The news & observer., 1897-07-30
And Advanced on Continued
Good Buying.
WHEAT BECAME FIRMER
STOCK MARKET RULED flhA
AND SHOWED NET GAINS.
PROVISIONS FAIRLY ACTIVE AND HIGHER
Southern Railroad Securities Were Exception
ally Strong--Good Crop Prospects
! the Cause,


Now York. July 29.-The cotton mar
1.ot oncned 1M3 points higher, further ad-
vanced 2@12 points and closed STEADY a'
q net advance of 4015 points. A favor
able turn of the Liverpool market anu
pronounced strength in spot cotton We're
the chief supporting factors. during tie
fore mart of the session the local scalp-
inc clement was in full control and but
al;o,,+ cbonges were noted. Late in the
,norning. however, good buying orders III
4l,o iato rnonths were received from New
O.,aane and LIVERPOOL on which prices
sharr,Iv advanced. Trading in the after
noon was spasmOdlc but lam! saot
.,.;t,, +otal transactions for the day FOOT
ing up $4,000 bales. A feature VI th an
DAYS transactions was the uhueu"i
mand for August contracts os
parties. who closed out snorI ~,
rrhe generally better condition OF tne oi!
goods and print cloth marhe's 'en'N y
Strengthen bullish sentiment.
=. B. CUTHBERT & CO.'S. Lhllhn' M
Now York. July 29.-(Special),Cotloaa y
, N,o,o,od further strength to-day anu
Ss.nce5 ON continued good pu!lhs =, ~
,;ss;on houses in the near nAon'n1
aan eo tho lead of August. wnicn ""s
unu. aomand ON account OF It's sllone
ahos. ~ 20 snot cotton. The market Was wa,
fe.a ',n+ad Inv spot sales at LNeipoo'
"d 70 14.OOO bales WIN Piise'
incie' srm AID for middlng, anu ~,
theie o,ns;nc 1-64d higher. The Wea'n.t ,t
1ules a, renorted rainfall IN leAas' IA ~,
bureaa scattered and local that 1t nau
was CT Resides this, the weather p,e
d;ctions were for generans ,ar and TO-
sa;r weather in the state 80 esc;a1s said
,norrow. and the bureau -, oxcept
+ha drought had not peeh ul ,a hera was
Of n few points. Spot cou.on oa 1-16 ia
srr,ar and prices were ao'ane of 2O5
@ oonts for middling. on purcii"9T Toort nj
a,olos for home consumptlon. ha,nmer.
4ha onening. when the traueis arsnra ns "a
"a the market, there was no p.toodv a,
coll The closing tone was .soI;ned tc
a. advance, with sentiment ~ ~ +he
~ hull;sh on the statistical posiaio tbe
.'.nn,v and demand sltua tion ''n'
s'u,I1;sb supi feeling in Wall street. I;v.
Wheat was firmer to-day Oh IL fara;cn e,
,ool cables and less favorapie ,org.
dr;ces together with reports ol onts a
arnort business for nearby sh4p n
ssrto market was inclined TO oe, 60 b1
I1.orgbout the forenoon, on h1e
,oooI traders based on the a.Sls artb
oroT, outlook and continued iai xvher
,I,ostern receipts of new whea.. "a r.
4,,o exnort business was ahhu.n ,,. ,.res
tho afternoon. however, tle sT.n horn
s,ra ceased and the market raliieu ran ts e.,
- and closed firm at Us to IA cen'' TN, Nh
nocember and unchanged LOT 'u.i 40
iotter option was affected by .hg
oa;nts of new wheat and renewed ~, el,
do+;on of long contracts. Corn was Il, a., -,
or in sympathy with wheat anu w. VI.
.raather in the West, and closed aC ne
ADVANCE of u to rs cent. froVlslon'
wore also firmer and advanced on cove
mo Of shorts and buying by packers.
Tho feature of to-day's stock marke
xras the continued good buying IN th'
aow.nr;ced miscellaneous railway snare
and Industrial companies for potn Spec
,,Io+;va and investment account 1her'
VIC good buying in the Changers aus
b;gh-nriced industrials and coalers. pu
+be selling pressure to take pronts wa
heavier and more extensive. Inc re
8 ,,avad advance in wheat and better opln
;xn in the London market in regard u
tbn outlook here had a bullish eHec
upon sentiment and the general marke
ruled firm and scored further net ad
vances throughout the list. In the lat'
trading. however. estimates OF propapl'
gold exports of $2,0OO,OOO to s2,ooo'oUs
by Saturdays steamers led to realizin'
sales by the room traders and the pears
took advantage of the situation ana nam
mered the market, which resulted II
general concessions from the early mgl
level. The selling pressure was mos
pronounced in the Changers and Coalers
which stocks closed with net declines.
T.. B. CUTHBERT & co.
NEW YORX.
Nrw YORK. July 29-Futures opeDe
steady at the advance: sales 3.aU bales.
Futures closed steady; sales $500 baes