The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-18
BEARS WERE ON TOP
Prices Scarcely Reached Sat
urday's Closing Prices
10000 SHARES SHORT
OF THE SALES OF ANY DAY OF
PAST TWO WEEKS.
WAS LITTLE FOREIGN WHEAT BUYING
Bond Transactions Were in Diminished Volume
as Were Also Governments and Western
Railroads. Wheat Damage Now EST

as Were Also Governments and western
Railroads. Wheat Damage Now EST
mated Lower Than on Monday. eas.
New York, Aug. 7.-The cotton mar
ket opened easy at decline OF : TO e.
points following selling orders 9 froh
LIVERPOOL. New Orleans and the locai
contingent. But selling became CAUTIOUS
on the fear that the market might n"'e
heen oyersold and become subject " .
sharp upturn on the appearance ol any
bull news. Later, there was s9nie IL
hicting crop intelligence ana lie
loss was recovered before tWelhe y SloI CIV,
THE weekly government report was r"Cn-
err less favorable than had Den 80
pected. In the afternoon. the lioihet
ruled moderately active wltn stne 49, =
contingent in control, but lncllheu " pe
conservative as reports from tne uls
goods district and from ran river W.
o., ,o., j, ing. AZ reported break of the
,s.Snueage', in Aigustin New Orleans
started loeal hquidatiolr late in the DAY,
ond nricas broke to the lowest point.
T1h h market closed quiet and steady at
a
: total sales Of 100000 bales <f
DRY GOODS.
New York. Aug. 17.-The feature OF
the dry goods market to-day was the
presence of very large number OF ous.
ers in jobbing stores. The purchases oh
those buvers have been freer than IS
generally the case at this season Oh the
vaar The sales in nearly all depart
ments of the jobbing stores We're
heavy and buyers semed con-
font TO trade at the some
what advanced prices now prevail
inc At first hands the trade IN poth
coftons and woolens was very well sus-
tanned. Mail orders were quite extensive.
"a fbere was a very fair showing of
buvers of cottons In staple cottohs
tbern have been a few advances report
cd among them gilded edged and full
width "A bleached cottons ana EDWARD
a A Al bleached, which were all aa-
vanced u cents per yard. The day IN
nrin{1 cloths wasea quite satisfactory.
Sellers were firm I'M their position, .Dut
sold 10000 pieces at 22s cents. frlhts
were generally strong without announc-
ed advances as yet.
r. b. CUTHBERT & co.'s LETTER.
New York, Aug. 17.-(Speclal)-Oot--
ton developed further weakness TO-DAY on
renewed foundations and short selling py
New Orleans and local traders ON less Ia
yorable Liverpool advices, with capies
reporting spot cotton there 1-32d lower at
d 3-32d for middling, with sales OF o,Uoo
bales and futures closing easy at lh2 10
2-64d net decline. Good rains at hfteen
different places in Texas, reaching over
/ inch at some points, and heavy Liver
pools selling and liquidation in August,
made a weak market in the afternoon anu
prices. which had rallied a to . points
from the opening, reacted ana nnaliy
closed 6 to points below last night
prices. The total sales were loo,ooo
bales.
Wheat was adversely affected today by
lower cables and denials of yesterday $
crou damage report and falling off IN
the export demand, all of which started
renewed liquidation and restricted FUR
ther buying for the rise. Prices opened 70
TO lie lower in Chicago and Ac to 12c
here. This loss was subsequently, recoV-
cred on buying by bull traders, but later
the market turned weak and steadily de-
clined up to the close, selling off IA to
&c and closing within IA to 3sc OF the
lowest. The increase in the worlds yisT-
BILE supply of nearly 100000 bushels for
the week, larger receipts and continental
selling, and absence of aggressive sup
port. had a depressing effect in the late
trading and accelerated the selling. Ihe
export business here aggregated 70 TO 90
loads and 10 at the outports. Corn was
easier in sympathy with wheat and large
selling by cash 444ndlers, but the fear OF
frosts checked extensive selling and kept
the undertone steady, so that the closing
prices showed a net loss of % 012c. Pork
was strong and advanced 25c on buying
generally.
Stocks The stock market developed a
sharp reactionaFy tendency today, and
prices for the general list sold off i to j "
per cent and closed within a fraction of
the lowest. There was a steady pressure
against the market all day from traders
realizing profits and others selling short
for turn. The market was adversely az
fected by lower quotations at London
and continued foreign selling ands re-
ceipt of 80 900 shares of various stocks
here for delivery forgLoIldon account and
-reports that fully as much more stock Is
on the way. There was not much bull
support in evidence and the commission
buying showed q relaxation and dlspo-
.sftion to secure profits. The tone at the
close was irregular and unsettled. Rall-
road bonds were lower in sympathy and
government bonds declined Il. The reac
ton in tile market was regarded as bene
fetal rather than otherwise. Sentiment
continues moderately bullishs and the
best houses in the Street still have con
fidence in an ultimately higher range -oi
quotations ON the Improving business
situation and the agricultural outlook Of
the country p loJ .ss.is ~ ba9lsba9
'@'t +'NL sai1 Tgt b. -CJyTHBEIeE ~ co.
IQ2 o1s .boo3 EG~ YURA. s39tiu 9dT
+'''s tah 9AVt3d 39y4d .GlW i I'm q tlk4 -
NEW 'Y6RB august Air. Futures opepet
easy: sales 7.T00 bates.
Futures closed quiet and steady; sales l03,
,f35f1a 9UtYoij0Ya8 0openinne. Closing
August. .....,..s... ,,.'.. Z % 81
September .....',.'s ~: ..'s . g g @
9etogsFE.s, q a-e .:.,gt, gEEg aYS 81 L g q q
December. -, ~ 49, 80, 20, - y o.
February . ~ ~ &C. 49, "'*F " ~ ~ saf ~
March ....,s..., ..'.'''''.'''' 2t -
April .......,.,.. -,..,,,.-. ~ iH ~ se.
May..-s.. '';St' e y 03 G"
spot cotton closed qu.etf md dliag eplspd