The news & observer., 1897-02-19
But Only a Bit on Better Orders
From Liverpool.
WHEAT WAS FeATURELEsS
STOCKS UNSETTLED AND SAG
GING UNDER WAR SCARE.
TOBACCO WAS AN EXCEPTION
The Weed Advance ia Per Cent on
Continued Covering of Shorts
and Manipulation by insiders
Close " as Irregular.

Z
| Close " as Irregular.
New York. Feb 1S.-The cotton mar
ket at this point made little average
headway to-day, following a better class
of cables than looked for, moderate re-
ceipts. encouraging Fall River accounts,
and some good buying orders from Liver
pool and New Orleans, suppleInenting
a better local demand than seen here for
some time. There is a good deal OF
interest shown IN spot cotton. Following
Yesterdays sales of 902 bales to spin
ners the sales Of to-day were 671 also to
spinners. Bids on several large lines are
understood to have been made but fail
ed to materialize in business owing to
the arbitrary views of holders who are
demanding at least % points on March
contracts. Opening at an advance or 10
4 points. prices further advanced four
to six points, sold off partially under local
liquidation, bat closed very steady at
net advance of 2GS points, chiefly on
near positions.
E. B. CUTHBERT & CO.'S LETTER.
New York, Feb 1S.-fSpecial.) Got
ton was quiet and steady to-day and re-
covered the loss sustained yesterday Of
buying try traders Influenced by absence
of bear pressure, light port receipts, con-
| firming reports from the dry goods cen-
| ters. were more favorable and encouraged
| the bulls to support the market. The
| trading was very light, especially in the
| afternoon. The totaa sales for the day
| were 113,500 bales, against 10000 yes
/ terday, 1S6,500 the day before and 222,-
! 200 on Monday. Upon the whole, it was
a small, narrow, featureless market, with
| the bulk Of the business confined to the
| local professional operators. At Liver
pool spot cotton was unchanged, with
/ sales of 10000 bales and futures closed
i.auiet and steady at 11a to ] 2 64d net de-
/ cline Trade reports from Manchester
were less favorable, Indicating restrict
ed business in India on account Of the
stringency in money there on account of
| the plague, and famine. The receipts at
/ the ports approximated 1900 bales
| against 11,134 last week and 1887 last
year.
| WHEAT.
| Wheat showed better tone to-day in
/ consequence of slightly better cash de-
mand for middling purposes in the West
and exporters here taking $4,000 bushels,
! together with clearanees for the day
| equivalent to about $4,000 bushels OF
I wheat and 100000 bushels of corn, to-
gether with the firmer foreign markets
/ with an advance of I'D in futures at Law
erpool The market opened quiet at last
nights prices, but slowly improved and
i closed firm at T5A for May within 1s
/ of the highest and 5s above yesterday s
4 closing Corn was strong and more ac-
4 tive on purchases of over 100000 bush
els at Chicago to cover shorts, and the
1 days clearances making the total ex-
lsports for the week so far 100000 bush
els. The low price of this article COM
pared with wheat attracted many in
vestors, notwithstanding the large crop
in sight.
| The unsettled conditions OF the Euro
ipean and Turkish politics and the de
Iveaopment of renewed weakness In the
Local stocks led to q continued irregular
and unsettled market to-day with q
sagging tendency to prices. Fresh lqui-
dation was evidenced in Hooking Valley
securities, and the stock deciined from
5% to Az, and the foreshadowlng de-
fauIt on the interest OF the five per cent
b nSlg, amounting to $221 900 failing due
on March first. No attempt is now made
to conceal the fact that the company has
| been able to obtain this amount, end re-
ports are current in the street Of an inn
pending reorganization OF the property.
There were also revival Of ruTnors OF
| an impending receivership for the Lee
...sn Valley CoE1pany, which stock made
| a further break to-day of three per cent
| to 1O1k. The officers of the Company en-
/ phatically denied that there was any
| thing the matter, but, nevertheless, some
of the large interests are known to have
| liquidated portion of their holdings.
| Jersey Central shared in the weakness
| with these stocks and declined per ceRt.
Tobacco and whiskey were notable ex-
ceptions to the weakness prevailing In the
| general market, the former advanced1M
per cent to 72115, on continued covering
ofsborts and support from insiders. Ihe
buying OF whiskey stocks was by friends
of the management and was accompanied
by reports OF an early settlement of the
trade difficulties in the West. With the
exception OF these stocks, and one or tive
other specialties, the general list closed
irregular and heavy.
| e. B. cUTHBBRT & co.
| NEW YORk.
NEW YORK, February 1S.-Fltures opened
| steady; sales 5000 bales.
FutHces closed very steady: sales 3.OS
| bales.
Opening. Closinl &.