The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-14
HOUSMAN STOOD UNDER
BUT EVEN WITH HIS SUPPORT
LIST WENT OFF A POINT.
WHEAT HAD A MATERIAL SETBACK
That Cereal Finally Broke and Declined Two
Cents Market Had Been Bulled Beyond
Limit Cotton Closed Three
Points Higher.

ket opened steady with prices l to q
points lower, the decline falling mainly
on the new crop positions. August re-
ceived special support in the way OF
buying orders from Philadelphia. Fol
lowing the first call, the market furt1-
.er declined to 3 points. The weakness
was the result of unfavorable and dis
appointing foreign advices and general
ly unfavorable crop accounts. About
the only support the market had, came
in the way of buying against short con-
tracts During the afternoon the mar
ket was quiet and practically in the
hands of the local contingent with a
weak undertone and finally quiet and
steady at a net decline of to 0points,
except on August, which showed net
gain of 3 points on spinners buying.
Total sales, $1,000 bales.
DRY GOODS.
New York, Aug. 3D. The drygoods
market shows a steady improvement
from day to day The close of the week
sees a gain in the market quotations, not
only in all lines of cotton goods, but in
woolen goods as well. To-day's re-
ports shew a well maintained market in
all staple cottons, the demand for goods
at previous prices being well supported.
Sellers are, however, somewhat more
firm in their stand, and many offers have
been refused, except at advanced rates.
Bleached cottons are meeting with n
brisk request, and brown goods are
bought in fairly heavy quantities.
Print cloths are to-day without further
feature. Prints are without features
except that they are steady at well
sustained prices Wooden goods in
all divisions continue to attract buy
ers and sales both of cheaper grades
and medium priced lines, are reported
to be of fair size.
e. B. CUTHBERT & CO.'S LETTER.
New York, Aug 13.-(Special)-C
ruled dull and easy to-day on more rain
being reported by the Weather Bureau
at the points covered in Texas yesterday,
and futures at Liverpool closing 1-64d. to
2-64d. lower and spot cotton quiet, with
sales at but 5000 bales. Prices opened
three points lower and declined three
to four points additional, rallied and
recovered this loss on covering by scalp
erS and some small new commission
business, but later developed renewed
weakness ON persistent New Orleans
selling and closed quiet at the lowest
prices 6 to points below last nights
close from September forward. August
was not effected by the decline in the
rest of the list, owing to its strong rela-
ton to spot cotton. In fact it closed 3
points higher. The total sales were
$4,000 bales.
Wheat suffered a material setback in
prices to-day owing to heavy realizing
sales influenced by the falling-off in the
foreign export demand and liquidation
by Liverpool, Paris and Antwerp specu-
lators. All the foreign markets, more
over, showed a reactionary tendency, the
Northwest receipts were larger and
freight rates were easier and in some
cases lower, all of which contributed to
nervous, irregular feeling and it con-
tinued in evidence up to the close. The
bull interests at Chicago and ST. Louis
sent some supporting orders here and
prices opened steady at about last nights
closing, and later advanced y cent to
30 for September in sympathy with ~
cent rise at Chicago to S312 But for
elgners turned up such heavy sellers and
their cash and export demand were so
light that the market later broke and
declined two cents. The market had
simply been bulled beyond the limit yes
terday, and as prices began to react,
there was great outpouring of long
stuff. In the late trading covering of
shorts and good support from the bulls
led to a rally of 5s to %from the lowest
at which range the market closed steadi-
er in tone. The total export business
was % loads here and at the outports
and one cargo for France for November
loading. Eight loads of corn were taken
and 10000 bushels of oats. Many re-
gard the reaction as the best thing that
hnrv l.
which was fast becoming congested, with
Il scattered weak long interest.
The trading in the stock market to-
day was less active and it was irregular
in tone, with sharp and frequent fuc-
tuation as a result of confused trading
There was more pressure to sell after the
first hour, and although the bull inter
ests rendered good support, the pressure
to sell and secure profits predominated.
The inevitable result was a break in
values, in which the whole list respond
ed. London houses again sold their
specialties rather freely, and some of the
larger operators were detected in liqui-
dating some of their interests. Mr..
Housman, the representative of the
bulls, who has been such an aggressive
buyer of the general list during the last
month, and had not yet sold anything
openly, had large supporting orders. He
took over 10000 shares of various
stocks during the forenoon, and while
he continued such a large buyer the
market held up fairly well. In the after
noon, however, the selling became so
general that no one man or set of men
could hold the market in check, and
everything on the list of the more active
stocks sold off one point or more from
the opening high level.
=. b. CUTHBERT & co.
NEW YORX.
NEW YORK. August B.-Futures opened
steady at the decline; sales $500 bales.
Futures closed quiet and steady; sales so, 100
bales.
Opening. Closing