The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-06
MARKET REPORTS.
ER CUTHBERT & CO.'S. LETTER.

e. B. CUTHBERT & CO.'S. LETTER.
New York, April 5.-(SpeciaD- Cotton
opened firm this morning and advanced
8 to 5 points in sympathy with a rise
Of 1-32d in spots and 2 to 211a points in
futures in Liverpool, influenced by the
floods reports, but the speculation was
not strong enough ito sustain the i'm
provement and the market later develop
ed weakness, losing all the early advance
and closing barely steady at the lowest
prices, 2 to 3 points below Saturdays
closing quotations. The expected revival
of outside speculative business did not
materialize and this with heavy realiz-
ing and Southern selling in last hour,
took the edge off the bullish enthusiasm
and created weak undertone, which
continued up to the close. The total
sales were 121 300 bales.
WHEAT.
Wheat developed further weakness to-
day, on continued heavy liquidation and
closed weak at / to rs cents net decline
from Saturdays prices. The foreign
markets lost all the strength they display
ed on Saturday and closed weak at
to IL decline for futures at Liverpool.
All the other news was bearish. The
Ohio State crop report estimated the con-
dition winter wheat at So per cent. The
worlds shipments were larger than had
been expected, approximating 4,544,O 600
bushels. The weather conditions were
more favorable, and the visible supply
showed decrease in this country of only
100000 bushels. The English visible
supply decreased $4,000 bushels. There
1f 1ry,r xryhn an
the market from the start and the ex-
port demand was but 20 loads of wheat
and 40 loads corn. The Chicago market
will be closed tomorrow ON account OF
legal holiday. The total cash sales there
were insignificant, in view of the contin-
ued concession in price, receivers taking
only $4,000 bushels in all.
STOCKS.
The stock market developed further If
regularity and renewed weakness to-
day, closed weak at decline ranging from
- to ~ per cent. The principal depress-
ing factors were the continued weakness
in coal stocks and flood situation in the
West and Northwest. And on top OF
it. all came the announcement in the last
hour that the hearing Of the Joint Traf-
nc ASSOCIATION case ndu Deeu ueIeTTeu
until October Is. The street had expect
ed the case would have been taken up
and decided one way or the other, this
month. With the railroad situation con-
tinuing in an unsettled state until that
time, it was apparent that the time was
not a favorable one for bulling the mar
ket and consequently there was with
drawal of bull support. The situation,
in view of the postponement of the hear
ing, remains in the same condition as out
lined in our letter of last week. We re-
gard the deferment of the hearing as a
confirmation of the Trans Missouri case
The directors of the Jersey Central Rail-
way Company. met to-day and reduced
the dividend rate from to 4 per cent
The books will close on April 10th, and
reopen on April 20. The stock was
dealt in to the extent of 26,5O0 shares.
Price opened l point lower, and declined
to 76A. then rallied to S0&4 and finally
developed additional weakness and closed
773s. Delaware and Hudson fiuctuated
in sympathy with it,
f. r. CUTHBERT & co.
NEW YORk.
NEW YORK, April 5-Futures opened
firm: sales 100 bales.
n n