a4;on;Sts Among them were the leading
oro+ ors prominent in the buying move
80 last week. Having lost their STOCKS
- -oS only natural that they should en-
s,aror IN depress the market so as 10
anabIa them TO buy back as cheap as
,,oss;ble We think the reaction is the
host thing that could happen to the mar
1,at as Il win prevent it from getting INTO
On ovar-boucht condition and has ALREADY
ral;evad it of all the small. weak folioW
;ng On apy further decline, we thlhk
+ha batter class of railroad stocks ana
bonds will do to buy, as the situation re-
mains practlcany uhchans'u
previous advices.
Co.to, onened active and buoyant ana
.a1onced to Z points on spot sales at
T ;varnool increased to 10000 bales, win
r,r;cas 1-32d higher to AS for mlddhng,
ana futures opening firm at lAa TO
advance. The increased spot sales were
d,,a 70 the development of GOOD de-
mand for Egyptian cotton from Amerl-
CON SINNERS to anticipate the duty
adonted by the Senate against the I'M
,ortat;on of foreign cotton in tins couh-
trv which was made to protect the
growers of the island cotton, which COM
notes with the Egyptian and peruvian
rtan,es. A better trade at Manchester anu
tba advance of 1-16 in print cloths al
Fall River, helped to stimulate the I'M
,roved demand. There was good buying
Of contracts at the opening, but the de-
mand was supplied before the end OF the
fret half hours business by holders VINO
wore ANXIOUS to take profits. Easier late
Tivarnool cables, with futures there
closing quiet, at only 1-64 net advance
lad to an easier market and prices de-
cl;ned to the basis of to points below
last nights close. Spot cotton here was
advanced 1-16 in sympathy with early
Improvement in futures to the basis OF
ia cents.
Wheat ruled steady throughout the
early trading, with prices about last
nights closing, influenced by the failure
of the foreign market to respond to our
decline of yesterday, prices at Liverpool
closing unchanged to n higher. Thus,
for the time being offsetting the fine
growing weather all over the wheat belts
and more favorable crop reports. Buying
by traders and scalpers advanced prices
1bc on these closing cables, but the spec
ulation was not strong enough to hold
the improvement, and in the absence of
outside support and export engagements
of only FIVE loads, the market later
weakened and closed easy at rs net de-
cline for July and 3s for the next crop
options from last nights prices. 1t was
a small, narrow traders market, with no
decided tendency in either direction.
f. B. CUTHBERT & co.
NEW YORA.
Nrw YORK June l6-Futures opened