The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-29
Marks. Stimulated by a Liver
pool Advance.
NET GAIN or TEN POINTS
STOCKS DULL. Mario" AM
LARGELY PROFESSIONAL.
euoprslIFTEp SUGAR 2 CENT s
Wheat Opened With One Cent Advance
on Liverpool Cables, out Coz
lapsed Witn Net Oecl'ne
ofIl.4 Cents.

Now York. April 2S.-Ihere was IN
vc;tament on the resumption of
business at the c0tton exchange tiMs
morn;ng. following yesterdays monday.
rrbo earlv transactions were upon a very
heavy scale Up to noon the recoru
showed sales of 100000 bales with trad
inc IN 800 to 1000 bale lots quite COM
man The market had an irregular open
;ng The basis of the early improvement
,.os the strong attitude of the Llverpool
marriott while our market was closeu
Yesterday. and the continued strength Vi
tho English market to-day. frl'ate
cables assert that English splnnefs are
we'll supplied with orders for sooos,
while in need of raw cotton suppnes' anu
that English sentiment regarding the ou'
look remains quite bullish on the 'heois
of continued peaceful tendencies Ill loi
aion political circles. At the pest poii.
today the market showed net rise oi
Sfa13 points and finished steady IN tone
at a net advance of 1O013 points on near
positions and 1@7 points on far months'
T. p CIJTHBERT & CO.'S. LETTER.
Now York. April 2S-(SpeciaD-Cotton
showed increased strength to-day and ad-
vance,l 10 points. The market was stlm-
,,a+axl nv an advance of JIG in spot at
I;varnool and futures closing firm there
at 1874 10 2-64 advance over Monday
quotations. with spot sales for two Gays
; &c 900 bales. The southern spot markets
were firm and higher and prices here ad-
vanced JIG. with sales of 1851 bales.
The New Orleans markets for contracts
for crop deliveries advanced to points
above our prices, and the lower quota
tions here naturally stimula ted large buy
ing from that point, which demand, TO-
gether with large buying from Liverpool.
led to a continually firmer and hlgher
market. The market showed its great
strength by absorbing all the heavy real
ization sales, and closing at about the
highest prices. This, we think indicates
broader speculation and higher prices.
and therefore rather recommend pur-
chases ON all soft spots.
STOCKS.
The stock market was dull and mar
row and largely professional. Inere was
an absence of outside commission busl-
ness. which disappointing feature togeth-
er with the apathy of foreigners ana ap-
sence of any material short interest 10
work against. excepting few isolated
cases. made the majority of traders bear
ish and they hammered the market all
day. Attention was directed to Jersey
Central, Western Union and Omaha, all
of which were found to be but feebly sup
ported. Jersey Central was sold down
27s points. Omaha l and Western Union
10. The railroad list, especially the
Changers, held steady for time, but
later receded under the selling move
ment. and closed heavy at fractional de-
clines. What few orders foreign houses
received were to SELL The only stock
which showed any advancing tendency
was sugar. which advanced 2 per cent
on covering shorts, put out on the an
nouncement of Mr.. Theodore A. Have
meyers death last Monday.
WHEAT.
Wheat opened firm this morning. and
nrices advanced / cent in Chicago from
Yesterdays close in sympathy with Liv-
erpool cables There was more DISPOSE
ton to support the market on the theory
that a good rally was due, and on this idea
all the talent and traders got long. When
they ceased buying shortly after the
noon hour and the market showed signs
of weakening everybody tried to sell out
at once and the market collapsed. The
worlds visible supply Of only 2,9OO,OOO
bushels was less than was expected. On
the break a good export bushes develop
ed, with 10 loads here and % at the OUT
norris and 10000 bushels cash wheat
taken at Chicago. Corn ruled indepen-
dent of wheat, and prices We're steadily
held on more rain in the West.
T.. B. CUTHBERT & co.
NnW WORN