The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-06

a million pieces of regular print cloths at
price of 2Bc. NJ. C. d. Borden was the
buyer. Cloth market closed very firm !;
no better demand before for heavy cotton
goods and prices very irregular, not being
helped by strength of cotton market.
Other cotton goods departments feature
less. Mems wear woolens and worsteds
dull and irregular. Dress goods quiet and
unchanged.
COTTON.
New York, Sept. Sit was another try
ing day for the bears in all cotton mark
cts, though notably in Liverpool and New
York. The bulls were merciless in their
attacks upon shorts and eventually drove
the latter into a frenzy. Nearly every
thing favored a continuance of the sensa-
tional bull movement started yesterday
morning here and on Saturday in the
English market. The cables were amaz-
ingly strong; there were buying orders
in great numbers from all quarters the
print cloth and cotton goods situation
changed from ore of gloom to an excep-
tionally bright outlook, while Southern
spot markets were reported to be thirty
ing upon heavy demands from exporters.
At the time of our opening Liverpool was
far above an expected fair response to
yesterdays great improvement there.
This at once caused decentralization in
the bear ranks and induced leading bulls
to aggressively operate On the long side
First sales showed an advance of five
to thirteen points with the market Off
cially reported steady. In the face of
a temporary reaction in Liverpool our
market continued to move in an upward
direction during the first hour. Near
midday the retreat of bears developed into
a complete rout and demand from this
branch of trade in connection with in
vestment buying gave the market an ex-
ceedingly strong undertone. After a
brief period of inactivity the market once
more took an upward direction in the
early afternoon and soon surpassed the
high point of the morning. Prices adj
vanced with remarkable ease, there be-
ing practically no opposition offered and
profit taking being light. The announce
ment that 500. 900 pieces of print cloth
had been sold in Fall River and that the
cloth market situation was the brightest
in many weeks, together with the am
nouncement that American sDinnerS were
competing for supplies with the foreign
manufacturing element in Southern mark
cts added to tie woes of overSold oper-
ators and acted as a fresh incentive to
a higher market. 1t was known that
Manchester spinners were in desperate
straights for cotton, that Liverpool stocks
were at an extraordinarily low mark and
that ocean freight room was abnormally
scarce at all Southern ports, thus making
it almost impossible to replenish depleted
stores of European spinners readily. The
market was very feverish during the
last half hour with profit taking proTni-
nent, though not sufficiently heavy TO
undermine the market The public was
conspicuous buyer all the afternoon, on
the belief that Liverpool would show
further improvements tomorrow. The
close was firm at a net rise OF thirty one
to thirty-Six points.
COTTON SPECIAL.
New York, SEPT 5.-The day on the
New York Cotton Exchange was charac-
terized by terrific bull speculation, wild
stampede OF shorts and violent fluctua-
lions Not since the great effort made
last spring to corner the summer months,
which it will be remembered proved a
disastrous failure. has the market been
so active or have prices advanced with
equal rapidity. The start was five to
thirteen points above yesterdays closing,
and was entirely in response to a sharp
bulge in the Liverpool market. 1t grad
ually developed that European spinners
were in desperate straits for raw cotton,
and taat shorts abroad were in pre-
LariouA condition. rendered the more
serious by inability to secure cotton
through scarcity of freight room at
Southern ports As the English market
advanced the local contingent hammer
led away at the underpinning of the
shorts, who were eventually compelled
to- abandon their position and retreat
without the least semblance of reserve.
The South, Wall Street and Liverpool del
uged the market with buying orders and
on this support the prices advanced by
great strides. with the near months lead
ing in the rise. The report that fully
SOC. 600 pieces of print cloths had been
sold in Fall River and a story to the
effect that Southern spot cotton holders
were refusing to do business except OF
pronounced advances stimulated buying
for both accounts in the afternoon. At
the close the bulls were in full control
with the market ruling firm at net adj
vance OF 81 to SO points.
NEW YORK.
NEW YORK, Sept. 5-Cotton futures opened
R.,%,.~ firm