The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-04
SPOTS ADVANCE SHARPLY
Gains of From One to Three Eighths
at the South.
FROST ARoUSEs SOME FEARS FOR CORN
The Stock Market Ebbs and Flows Under the
Influence Of Conflicting Forces, Read
ing and Other Coalers Continue
at the Front.
at the Front.

at the front.
New York, Sept. 3.-Market closed
with a stronger tone following the gov
ernments report on the cotton crop
BUYERS have been more anxious to pur-
chase ahead and sellers less Wiling 10
accept orders at current prices. NO
open change in quotations. WOODEN
goods are firm with fair demand
NEW YORK COTTON.
New York. Sept. 3.-The cotton market
opened firm with prices 3 to points
higher and following the call for time
continued to work steadily upward in
the face of unsatisfactory cables from
Liverpool. and reports of further rains in
the cotton belt, notably in che central
and eastern divisions. The chief sup
porting factor was belief that the Sep
TENDER government report due at mid
day would show a much lower condition
of the crop than heretofore reckoned
with. Liverpool was not tardy in re-
spending to the great frmness here and
Europe contributed goodly number of
buying orders, believed to be for COW
ering purposes. While there were reac-
tionary movements later in the morning
from time to time, the general course of
the market was upward with Wall Street
a strong and enthusiastic buyer of the
winter months.
Trading was exceptionally active
throughout the early session. The gen.
eral impression was that the government
would give an average condition of 40
or ~ as against S1.9 last month and ia
last year. At IL o'clock the advance
was a matter of 10 to Ia points with
the tone strong. Then came the an
nouncement ga" from Washington, and
instantly the whole market was ia rapid
motion upward with the shorts panic
stricken. Wall Street bulls pressed their
advantage and the public was an eager
buyer. Speculation was very active all
the rest of the day, and despite flurries
of proft-taking with slight reactions, the
general ruling of the market was strong
with November at one time 81 points
above the close of yesterday. The close
was firm and net % to 80 points higher.
Total sales were estimated at 100000
bales The special government rainfall
bulletins gave showers to good rains
over the central and eastern belt. but
the drouth-stricken western districts re-
reported a condition of 80 and Alabama
a condition of "a, with conditions since
the report was made up unfavorable to
the crop in those States, led to fiat pre-
dictions for short crop. Near the close
local shorts were greatly disturbed by
claims that Liverpool will tomorrow adj
vance more than to points due. ow
ing to probable stampede of the Eu-
ropean shorts. The report that Presi-
dent Roosevelt had been seriously in
jured in a trolley car accident, made
only a temporary effect upon the market
at midday. The late kilograms from the
South reported advances in spot cotton
of Is to &c.
NEW ORLEANS COTTON.
New Orleans, Sept. 3.-When the gov
eminent monthly cotton report was read
today, placing the average condition at
g.. factors at once advanced their price.
Sales 300 bales, including 1000 to ar
rive. Quotations advanced Is. Between
the call and the receipt of the govern
ment report there was considerable COW.
ering by shorts and buying for the long
account and prices moved back and forth
feverishly over varying range of about
seven points. Immediately after the re-
ceipt of the bureau report prices at once
shot up about 20 points, and for time
the market was wildly excited, but after
the first paroxysm matters quoted down
rapidly, the market closing steady at net
advances from yesterdays prices of IL,
points on September, rs on October and
n to 2S points on the other months.
THE RICE MARKET.
New York, Sept. S-The past week
showed fractional falling away in de-
mand, due in part to interruption of
Labor Day. AS might be expected. at
this the transition period, individual
operations are on conservative lines. As
soon as the trade have recovered from
the fatigues of vacation, more attention
may be given to the regular routine of
supplying the wants of the millions AS
sortments are fair and under strong adj
vices from primary points, prices are
well sustained.
Reports from the South note harvest
we'll under way on the Atlantic coast.
First new crop, Carolina, was received
August goth, consisting of a parcel of 90
barrels, grading fair. Further receipts
will come in slowly, as planters are de-
voting time and energy to securing the
crop. At New Orleans the market for
cleaned is very strong and trife high
er than last week Sales of cleaned to
date, are far ahead of any season past
five years. There is a Respondent tone
in some of the advices from Southwest
Louisiana and Texas, regarding the har-
vest, while many report large outcome
per acre, others claim prospective yield
so small, that no attempt will be made to
harvest. Incidents of this character,
modifying the usually glad and hopeful
feeling incident to harvest time.
Cables and correspondence from abroad,
report little change from quiet conditions
heretofore noted.
Talmage, New Orleans, telegraphs
Louisiana Crop movement to date: Re-
ceipts. rough, sos, $50 sacks; last year,
1885 sacks Sales, cleaned (estimate(
1859 pockets; last year, 43, $50 pockets.
Market very strong.
Talmage. Charleston, teIegraphs Caro-
lima crop movement to date; Receipts,