The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-29
CLOSED AT NEARLY TOP
WHEAT DEVELOPED FUhIf1hh
FRACTIONAL DECLINES.
TIE MARKET LOST NEARLY ONE CENT
It Was Largely Liquidating Market Trading
Was Only Moderately Active in Cot
ton, Closing Three to -Four
Points Lower.

..he cotton market to-day was exceeding
To irregular. the situation being domln-
ated more or less by fears of man7pula-
t;nn The market opened with August
~ points higher, September l point low
or. October unchanged and other months
Eve noints higher. Following the call
the market was quite featureless, except
for some Liverpool selling, until nearly
tho close when an active selling move
,nent set in. causing decline of from
S15 to $40 for August, decline OF
9 points on September and 405 points
nm the remainder Of the list. Except for
August. which picked up points OF the
decline. the market closed at the lowest
Lowell of the session-an advance or IL
noints on Aug. and a decline OF lQ6
noints on the remainder Of the list.
DRY GOODS.
New York. Aug. 2S.-Dry goods, print
cloths show a firm market with bids re-
fused for spot extras at 29s cents. Flu
lures are held at Ills cents. The
Fall River reports show sales OF 2I1,ooO
pieces, $4,000 sixtyfour squares ana
243, 900 sdds.
The stscks show a slight increase. The
productioa was 100000 pieces and the
deliveries 234 900 pieces. At Provi-
dence 10000 extras, spots and early de-
fiveries were sold. The production was
5000 pieces. Prints are selling. with
advances in certain staple grades still
expected Fancies are selling freely on
recorders. Sales of ginghams at advanc-
ed prices are light, but it is thought will
be heavy as soon as the market adjusts
itself. Woolen goods of all sorts are
strong and active, as in the late past.
n. B. CUTHBERT & CO.'S. LETTER.
New York, Aug. 28.-(SpeciaD-The
stock market continued strong to-day,
with good buying for speculative and in
vestment purposes by commission houses
for outsiders, who have left wheat and
come back again in the stock market hop
ing for the more favorable conditions sur
rounding it and the prospects of fur
Their improvement in prices. The lead
ing bull interests were also large buyers,
Mr.. Housman taking over $4,000 shares
of the Changers and various low-priced
southern and southwestern stocks and
Flower 4 Co., following purchasing
upwards Of 1900 shares, principally OF
Rock Island. This latter was the strong
est on the list and advanced one point
further - 90h. St. Paul advanced II
10 951a and Omaha advanced 3 per cent
to 71A, q. and O., advanced one per
cent further and B. @. ~. These stocks
were the leaders of the general market
and monopolized the bulk OF the bust
ness. The market closed strong, with
prices within fraction of the higI,st
quotation.
Cotton was quiet to-day and devoid of
any new important features. The mar
ket was irregular in tone, with the trad
ing only moderately active and largely
Of the usual evening-up character over
Sunday. Liverpool reported spot cotton
there steady and unchanged, with sales
Of 5000 bales and futures 1-64 higher at
the close. These advices were better
than had been expected and with con-
tinued aetivity in dry-goods circles, with
an advancing tendency to prices and ex-
pansion in business, to help the market,
prices opened firm and advanced 4 to 3
points from September to January. This
improvement was however, later on,
lost on liquidation by traders and bears
increasing their short interest and the
absence Of bull support. The market
was sold down at the close to influence
Liverpool adversely ON Monday by this
class of operators, the general list clos
ing - 4 points lower compared with
last night, except August, which was
advanced Is points On its practical ex-
piration, the option going out on Tues
day when all contracts must be settled.
Wheat developed further irregularity
to-day and closed at fractional further
declines. The opening quotations were
1 cent higher here and n to ~ cents
ut Chicago owing to an advance Of about
Id at Liverpool and the export clear
ances exceeding 100000 bushels for the
week. Later the market weakened I'M
der liquidation Influenced by the Secreta-
~ of the Chamber of Commerce Of Min
neapolis estimating the yield of spring
wheat in the Dakotas and Minneapolis at
over 100000 bushels against esti-
mates of 100000 bushels ten days
ago by the crop expert of the Minneapolis
Journal. This liquidation carried prices
down ~ cents from the highest here this
morning and our market closed at the
lowest X below last nights closing quo
tation. The trading throughout the day
was quiet, with normal conditions pre-
vailing. 1t was largely a liquidating
market.
q. B. CUTHBERT & co.
NkW iORA.