Savannah morning news. [volume] (Savannah) 1868-1887, 1881-09-03

months OF the year 1880 Early in Sep
TENDER a rainy season set in, and ap-
prehensions as to the damage that would be
caused the better grades. and falling of in
the receipts to fill immediate orders, resulted
in exporters readily paying 4 advance for
good middling, middliug and low middling.
and the second week Of September opened
with a firm market. prices stiff and tending
upwards. The continuance Of the heavy
storms for nearly an entire week in the coun-
try tributary to the Savannah had a very great
effect on the market, and offerings fell off in
quality. arriving here in poorly prepared
condition The middle OF the month there
was experienced a change in the steady az
vance OF the market due to sympat nv
with the rise in the controlling markets. and
also to decline in freights, exporters freely
paying IN cents for middling. The advance
( in the Liverpool and New York markets was
attributed mainly to the uufavorable crop &C
counts and to a speculative mania, which was
increased by apprehensiOns Of a scarcity of
the better grades. The weather was also ex-
eeedingly unfavorable at that time and the
month closed on an active market, with deci-
( dedly bullish feeling prevalent, the quotations
being: Middling fair, 1l4c; good midd!ipg,
lie; low middling, &c.
+ The 1rst week in October showed a steadier
market, though offerings continued large, and
were in excess Ct the demand. buyers
thus having the advantage, prices on the
9Th October reaching the lowest point OF the
season up TO that time. At this period the
impression prevailed that bottom had been
/ reached for medium and better grades, and in
consequence Of the continued unfavorable
weather and severe storms a bullish feeling
predominated, and virtually controlled opera
tons. The prominent feature Of the market
at this time was the very large offerings due to
+ various causes, the stormy weather and heavy
local receipts at Savannah. while that going
! through to Northern or foreign markets and
mills had decreased. Another feature was ths
+ rapid movement Of the crop, which was fully
+ two weeks earlier than the last crop. the re-
suit of the forced maturing in August. and the
introduction Of steam gins in place of water
+ gins and horse gins, a more rapid and i'm
+ proved out turn being thereby obtained.
Although the bulls were active in pre- iicting
an advance consequent upon the unfavorable
report Of the then condition Of the crop, and
the damage anticipated from the cool change,
any attempt 10 put up prices checked opera
E NAtAe anu PtoNuCCu u l3JIdEl Impression.
The tone OF the market was healthy, but there
was no change in prices. just at this time
there was serious interruption 20 the cotton
business, which, however, had no greater effect
upon the market than restricting operations,
quotations remaining unchanged. The
amount Of through cotton had largely
increased, and railroads, presses
and vessels were taxed t. their utmost The
prevalence Of broken bone fever in the city, re-
sulting in the sickness Of clerks and employees,
Inconvenience factors aud buyers, and great
" retarded business. Then the strike Of the
stevedOres, who stopped the unloading OF yes
sells on the27th October rendered it impossible
for exporters to receive shipments, and hence
I limited transactions. The tone of the market
remained steady, however, and the termination
! Of October without an attempt at a corner in
/ either Liverpool or New York, relieved appre-
tensions Of al artificial advance in prices, quo
ta'ions being dependent principally upon the
/ daily receipts.
The month Of November Yves even more I'M
I propitious than October, there being an almost
endless succession of hindranees to prompt
and satisfactory operations in the mari ct TO
! the continuance of unprecedented anfavorable
weather, and prevalence Of the dengue, seri-
! Gus drawbacks, assuredly, were added other
/ troubles: the generalization of labor in the
country il cdent to the Presidential election.
and in the ci J by labor disaffectious, strikes
being the order Of the day. The troubles with
B the draymen and the hands at the cotton
I pre- sses were speedily adjusted, but the strike
/ Of the stevedOres occasioned great obstruc-
ton to business, blOckaded the streets
with cotton, and rendered it necessary for the
railroad companies to issue orders stopping
accepts. The effect of all this was to cause an
irregular and dsmoradzed market, and it was
not until nearly the middle of the month that
all differences were settled and the machinery
Of business moved nOothly again. A better
feeling was noted and November closed with
a bullish market, prices advancing nearly one
cent for AL grades. The long continued rains,
which were followed by severe cold, induced
the impression that the top crop was de-
/ stroyed, and there ensued a general reduction
7 of crop estimates. Though the condition Of
/ trade generally was exceedingly pre- sperous,
/ speculation had run riot and caused a strin-
/ gency in financial matters, which retarded the
I operations Of buyers, and factors were induced
: to sell some grades at the best prices obtain
able, in order to secure ready payment. The
| first of January opened at Savannah very
! hopeful. in New York the feeling was bearish,
/ and in other markets there was a diversity Of
I opinion. The New York bears insisted that
I the crop would exceed six million bales, and
I devoted their efforts to depressing the market,
I but in consequence of the bad weather the
/ movement was successfully resisted. They
/ we're persistent, however, and February
witnessed the triumph of the bears. who sue
al IN hraa
was generally expected, and their views con-
troled the market their position being
strengthened by the return OF fair weather and
heavy receipts. There was very little fiuctua-
ton in the market during the ensuing few
weeks, prices remaining about at the Feb
ruary rate, to which they had been brought by
the bears. The indications in March pointed
to a large crop, and estimates varied between
5000 COO and 6. 800 COO. The large receipts not
only demoralized the market here, but every
where, and all operations were circumscribed
There ives no noticeable, permanent or i'm
portant change in the market during April.
In all general particulars the situation was
about the same as that noted for some time,
though there was slight Improvements in de-
mand.
During May the market was regular, tone
uncuangous ana out SiiSnI FarlallOn IN prices.
About the 2Sth there was a little activity, and
an advance Of &c. for'best grades was re-
corded. There was perceptible decrease in
receipts, while the exports we're largely in
creased during the next few weeks far in
excess Of the exports usual at this season.
July and August showed an improved mar
ket, demand beins,good, prices advancing and
strengthening, and receipts heavy. The tone
Of the market the past month was very good,
and prices reached for all grades the highest
point OF the season. and September opened
upon a strong market, with prices tending up
wards.
The quotations for all grades at the closing
OF the market yesterday were:
Middilng Fair.
GOOD Middilng A --.....-..-...-...-ll3
.N-.-.--ss--- Ia
Low M1ddllng ..........-..........t,l II
Good ordinary. .-..-...-........-.,. vs.