The news & observer., 1897-05-06
But so Slightly as to Make IL
FeaturelesS.
MUCH LIQUIDATION
THU TRUST TO GET ONE-FoO NH
DJFFERENTIAL ON SUGAR.
STOCKS RALLIED SOMe
Tho probab,e Defeat of the Arbitration
Treaty Helped to oepress the war
Ia, and Il Closed Irregular and
Unsettled in Tone.

NoSs York. May 5.-rThe cotton marker
IA Tho advantage of better cable ad-
I-;1os than had been looked for and start
"a ,toodv Mt an advance of four to seven
,,o;ntS The opening figures proved 10
ho tho host of the session. except tnat
Nv after call. improved one point, June
noints. July l point. Novem-
hor point and January
,o;n,s From this basis the market
sold off 3 to 5 points. and closed qulet
at n net advance of = to 3 points. Inc
undertone was rather steady throughout
tho session. Crop accounts were more
ar less conflicting, though IN the lll'lh
showing rather better conditions. BUY
;ns for Liverpool account was a feature
of the early market. Later III the session
Wall street selling more than onsel uiie
foreign demand In the afternoon the
market was in control of the local contln-
GENT and showed very little feature.
+ r CJJTHRERT & COS LETTER.
Naw York. May 5.-Wheat opened Is
70 u under last nights closing. with
Nav quoted at 6Ss4 and July 6Sas IN
Chicago on the lower cables, but recover
.,1 this On fine weather and less favorable
crop reports. There was good buying
nv traders, who thought the market was
due for a rally, aided by less favorable
crop reports from Indiana and Ohio. the
market developed increased strength IN
the last hour. CLOSING strong ut net ad-
vance of 1 cent Exporters here took
IL losds, and at Chicago 100000 bushels
cash wheat were taken by millers.
COTTON.
The slight improvement III cotton To-
day was due entirely 10 sympathy with
an advance of lad. to 2-64d. in the Ilv-
erpool market for futures, and a fr1ner
tuue for spot. with sales of 10000 bales.
The advance was established in the mi
tial transactions at the opening, III which
there was considerable demand for both
long and short accounts. Immediately
afterwards. the market relapsed into eX-
treme dullness and the improvement was
barely sustained during the day Inc
trading was on a small scale, and De
came lighter in volume as business pro-
crossed The weather continued all that
could be desired. throughout the cotton
belt, and further fail of half a foot was
reported in the Mississippi river at
Memphis.
That to-day was a good time to take
profits was shown by the fact that Sngar
declined steadily from the start from
LIB. to 1.15A. Tennessee Coal and
Iron lost / per cent, and st. Paul, Gin
cinnati. Burlington and Quincy. Rock
Island, Northwest, each "A. Chicago Gas
was the only conspicuously strong stock
on the list, it advanced / per cent on
buying by Flower and Benedicts, brokers.
on inside information of the declarat ton
of the ~ per cent dividend. which was
not formally announced until the close
of the market. The general market de-
clined on liquidation in the absence Of
support or sufficient buying power to abb
sorb the offerings. The selling was accel-
Grated by the continued weakness of the
Gould stocks, elimination of the short
interest and the sugar schedule, as re-
ported by the Senate Finance Committee
yesterday proving SO unpopular that
opposition is already organizing against
it. 1t is asserted that the turst VIII
get "a cent differenfial protection, in
sctead of as provided by the House. The
probable defeat Of the Anglo-Arbitratlon
treaty also helped to depress the market,
and it closed irregular and unsettled in
tone with only slight slight fractional
rallies from the lowest quotation.
f. B. CUTHBERT Il co.
NEW YORA