The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-24
CONT|NUEDSTRENGTH
Was Shown by the Stock
Market.
PROFIT TAKING SALES
RAILROAD STOCK IMPRON ED b1
CROP PROSPECTS.
TRUST PUTS UP PRICE OF SUGAR
Tobacco Trusts Stock is Benefited by he
fusaI of the New York Governor to
Permit Special Term of Court
TO Try its Officials.

New York. July 23.-The cotton mar
ket opened steady with prices two points
higher to one one point lower. Ola crop
months showed firmnesS on the nrst c'h'
and continued to lead throughout lhe
sission. while the later months at pest
showed an advance of three TO hVe
points. The market was finally STEADY
at a net gain of one to eleven points,
CHIEFLY on the old crop positions. Inc
advance in August was varlously at
tributed to bidding up for the pur-
pose OF making a better selling OASIS
for the new crop months. demand
TO coryer short contracts also partlally
axplained the rise. In the general way
the market was made firm by unsatlsfac-
torv and conflicting weather reports, IN
dicating a serious need of rain in central
and southwestern Texas and possibly
TOO much moisture for the Atlantic
States. Pending further developments
as TO the true situation in Texas traders
ON both sides of the account are dls-
posed to be conservative.
r. B. CUTHBERT & CO.'S LETTER.
New York, July 23.-(Special.)-Cot-
ton was moderately active today ana
ruled firmer and higher on more dlsposl-
ton to buy under the influence or spot
sales of 10000 bales at Liverpool ana
1-64 advance in futures and more ram
being needed in Texas to break the
drought there. The near months were lh
good demand owing to their strong rela-
tions to spot cotton and the VIDE diner
ence existing These options closed III
points higher for August and points lor
September. but the other months alter
advancing 3 to points, receded OH re-
newed local selling in anticipation OF
favorable crop report by the Chrohic!e
tomorrow and closed at last mght
prices. Spot cotton was III falr deHahu
here at 1916 for midling, and total
sales of $50 bales were made to splnners
on that basis.
Wheat suffered further setback to-
day. owing to a pause in the export ue-
mand. All the outside news was buiilsh
Int il appeared as though the Foreigners
have already bought enough for lmne-
diate requirements. There was some TOT
eign buying at times, but as the 1orelsn-
ers were good sellers on balance ana uhe
hill crowd here and at the west ilqui-
dated considerable of their holdings, uhe
undertone became easier as business pro-
dressed and at the close the maj pricee
wore within II of the lowest, net decline
of 13Moc from yesterdays ana Wedhes-
davis final quotations. The liquidation
was the hest thing that could nave nap
nened 10 the market. which was rapidly
getting top-heavy. There were twenty
sbrae loads wheat reported taken mere
and at the outports for export. The visl-
lilo sunnlv on Monday is expected 10
show decrease of 100000 to oO0,ooo push
oIs Corn ruled dull and featureless
throughout the day.
Stocks.-The stock market showed con-
timed strength and activity throughout
the day with good buying by commission
bouses and the leading operators. Inc
Washington advices from the most reli-
able sources were to the effect that the
tariff bill would be passed late tonight or
tomorrow and would be signed and be
come a law Monday morning. The en-
gagements Of gold for exports fell far De
low expectations. only 100000 being en-
gagged for tomorrow and $4,000 on Tues
day. In the early trading there was a
good deal Of proft-taking sales, which
caused quite sharp and frequent tiuctua-
lions. This movement continued up TO
the last hour, with more or less hammer
ing Towards the close the price move
ment assumed steady upward tenden-
cy. and the closing was strong and gene
rally fraction higher.
e. B. CUTHBERT & co.
NEW YORA.
NEW YORK. July 23.-Futures opened
steady; sales 800 bales.
TT, or dy.C oil hal ac