The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-26
vwHEArFLucTuArEs VIOLENTLY
Badly Affected by Fear OF July man'-
,nuIations- Other Grain ana rroV's-
ion Markets Neglected Cron
Unchanged, Oats Lower
Provisions Higher

New York, June 2o.-Ihe cotlon hl"i
ket opened quiet and steady at decline
of las points. The opening prices were
the highest of the day for june july anu
August. The new crop positions al
vanced o63 points after the hrst call
Tho general market comemnced to weak
en- under disposition to "stanu from
under' 'as to July notices. 400
Anywhere from between 5000 to i,Ooo
were mt in circulation this morning. Inc
result was a decline of 3d5 points from
tho best prices of the morning ana OF
10S points from the closing prices OF
Yesterday. July showed decline OF
-no;nts at the weakest interval OF the
market. which was finally quiet at I'M
changed prices to Z points decline, as
.rompared wit hthe closing figures OF the
nrev;ous day. Crop accounts continue
70 have a high favorable average.
F. B .CPTHBERT & CO.'S LETTER.
New York. June 25.-(Special.) w heat
continued quiet and nervous and uncer
tain to-day. with the interest centereu
entirely in the deal in the July options,
and the rumors in connection Win IL.
Gables We're disappointing as they shoWeu
that none of the foreign markets had
RESPONDED to our Improvement OF yester-
day and crop accounts continued faVor-
able. and there was no Improvement III
tho export demand. All of which oper-
ated against the market and held prices
for the distant options from advancing
except fractionally in sympathy with
Julv. That option opened y cent lower
in Chicago at 69k, but on EFFORTS OF
shorts to cover the manipulation, the
nrice advanced sharply 1 cent. At the
close sudden strength and activity de-
veloped and the price advanced rapidly
70 - cents and closed firm at IT'S BID.
COTTON.
This was the first notice day of de-
livery of cotton on July contracts, ana
as usually the case, it was marked by
irregular trading and uncertain huctua-
lions. with general nervousness prevail
ing. The Liverpool cables reported spot
sales of only 10000 bales there to-day
with prices unchanged at 41sd for md
ding. but easier. and this falling OH IN
the demand. with futures there develop
ing weakness and declining 2-64d TO
ACID. together with the circulation of
quite a number of July notices, led to a
weak opening and decline of 8 points IN
Julv. T in. August and 3 to points IN
the balance of the list The crop and
weather news continued very favorable,
and its depressing effect, together with
the absence of outside support, acceler-
ated the selling. Shorts covered freely
on the break and their buying, together
with some bull support, checked any
further decline and caused subsequent
Improvement, the tone at the close being
steady.
STOCKS.
The feature of to-day's stock market
was the continued heavy pressure of
realizing sales by old bulls and local
GENERATORS and commission houses. The
opening of the market was marked by
the continued strength and activity and
the presence of good bulls support and
continued investment and speculative de-
mand led to a broadening and higher
range of values for everything under the
lead of the Changers, Vanderbilts and
Industrials. Advances Of q to IN cent
were general with the latter in Rhode
Island. Manhattan, New York Central
and Tobacco while Sugar advanced rs.
These high prices were more than the
bu Is could resist and the temptation TO
secure profits resulted in general sell
ing movement. the Whole list gave way
under the pressure, and, although the
goed demand contiued, sellers predomi-
mated and except in a few cases all tn.
early improvement were lost and prices
declined " to p below last nights close.
We think the reaction is the best thing
that could have happened to the market
E. B. CUTHBERT & co.