The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-09

ing anything it would under present cir !
cumstance perform the best service in
its power.
The improvement in the coal Situation |
has become more pronounced. and the
coal stocks are strong features. Road !
ing, as we expected, taking position nc /
the leader of the group. The acouisi /
ton of the Susquehanna and Western |
by the Morgan party marks a further
step by that interest in making its CON
troll over the anthracite trade an ahso-
lutte one, while it has favorable in
fiuence upon the coal stocks in general
local gas matters have been put in bet
ter shape by the compromise between the
Equitable and East River interests.
While the activity in other parts of
the market have resulted in decreased
attention to local transporta ton stocks.
the bulls in Manhattan, METROPOLITAN
and Brooklyn RAPID Transit are greatly
encouraged by the attitude the new city
administration has taken toward those
properties. An unwarranted Importance
was given early N the week to the ut
terances of prominent railroad men as
to unremunerative competitive rates.
The RAILROADS are however. making
strenuous efforts to remedy this, and are
now maintaining rates strictly, the
prominence Of the Vanderbilt manage
ment iRN this connection giving force to
the belief that that interest is actively
enlisted on the bull side.
Grain and Provisions.-Th position Of
the wheat market has been weaker, Ow-
ing largely to the fear of heavy offer
ings from the Argentine. Condition in
this country remains practically UNI
changed. ThOman's report was bearish,
his figures indicative of a supply of
240, 100000 bushels in farmers hands
cannot be considered excessive. As
Stunning that our own consumption for
the balance of the crop year viii be
170,Ovv,oJU bushels, and that 10000, 600
bushels WI be required for seeding, it
leaves only 100000 bushels for sur
plus. under these circumstances the
temporary adverse working of the fol-
eign markets is not matter for any
serious forebodings. There have been
rumors that a part of the Letter holdings
bad been sold to Europe. While this
is denied, there is probability that the
statements are based upon the eXis-
tence Of negotiations to that end.
Corn.-Specuation in corn has been
quiet, and prices are weak in sympathy
with wheat The outcome of the latter
market viii continue to influence corn,
but an impression remains that continued
| demands and lighter receipts than had
been expected will result in higher
| prices.
| Oats.-Oats have been firm owing to
small stock at the West, and the for
eign demand herto4ore referred to.
! rovlsions.-Provisions have been un-
steady; light transactions, under the
influence of increased stocks and con-
tinued large shipments of hogs.
Cotton.-The market has continued
dull and narrow, with no new develop
ments. Fluctuations for the week have
covered an extreme range of only
points, closing at points decline from
the final dealings Of 1897. The export
demand is good and domestic spinners
continue to increase their supplies.
Southern spot markets are a shade lower
Receipts at ports and interior towns
continue heavy, with the trade closely
watching the developments, as the Jan
uary movement is an index to the course
Of values during the months Immediate
Iy following. The net receipts at ports
| during the first seven days in January
were 2S9, 523 bales as against 157, 287
| bales for the corresponding seven days
/ of 1897 and 214,093 bales in 1895 In
! some well informed circles predictions
are made Of movement into sight for
! January of 1,25O,000 bales, which, if
realized, would probably result in lower
quotations.
After the "big crop of 1894 the lowest
prices were recorded in March, 1895,
! following a heavy january movement.
I These low prices coming at planting
! time resulted in a decrease in acreag s
amounting to 3,250,000 acres, and a rise
! of ~ cents per pound before the ma
/ turity of the July. 1895, option. Is it
not probable that the history of the crop
/ movement and range of prices for 1897
/ '9S will be the same as that of 1S94'9j
! In this connection we quote from the
| Journal Of Commerce." Owing to
the low price of cotton, farmers in the
| South are devoting larger areas to the
production of wheat. The approximate
| increases are: North Carolina 20 per
cent, South Carolina u per cent, Ala
bama II per cent, Mississippi % per
/ cent, Louisina 90 per cent, Texas 10
| per cent, Arkansas D per cent and
/ Tennessee 20 per cent" If the low
range of cotton values has thus early
| had this effect, it can be reasonably
said that if the present prices, or even
lower quotations, are seen for the next
ninety days. very material and inn
portant reduction in the acreage planted
in cotton for the coming season will be
assured The situation would suggest
that for the time being prices may be
subject to some decline, with CORES
ponding greater elevation later on.
NOTICE