The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-25
And at an Advance of Six
to Fourteen.
STEADY AT THE CLOSE
Net Gain Of Twenty to TWenty-iour
Points on Active Months, While
New Crop Months are Two
Points Lower to Five
Higher.
Higher.
1By Associated Press

New York, March 24.-The dry goods
market is of very small proportions and
the outlook for any change is not very
bright for the near future. The buyer is
operating most conservatively on every
thing and is interested generally in spot
goods for immediate delivery, although
here and there the report comes of GER
tain inquiries for fall. which for the most
part are being refused.
NEW YORK COTTON,
New York March 24-The cotton mar
ket opened steady at an advance of to
Ia points under covering and room buy
ing as result of very firm cables, the
outlook for light receipts for the day.
and very much more confident feeling
regarding the financial condition OF local
he uses. For the first ten minutes the
market continued firm, advancing still
further on the active months but the
gains attracted further liquidation and
a little later prices began to sag with
May selling back to 1886 or within points
OF last nights close, while July was
quoted at 14.01 or 8 points net lower. Ii
was evident, however, that shorts were
attempting to cover and there was a par
tlal recovery before midday when the an
rCCncement by Superintendent King tina,
the suspended firm of j. H. Garrison &
Company would pay all claims in full
was received with applause and added
to the conviction that no further trou-
bles need be expected. From this the
market worked upward quite rapidly. and
IN the early afternoon rumors were circu-
lating that the Sully concern would pro-
tn he ut iuIf = ont
ing a settlement on the basis of sixty
cents cash. This rumor received consid
cradle eredence and still further helped
the market with the advance to 1927 for
May and 14.46 for July, net gains on these
the two most active positions of from
Al to 43 points, leading to a belief that
a concentrated short interest conferred in
Wall Street was being gunned for and
was anxious to cover prior to the pub
LEGATION of tho report of the Census Blu
reau. These gains, however, uncovered
mere selling orders and the market in the
last hour was weakened from 10 to 20
points by the offerings of local export
ing house in connection with room longs
taking profits. The close was steady at
a net advance OF 90 to "a points on the
active months while the new crop was
net points lower to points higher
Sales were estimated at 100000 bales
Business during the forenoon was very
quiet and there was evidently little going
forward save ths trifing operations OF
the smaller scalpers evening up commit
ments. But the small estimates dor to-
molrow's receipts at leading points the
continued reports of spot market stabil-
ity accompanied by claims that the de-
mand from spinners was steadily imp~ov-
ing and the belief that the Sully settle
mcnt would prove so much better than
feared, seemed to stimulate the buying
OF PARTIES who were looking for bulllsh
Census Bureau report at noon tomorrow
a. an aid in driving the short interest
believed to be outstanding to cover.
Receipts at the ports today $40 bales,
against 12,907 last week and 12.O14 last
var. For the week $4,000 bales, against
81 ,s45 last week and $3.50 last year To-
DAYS receipts at New Orleans were 1000
Eaies. against 4,545 last year, and at Hous.
ton 1898 bales, against 957 last year.
New York, Mrrch 2I-Cotton spot closed
steady o points adyace;middling uplands 4.ot
gulf t4.75, sales D bales.
Eutt,res odened firm end closed steady.