The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-31
DANIEL LAMONT LUCKY
Will, PROBABLY BE PRESlDEN1
NORTHERN PACIFIC II. 4.
SPOT COTTON IS FIRM AT EIGHT CENTS
Wheat Grows Stronger, and Foreign Trading
In It Indicates Small Crop in
Other Countries.

New York. July 30.-It was another
day of small trading at the cotton ex
change, entire transactions in futures
reaching but $4,000 bales. The hrst
call developed steady market with prices
one point lower to point higher. After
a further advance of 102 points on hsn'
buying in the near months, prices easeo
off four0six points under private re-
nor+s of good rains in the vicinity OIL
Cnero Southern Texas. The market
was finally steady at IA net loss OF three
,o;n+s To an advance of 1 point Asloe
from a slight improvement III spot coz
Ton tbere was nothing in Llverpool au-
v;oes tn influence local sentiment when
was bullishly inclined, under generany
esr-orahla accounts from the cotton Delt.
while cron news was unmlstakably la
yorable to cotton, the strength OF the
tat;St;oal nosition had its effect on ag-
'.uoSs;ye hear hammering. Bulls, on the
etbar hand were handicapped by the ao-
sance of the customary outside invese
,,ont interest. But few buying oruers
were received and the market was ~ -
,,onas of room traders throughout tue
session.
EB. CuTHBERT & CO.'S. LEIlEh'
New York. July 3O.-(Special)-Cotton
yuIad ouiet and steady to-day Win nue.,
nations confined within range .. .
40 4 noints from last nights prices. sell
mo nv traders caused the decline IoiloM
10 tho easier tone to the closing Li'-
arnool cables. which showed all the carry
advance of 1-64 to 2-64 in futures hau
been lost although spot cotton tnere au-
yanced 1-32d with sales of lotOo pales.
Stronger and higher Southern marke,s'
with spot sales of $500 bales at Chai-
,aston and 525 at Savannah, helped Tue
market in the late trading ana tue
olosino tone was steady. with the nnai
,r;cas ahout the same as last night.
Sno+ cotton here was firm at cents
for m;ddlng with sales of 200 bales ZOE
oxnort and $50 for home consumption
ond 500 delivered on July contract. line
,yeather was generally clear IN the cot
ton belt.
Wheat developed further strength ana
activity to-day and made another hlgh
record at Chicago, advancing over Z
cants. The continued good demand TOT
orr wheat from the Continent, with
exnort purchases here to-day aggregat-
ing 75 loads. together with large buying
of September and December options for
Paris account. On the bulge heavy
realizing sales by local and Chicago bulls
and the market reacted and lost l point.
The tone at the close was heavy with
final prices about l cent above last
nioht,s close. Corn sympathized with
wheat and advanced 5s to "a but later
receded and closed quiet at Is to "a
net advance. Provisions were firm and
higher on covering of shorts and good
cash demand.
To-day's stock market was adversely
affected by larger engagements of gold
to Europe than had been expected. The
total amount aggregates $3,2OO,OOO. In
addition to this feature, the London
markets for American stock was irreg-
ular and closed fractionally lower. De-
spite these unfavorable features, the
market showed strong front and prices
closed at small fractional declines to frac-
fional net advances There was con-
tinuation of outside investment and
speculative demand and this, with con-
tinued support from the various pools in
the low-priced miscellaneous railroad and
:, industrial shares, impaired an under
tone OF strength 10 the mdfkel, Which
in late trading was further benefited by
sharp rise Of points in Consolidated
Gas stock. The buying in this security
was based ON deals pending in it for
concentration of interests. The renewed
md sharp advance in wheat, under heavy
export purchases, on the less favorab BILE
outlook for European crop, helped the
Grangers The undertone at the close
was good.
E. B. CUTHBERT & co.
NEW YORA.
New YORK. July 30.-Futures opened