Savannah morning news. [volume] (Savannah) 1868-1887, 1881-08-26

or How. FiguraffveIy Speaking, the
Bears and Bulls Fight over COZ
ten Bale.

The following, from the New Orleans
Reayss1ss, il Of such interest in cotton circles
at present that we are induced to transfer IT
to our local columns:
Gas our readers are well aware, there has
been 9 very close tug IN the cotton market
Of late. It has been distressing work Tor
somebody, and the lockers on, while per
hape not comprehending the exact situation,
have, perchance, given undue sympathy
where it was not deserved. The passer-by
at the Cotton Exchange could not, II he
glanced into the future rOom, fail to bestow
some sympathy upon the young men around
the ring painting and lsbOriDg, flushed with
the excitement Of conscious triumph, or
pale with anger at the defeat Of their pa
irons schemes.
'It is q rapidly changing scene that. The
men In front, calamity battling for every
point, do not always watch the cool heads
that are giving the word Of command.
There are steady nerves behind this fire Of
the sharp shooters, and after time either
OF the advance guard must get back into
the trenches and prepare for the reception
Of solid shot and heavy shells.
eff we mistake not, things are approx
mating that sort Of an interesting crisis
about this time. Our city has been truly
making a spectacle Of itself for some time
past. She has, to phrase it, run away with
the cotton markets Of the world. She has
taken the bit in her teeth, and the erst-
while great spectators Of New York and
Liverpool, who vainly imagined they were
nearest the throne Of King Cotton and
welded the power Of his empire, have look
ed on with smszement and been dragged
through the market at a gait quite as lively
as that Of 9 Chicago express train.
"The fight has been lively one OF late,
and 1t remains to be seen whether the bulls
or the bears get the best Of It. As the
initial attempt 10 corner the New Orleans
market in August the combat is the more
interesting. There are now over oO,OOO
bales Of cotton here, but nobody who is
short Of cotton and wants to tender 1t on
contract can get 1t. To make a corner 1t is
necessary first to control all the supply In
sight. This has been done pretty effectu-
ally, and, IL we mistake not, the parties
carrying it have taken advantage Of the
boom on the other side and unloaded all
they may hold here on Liverpool buyers
for September and October delivery at pay
ing prices, TO be shipped when 1t is no
longer Of service here.
''But this is a cotton country, and the
bears have looked around for bales. They
wish to obtain the staple in unlimited guam
titles and tender it to those who believe In
high prices. So the country is about being
ransaeked for cotton, and the New Orleans
paratively speaking, between now and Sep
TENDER 1st. We got last week some $500
bales, against $50 for the corresponding
time last year.
at is said now that two steamers have
been loaded ct Galveston for New Orleans
With 5000 bales each, and that three other
steamers have also gone there after cotton
for this market. The Texas Railway is
bringing all 1t can carry. It is furthermore
stated that the steamship Louisiana, from
New York, is also bringing 600 bales, some
say more. Altogether, the bears are making
gallant effort TO get out Of their troubles,
and what is best, as we view 1t, they are
bringing cotton TO this market that would
not otherwise have come.
august deliveries have been sold up to
13c., but they are now down to IL 20. This
is up to the price at New York, and far
above the value at any other market In the
cotton belt. The bears have until the Slst
to deliver, and It is TO be presumed will
make the most OF their opportunities. They
have already turned over something like
20 900 bales this month, and have delivered
4 500 in the last two days. A compromise
is talked of now quite suthoritatively, and
the smoke OF battle may be soon cleared
away. We hear Of flags Of truce passing as
we write, and terms of settlement.
"View these speculative movements as
we may, the fact is made apparent by them
that the future branch of our Exchange is
destined hereafter to play very important
part ia the cotton world. With this auxili-
airy New Orleans will be in better position
to exercise the commanding influence which
her enormous supplies Of the staple sent for
a market ought to command"