The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-08-24
BREAD AND WATER
To Be A HIGH DIET
If Flour Prices Keep Up
This Giddy Pace.
COTTON GETS AGASP|
One of the Most Exciting Days Since
the Bull Campaign of Last Winter.
Final Changes Less Than
the People Might
Expect.
(By the Associated Press.)

New YORK, Aug. Z3.-Ihe cotton
market opened one of the most excit-
ing days since the bull campaign OF
last winter, strong in tone with first
prices from 16 to 80 points higher
The advance which was in response tc
much better cables than looked for I'M
covered lot of stop loss orders anu
trauinS was exceedingly active. Piles
or long cotton came out at the al
vance. put shorts were panic-strickel
apparently and demand was equal +,
aoSorDlnS all offerings and still ad-
vancing prices. Liverpool steadily ad.
Vanced Following the local openine
ana New Orleans showed firmncss il,
Keeping with the local market Prices
consequently continued to improve
particularly when the Houston est.
mate Tor tomorrow's receipts wa
posted indicating a probable move
ment of only 1,200 to $500 bales. To-
wards the end of the first hour Liver
pool eaSed off a few points and loca
prices hesitated. But as they worked;
back five or six points there was ;,
renewal of active bull support an0
buying on the theor-- that the weekly
bureau report would prove bullish
During the balance of the mornfn.
prices worked rapidly up, uncoverins
more stop orders as they went am
reaching a net gain of Sc points or
August and or from 56 to 90 point
on later months. August touched l.
cents; September 1916; October 10.5s
ana December and January 1851 A
this level the weekly report was read
and proved much less bullish than ha,
been expected. 1t showed in fact tha
cotton mad improved during the Wee,
IT was followed by heavy liquidation
by early buyers and inside CT somt
twenty minutes after it was made pub
lie the market had lost from % to 8
points OF its advance. But there wa.
further covering at the decline anC
with a renewal Of bull support tin,
market recovered part of the loss
During the balance or the session j
ruled very nervous and more or les
irregular being first up and then dow
lis orders alternated., As closing time
drew near bull support was less in evl-
dencc and while longs appeared to b.
about the only sellers the marke
worked off somewhat. 1t closed bare
ly steady net unchanged on Angus
and only 10 to 25 points higher OF
later positions. Sales were estimate,
ct 500,0U0 bales. The weather &C
cording 20 the days reports was yer,
favorable and private crop advices
were no less favorable than recently
The tirmnesS of the early marke
seemed to be due to the firmness II
Liverpool where the situation is feel
ing the ffcts of light old crop suppl
and better trade demand In con
junction with the active support of
uun leaders mere who seemed 70 nav
forced prices until margins had be
come Exhausted.
Receipts at the ports today 1876:
bales, against 1892 last week and
bales last year. For the week $500
bales, against 1902 last week, an(
LABS last year. Today's receipts a
New Orleans col bales. against 1:
bales last year, and at Houston sos
bales, against 8 last year.
New York, Aug. % Cotton spot quie
20 points highsr mddling uplands liz.
middling gulf II Il, sales =. b4ies.
Futures opened strong and closed steady.