The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-12
COTTON SINKS TO
A LOWER LEVEL
Reports of Settlement by
Liverpool Shorts.
ADvICES FROM TEXAS
Loss by Storm Will Hardly Exceed
100000 Bales.
GOVERNMENT REPORT PROVES BULLS
Liverpool Closes Feyersh. New York is Steady
at The Close With, Prices Eight to
Twenty-Five Points Lower.
liouidation Active.
Liquidation Active.
(By the Associated Press.)

New York, September 11.-Good
general demand for staple cottons on
nome trade account and market decid-
edly strong. Numerous lines of brown
sheetings and drills held for advance
OF IA 10 3-8 over recent lowest prices.
Advances of IA to " in coarse colored
cottons. Print cloths unchanged.
More doing in prints. Staple ging-
hams recovering rec LIT decline. AUG
ton sale of 5000 pieces of silk went
off better than was expected.
COTTON.
New York, September 11.-There
was decidedly less excitement in the
cotton market, although the volume
of trading was still heavy and the
action of the market still very lrreg-
ular. Liverpool at one time was IL to
1917 points higher instead of the to
Z points advance expected. Later,
however, the English market gave
way and closed feverish with the net
decline reduced to ~ to 10Ha Gid. Our
market made a reluctant response.
onening at an advance of 8 to 16 points
after which there was a break of so
points on September and p to II
points on the remainder of the list.
eleventh hour public buying, but the
larger local traders were inclined to
realize if not to sell for short account.
Naturally the trade was cautious; as
the news from Texas tailed to give
positive information regarding the
extent of damage from the late disas-
trous storm. Respecting this feature
views here were inclined to he more
conservative than heretofore. AS a
rule crop accounts were fairly far-
orable. BY noon the trading level was
some to 12 points lower as compar-
ed with the closing of the previous
dav. The course of the market later,
was varied, with weakness the mes!
CONSPICUOUS feature. Liquidation be
came active, following reports that
Liverpool shorts had effected set
Element and that the damage to the
crop in Texas by the late storm would
not exceed 10000 bales. The early at
terrioon Government report proved
bullish as expected. but did not long
arrest the downward course Of prices.
The market closed steady S to %
points net lower.
NEW YORK COTTON SPECIAL.
New York, Sept. 11.-There was
marked change in the order of things on
the New York Cotton Exchange today
While early operations and fluctuations
partook greatly of yesterdays sensational
developments, there was quick return
to normal conditions in nearly all re-
spects. The pronounced strength OF this
market last night gave European bears
another twipge of fright which resulted
in sky rocket rise of II to 1912 points
off. o.
York shorts made wild drive for safer
ground on the opening here but before
the demands could be appeased prices
climbed 9 to 16 points. There came a
smash of 16 to 20 points under dash of
the public for profits which had accrued
during the late bulge. With the collapse
came the passing off of the bull fever
and a return of careful trading; there
after changes were comparatively narrow
and speculation failed to reach anything
like the volume recorded yesterday. The
gallery was packed with eXpectant onlook-
ers before the opening, and all the morn
ing the pit below was the object of in
terest to spectators who thronged the
visitors space. Reports that European
s'shorts" had effected a long sought for
settlement took the snap out or Dull
trading in Liverpool as well as here. The
claim was made that the damage to cot
ton in Galveston has been exaggerated.
LIVERPOOL COTTON SPECIAL
Liverpool, Sept. 1.-THE cotton market
was feverish today and prices were IT.
regular but they soon strengthened I'M
der the influence of the advance in prices
in New York and unfavorable American
crop reports The spinners and manu-
xacturers have been buoyed with hopes
that a good crop would insure prosperous
business in 1901, but the diminished crop
prospects and the delay in expectations
from Galveston have aroused grave anX-
bety and are likely to lead to serious
financial difficulties among the trade.
NEW YORK.
NEW YORK, Sept. ll.-Cotton futures opened
,kr