The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-04-06
A Net Decline of Thirty.
six to Sixty-six.
THE SCARE SUBSIDING
That is the Perturbation Reflected
Yesterday in the Union Pacific's
Legal Fight to Retain its
Former Holdings of
Northern Pacific.
(By the Associated Press

New York, April 5.-Dry goods values
are little altered and buyers do not show
any accession of interest at the current
level. A buyer can usually obtain slight
concessions. provided he has a bonafide
order to place, but it is difficult to find
this willingness if he is only making in
quiry regarding what can be done.
NEW YORK COTTON.
New York, April 5-Tne cotton market
opened steady at a decline of six points
steady around the opening figures for the
arst ten minutes or so. after which it
DEVELOPED weakness and worked steadily
downward during practically the entire
session q closing at about the lowest of
the day a net decline OF SO to &C points
with sales Of about 100000 bales. The
initial changes were Disappointing as to
spot cotton and the old crop months,
while the new crop positions were shade
better than expected. Later. however,
Liverpool turned easier with private ca
bles ascribing the decline to selling by
American interests and while receipts
continued very small local sentiment was
affected more powerfully by the talk OF
extensive curtailments in the Fall River
spindleage and also by the continued in
difference of spot buyers. There was some
covering here early and a little buying
through commission houses, while at
first the local professional element seemed
disinclined to sell aggresslvely, owing to
apprehensions that New Orleans bull lead
ers would support the market on breaks.
As the session progressed, however. there
were no indications OF New Orleans buy
ing. and the bears became emboldened
Prominent Philadelphia interests also
were reputed to be heavy sellers. both
here and in Liverpool, and prominent
local SPOT house credited with representing
a Wall Street operator, was heavy. sci
Ter and reported to be cunning for the
weaker long interests in an effort to
catch stop orders. AS prices worked
downward to around 14.60 for May and
1869 for July it looked as though this
object had been attained, for when a re
port was circulated of short time. in Fal
River. prices broke sharply with May
reaching 14.52 and July 14.74. The new
crop ruled relatively steady in the early
trading, but later was affected by better
reports from the belt as to climatic con
ditions. which now appear to be season
able with the exception of rather low
temperatures in some sections. Port re
celptS Tor the day were Hgnt and the eS
Inmates for tomorrow's leading point
made bullish comparisons but export
continued light and the quietness of tn,
Liverpool spot market, which reported
sales of only 1000 bales. was disappoint
ing 70 the bulls, who had been countin,
on better demand from Manchester afte
the holidays.
Receipts at the ports today 1922 bales
against 1898 last week and 1918 las
year. For the week $4,000 bales, agains
55,342 last week and ~, 44S last year. TIC
days receipts at New Orleans were 2,75
bales, against 4,331 last year. and a
Houston 1874 bales, against 1896 las
year.
New York, April 5-Cotton spot close
dull, Is points lower: middling uplands, l5(
gulf ,5.25, sales bales.
Futures opened and closed steady.
Open Cloie High Low