The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-29

CABLES SPLIT The SKY
To Paraphrase the Little Boys Remark
About His Apple Core, There
Amt Going to be Any Stick
About this Cotton
Rocket.
Rocket.
(By the Associated Press

New York, Dec. 2S-Prices OF dry goods
are growing firmer each day. Wide sheet
ings and "A bleached shared in the al
vance registered today but buyers are
still sery conservative. The current
week is always a quiet one and little i,
expected in the way of new business I'M
til after stock taking is complete. Job
bers are buster with clearance sales and
a fair number of buyers is being recorded
from day to day.
NEW YORK COTr ~.
New York. Dec. 2S.-The cotton market
opened strong at an advance OF % to 81
POINTS on excited covering and further
bull support following sensationally higher
cables. The developments in Liverpool
proved a genuine surprise TO the local
trade and from the very start tne market
ruled abruptly wild and irregular. After
the opening there was setback of 10 to
Il pounds under realizing and during the
forenoon the market ruled very nregu-
lar within few points pf that level hut
in the early afternoon prices were again
sharply rallied by a fresh influence OF
buying orders from New Orleans and
all the months reached still higher prices
the highest in many year, with January
selling at 1888; March at 14.1S: May Ut
1926 and July at 14.27. Adding to the ex-
traordinary excitement and confusion it
was reported that New Orleans bulls had
Termed a powerful speculative combination
and had set out to maintain contro! OF
the remainder of the crop ii necessary
with the idea of demanding extreme prices
from the worlds spinners for the balance
OF the season. Such rumors as this in the
already excited state of popular sentl-
ment joined to reports from all over the
South that interior spot handlers We're
having difficulty to secure supplies 9th
er as result of approaching exhaustion
or the bullishness of holders completely
overshadowed apprehensions as to the
far eastern situation and the probable
attitude of mills in respect to this latest
advance.
The bullishness of sentiment was also
encouraged by the big falling off III III
terror receipts while the full movement
to the ports was concluded to mean moth
ing more than continued export deman
though exports for the day were small
Southern spot markets were generally
firm to lie higher and the New York
middling uplands. The advance in spot
spot market was marked up to 1i.l0 for
middling uplands. The advance in spot
cotton in Liverpool was equal to Sc
American points and the strength in flu
lures there was variously ascribed to COW
crng, buying by Continental and Egyp-
tisn operators and manipulation by the
News Orleans bull contingent.
Toward the close there was enough
realizing to drop prices point or two
but the list was finally firm net 48 to 81
points higher. Sales were estimated ar
/, 900 bales.
Receipts at the ports today $3.50 bales,
against $3.50 last week and $685. Is
year. For the week 250, 900 bales, against
254 ,256 last week and sol ,113 last year.
Todays receipts at New Orleans 23,1sS
-hales, against 1888 last year, 'and at
Houston ........ bales, against 9,20S
last year.
NEW YoRF, Dec IS Cotton spot closed
quiet 10 pointe higEe mlddling upland, ii 10
gulf "A 3 sales AGO uales.
futures steady and closed strong