The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-05-26
UPWARD AGAIN
SWINGS COT TON
Net Gan of 10 to y Points
on Near Months
3 TO 7 POINTS On AUGUST
During the Day Prices Fluctuate Free
quently and Violently.
SOME THINK THE MARKET 0gERs0LD
These Buy For Reaction While Many Shorts
Purchase 10 Secure Immediate Profits.
Price and McCormick's Failure
PLAYS no Part in Market.
Try the Associated Press.l

ulliry reported for brown and bleached
cottons on home trade account but ac-
tual business shows little Improvement.
Prices irregular. Denims are dull and
also irregular. Other coarse colored cot
tons unchanged. Prints are quiet and
prices are without alteration. Print
cloths inactive but Fall River expected
to make new prices shortly. Linens are
inactive but steady. Burlaps are dull
and irregular.
COTTON.
New York, May 25.-The great excite
ment that prevailed in cotton circles yes
terday subsidized somewhat today, yet fuc-
tuations in prices were frequent and at
times violent. The market opened with
irregularity. On the first call prices for
the present crop made a gain of seven
to twenty points. while the advance on
the new crop positions was confined to
two to five points. Up to noon trading
continued upon an enormous scale with
the room traders distrusting their own
positions and making every effort to even
up their contracts, following the late
enormous liquidation Of long accounts.
The Southern contingent continued to
sell on the same ground that has domi
mated their action for long time. viz,
the fine character of the crop outlook and
the generally favorable weather forecast.
The bear situation had the further adj
vantage of unsatisfactory private cables
from Liverpool, Manchester and Lancashire
indicating conservatism on the part of
consumers due to fine crop reports cabled
from this side. Reports from spinners
and cotton goods markets in this country
were also of bearish average. The de-
mand on change today was very ac-
tive, largely from shorts to secure profits;
but some of it was buying for reaction
on the belief that the decline of the past
few weeks had placed the market in an
oversold predicament Liverpool parties
traded on both sides of the account but
bought more than they sold. Yesterdays
sensational failure was not factor in
today's market. The trade here con-
siders the market to be in more whole
some condition than at any time for
months past and further sensational fea-
lures of financial kind are no longer
looked for Advices from the South as
we'll as from the English cotton market
also pointed to more treasured feeling.
At the best point of the day May showed
an advance Of thirty-two points while the
to twenty one points. The market was,
finally quiet at net gain of eighteen
to twenty-five points on near months and
three to seven points on August and later
positions.
SPECIAL COTTON REPORT
New York. May 25.-Following the ex-
traordinary excitement in yesterdays
cotton market more pacific times pre-
vailed on the exchange today. There were
no further failures and accounts reach
ing the exchange regarding the outcome
of the settlements of the Price, McCor
mick and Company accounts were of a
reassuring character; although still leav-
ing the trade in uncertainty, the inter-
csts of the firm being SO vast and al
most worldwide. There was a rally of
SO points on May contracts which yester-
day declined IS points. The rest OF
the list recovered six to twenty one
points, with the market finally showing
a net gain of three to twenty two points,
including May. Trading continued to be-
sensationally heavy with the Southern
ers selling on continued favorable crop
accounts while the operations of foreign
ers were heavy on both sides of the
market, though they figured chiefly as
buyers. The local contingent showed a
disposition to even up their accounts for
an unprecedented view in advance OF re-
entering the market on a large scale.
NEW YORK
NEW YOeK May 25.-Cotton futures opened
irregular to % points higher.
Cotton futures closed quiet.