The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-13
AN UPWARD STAMPEDE
NOT BVEN LONDON SELLING
COULD STOP MOVEMENT.
RAILWAY EARNINGS STILL FAVORABLE
Wheat Made Another New High Record, Ad
vancing Three Cents for September to
81 t-2--Cotton Opened Heavy, but
Closed Steady Without Loss.

New York, Aug. 1.-THE cotton mar
ket opened easy at a decline of las
points, ruled only moderately active, at
no time showing any speculative ANNA
ton, but after further loss of 1@2
points reacting and finally closing steady
at net advance of l point to net
decline of / point. The early weakness
of the market was due to disappointing
spot sales at Liverpool while crop ac-
counts were generally very bearish. Sell
ing was arrested by favorable reports
from Fall River.
DRY GOODS.
New York, Aug. 12.-The market con-
tinues active in all lines. The presence
of many buyers in jobbing houses has
increased interest in all lines, but in cot
tons and woolens. These buyers have
kept jobbers busy and sales have been
of great magnitude. At first hands there
has been brisk demand and buyers are
beginning to take goods at the advanced
prices. Ia staple cottons the market is
firm. New York mills wide sheetings have
been advanced from ~ cent to 1 cent per
yard. Atlantic "A brown sheetings have
been advanced II cent per yard. Other
advances have been made, and still 9TH
ers are to follow in the near future. The
market for bleached goods is still ac-
tive. The market for coarse colored is
generally well sold up, the raids of de-
MINIS and other lines having been heavy
in the late past. Print cloths advanced
again yesterday.
Sales Of 100000 pieces at 29s cents,
spots and early delivery were reported
late yesterday afternoon from Fall Riv-
er. To-day sellers are refusing bids of
this sort and stronger market is ex-
pected. The sales of the week win be
heavy and an inroad of Importance into
stocks held by manufacturers will be
made. Prints are generally firm. Wool
en- goods in all departments are meeting
with favor.
e. B. CUTHBERT & CO.'S LETTER.
New York, Aug. 12-(Special.) Got
ton opened heavy and declined points
for August and 6 to points for the
rest of the list in sympathy with de-
cline of 1-16 in spot cotton at Liverpool
and 2-64d to Sod in futures, and good
rain at different points in Texas, in
Guiding / inch at Kerrville. The crowd
got short on the break and in the late
trading the market advanced on fresh
trading on an advance of JIG in print
cloths at Fall River to 11-16 cents
and reports of increased strength and
activity in the local drygoods markets.
All the early loss was recovered on
this rally, and the market closed steady
at last nights prices. The total sales
were $1,000 bales. Spot cotton here was
firm and in better demand, with sales
of 951 bales, at cents for middling in
Guiding 374 for export and SIT to spin
ners.
Wheat made another new high record
to-day, advancing cents for September
in Chicago and "a for December to S41h
and 1924, respectively, and 21a cents in
this market for September, and "a for
December. The advance was based on
an advance of lid. in futures in Liver
pool, 80 eentimes at Paris and flour
closing there strong at / franc and GO
centimes higher, together with light
Northwestern receipts, higher interior
markets and active bull manipulation at
st. Louis and Chicago. In the last
hour, heavy relizing sales caused a de-
cline of 1 cent here and 11a in Chicago
The market was very active, with the
fluctuations sharp and frequent.
The stock market developed further
strength and activity to-day and made
new high records for the Changers
Southwestern shares, Sugar and num-
Der of other specialties. The trading
was ON a very active scale, with the
total sales 742,700 shares. There was
heavy realizing all day, but the market
readily absorbed the offerings and held
strong until the close, when prices re-
ceded and considerable of the early inn
provements were lost on renewed liqui-
dalton and hammering by the bears
The undertone, however, continued
good. London houses were again good
sellers OF their specialties. None of them
admit that the supply of American Sc,
curities held abroad is now very small
and that it is hard to secure stock in
the London market for delivery. All the
outside news continued of a favorable
nature. The continued advance in
wheat was regarded as especially good
and likewise the activity in drygoods and
a further advance of 1-16in print-cloths
to-day to 11-16, with a strong demand
for them on that basis.
E. B. CUTHBERT & co.
NEW YORK..
NEW YORK. August 12-Futures opened
easy; sales 1900 bales.
Futures closed steady; sales 81 800 bales.
Opening. Closing
A.1u11 cf