The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-21
Cotton Lower on Liverpool ana
Southern Liquidation.
NET DECLINE S TO 6 POINTS
WHEAT WAS IRREGULAR On WV
FLICTING NEWS.
GAINED a.4c OVER DAY BEFORE
Stocks Were Irregular and unse''eo
Bears Raided the Coa'ers WINCH
Were the Weak Feature--o''
the List Resisted.

Now York. May 2O-The cotton ma.Aet
Nv ste.aSv at a decline of 1@3 points
ahios he;nr unsatisfactory and crop ac-
.a,,o,s generally favorable. Foilowlns
49, .,r,on;np call there was some irregu-
- With a further decrease OF 100
nn;n+s attended by feeble rallies, ana
ssu;shea steady with a net declien OF 4eIn
na;n.s The undertone Of the market
remains weak, however. Some OF t'-ua. ;
cron news has been exceptionaliy peaslsi'
although to some extent contrau'c'ois.
Selling was arrested by activity IN spot
cotton sales Of which reached 5,l24 oaies'
Including 5000 bales for export ana .
AK bales spinning. This led 70 some
covering and eteadied the market iot ~
t;mp. but local sentiment was inchneu
to M. bearish in the absence OF specuia-
five competition for cotton. notwltnstanu-
ing the increasing strength OF the s'a''s-
tical position.
E. B. CUTHBERT & CO.'S. LETTER n
New York, May 2O.-(SpeciaD-Cotton
aave,oped further weakness to-day on
General Withdrawals of bulls support ana
rannwe1 local and Southern liquadatloh
,,raar tho influence of weaker and lower
Liverpool markets, fine weatner cohu ,
lions in the South, dull and easier SOu'n-
ern spot markets, with a further raining,
off in the demand at Liverpool. continues
moor trade reports from dry-Soous uis-
tr;cts and no sign of an improvement III
nrint cloths at Fall River or.an yarns
at Manchester. Spot sales OF o,'@f
bales were reported in this market ia'e
in the afternoon, but as two-th1rds Oh
the bales were made late last evening
and prices were unchanged at ia cents
and with the demand supplied, the trans
actions had no influence upon the marker,
which continued dull and easier up TO the
close the final prices showing net decfhe
If TO 1; points from yesterday, WIN
rho tone weak at the close and market
showing still further downward tenden-
cy.
WHEAT.
Wheat was irregular, owing to con-
Aicting news developments and generally
mixed sentiment of traders. Foreign
markets were firmer and higher, but were
offsef nv continued favorable weather IN
Northwest and Thoman estimating an
increase in. area Of spring wheat OF 10
per cent compared with last year, with
Condition 96 per cent and indicating crop
Of 22O.OOOOOO bushels, of 95,UOU,VUV
bushels more than was harvested last
wear. On this the market opened lower
and declined "A additional. The sentimen,
was generally bearish, and the cro"a
soon became Oyer-sold. Later Ine mar
ket hardened under firmer and still hlgner
closing cables, large ciearances anu less
favorable French and Austrian crop re-
ports. When the crowd tried to cover
they found offerings light, and were Tor
ced to bid up the market. In tins way,
the market steadily advanced and closed
firm within n to " of the highest price
and * to q above last nights close. Corn
and oats sympathized with wheat and
closed firm at n net advance.
STOCKS.
To-day's stock market was irregular
and unsettled. The coalers were again
the weak feature. Another bear RAJ
was directed against them, and these OF
ferines. with renewed liquidation, and the
execution OF stop orders which the de.
clines unearthed, caused q break OF =
points in J. c., to 81 and over per cent
each in ID. and H., and over i point III
Susauehanna and West preferred. Line
aggressive bear tactics in these stocks
were extended to the rest Of the list
which showed much more resistance, and
the declines in them were only fractional
except III two or three cases, and later
nearly all the early losses in them, were
recovered before the close. In nearly
trading, Met. Tract was the strongest
feature and advanced 2 per cent, on good
buying ON o decision = change the motive
power on, the lines O. pcEne OF the com
pany's roads. go
@gHN .. B. CUTHBERT & co.
N2W YORk.
NEW Yonx. May so.-Futures 6peaed