The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-14
SUGAR is SOME HIGHER
A FAILURE AFFECTS IT'S PRICE
TEMPORARILY.
THE MINERS STRIKE RAISES COAL
The General Market Closed Firm at the Ad-
yance--The Weather Report.


4 points, partially reacted but closed hrli
ut net advance of ID to il points WIN
total sales Of 77,400 bales. The early ad-
vance was due to bettercass Oh caDles
no,vs +ban had been expected and cover
ing on fears of an over large snort in'er-
est while early srop accounts were coh-
sictinc The market subsequently cas-
cd off partially on the appearance OIL .ne
~,,ool-lv weather and crop report, but soon
roll;od and closed at the highest on shorts
covering.
r. 3. CUTHBERT 4 CO.'S LETTER
Now York. July 13.-(Special.)- Wv neat
deveIoped further strength ana actlfl's
TODAY on firmer and higher LlVerpool
markets with futures there closing hrni
at 81 to1Ad above last nights close ana
snot wheat firm and in good demand. IL
was deyeloped that a considerable snort
;ntarest existed in the market and IN the
anxiety TO cover the bull interests TOOK
advantage of the situation and bought
and bid up prices. Mr.. Barrett was re-
ported to be heavily short also ana III Tue
absence of much pressure to sell, prices
11-16c further for July and &c for the
later options. the market finally closing
firm within a fraction of the best prices.
The foreign houses were active buyers
here of futures and would have taken
considerable spot wheat and nearby de-
liyeries. but the markest advanced be-
yond the limits placed upon the orders.
There were. however, loads taken here
L H. W. ar fnfprn
shipment and 10 loads of corn. The
weather conditions in the west We're IA
yorable but were without effect upon
the market. being offset by the statistical
position and the better foreign cables.
Corn was dull and easier on better wealth
er and falling off outside speculative de-
mand and lower Liverpool markets,wh
the crop is now generally admitted by
both the governmental agents ana
private parties to be suffering from con-
finued dry weather. the strong statistical
position of the staple, and continuance
of moderate demand abroad. together
with realization and appreciation that
the crop has yet to pass through the bal
ance of this month and August. the most
critical time made them nervous and
anxious to cover. At the same time It
increased the confidence of the bulls.
Cotton.-The market showed new and
decided strength today and prices steadl-
iy advanced under good buying for both
long and short account and absence OF
offerings except at continually higher
prices. At the start the initial trading was
at 2 to 3 points advance over last night S
prices. which improvement was constant
" added to up to the close, when the final
prices were the highest for the day and
showed net advance of 13 to ID points.
The trading was only moderately active,
but the buying was of good class, while
the selling was mostly professional and
scattered. The total sales for the day
were 77.4OO bales A combination OF
bullish features stimulated the market.
among them being firmer and higher Liv-
erpool markets with cables reporting an
improved demand there for spot cotton,
with sales of 10000 bales at yesterday
prices and futures 1-64d higher, too
MANY rains in the south Atlantic States
and continued absence Of rain in Texas
and Arkansas. Spot cotton here was firm
and in good demand at 1916 for mid
ding. with total sales for the day of
3.613 bales. of which Ito were for con-
sumption and 800 delivered on contract.
Crop accounts are pretty good from the
Atlantic and Gulf States. but bad re-
ports are coming in to us from many
places in Arkansas and Tennessee.
Stocks.-When the market opened this
morning. as was the case Yesterday, the
principal trading and interests continued
centered in Sugar. The pressure Of Tea-
lizing sales opened the stock down ~
points at opening at 1884 bnt orders
to cover belated lines of shorts at the
market to the extent of 10000 shares
rushed the price up .ih points in less than
half an hour. The order was completed at
1874. Then came the public announce
ment that the embarrassed firm Of
Decker. Howell & Co. had made an as
signment. The announcement caused a
sharp break Of over 2 per cent in Sugar
and * to per cent in the rest of the list,
which had ND to that time remained prac.
tically at last nights prices. As the
FIRMS embarrassment did not particu-
larly effect any individuals and no other
SUSPENSIONS were likely and as the firms
losses are confined entirely to local spccu-
lators and commission houses who can
we'll afford to stand them, the market la
ter recovered all the losses and during
the afternoon steadily advanced Il to 1
per cent under the lead Of the coalers,
which were strong and active all day on
GOOD inside buying, Influenced by all the
anthracite companies being benefited at
the expense of the bituminous strike sit
nation and increased demand for coal at
better prices than have prevailed for
some time. The Changers were strong on
the more favorable crop outlook and ad-
vance in wheat. The general market
closed firm at the advance.
e. B. CUTHBERT & co.
NEW YORA.
NEW YORK, July 13.-Futures opened
quiet and Arm: sales 1900 bales.