The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-13
LIGHT FOR COTTON
The Market Was of a Half Holt
day Character.
BUT IT CLOSED STEAOY
STOCKS HAVE HAD SUFFICIENT
ADVANCE FOR THE PRESENT.
THE TRADING LESS ACTIVE
Wheat Developed Steadier Unoer'one
Recovering its One Cent Loss OF
the Previous Day--Shorts LIS
ooead IN Cover.
posed to Cover.

Now York. June 12.-(Special.) 1.-The
trading in the stock market was less
active to-day owing to the general desire
of the room traders to even up their
profits over Sunday. The foreigners also
showed a disposition to realize, and there
was a relaxation in the buying power OF
the cIiuue's brokers and commission
houses generally. Except in the coalers
and some of the low priced specialties
in which there was some manipulation
for the variuos pools, the whole stock
market gave evidence that for the time
being, the upward movement had culml-
mated and an impression prevailed that
the market has had a sufficient advance
for the present. This conservative feel
ing was evinced in the subsistence of the
aggressive buying which has character
lied the trading early in the week ana
general disposition to secure prohts IN
hand. There were no important news
developments to change the situation. III
fact, the crop aud weather reports from
the cotton and wheat belts were decided
~ more favorable and trade conditions
showed a further expansion ana I'M
provement. The general market receded
in the last hour under the weight of the
realization sales, but the net declines
were only fractional and the tone at
close was very steady
& COTTON.
The trading in cotton was light and
mostly of the usual half-hoiday char
acter. The market opened easy at
to 4 points decline on liquidation IN
fiuenced by the disappointing Liverpool
cables and fine warm weather through
the cotton belt, together with the
Chronicles more favorable cropt report
hut later recovered. The market closed
steady at last nights prices with total
sales of 21,O0O bales. The Financial
Chronicle says its advices are more satls-
factory. While the plant is generally
backward as a result of the recent low
temperature at night the weather mas
IatterIy turned warmer and Improvement
is reported from many localities. Ram
has fallen in most sections during the
week, but in some portions OF the guiL
States where the precipitation has been
light moisture is needed. In South Texas
carly cotton is said to be fruiting nicely
but some damage by lice and other cot
ton pests is reported from other points
in the State. There came into sight
during the week 20,416 bales against "a
154 last week and 22,35O last year
Wheat developed a steadser undertone
today and recovered its loss of J. cent
Yesterday and closet steady at the ad-
vance. The principal feature stlmu-
lating the improvement was covering OF
shorts with some moderate buying for
long account of July and September
options. influenced partly by northwest
ern receipts of but 23S cars against $40
last week and 400 last year. London
cables reporting confirmation of crop
damage to the Danubian crop and ex-
recitation of decrease of 1,5O0,0O0
bushels in the visible supply on Monday
and partly on the theory that rally
was due anyhow. The weather conditions
in the northwest and in fact all through
the west have turned very fine and while
this feature was generally known by
everybody, it did not have much effect
on the absence of much pressure to sell.
The worlds shipments of wheat from
the principal countries to Europe for the
week were estimated at 100000.
d. b. CUTHBERT & co.
NEW YORA.