The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-13
Cotton Closed Steady at About
Saturdays Prices.
STOCKS MOVE DOWNWARD
EUROPEAN AFFAIRS A FACTOR
IN DISCOURAGING TRADE.
GRAIN AND PROVISIONS BETTER
!. The Bulls Were il High Feather, Prices
Advancing All a'org the Line
Covering of Short Contractsthe
Order of the Day.

New York, April 1.-The cotton mar
ket closed steady with prices finally =
points higher to points lower, as COM
pared with Saturdays closing hgareS,
after opening quiet and easy, with prices
unchanged IL 3 points lower. Trading
was almost cltlrcly local, although in the
afternoon there was some buying Tor
European account, which caused local
covering. The more war-like outlook in
the Levant eXerted some influence here
but none in Liverpool. Selling was
checked by reports of an increased de-
mand in Liverpool for Manchester, not
withstanding the disturbed political out
look.
e. B. CUTHBBRT & CO.'S. LETTER.
: New York, April 12.-(SpeciaD- Cotton
was quiet and irregular to-day with light
r. trade Prices declined in early trading
on liquidation influenced by disappoint-
ing Liverpool markets, the war news and
absence of outside support. The market
recovered all the loss in the afternoon
trading on covering of shorts on the pub
LEGATION of bullish circular on statistical
situation by Landauer, European, jeal-
Gus of the recent reputation made by
Neiu Bros. We have seen wheat break
20 cents per bushel, in the face of much
stronger statistical position that that oc-
cupied by cotton. There is no possibility
of squeeze in May contracts or a cor
ner in August, even if there is no war,
or the Mississippi river OverfiOws its
banks and swamps the country, because
the leading operators are either dead or
out of the market and the outside public
has lost its money bulling wheat, and
the local crowd is already too heavily
long. The tone at the close was quiet
and steady with price unchanged to
point lower than Saturdays closing. Spot
cotton here and at the South ruled quiet
with light sales, at Saturdays prices.
WHEAT.
Wheat developed renewed strength
and activity to-day and closed strong
within " to q of the highest prices, at
a net advance of rs cent for May and
July in the Chicago market. The firmer
Liverpool and continental markets, ac-
companied by good buying. was consis-
tent with the war news. The govern
ment crop is bullish, the foreign crop
reports sent out by a agricultural bureau
are also less favorable and some of the
heaviest operators recently very bearish,
covered and took the long side for a
turn The wrold's shipments for the
week aggregated 3, 1872, 100 bushels The
English visible supply decreased SS1, 900
bushels and our visible decreased over
10000 bushels. All of which, coming on
the sold-out condition of the market,
stimulated the improvement in prices.
Corn and oats sympathized with wheat
STOCKS.
To-day stock market was simply IA
repetition of Saturdays market from
start to finish. Trading was light and
irregular and very much mixed and al
most wholly Of professional mature.
The war news continued the disturbing
element and greatly restricted buying. 1t
was a very spotty market throughout and
closed irregular and unsettled. Sugar
and Chicago Gas and st. Paul and Bur
lington in which there was evidence
of continued clique support, were
exceptionally steady throughout the day,
but the rest of the market notably the
low priced industrials and the coalers
were heavy under liquidation and showed
declining tendency. The Vanderbilt
stocks were also heavy. The weakness
of the coalers was influenced to q great
extent by continued poor trade and the
mines of the various companies in Penn
sylvanh damaged by floods, the Avon
dale mine, belonging to the ID, and H.,
Co., being abandoned by reason of its
being declared unsafe by the govern
ment The weakness in Tennessee Coal
and Iron was on selling influenced by
district. The total sales for the day
were 157, $50 shares.
II. b. CUTHBERT & co.
NEW YORh.
NEW YORK, April l2.-Futures opened