The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-02-27
E s s
MAY WHEAT GOES
RUSHING DOWN
Three and a Half Under
Thursdays Finals.
ONE HALF AGENT BACK
In the Cotton Market March. May and
July Make Ne. Gains of Seventy,
Seven to Eighty-two Points.
Sales Estimated at
100000 Bales.
(By the Associated Press.)

New York. Feb 26.-Buyers of dry
goods have been operating quietly and
there is little which can be expected
in the near future of very great increase
The outlook for general buying does not
show any indications of free purchases
but good many firms used merchandise
for immediate shipment. Jobbers con-
tinue fairly active and reports from the
country are fairly satisfactory.
NEW YORK COTTON.
New York. Feb. 26-The cotton opened
firm at an advance of 90 40 points under
active covering and further support from
spct interest attracted by sensahonally
strong Liverpool cables and the continued
l'gEt movement. There was some heslta-
ton as result of fears that notices
il Icing the first March notice day in
the local market, might prove depr1ss-
ing factor but it soon became evident
that all tenders were being promptly
stopped and while the advances led to
considerable realizing. causing some ir-
regularity, the market ruled generally
frrl. The ocal bull leader who rad been
reported a heavy seller recently was
credited with having sent some of the
notices out, it was reported, for cotton
or a very undesirable grade in some
instances rejected by the New England
mills as untitled for their purpose, but
the cotton appeared to be wanted and
soon after the opening the party IN
question was said to be buying Marcp.
May and July. The advancing tendency
thus created was continued and Gcceler
ateI shortly after midday by the y2ry
bullish showing of the weekend state
Elcnt. This showed the into sight for the
week to be under recent expectations
AID a decrease as compared with last
year of about $4,000 bales. This makes
an average decrease per week since the
first of the month Of over the amount the
bulls claimed necessary to bring out q
crop of below 100000 bales and was
believed to point to a very bullish WISH
bic supply statement tomorrow although
the overland to mills and Canada ana
me estimated takings by Southern mills
rar under last weeks figures. The es-
Inmates for tomorrow's receipts also ran
very light, there were rumors that q
large interest had been caught heavily
short and with important spot interests
aggressive buyers the market with only
: aniInportants reactions worked rapidly
upward with March reaching 14.39, May
1913 and July 1471 just before the close
On the positions named. The close was
steady at practically the best prices Of
II e. day or net 2S 90 points higher on
the general list with February showing
he greatest advance. Sales Were csti
n.ated at 100000 bales. The local bull
leader was particularly aggressive buy
er in the ate market with room opinion
indicating that his purchases were to
cover recent sales. The New Orleans
market ruled very firm and many bull
hsh kilograms were received from. there
tending to increase the bullish excite
lcent here which appeared to Dc attract
ing a renewal of public buying.
Receipts at the ports today 12,54t bales
against 1864 last week AMI 2S,247 last
year. For the week $1,000 bales against
5000 last week and 1884 last year.
! Todtys receipts at New Orleans were
2,651 bales, against S,459 las; year. and
at Houston 26S2 bales. against 2,a45 last
year.
NEW YORK. Feb. 2i-Cotton spot closed
quiet, Is points higher, middling uplands
rrNE E,rIn