The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-03
IRREGULAR TENDENCY
Was Displayed at Times by
the Stock Market.
LEATHER WAS PROMINENT
MARKET GENERALLY SHOWED
DECIDED STRENGTH.
WHEAT WAS SOMEWHAT NERVOUS
Cotton Maintained An Upward Tendency
Throughout the Session The Market
Closed at Net Advance.

New York, Aug. I'm the absence OF
cables from Liverpool to-day trading IN
cotton at New York was on rather con-
seryative lines. An upward tendehc!
was maintained throughout the session.
The basis of the advance was chiefly the
absence of rains of consequence Ill sec
lions of the cotton built alleged TO Dc
suffering from drought Accounts from
Texas were particularly poor; but ou'-
side of this State the average OF Tue
c-cp news was regarded as geherah;
favorable. The market started WIN
prices | point lower to 5 points hlsner'
ouiet but firm and ruled generally Irlh
with the best level of the session snow
ing an advance of 4GS points. August
weakened at the close under reallZihg.
The market closed steady at net adj
vance of 6 points to decline of L point.
Total sales 64.SO0 bales.
E.B. CUTHBERT & CO.'S. LETTER.
New York, Aug. ACKNOWLEDGMENT
was strong all day and moderately ac-
tive. Prices advanced IA to l12 cents
and closed firm at l to rs cents net ao-
vance over Saturdays prices. Inc Law
tarpool markets were closed ON account
of the holiday, but at Paris, prices al
vanced and closed firm at, 70 to 90 cen
times over Saturdays prices, and Ior-
eigners turned up as good buyers. Inc
market reacted sharply just before noon
on realizing by local traders on receipts
of S53 cars Of wheat at Kansas to-day
and increase in the visible supply IN
this country for the week of over l,ioo,-
600 bushels, nearly 1,O0O.OOO more IMAM
hnrx
had been expected. This selllng, now
ever. soon subsidized and the market clos
ed strong on so loads of wheat taken
here and at the outports on actual DUST
ness done and also in the way or caple
accentances. Corn is said to have de-
Perforated in Kansas since July lst. Inc
trading in corn was active and strong
on the reports of damage in Kansas ana
more hot winds there yesterday and to-
day. Provisions declined on selling by
Cudahy's brokers.
Cotton was firmer to-day and advanced
4 points for August and to points
for the rest of the list, on good buying
nv local traders and commission houses
ON the increased strength of the statis-
teal position and confirmation OF reports
of damage to the crop in Kansas from
the dry and hot weather. To-day,s
weather map showed continued not
weather throughout that section to-day,
with only rainfall for the past 4S hours
10 inch at Huntsville. The weather pre-
dictions for the next thirty six hours IN
Texas. are for generally fair weather,
with continued high temperature ana
Southerly winds. Spot cotton here was
firm and unchanged at 8 cents for mid
ding. with sales of 1871 bales to spin
ners. The weekly government crop re-
port is due at noon tomorrow and is ex-
pected to be favorable in tone for all the
States except Texas.
The speculation in the stock market
to-day was active and strong In the
main. with sentiment confidently bullish,
notwithstanding reports of serious crop
damage to corn in Kansas and Missouri
and less favorable reports from the
Northwest on spring wheat. On these
reports. the professional element ham,
mered the market at the start, but the
denial of serious crop damage and the
absence of any further engagements Oh
gold for export and renewed aggressive
buying in the industrial shares by the
leading bull interests, together with the
execution of an accumulation of buying
orders received by commission houses
over Sunday from out-of-town custom
ers, turned the market strong and prices
moved up rapidly under the lead of the
industrial and the Gould stocks. Con-
solidated Gas enjoyed a further sharp
rise Of points to 1856 on buying on the
belief that the consolidation of the var
ious local companies has been affected.
At the same time Sugar advanced near
iy 2 per cent on inside buying and cover
ing of shorts and tobacco rose "a points
to S6k on buying by insiders and friends
of the management on prospects of in
creased earnings from better trade and
less competition and curtailment Of ex-
penses. Chicago Gas was steadily
bought by the insiders and it advanced
15s to 1.O0% In the late trading re-
newed crop damage reports from Kan
sas led to realizing and a bear raid and
prices eased off for the general railroad
list and Changers, the tone at the close
however. was strong with the sentiment
still generally bullish. The total sales
were 397.257 shares.
r. B. CUTHBERT & co.
NEW YORA.
NEW YORK. August FIXTURES opened
ouiet and firm; sales $500 bales.
Opening. Closing
AUGUST.
September ................''' 81 20
October ........,......''. - ~ ~
November .................'. Vo ~
December. - 80
January ....................'' ~ = a.
February ....................' 10 > o.
Z