The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-16
MANUFACTURERS
100000 BUSHELS OF WHEAT SOLD
no GO TO ARGENTINE
TALK OF HARMONY AMONG STRIKERS
Hasa IGood Effect on the Coal Market and
80 .e,,eas lees~ A ---s, a--ss
AFFECTS Other Things to Some Etent--Thei
tt Drought in Texas and Arkansas " s@-E.g
EEIAffects Cotton at Home ZIP
r-srg S3sTrsssS II kh-naI
IS ssSslassas anu Hufodus

New York, July 15.-The cotton mar
ket opened firm with prices higher by
Gao points. There was a further adj
vance of lac points with the market
finally steady at net gain of 205 points.
Total sales futures 129, 800 bales. The
early phases OF the market were gener-
ally bulIish. the English cables showing
decided strength Considerable Of the
cotton bought here this morning was
for Liverpool account Wall street and
New Orleans parties were moderate buy
ers. Shorts were disposed to cover and
the forenoon market was exceptionally
active for these times. Further reports
of unbroken drought IN Texas and Ar
kansas and the increasing difhculty IN
getting spot supplies were al ehe DOT
tom of the rise abroad as well as here.
following the moon call the narket
developed an easier feeling as the result
of realizing by longs. Local sentiment.
as a rule, continues very firm with eV-
erythins depending 81 the weather as
10 thief utue course sf the GaRket.
B.B. GUrHBERR & CO.'S LRrTnR.
New York, July 15.-tSpesiall --0ot-
ton opened 10 frm and advanced to
Ii points Oh active hsyine fos beth long
and short account sn Grner and higher
Liverp>ol, with spo< eottsa 6hsre b good
demand, prices Aardeaiag frea 97S2d,
for nliddIiHg, with sales - hu6 1000
bales and futurss 1K higher and weather
bureau denying any rain had fallen sn
Texas yesterday, as had been extensive
ly reported by the bears. In fast, the
weather map showed that the only rain
fan in the cotton belt for the past TWEEN
ty-four hours vas light showers at Ar
Iington and Milan. Tenn. Elsewhere
the weather Is clear and bet. Roalizing
sales by local longs and renewed selling
by bears in late trading led 10 IN easier
market and caused q reaction of to Z
points from the highest. Spot cotton
here was firm and good demand at 7 1916
for middling The total exports APP
proximated 5000 bales. Good demand
for cotton is reported at all the principal
ports and seaboard centres, particularly
Southern manufacturers whose stocks
are very light and insufficient 10 carry
over to new crop. Our private crop &C
counts are distinctly unfavorabie, indi-
eating considerable shedding and suffer
ing from lack of moisture.
Wheat developed additional strength
and activity today on continued good for
eign demand. One shipper here sold
10000 bushels to go direct to Argentine.
Wheat is needed there Tor seeding, not
for consumption. as they have shipped
all they had out of the country. There
were also rumors OF bids in the market
for Australia There were lot of bids
current for Liverpool and Paris. and ten
loads were contracted fer and twenty
five loads of corn. Crop and weather
reports were good bst we're offset by
export business and the market closed
at "a cents for July aaA 6SK Cor Sep
TENDER in Chicago. Corn rsled duh and
featureless. Provisions were steadier on
covering Of shorts aaa light offerings.
The stock market showed no new
special features Of particular Importance.
The opening Of the market was firm and
moderately active under bullish influence
of better cables, bullish sentiment on
wheat, based On the foreign demand. and
talk of harmony among the coal and inn
pending adjustment Of miners strike.
There was good buying Of the eoalers,
particularly Susquehanna and Western
preferred, which advanced ~ points,
but later broke 3 per cent, on realizing
and closed at net loss Of y for the day.
The Changers were helped along by the
advance in this stock and some moderate
foreign buying, together with bullish
sentiment ON wheat and favorable crop
accounts. Sugar was moderately active,
but was heavy throughout the session,
on mixed trading. The price declined
2 per cent to 1.325s in early trading, but
rallied / per cent on covering of shorts,
based en- renewed talk of compromised
tariff rates being adopted. The general
market closed steady to strong, at u adj
closin.
X. b. CUTHBEKT & GO.
NEW YORX.