The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-06-30
L
BUYING UP LARGE
BLOCKS OF OTTON
urpfisingAmountof Activity
and Strength Shown.
GREAT GAINS ARE MADE
Near Months Close From Ten to Thirty
Near Months Close From Ten to Thirty
Nine Points Up.
FAR from ONE TO THREE POINTS HIGHER
Strong Late CabIes, Upfayorab;e Crop New:
and Rumors Of an Advance in Spot Cot
iotl South on Urgent Export De-
mand Helped The Rise.
(lBy the Associated Press.)

New Work, June 29.-Business condi-
tions in cotton goods without change in
any account. Buying of coarse brown cot
tons limNted throughout, but market not
any easier than before. Raw cotton
checks SELLERS are making further conces-
sons No business in bleached cottons
outside dbf small purchases, prices irreg-
ular. CNoarse colored cottons easy. In
prints demand is moderate throughout
GinghamAs quietly steady; print cloths idle
and und hanged. Linens quiet and un-
changedS in price. Burlaps quiet but
rather fiji rmer for calcuttas.
COTTON.
New Y prk, June 29.-From an unevent-
full open ing, the market for cotton flu
lures de- Eeloped a surprising amount of
activity and a remarkable degree of in
herent S rength with the feature of the
day an al dvance to ten cents by the July
option. Urhe weekly statement of Stats
tics from Liverpool was hardly so bullish
as'expect ed while the public and private
7 advices hand before our opening failed
to note ny serious change in the situa-
ton abro ad. The start here was tOlcr-
ably stea dy one with prices three points
higher + point lower. The action of
the mar ket during the first few min
utes led room traders to believe that
the unpr ecented bull movement had about
ran it's c$burse and that speculation would
fall off to the customary dull summer
month bVlsiness. But before 80 a. m.
foreign reports stepped to the front as
buyers q the near months which were
offered with extreme reluctance by local
holders. The South joined in the buy
ing movement, which grew to tremen-
dous PROPORTION as the forenoon pro-
crossed. ] July made sheer advance of
9.9S on ohe hundred and fifty points above
the quotation current two weeks ago and
just before the close sold at 1000 amid
intense Excitement and bull enthusiasm.
August followed with jump to 961, maxi
ing the advance of that option within
two weeks one hundred and twenty points.
Strong late cables, unfavorable crop news,
and reported further rains in Alabama,
Tennessee and Georgia. together with ru-
mors of pronounced advance in spot
cotton South on urgent export demand,
added to the firm undertone of the mar
ket Then came set back under local
realizing which started soon after the
final English cables were in hand. During
the early afternoon the market seemed
in position to go lower, as foreign or
executed while the weather predictions
were exceptionally favorable to the grow
ing crop. But at the opening of the last
hour bull speculation quickened and prices
resumed an upward course with the sum-
mer months far in the lead. The sole
thought A the minds of room traders
seemed to be that ten cents for August
assured and this feeling large
blocks of that delivery were purchased
with great confidence.
The market closed very steady with
prices net ten to thirty-nne points up
on near months, and one to three points
up on far months.
NEW YORK.
INV YORK. June co. Gotten futures orenec