The news & observer., 1897-01-24
A Day OF Small Things on the
Cotton Exchange.
STOCKS Dull AND LOWER
PRICES FOR THE WEEK HAS
STEADILY DECLINED.
WHEAT WAS CENT HIGHER
Grain and Provision MARKETS Very
Du.l-- Corn and Cars Closed at Fri
day's Figures Provisions Ad-
vance 2 i-2 10 sc.
vance z IL 10 &c.

N
snal things on the cotton exchange with
traaer.s disappointed at the character of
the Liverpool cables and also disposed to
sell following less favorable accounts
from Fall River as to the outlook for
print cloths and staple goods. Liquida-
tion followed and the market became de-
cidedly weak, at one time showing
loss OF FIVE to nine points on the remote
deliveries. local sentiment as inclined
to be bearish in the absence of speculative
support and the market closed at best,
only quiet and steady with prices finally
unchanged to 8 points lower as compar-
ed with the closing figures of the previ-
Gus day.
Il. b. CUTHBERT & cos LETTER
New York, Jan. 23.-(SpeciaD-Th
market continued feverish and irregular
to-day, and prices tluctuated toward Il
gradually lower level under the influence
OF continued aggressive operations OF the
bear party The foreigners continued
apathetic toward the market, and the
local commission business showed fur
ther contraction In addition to these
features. the generally admitted poor
condition of the coal trade, in eonse-
quence of the open winter, together with
continued poor railroad earnings, and the
rivival of jingoism in the Congress on
the arbitration treaty on the Cuban gues~
ton. were all in favor of the bears, and
they used them for all the arguments
were worth az n nretext for hammering
the market There was little support
forthcoming, and as the buying power
was not strong enough to absorb the Of
ferings, prices gradually reacted, under
the pressure, and the market closed ir-
regular at the decline The bear pres
sure was directd to-day principally
against Tobacco, which was sold down
from rs to 1919, with the closing price
74TS. There was no news on the proper
ty, outside OF the fact that the indicted
officials must appear for trial on the
charges that the trust is doing business
illegally. The other noticeable declines
were Sugar, | per cent, Chicago Gas,
81, Tennessee Coal and Iron 81, Chicago.
Burlington and Qnincey. | per cent.
Hooking Nalley, &i, Lackawanna, / per
cent, and Ia per cent. The Changers
were raided in the late trading in antici-
patton Of the St. Paul company earnings
for the third week in January, which will
he given out Tonight, showing ii large
decrease The Union Pacific foreclo-
sure by the Government is considered
generally favorable to the stock on tn,
theory that the action OF the government
in precipitating the matter is in line
with the plans OF the reorganization com
nlittete
Cotton was dull and easier to-day, and
x,,I J.ar. ixr afao 11s
decline of points from last nights pri.
ees, in sympathy with Liverpool. making
a full response to our decline Of yester-
day, reporting spots there 1-32d. lower.
and futures as having closel quiet ana
barely steady at 2 to 212 points net de
cline. The port receipts were liberal,
pointing TO 81 900 bales for the day.
against %, ,160 last week, Is, 159 hast year,
and "a, 149 in 1885, and this, with the
continued dullness OF the speculation,
operated against the market and took
the edge off of the bulIish sentiment
which has prevailed ON Change for the
past week. The business was the small
est reported for many weeks the total
transactions aggregating ohly $1,000
bales The tone at the close was dull
and barely steady at the decline. But
for the absence OF selling pressure, prices
would have sold off further than they
did. After the close the receipts at New
Orleans on Monday were estimated at
$4,000 to 14,000 bales. against 10,50T
last week and 1892 last year, and Hous-
ton $500 to 5000. against 4,425 last
week, and 3.449 last year
WHEAT.
Wheat was dull to-day, but prices held
steady in sympathy with Liverpool re-
spending to our advance of yesterday and
anticipation OF over 100000 bushels
decrease in the visible supply on Monday.
In view of the uncertainty as to what the
government report, which is due on Mon
day evening, there was little disposition
on the part Of the traders to increase
their interests one way or che other, and
as a result, prices fuctuated within very
narrow limits. The foreigners are indis-
posed to take the lead in: any advance,
but this is only natural, as they are the
principal buyers. The indications are
that there is a good demasld for export
II. II. cTTHBERT Il co.
NEW YORh.
NEW voaK. January 23:-Futures openei
steady at tho decline: saIea2f00 bales
Futures closed quiet snc steady: sales ~,
100 bales.