The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-11
All Sorts of Rumors About
Speculative Situation.
C .OSE WEAK, UNSETTLED
Results Of Wild Dry in Cotton Mark.l---Eaor-
nous Liquidation in S ock 1.-The Tone
at the Close Htsitaling and
Unsettled.
(By the Associated Press.)

New York, June 10-The dry good
market is strengthened and although buy
ers are not active they appear NOR
willing to pay the advance than they Ii
week or two ago More buyers are /
town and iobbers have seen some Ina
provement in store business Curtailmen
is talked OF generally and adyices not tt
sell goods are being constantly received
NEW YORK COTTON.
(By the Associated Press.)
New York. June 1O.-The cotton market
opened firm at a decline of seven points
to an advance of four points, the decline
being confined to July and October and
due to rather poorer cables than expected
on the near positions, while the late
months were influenced by continued COW
ring and poor crop accounts. After the
call the market ruled very irregular and
at times tremendously active. Fluctua-
tions were extremely broad and violent.
Almost at once after the local opening
Liverpool turned very firm; New Orleans
was well up to the best level of the sea-
son; the bulls here sent in buying orders
and prices were sent up with rush, July
reaching 1I.E0. august ILL anu SSpbeEt
Der 1858 All sorts of rumors were be
ing circulated regarding the speculative
situation Some contended that the bis
New Orleans bull had practically cornered
all three OF the big markets, and that the
advance, sensational as it has been, was
but fairly started. Others were inclined
to believe that the present upturn is to
furnish a realizing basis and that actual
4 IL. IL
this connection a report was circulated
that certain New England mills were ac-
tually shipping cotton to the extent of
5000 to 10000 bales for delivery on July
In New Orleans and this remarka bic fact
indicating that at the present prices the
mills find it more profitable to sell than
to make goods, had much to do with the
realizing that followed the high point CT
the morning. This carried prices down to
a level of about net to Is points lower
Then came another sensational advance
which forced them back to new high
level for the season, July selling at 1870.
August at 11.89. September at 1880, Dc
tober at 995 and November at $50. Just
before the close the most remarkable fuc-
tuations of the day took place. July at
2.47 was selling at 1902; a rush of buying
orders came in and at 2.59 the month
had scored the tremendous gain of %
points in - minutes, selling at 1890 But
in the minute intervening before the close
the bears hammered the option so vigor
ously that the price dropped to 1906 at
which figure it closed
The general list meantime had display
ed weakness under realizing and bear
pressure, and the market was finally weel.
and unsettled, net u points lower on
June, 10 points lower on July, but to )
points higher on the other options.
Total sales futures we're estimated at
5000, 900 bales.
M YORK. June 10 Cotton spot oSed
quiet; II points IT. her: m'ddling nplands
~ so middl n" gulf II. IS sales . bales
Futures opened oa el far
orUc1 II - closed weak