The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-16
LIVERPOOL AND MANCHES1Eh
ADvICES ENCOURAGING.
DRY WEATHER NEEDED IN TEXAS
The Bureau Report Sized up as scar
ish.-The Market Closed very
Steady at 8 to II Points
Advance.

ta 4 noirts on the first call, after which
there was a further advance of 5 to )
noints. following decidedly better Liver
nooI and Manchester advices than had
been looked for. At the best the local
market showed a net gain of to Il
points. At noon the net improvement was
( to 6 points with sales of 10000 bales
TO that hour. Then the bureau report
was announced. the immediate effect OF
which was a decline of / to 2 points. as
the official statement Indicated general
Improvement in condition through the
cotton belt with South Carolina and
Georgia conditions particularly good'
the crop generally clean, insects less nu-
merous. while warm, dry weather Is
needed over the northern part OF IeAas
and showers in other parts. Inc report
was sized up as bearish but there was
a considerable accumulation OF snort III
terest and this. with some lndlcauons Oh
broadening speculation, caused a dls-
position to cover. The market closeu
very steady at net advance OF . 10 IL
points.
e. b. CUTHBERT & CO.'S Letter.
New York. June 15.-(Special.)-Ihe
feature of the stock market to-day was
the strong undertone it displayed IN the
face of continued heavy realizing sales
Inv some of the leading operators VINO
were conspicuous buyers all last week
and large offerings of the bears IN an
effort to bring about a break IN prices
One generator alone hquidated previous
nurchases to the extent of 10000 shares,
principally in st. Paul, Burlington, SUI
gar. Chicago Gas. Jersey Central, West
ern Union and Northern Pacific, pre-
ferred. All these sales were readily ABB
sorbed. together with the offerings OF the
..reactionists'' and bear traders, and the
market closed firm at about last nights
final prices. except Jersey Central, which
shows a net loss of rs, Manhattan,
which is down. Tennessee Coal and
Iron IL. and Louisville, Leather, Gen
,eral Electric. Reading, Pacific Mail,
Southern Railway. preferred, Northern
Pacific. Omaha and Canada Southern,
which are g to y per cent lower 81.
Paul closed Il higher, Burlington Ac'
C. C. C. and st. Louis IA; Lake ohore
u Gas . per cent. The bears endeavor-
ed to make capital out of the death OF
Barney Barnato, the "hafflr hlns, VINO
had the reputation OF beng one OF Ine
largest spectators IN Europe. MS
death caused no disturbance IN the IoF-
seign markets The declines IN the stocks
in which he was interested being con-
fined to within u to / per cent. Inc
mana gers of his estate say that there
will be no forced liquidation OF ms IN
terests in the market. We think fuf-
ther liquidation in the market would De
beneficial rather than otherwise. LONDON
houses to-day took upwards of loooo
shares. mostly st. Paul and Louisville.
WHEAT.
Wheat was dull and easier to-day,
owing to disappointing Liverpool cables
continued fine weather in the west,
smaller decrease in the worlds visible
supply than had been expected and
heavy realizing sales by traders proml-
nent in yesterdays buying movement.
The market started out quiet ana easy
at about last nights closing prices, put
soon developed weakness ana broke L
cent before the end of the first hal1-nour.
Buying by holders of puts" held the
market steady at 6912 during the balance
of the forenoon, but liquidation was re-
newed in late trading and prices declined
u cent additional for July, the option
selling down TO 50 cents. In the last
hour there was some covering OF shorts,
and prices rallied 3s TO Y cent. Inc
tone at the close was feverish and irregu-
lar. with prices showing net decline
of IL cents for July and Y to q for
next crop options.
Corn ruled quiet and steady through
out. with prices about last nights close,
with light trade.
Cotton opened up firm and to points
higher this morning, in sympathy with
an advance of H. points III futures at
Liverpool and spot sales there increased
TO 1900 bales. The improvement in
Iiyerpool was said to be due to favorable
adyices from India and upon trade at
Manchester. The offerings were light.
and the market steadily improved and
closed at best prices, showing net ad-
vance of to 10 points over last night
close. The total sales were $1,000 bales.
The weekly crop and weather bulletin
on cotton. just received here by telegraph
from Washington, says: There has been
a general improvement IN the condlllon
4of cotton throughout the cotton belt, the
Improvement being most marked III South
Carolina and Georgia. The crop is gen
orally clean and insects less numerous. In
Texas the crop needs dry warm weather
over the northrn portion of the State
where growth has been slow and some
re-planting continues, while showers
would help in other portions" Since the
compilation of this report there have beer
showers in the central, eastern anC
northern portions of Texas, while the
temperature has risen materially anc
nights been warm. Good showers have
also fallen in Arkansas, MISSISSIPPI
Tennessee, Louisiana, Alabama, Georgis
and South Carolina, with favorable tenn
prature during the past few days.
+. b. CUTHEBERT 81 co.
NEW YORA.
NEW YORK. June l5.-Futures opened
steady at the advance; sales $500 bales.
Futures closed very steady: sales $500
bales.
Opening. Closing
ne.....'.'................ 10 72T
July .............. I II ~
August. ..........,....,... IL 722
September OBSERVATION-DISCLOSURES. 81 9 So
october .,,...-........... 70 Fl
November s,................. IA 10