COTTON CLOSES AT
TWO TOJENHIGHER
And Novemberand December
Lead the Advance.
A BULGE IN MANHATTAN
It Makes a Net Gain of Over Five Points on
Transactions More Than Fxceeding
Ont-Fifih of the Day’s Total
Oparations.
(By the Associated Press.)
New York, Nov. 17. —Domestics in the
cotton goods division continue quiet in
all departments. Limited supplies on
hand keep prices steady. Print cloth
quiet and wide goods barely steady,
staple prints in good demand for spring,
fair demand for new lines of light fancy
calicoes. Cotton hosiery and under wear
ere In moderate demand at steady prices.
NEW YORK COTTON.
New York. Nov. 17. —The cotton mark
et opened firm at an advance of 7 to 9
points. After the first call, December
contracts advanced front 8.07 to 8.11;
January from 8.02 to 8.05; March 7.95 to
7.06; May from 7.06 to 7.97, and July
from 7.99 to Bc. The early impovement
was due chiefly to a better class of ca
bles than had been looked for. Liverpool
reported an advance of 2 points on spot
prices and 2 on futures as well with bull
ish news from the southwest, claiming
damage to the cotton crop front an ex
traordinarily heavy rainfall, while the
weather was cold and cloudy, forbidding
the further development of the crop
while such conditions lasted. On this
news shorts covered and there was con
siderable investment, making an active
market. Later, however, the market
gave way C to 8 points on the more ac
tive positions. December sold down to
8.02 January to 7.97; March and May to
7.90, and July to 7.95. Throughout the
decline there was a good class of buying
and when this phase of the situation be
came apparent there was a renewed cov
ering demand and prices again took a
higher level with the market finally
steady at net rise of 2 to 10 points, dis
tributed as follows:
November points; December 10; Jan
uary and February 8; MarcH 9; April 4:
May 7: June and July 6, and August 2.
The demand was accelerated by gen
erally favorable reports from the South
as to the demand for spot cotton. N\<
market in the country reported any
change in the price of spot cotton, while
some reported increased interest on the
part of spinners and exporters. The
statistical position of cotton is the basis
of considerable investment in cotton at
tjiis point in connection with the evi
dences of record consumption. Today’s
sale for future delivery estimated at
300,000 bales.
New York. Nov. 17.—Cotton futures open,
eu firm.
Cotton futures closed steady.
Open- Clos.
November " 02
December 8 06 8-OV
January 8.0 1 801
February ?.*4 7.93
March 7.04 7.95
April 7.95 792
May 796 7.95
June ' 97 7.96
* July 7.99 7.98
August 792
Spot cotton closed steady: middling un
hands 8 30; middling Gulf 8-55; sales 2,090
bales.
LIVERPOOL.
Liverpool. Nov. 17 -4 p. m Cooton - Spot
In fair demand; American middling
fair 4.86; good middling 4.50: middling
4-47; low middling 4.32; good ordinary
4. 0: ordinaey 4 08. The sa es of the d*y
were 8.000 bales, of which 500 were for
speculation and export, and included 7.5 )C
American. Recipts 3,000 bales, including
2,400 American.
Futures opened and closed quiet.
American middlieg, g. c. o clause:
November • 4.32
November ami December 4.28
December and January 4-27
January and February 4.26
February and March.. 4.26
Mar hand April 426
April and May 4.26
May and June 4. :6
Suite and July -...« 4.2^
July and August 4 26
NEW ORLEANS COTTON.
New Orleans, Nov. 17. —Spot cotton
quotations unchanged.
Futures opened up 7 to 8 points, but
the bulge was short lived. The prediction
of warmer weather turned the tide of
sentiment and checked the buying move
ment with the result that prices began
to move on the down grade. Later along
there was another sharp upward turn,
the board at the close showing net gains
of 8 to 9 points compared with Satur
day's closing.
New Orleans,La. Nov- 17- - Cotton futures
closed steady.
November., 7-68@7-70
December 7-74@7-75
January 7.7 *8
February 7-80©-7-8?
March QB4@7-85
April. 7-85^.7.87
May 7-88© 7> 9
June 7-90© 7.92
RALEIGH SPOT COTTON MARKET.
Receipts 50 bales.
Receipts this day last year 52 bales-
Prices today.... 7*©7 V 4
Prices this day last year 7(4
Receipts this season 8,308
Recipts last season 4,291
OTHER COTTON MARKETS
I’OKT. TONE. j MID. | BECK IPTS.
•a'vestoo ...... quiet 7 1:1-16 14.459
N’orfolk r.eadv j 4 560
b’altimore j nominal 7' 1 *
Boston. | quiet, 8 :Hi 1(K1
S' iiiningtou. ~..1 firm 7* 2,179
’bitadelphia.... steady 855 42
avaunan j quiet 7 9-16 12 804
'ew Orleans.... firm 7* 17.404
-'■-bile | dull 7* ■> ;ioo
.if!oiphis. ! firm 7* 7 762
Augusta ..: firm 744 l.flftu
C harleston \ quiet 7 9-16 1.137
Cincinnati , quiet 8 3»5
L0ui5vi11e.......! firm 744
St. Louis... ... | steady 74* 600
Houston .... steady : 7 a 15 918
New York .... steady | 8:10 ;>26
Pensacola . ..
’ thin Pass and
Pjrt Arthur ....!
rjnswick . ..
SEABOARD STOCKS AND BONDS.
Baltimore. Nov. 17. - Seaboard Air Line
common go*.©26*4: preferred 44*645.
Bonds—Vs. 84 a s ked.
GRAIN AND PROVISIONS.
Chicago, Nov. 17.—Grain markets were
active today and higher prices ruled,
December wheat closing 7 sC. higher. De
cember corn 2e. higher, and oats ’*e.
The Aetna Lite Insurance Co.
IS MAKING A SPECIALTY OF
“JEtna 5 Per Cent. Gold Bonds.”
Their values are larger and their rates lower than any others.
The 20-year Endowment 5 per cent. Gold Bonds
of the Aetna Life offer greater advantages than any other investment, carrying
at the same time absolute protection.
For information address
Chas. L. Van Noppen Superintendent of Agents.
J. D. BOUSHALL, Manager,
Raleigh, N. C.
higher. January provisions closed 12 Vi
to lTVfcc. higher. >.
Leading future, ranvea as follows :
(OPENING. BIGGEST. | LOWEST. OLUX'MG.
Wheat. 11
Dec, 7‘4*©7:i 77* 72*4 7.1 4
Mav 75*©777„4 7 „ 70* ,7544 76*©ro*
Corn—l I
Dec, Uhi'4(o 54 \ .V* ~n
May ,41*© 12 \i%to H* 41* 4?? i
Oats— | | I
Dec 2" 14 '3O 2914 :K»
May.. ill's® UH-n*
Pork— | |
fan.. .. 15 17# I>:’s 15 17* 15..12’4
May...... 14 40 H 4 47* 14 40 14 47*
Lard
Jau ft 10 9 17(4 9 07(4 9 17*
May . 855 8 62*4 852 * 8 62*
Ribs—
Jan.... 792 * 800 792 * 8 0,1
May 7 70 7 7.5 7 67* 7 75
Cash quotations were as follows:
Elour was steady: winter patents $2.40©
3.50 siraights $3.20©:!.30: clears $2 70©.3,00; • o.
spring specials 4.30; spring patents s3.4Off/3.70:
Jo itraigtits $».90@J.‘2(1 6 nets *2.2 ff?*2.75.
Wheaf—No. 2 spring 73(0 74*; No..'! 07© 7314 ;
N- . 2 red. 72*©.73. Com—No. 2 55: No. 2*
veiiow 52*4. uat-—No. 28'4; No. i 2, white
85; No. 8 white 29*fff.'S2. Rye—No. 2, 4914©',0
Bariev- good feeding .;5© .(8; fair to choice u alt
ing 43©,58; No. 1 llax *etU $1,11: No i north
western #1.20. ("'me timothv seed $3.65. Meat
pork per bbl., IG.S7-4@17.00. Lard, per 100 lof>.,
11.15. short rios sides (loose) slo.oo©
10. Pi. Dry-se'fed shoulders (boxed> 9.50©9.67*;
short clear sides (boxed; slo.ooffi 10.25. W hisaey
#1.32. Clover contract graae. $10.75.
NEW YORK
New York. Nov 17—Flour mnrcecivi;
Minnesota patents #3.85fft4.10; do. bakers
s3.lsff/2!.35; winter straights #3.(50©3.93: winters
patents $3 0(1©.3.90: low grades $2.9.V/< 3.15.
Rve flour quiet .‘good $3.15©,3.40; onoiceto fancy
ssls© 3.40
Coru meal fl m: yellow western sl. 8, city 1.25;
brandy wine $3.15 0' 3 55,
Rye steady; No 2, western 59; State 56
Barley steady; feeding 41,<oaittn 51 ©sl*
o«rley malt quiet western 65©'.(Ki.
Woea'— pot steidy Nc. 2, red, 7714. Options
M&fch 8l?s; May 80; October December 79*
Corn-Spot fir ts No. 2, i!s>. Options—.jau
u rv 52'4; February... : May 47*: Octo er —;
November 61*: December .7*.
O ts Stot firn ; No 2 :V>. Opth ns—May -
Oc’oLer—; Deceu ber B>>'4.
B • ouiet: f-itni., #l*>.uu© 18.00 mess $10©;10.50:
p eke* $14.U(1@15.00: heel bams #20.50©,21.50.
cut meats q let: pickled lx* lies sim@l2*.
pickl d tboiluers 8*; piekl d lixins #l?ff/12*.
Lad stroii-. weserra cb-amed sll.l i© il.-5
Nove,nber 1C.80; refined fisineft; South Ain<ri:»
11.75: to tl.-e Continent 11.40; <*o npounu 7,*(3,7*.
Porkit.-ady; L.rrilv $19.5); snort ue.r $21.00
© 3.00 m°ss slß.oo</ 18.. V.
Taltow dull; city per package G*@G*; coun
try packages lice; 6*©6>(.
Rosiu firn :stra!iieu ccmiuon to good, $1.7531.77
Turpentine steady; at 53©54*.
Rica firm; domesuc. fair to extra 4'4@6X;
Japan 4*<g.4" a , >
Cottee —spot Rio quiet; No. 7 invoiece 5 1-16:
mild quiet; Cordova 7*©;l2.
Sugsr—raw was firm: /air refining 33 1*1: cen
trifugal, 96-test, 3 11-1(5; refined sugar steady;
mould A 4.80; stauuara A 4.70; confection
er’s A 4.30; cut loaf 5.05; crushed 5.05 powdered
4.55; granulated 4.45: cubes 4.80.
Molasses stea ty mew Ormans, open kettle
good to choice. 33©,41.
Better irregular; extra creamery £7; western
areamerv. iresu 22* imitation creamery 14© 18:
factory 16© 18; tstaie dairy 19@25.
Cheese q L t: full cream, small colored, old.
12* ; uew 12*: small, white, od. 1244: new 12%
Eggs stea iy; avenge best 28© 28*: Mate and
Pennsylvania 22©.24 western, caudle 1. 21*©2.;
refrigerated 19©'21; southwestern, 16© 17.
Potatoes easv • .ersey 1.75©2.05: New York ami
western 1.75© 2.00; Long Island 2.00Ji2.!Xt;
south jersey sweets $1.7.5©2.75.
Peanuts quiet; fancy hana-picked E©s*; do
mestic 3*@o*
Cabbages easy: Norfolk, bariela ——; Long
island, per 10J, sl.sj@ 1.75
Freights to Liverpool; cotton by steamer 12c;
grrain Id. \
Ootton seed oil wa9 firm. Prime crude
barrels f. o. b. mills, 27 54 ©,28; prune summai
yeiiow 35; otf summer yellow 31*; primelwhite
O': "time <*inter yellow 4C©lo*; prime meal
$27.00©.28.00 nominal.
BALTIMORE PROVISIONS'
Baltimobk. Nov. 17. H'loqv steady: Winter
extra 2.80©3.00; do. clear ;120©3!.:!0; do. straights
#3.30®3.50; patents $3.70© 3.85: spri «g 3 ear ilOffi
330; bpriug straighis 3.55^.3.70; Sp-ing patents
3.7524.0'.
Wheat strnr: spot and November 76*(g,7GK
December 76*@76 q ; No. 2 red —; steamer No
2 red 6ft*: Southern wheat bv sample 70©76*.
Southern on gra e.
Com unsettisp; spot 65 new or oil, November
61&6D4; the year 4»*©,49X; No. 2 mixed--;
So'/theru white corn 53ff 166.
Oats firm ; No. 2 white, uew, 36; No. 2jjtnixed,
new, 32*©;3?.
Ayi firm: Nc. 2 nearbv, 56*; No. 2 western
57*
Butter firm: fancy imitation 20©22; fancj
creamery 26@:7; fancy ladle; store packed ..
Eggs firm; iresh 16.
Cheese firm: large 124(@13* ; medium 13@]3*:
small 1 '*@l3 Vs.
Sugar (irm, line and coarse granulated 4.51*.
NAVAL STORES.
Wilmington, N. C. Nov. 17. - Tupontiae
nothing doing at 499 ; receipts 10.
Rosin firm at sl. 5© .50; receipts 704.
Crude, firm at $1.7.‘@3,00; receiptc barrels.
Tar firm at $1.40; receints 77-
Savannah, Ga Nov. 7 Turpentine firm
at 50* bid; receipts 779; sales 21s; exports
45’.
Rosin firm; receipts 2,546; sales 5,287;
exports 5.8 i 4.
Quote A. B. C. 51.40: D. S'.4o; E.
S' 45; F. $1.50; G. Si.6o; H. si.Bo: I.
2 05- K. 82.55; M. $3 00; N. S 3-50; WG
53.75; WW S 1.15.
Charleston. S. C., Nov. 17.-Spirits tur
pentine firm at 49: receipts ..; sales SO;
exports . ...
Kosin firm receipts . . : sales 200: ex
ports ....
Quote a. B. 1). E. 5i.35: F. 5’.45; <i.
$.155; H, $1.75; I. $2.00; K. $2.50; M, $3 00;
N. $3 50; WG 3-75: WWS4.IS.
NEW YORK MONEY.
New YORK. N0v.17 4p. m Money on call
firm at 3*© 6 per cent: closing bid and otter
ed at 4 per cent; last loan per cent
Prime mercantile paper s*@hper cent; ster
ling exchange steady with actual business in
bankers bills at 4.87 for demand at
483 for (0 days Posted rates 4.85 and
*.BB Commercial hills 4..83*©4.83%; Bar
silver 49- Mexican dollars 39. Government
bonds easier; State bonds inactive, Rail
road bonds irregular
STOCKS AND BONDS.
New York, Nov. 17.—The stock market
presented few, if any marked character
istics today. Although London prices
showed improvement, the opening here
was decidedly irregular. This probably
xvas caused bv the liquidation of those
who withstood last week's depression,
as well as by the profit-taking of specu
lators who bought during that same
period. These uneven conditions gave
way to a better feeling before the end
of tlie first hour, when it became evi
dent that certain vague rumors of
“trouble” were unfounded. The feature
of the early trading, as well as of the
entire day was Manhattan, which was
exceptionally strong and active, making
a maximum and net gain of over 5 points
on transactions that more than exceeded
one-fifth of the day’s total operations.
Tllß NEWS ANI) OBMIRVER. TUESDAY MORNING, NOV. 18. 19027
! The ris, in ihis stot-ii. which was bouaht
openly in big blocks by brokers \\ho
usually represent Gould interests, re
vived the old story that Manhattan is to
be taken over by the New York Central
on a guaranteed dividend. No confirma
tion of this was obtainable, nor did any
great amount of credence attach to it.
she other tractions were fairly strong in
sympathy. Metropolitan on very light
transactions gaining over a point, with
a fractional advance in Brooklyn Rapid
i Transit. Considerable attention was
drawn to St. Paul by reason of its rather
I irregular movements and the stock
! closed with a slight loss. New York
Central, which made an early gain of
i Hoc. lost much of its advance and Balti
more and Ohio fell over a point from,tlie
top in spite of its good showing in
I earnings for the fiscal year. Other ac-
I live railway issues that displayed heavi
! ness included tin' Pacific group, the pres
j sure against Union Pacific at one time
| being very marked. In the special class
; Colorado Fuel, American Smelting,
| Sugar, and » few others were steady.
Sugar making a net gain. For the most
part, however, changes were unimport
ant during the early session and the
market was narrow, traders shosving a
disposition to await developments in the
local financial situation. The chief fea
ture in this quarter was the transfer “of
$750,000 to Sen Francisco and $400,000 to
New Orleans, making a total of $1,000,-
060 to the first named center in the last
four days. This drain on local resources
was not regarded with favor. There
was practically \>o change in foreign ex
change, demand sterling ruling at 4.87.
While bankers say they look for no im
mediate exports, the facts that three
fast ships landing at French ports leave
this city during the week created some
uneasiness. Call money was as high as
six per cent and as low as 3Va. the bulk
of loans being made at 4* per cent.
London bought about 25,ftO(i shares in the
early declines and sold the greater part
on the rise. The increased dividend in
Norfolk and Western common failed to
bring any material improvement to that
stock, although dealings were moder
ately heavy. The decline of 3% points
in General Electric resulted from reports
of labor troubles at the company’s works
at Schenectady. Profit taking in the last
hour brought recessions to a number of
active issues, and while the market ral
lied the closing was irregular.
Bonds were Irregular on a small range.
Total sales (par value) $2,945,000.
United States old 4 s declined M per
cent on the last call.
Total sales of stocks today were
701,200 shares, including Atchison 27,700;
Baltimwe and Ohio 48,500: Canadian Pa
cific 12.100: Erie 13,500; Louisville and
Nashville 9,200; Manhattan 156,100; Mis
souri Pacific 27.500; Norfolk and Western
14,200: Pennsylvania 25,900; Reading
64,800; St. Paul 46.100; Southern Pacific
25,400: Southern Railway 5,900; Texas
and Pacific 6,700; Union Pacific 33,800;
i Amalgamated Copper 20,300; Brooklyn
Rapid Transit 5,400; Colorado Fuel and
Iron 26,500; Tennessee Coal and Iron
5,400;’ United States Steel 17,640; United
States Steel, preferred, 10,100; Rock
Island 18,900.
Atchison 82\;
lo pref 98*
C Alt - & 0hi0.... 99*
do pref 94
Canad’n Pacific 129JS
Can. Boutherv 80
Chesa- & Ohio .. 447*
Chic- & Alton ?2
do- pref 69*
Uhl- B. & Q
Chi . I- & L 78
do pref 91
Chi & E. 111.... 206
Chi. & G. W.... 25*
do- A- pref. .. 82*
do B. pref... 39
Chi. & N W.... 223
C..R- I. & P
Chi. Ter.&T..... 17*
do. pref 33
C-C C.&St.L .... 97*
Col. Southern... 28*
do. Ist pref .. 70*
do 2d pref.... 43U
Del-i& Hudson..ls7*
Del.. L- & NV.. -245
Den- &RloC- » .- 40*
de. pref 88*
Erie 33*
do-Ist pref.... 64*
do 2d pref 47*
Gt- Nor. pref.... 183
Hock- Valley.... 87*
do pref 88*
Illinois Cen 142*
lowa Cen 58*
do n ref 68
I, E. & iV 52
do pref 120
Louis. & Nash-.. 124
Manhattan L- ..139*
Met- St. Ky 137*
Mex- Cen 23*
Nat- RRof Mex. 16*
Minn- & St- L-.. 106
Mo- Pacific IC6*
M-.K- & T 2- y»
do- pref 57*
N- J- Central ...165
N. Y- Central 150*
Norf. & West .. 6 9fi
do- pref 91
No- Pacific
do- pref
Ontario & W.... 2 H
Pennsylvania-.. 156*
Reading 57
do- Ist pref. .. ’s*
do’ 2d pref 72
St. L- & 8- F .... 73
do-Ist pref.... 81
do- 2nd pref .. 7t*
St- L, 8- W 27
do. pref f 2 i
St- Paul 172*
do pref D 0
Ssutb- Pac 6J*
STOCKS.
So-Railway .. 32*
do- pref 92
Texas & Pacific-. 42H
Tol- St. L.& W.. 29*
do- pref 46*
U- Pacific 101
do- pref <G*
Wabash 30*
do- pref 4 »
Wheel. & L- E .. 24*
do-2nd pref... 34
Wls Central... 24*
do- pref 4i*
P. C- C &St. L. ....
KXPKESS CO’S.
Adams Express--200
American Ex.... 220
United Stßtes- .125
Wells Fargo 210
MISCBLLANBIi
Amalsr. Copper.. 55*
Am- C- & F 3 4
do, pref 88
Atner. L- 0 16*
do- pref .. v ... 42
Am-Smel-&Ref 42*
do- pref 92*
Am- Tobacco
Ana-Min-C 0.... 91
Brooklyn R. T.. 54*
Col F& Iron-.. 87
Consol Gas 213
Cont. Tobacco
do. pref 114*
Gen. Electric....l77
Glucose Bugar.. ••
Hock Coal 19*
Interna l Paper- 18
do- pref 71*
Int. Power 60
LaClede Gas.... 9)
Nat- Biscuit 44 -
Nat. Lead 25*
Nat. Salt
do. pref
No. Amer 118
Pacific Coast.... 67
Pacific Mall 38
People’s Gas... 100*
Pressed S. Car.. 58*
do. pref 90
Pull- Pal. Car.. 223
Rep. Bteel 19
do. pref 75*
Sugar 117*
T. C- & Iron ‘s7*
U B. &P. C 12*
do- pref 76*
U- S- Leatoer- .. 12*
do prof 89*
U. S Rubber.... 16
do- pref 51
U 8. Steel 36*
do. pref 84*
Va-Ca Chem Co 62*
do. pref’d .. .127*
(Vest. Union 89
' Standard 011 680
BONDS.
•J.S.Ref.2’ireg..l(P *
6. B. Kef. 2’i cou 1( 8*
U. H.3’sree .....’.IOB
** coup ICB
U. B. new 4’sreg 136
** coup 136
U. 8. old 4* reg.lo9*
“ conp Xo>34
U. 8. s’s reg 104
“ coup 104
Atch’sn Gen. 4’g.101 *
" adj 4* 91
Balt. & O. 4’b...101*
do 3 1-2’s. 94*
do conv. 4’g..1()7
Can. 80. 2nd5....1C8
C. ofG. s’s 107
“ Ist incomes, 75
C. & O. 4*’5.... 104*
c. &A. 3 1-2’5... KC
C.. B. & Q. 4 .a.. 95*
CM&StP gen 4’sll3*
C. & N. con 7’5..155
C-, R. I. &P. 4’a. 108*
CCC&SLgen4’s.lol *
Chicago Ter. 4’B. 87
Colo. So. 4’s 52
D &. RioG.4’s...loo*
E. prior lien 4’s. 97*
Erie Gen 4’s 84
F. W.&.D.C.lsts .112
Hock. V. 4 1-2 a 108
L. k N. nnl. 4’a ~101
RALEIGH STOCK MARKET.
(Corrected daily by Grimes & Vass.)
, BONDS.
Bid. Asked.
North Carolina 6’s, 1919 130
North Carolina 4’s, 1919 104 1 a
Virginia new 3’s 98 99
Virginia Centuries, 1901 99 99’i
Southern Railway o’s, 1994 ..118
S. A. L. '4’s 84 85
Western N. C. R. R. 6’s, 1914.118 -
Ga., Car. & Northern s’s, 1929.112*
Carolina Central Railway 4’s.— 100
Ga., So. & Fla. R. R., 1945.... 115
STOCKS,
Va.-Car. Chem., prof
Va.-Car. Chem., com 6216 63
Seaboard Railway, pref 45 46
Seaboard Railway, com 26 27
Southern Railway, pref 91 92
Southern Railway, com 32M: 33^
Atlantic Coast Line, com 165
N. C. R. R. Co 171 175
Tarrant & King’s
Cotton Letter.
(Special to the News ami Observer.)
New York, Nov. 17.—As anticipated
there was a much stronger market today
with attending higher prices. Cables
were better, there was less disposition
to sell and even in the face of favorable
weather news and heavier movement,
prices were advanced easily. It would ap
pear now that the New York contracts
had sought a lower level than conditions
justified through the urgent liquidation
last week of long contracts. With the
elimination of this interest in the mar
ket and the accumulation of a short in
terest, it can readily be seen that New
York contracts will advance to their pro
per basis above Southern spots, which
means practically B’4 cents for March
contracts in this market. The closing
tonight was at a slight recession from
the best prices of the day, the market
showing every indication of further
strength.
TARRANT & KING,
68 Broad Street.
J.’ M. AYER & CO.’S COTTON LETTER.
J. M. Ayer & Co., who came very near
predicting the cotton crop of last sea
son, state that information for the past
ten days has been so conflicting that
they will delay their estimate. We quote
from their letter:
‘‘The cotton movement to date been
heavy, and the liberal receipts have
boon used to promote the recent decline.
While the effect of receipts on prices is
positive, it may be asserted that the
movement cannot be safely taken as In
dicating a large crop. Practically, it is
no greater up to this time than it was
in 1894-'95. when the yield was under 10.-
006,000; but little more than in 1896-'97.
when it was under 9.000,000 bales; and
for November it is 27,000 less than last
year. Since the current crop is an early
one, it can be easily seen that the move
ment cannot be safely pointed to as in
dicating any accuracy in the large esti
mates just made by the foreign crop
forecasters. * * *■
“We do not see how any further ma
terial decline can occur unless there
should be a widespread conviction that
the whole country is in an unstable sit
uation. We hold the view that general
business conditions were never better,
and that the recent declines in all spec
ulative values were the result of con
certed bear raids which were successful
in frightening timid speculators and
weak holders into a general unloading
and liquidation.”
J. H. PARKER & CO.’S COTTON
LETTEP.
From the weekly cotton letter of J. 11.
Parker & Co., the following extracts are
made;
‘‘Spot markets have shown more
strength and have not declined to a par
ity with the New York market, which is
now (he lowest market in (he world. Our
information from the South leads us to
believe that there will be no further
break in spot markets, as the demand
continues good, and cotton is held firmly
at the present level. The movement
shows an increase for the week, but still
does not indicate a large crop. It looks
now as if the movement on the first of
December would be at least one-half
a million bales behind the crop of 1898,
which yielded eleven and a quarter mil
lion bales. We are still receiving reports
from many sections of the Atlantic and
Gulf States which state that the yield
from the late crop will bo very small,
but it cannot be denied that the senti
mental effect of the favorable weather
reports from over the entire belt has
had much to do in depressing prices this
week.
“We have been both disappointed and
surprised that the market should have
declined ?o far inasmuch as all the op
tions have sold this week under 8 cents.
As it is always the case in a declining
market predictions are freelv made that
still lower prices will prevail on the talk
that the crop will be the largest on rec
ord. hut it is well to recall that in 189:
when the yield turned out 9.400,000 bales
there was similar talk and large esti
mates made of the crop. In fact Mr.
Neill estimated the yield at eleven and a
quarter million bales and adhered to it
throughout the fall.”
Mex. Cen. 4'a.,-- 80
do Ist Inc ... 26
Minn. & BtL 4’sioi*
M. K. AT.45.... 100
” 2nd’s tl
N. if. C. Ist a 102*
do gen 3 1-2M05
N J. C. gen. 5'5,.136*
No. Pac. 4’a 103*
** 3’s 72*
N, &. W-con. 4’s.loo*
Reading gen. 4’s 97
St L & 1 Mton s’s 114
St- L-&8 Fgen4’s 99 7 *
St-L. S’wes l’n-- 97*
do 2’s 85*
S. 4’s 87
So. Pac. 4’s 93*
So- Railway 5’5..118*
T. & P. lsts 120
T .St.LAW. 4’s.. 78*
Union Pac- 4’s.. 104 %
do. conv. 4’5.105*
Wabash lsts 117
" 2nd* 108*
”do. Deb. 8.... 77*
West Snore 4 a..113*
W A L, E. 4’s .. 92
,»is- Cen. 4’5.... 91*
Mobile &O. 4’s. 95
C. of Ga-con s’s-. 36*
" Ist incomes. 81
** 2d lnomes 36*
Con. Tob.. 4’5... 64^
Barbee & Co.’s
Cotton Letter.
(Special to News and Observer.)
New York, Nov. 17.—Heavy rains in
Texas and frosts in Oklahoma caused an
advance in cotton today. Then too. an
improved stock market helped things
along. Receipts were liberal, but the 1
market seemed sold out for the time i
being. After selling at 7.95 the March
option declined io 7.90 only to recover to (
7.96 during the afternoon. December |
was the. card selling again at 8.11. Spot
people own a good deal of December and
will ask again for the delivery of every
bale. This cbtton will thou be turned
over to (he holders of January. For this
reason we would not sell December un
der any circumstances. With any strength
in the market, there may be a decided ad
vance in December. Spot people would
like to get the price up to attract more
cotton here. The more the better as far
as they are concerned. ’Phis premium on
the December cotton makes May and
March shorts more or less nervous. The
price is now at a level where a decline
must take place in Southern markets
to weaken the local market much. Gs
course if Wall Street is going to break
badly and more January has to be sold
in the market, there is not much chance
of a decided upturn in the price of cot
ton. And if receipts keep on much ahead
of last year we may see lower prices be
fore there is sufficient Inducement to buy
for permanent investment. As the pres
ent market is extremely difficult to anal
yze and prices break just when they
look strongest and advance when they
look weakest, we would sell cotton on
bulges and only buy on good breaks. The
December strength and uncertainty over
the coming bureau report on December,
3rd may be sufficient to offset a liberal '
movement and bring about a slight ad
vance. L's likely to be a trading market
for some time.
Prices for futures today ranged as
follows:
Open. High- Low. < lose.
January B.ot 8.05 797 bill
February ‘ 7 -94 7.94 7.93 “93
March 7-95 796 7 1 0 7°5
April . 7-92 7.94 7.0 0 7.95
May 7-96 7A7 7-93 7-95
Ju • • •
.Inly ■
August 7 84 '"■B4 7.8*
November 8.C2 8.03
December.. ..tn. 8.0 7 8.1 l 8.03 8-09
The market closed steady.
BARBEE & CO.
YOU KNOW WHAT YOU ARE TAK
ing when you take Grove’s Tasteless
Chill Tonic, because the formula is
plainly printed on every bottle show
ing that it is simply Iron and Quinine
in a tasteless form. No cure. No pay,
50c.
For CrouD use CHENEY’S
EXPECTORANT,
COTTON YARNS.
Buckingham, Paulson & Go.
Commission Merchants.
NEW YORK. PHILADELPHIA. CHICAGO
Solicit correspondence. We are prepared to
n see orders for prompt or future delivery for
4. q mbers of yarn to full advanced price.
CAROLINA TRUST COMPANY,
RALEIGH, N. C,
%
Capital, SIOO,OOO, out of s J? c 7 t " d ßusiness
GENERAL BANKING—Money received bn deposit, subject to check.
SAVINGS BANKlNG—lnterest paid on deposits.
TRUSTS.—Acts as Executor, Administrator, Guardian, Assignee. Receiver, Broker, Agent,
Trustee. Assumes the management of entire Estates; also property for the use and benctit of
others.
FINANCIAL AGENT for floating Stocks and Bonds of Corporations.
Especial and separate arrangements and conveniences for gentlemen and lady customers.
OFFICERS.—W. \Y. Mills, President; Leo. I). Henrtt, Vice-President and General Manager;
Robert C. Strong, Trust Officer and General Counsel: William Haves, Cashier.
DIRECTORS.—James Webb, .J D.Riggan, Charles B. Hart, Alexander Webb, Julius Lewis,
Leo. D. Heartt, F. T. Ward, W. W. Mills, Allen J. Ruffin, W. C. Petty, P. R. Albright and
Robert C Strong.,
Offices in Carolina Trust Building, Raleigh, N. C.
Correspondence Solicited.
Barbee & Company,
RALEIGH. DURHAM.
Members New York Cotton Excnange.
Stocks, Cotton, Grain and Provisions.
Private wire* to New York and Chicago. Instantaneous quotations. All
transactions made direct with Exchange. Market information cheerfully given
by 'Phone, wire or mail. Inter-state and Bell 'Phones Ne. 67.
PUBLIC OPINION
S YDNOR * HUNDLEY, for values true, are unsurpassed the city tbroug H
Y" ieldlng to none, for styles new, the choicest Furniture, aits for yo TJ
D «r»ble and elegant, ornate or plain, such Suites elsewhere we seek In val N
oted for UPHOLSTERY, here we find a grand aelectlon of every kin D
0 ornamental DRAPERIES, it is known well, in perfect taate, they do exce Xi
B, ight at 711 ®. Broad St., of MIRRORS ft PICTURES, the stock’s comp let E
for Beauty and Quality we can rely on all SYDNOR * HUNDLEY do suprl Y"
This Great Store is 709-7n-7i3 E. Broad St., Richmond, Va,
NEW NO. 9.
THE MANHATTAN TYPEWRITER
The equal of any machine in the market. Only $65.00 with case, delivered.
- EASTMAN KODAKS AND SUPPLIES-
State Agents for Public school books.
Price List sent on application.
ALFRED WILLIAMS & CO.,
Raleigh, N. C.
Jacob Berry & Co-
MiHoiPiJo 1 Consolidated Block Exchange
MEMBERS \ y. Produce Exchange,
Stocks, Bonds, Crain Cotton.
E3tabllshed 1865,
44 Broadway, New Terk,
S 0» Main St., Durham, N. C.
Phlla. Office, Drexel Building,
Telephone No. 7. Send for market otters
and pamphlet. Prompt servlet on all busi
ness.
Hugh Macßae & Co*
RANKERS.
Miscellaneous Southern Securities,
Cotton Mill Stocks
A *P»CIALTY.
WILMINGTON, N. O.
£tocks, Cotton, Grain
and Provisions.
Small accounts receive the
same careful attention as
large ones. All inquiries
promptly and cheerfully
answered,
j •
TARRANT & KING.
C 8 Broad Street, Morris Building,
NEW YORK.
ESTABLISHED IN 1872.
HENRY BEER, BERTRAND BEER,
EDGAR H. BRIGHT.
H. & B. BEER,
Cotton Merchants.
NEW ORLEANS.
MEMBERS OF: New Orleana Cotton
xchange, New York Cotton Exchange,
and Associate Members Liverpool Cetton
Association.
Special attention giver to the execution
or contracts for future delivery In cottoa.
“Leßov Davidson
j
; Promoter and Dealer in
Investments.
Securities,
Offices; Room 118, 60 Broadway New
; ork, and Charlotte, N. C.
Money advanced on valu
able plants and well locat
ed business proper ties.’ ’
7