The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-23
# GRAIN AND PROVISIONS.

Wheat Firmnas, dullneSs and an alb
sence of speculative excitement continue
to mark the prevalent conditions III
wheat. At the same time the situation
is regarded as developing more bulllSh
features The latest information from
the argentine tends TO throw doubt up
on previous estimates of the surplus
there, ard offerings of Argentine wheat
are comparatively moderate. Receipts
here continue to he somewhat larger
than was anticipated, and are still ID
excess of those of the corresponding
period last year. Nevertheless. it, may
be argued that even if the most san
guine authorizations in regard to the Ar
gentine supplies and us to the surplus
remaining in this country are correct. q
maintaining of the European and domeS-
tic demands upon the same scale ms dur
ing the hast seven months would point to
a cons. cradle deficiency before the end
Of the present crop year.
Gorn.-Corn has proved something of
disappointment. The export demand
is fair. but it would seem that large
crops for two successive years have re
suited i'll supplies in excess of require
ments, and necessarily detrimental to
bulfish speculation. AT the same time
confidence is expressed in the theory
that higher prices for wheat will he
reflected in the quotations for corn and
that Mt the present level the latter is a
fair speculative purchase.
Oats.-Oats have been dull and. Oh
the whole. featureICss. with Ettle of Il
speculative character worthy Of com
ment. The export demand, however,
continues to he good.
Provisions. Provisions have displayed
more or less strength. and large inter
ests have been working actively on the
bull side The cash trade has been
quite large, hut the speculative activity
on tine bull side creates an impression
that "a reaction is likely to occur, even
if the market is ultimately destined to
see decidedly higher level of prices for
all kinds of provisions.
COtton.-Only indifferent interest has
been shown in the cotton market for the
past week, there being no new develop
nlentS of Importance i'll the general situa
ton. except. of course. the strike in the
mills at New Bedford, Mass, and Bid
deford and Saco, Me, where spindleS
are now idle which uSrmlIy consume
$50 bales of cotton weekly Some fears
are expressed tina the strike may extend
to other New England spinning centres
hut at the mOmemt this does not seem
likely.
AS am offset to these conditions in New
England, very favorable reports come
from other manufacturers. especially in
the South. 1t is stated that in the Car
olinas fifty per cent of the spindles are
running on d1labIe time. In the local
dry goods trade the market shows
.I-.,, Il 4 Al
stronger tone to print cloths at Fall
River. with prices Lice. higher. The
heavy export movement continues I'M
lbatcd, and the unusual amount of raw
cotton going out from Pacific coast
oorts to JaInn is a matter of interest
The contract market has shown con
siderable stability, caused primarily by
the better feeling i'm Liverpool and THE
continued absorption of offerings by a
widely distributed investment interest.
iBear,ish feelings still prevail among
many local operators. who predict q CON
tinar3tiCm Of the present heavy recpints
we'll into March. The recent rains which
have fahcn throughout The cotton belt
haye given a weather market" during
tl,p hast few days. on the superstition
that tbis may mark the turning point in
the voIIvmc of interior receipts ais farm
ers' deliveries have mo doubt fear that
tho cotton being held back in the South
viii SOON come upon the market, owing
n dlbn Iholders becoming discouraged by
the apathy of the trade, the declining
tendency of prices amd the approach of
planting time when money wall be need
ed far ncw farm work. To minimize
This fear, attention is called to the larger