The news & observer., 1897-01-28
cotton SOME LOWER
Trading Small and Fluctua-
tions Narrow
STOCK DEALINGS LIMITED
THE BOND MARKET WAS QUIET
GOVERNMENTS STRONG.
WHEAT BROKE / 7-s CENTS
But Made a Partial Recovery, Closing
at a Decline of Cent--Corn
and Oats Gain 8--Pro-
visions Weak.
visions Weak.

New \ 0rk, JAM 2I.--IraQIng III cOUuon
to-day was again small and fluctuations
were very narrow. Trading continued to
be of q professional nature. At the
opening the market was steady with
prices unchanged to 1 point higher. Eng
lish news was favorable and with light
buying by houses with New Orleans and
Liverpool connections prices further ad-
vanced 203 points. The chief support
during the past few days has been the
firmness of spot markets both in this
country and abroad. Exporters and FAN
River manufacturers bid freely to-day,
but found little offering The afternoon
market was inactive with prices eased
off to the opening figures under light
local realizing The close was barely
steady with near months unchanged to
8 points lower and far months to Z
points lower.
F. B. CUTHBERT Il CO.'S LETTER.
New York, Jan. 27-(Special. Wheat
developed further weakness to-day under
renewed general heavy liquidation Of
long stuff by tired holders and disap-
pointed bulls, influenced by the Liver
pool markets, making greater response
to our weakness of yesterday than had
been expected and continued absence of
outside speculative demand or bulls sup
port The cables in hand at the opening
reported futures at Liverpool second
cables lower and contained large selling
orders. These offerings, together with
heavy liquidation for local account, led
to weak opening, with prices 9sc. lower,
with the first sale OF May at Chicago II.
From this quotation, there was n running
break of III cents to 75A, before the
selling pressure subsidized. The receipts
were light: aggregating 142 cars against
40 last year, and this together with 81
loads of wheat worked here and at the
out-ports for exports, led to active cover
ing Of shorts and a rally Of ! cent from
the lowest prices occurred, the market
closing steady with quotations / cent up
from the lowest and / cent from yesteF
days final prices.
Cotton advanced to points in the
early trading to-day in sympathy with
an advance Of 11-64 to 2-64 in Liverpool
and continued moderate receipts. The
speculation was not strong enough to alb
sorb the offerings of the local traders, who
were inclined to realize against their
previous purchases, and the market turn
ed easy in the afternoon and closed
barely steady at a net decline OF 3 points
from last nights final prices. The
course of the market during the day was
very Disappointing, especially, in view of
the bullish talk and circulation of
flood of bull news in regard to the supply
situation, and it would not take much to
induce the bulls to throw over their
holdings, as they are getting weary of
supporting the market and waiting for
outsiders to come in who will relieve them
- 4i 4
dull and unchanged at 5-16 for middling.
The total sales were $4,000.
STOCKS.
To-day's stock market was a small and
narrow affair, with the trading largely
professional and fluctuations confined
within marrow limits. 1t was irregular
in tone, starting off firm and advancing
fractionally, later hating and subse-
quently easying off and developing irregu-
larity and weakness under renewed bear
attacks in the coalers and liquidation in
Chicago Gas, Sugar and further extreme
weakness in Hooking Valley securities
on forced liquidation in the bonds, as
well as in the shares of the company
The foreigners were apathetic, and did
very little either way. Prices sagged in
the last hour on absence OF business, and
the market closed quiet, with Sugar,
Gas, Jersey Central, D. and I'll. and
Hooking Valley, the weak features. The
latter stock declined from 3-4 to and
closed at 81. while the per cent bonds,
which closed last night at " to 7S, de-
clined to 6S and closed at about 40. The
selling was forced liquidation OF securi-
ties as collateral in loans in the absence
of any support, Notwithstanding the
statements of it's friends that the com
pany is all right and the troubles in the
coal regions, together with the rate war,
will soon be settled. The principal news
announced during the day was the annual
preliminary report of the Delaware &
Hudson Company for 1896, showing
decrease in net earnings Of $590,243 and
an increase in deficit of $500, ,3S2, with
the balance sheets showing after the
payment of interest. rentals and taxes
81, 765,013, or a little more than per
cent earned on the stock, against 6 "a
per cent last year.
r. B. CUTHBERT & co.
NEW YORh.
NEW YORK, January 27-Futures opened
steady: sales 800 bales.
m 90 Q0