The news & observer., 1897-07-18
AN EXPECTED RISE
Makes a Better Market All
Along the Line
The WEEK REVIEWED
MONEY ON CALL DULL All AND
~ PER CENT,
VERY. LITTLE COTTON TO BE HAD
But II Goes Down Several Points, Wheat
Feverish and Irregular Recent Rains
Have Affected the Market to
Some Extent.
Some Extent,

New York. July 1.-THE cotton mar
ket opened steady at decline Oh oUo
points ar. further lost 507 points lqul-
dation being active as the result OIL
reported break in the cotton pelt' roi
a time the market was very actlVe WIN
considerable irregularity foHoWlns col-
ficting private advices regarding tne
state of the weather in the COTTON peit.
The market closed steady at about the
lowest point of the day, a net loss OF
Sail points. Sales 6o,3O0 bales.
n p CIITHBERT & CO.'S. LETTER.
Now York. July 17.-(Special)-Cotton
developed weakness to-day on the failure
of the Liverpool cables to RESPOND as
much as had been expected 10 our ao-
vance of yesterday and the government
report of rains at or places III AL
kansas and u inch at Henrietta, IeAas
supplemented by private reports Oh goou
rains at various other places IN THESE
States. The Chronicles crop report was
also loss bullish than had been expected
and there was a falling-off III the Dull
support and outside buying. All Oh
which led to an easy opening, when
was followed by a steady decline OF lo
to IL points from last nights prices. Inc
visible supply in this country now is
2o5 729 bales, including $4,000 bales
on shipboard awaiting clearance. Inc
total stock here of all kinds is only oO,-
47S bales and at New Orleans lo,oIo
bales. 49,
The recent advance in wheat and the
increased st. Paul earnings, stimulateu
the grangers and st. Paul advanced
.S61A which is the highest quotation
reac ched for many years. The strength
of the stock stimulated the other gran
ger roads, particularly Il. l., n. W., ana
Omaha. The Southern roads and the
coalers also showed renewed strength
and activity. The only weak features
were Tobacco and Sugar, which declined
on Houidation. The latter was adverse
Iy affected by private Washington ad-
vices to the effect that the conference
committee having the tariff bill in charge
has decided to report the House Sugar
schedule rates for adoption, instead of
the proposed compromise rates. The
tone of the market at the close was
strong.
Wheat was very feyerish and irregu-
lar to-day, with active mixed trading and
sharp and frequent fluctuations in prices.
In RESPONSE ~ tut tdll1 otiVhS SopiSS'
the market started off active and buoy
ant, and advanced sharply. All the for
eign houses here had large buying or
ders in September and December. Last
nights cable acceptances were large. On
the bulge the crowd bought the market
and Chicago became buoyant and
when some realizing sales and some
late continental selling started a reac-
ton, the majority of the early buyers
turned sellers, causing a sharp break.
Stop orders were reached in large num-
bers, and their execution caused a better
feeling. Bradstreets exports for week
were disappointingly light amounting to
only 1922, ,092 bushels of wheat, against
2,963,O last year. Corn moved inde-
pendently of wheat and was firmer on
the large shipments and private reports
of crop damage.
r. b. CUTHBERT & co.
NEW YORA.
NEW YORK. July I7.-Futures opened
.steady: sales 7,400 bales.