Savannah morning news. [volume] (Savannah) 1868-1887, 1882-09-02

-.- SAVANNAH MORNING NEWS. /
=-l-- "a SsvaSNAH. September /, 1882
.- business year has closed, and the
s.sson Of 1ss2-s3 has fairly opened A
'-- .f. trade Of this port during the year
-1-fying and encouraging On account
r7rz drought which prevailed during
.. aud summer last year, and in fact
5.f into the fall, the cotton crop OF the
-ss reduced over million OF bales
b.. .-1r f 1s80-si, and was very cOnsid-
-..s. ian was anticipated, On this &C
.ts-a, pts at this, as at all other ports
44-abIv lesseued, and in cOnse queuce
.-~-- be sad to have reached the point
.t. s--a5fIy increa sing business Of our
ID ali res lnably % hope for. Never
--rtunah has held her position as the
--r port Of the Sou h Atlantic, her re-
....-f.nz TO tine reports Of the Cotton
.. heinz. up 10 the 31st ultim7, 1887
vs..k c1mi- 2 next to her with 6ll,s76
.s We have stated. s a very gratifying
and there is no doubt our port will be
able -- maintain her position. Our rail
FL. have e1j ay-d their full share Of business.
-- lines Of steamers have, despite the
.-. CROP an falling Of Of receipts, prosper
s---- beyond expectation. The steamers Of
... ---su steamship Company, which ply be-
-. savannah and New York. and Of the
-,.---.r-s and Miners Transportation Com
..-- 5--vsen this port and Baltimore, particU
-rrsr- done vel. carrying heavy freights
----raur the season, the former having
----.-.---4d Of cotton 24O $50 bales. and the
..--s-ss ESQ bales against s., 965 last year. The
-.-s. stores shipments b. all our lines have
.---esrIv increased over the year previous,
...-arv enabling them TO earn fully as much
former years, when they received the
----s-- of a fun cotton crop. So great tndeed
.-s-ra demand for shipments by these lines
--a that il has been found necessary 70
.+4ar additional steamer to the line OF the
7s-en steamship Company, which is now tri-
,-.4-Ir instead Of semi-weekly as heretofore.
mi. shows that our excellent transportation
tsHaries are rapidly becoming more and more
---rrsr aud appreciated by shippers-a fact
--r.s has determined the various lines TO New
v.-. Baltimore. Philadelphia and Boston to
.44 largely to their facilities during the en-
.-- var. and which Of itself IS a guarau-
---1f the ft.ure CO merciaI greatness Of the
sud rer Importance in the business world.
COMMERCIAL. RESUME
The tables annexed TO This review give. as
.s full statement Of the trade
p Savannah during the past year They
lave been compiled with gre1. care and no
a---r has been spared TO make them entirely
ssarate. They are male up. as usual from
--- latest Statistics 0btainable. and viii be
t--rf strictly correct and reliable.
..rv-r=y- ar rur COTTON MARKET
The commercial year 1857 50 opened encour-
sg.rg.y. middIiug cotton being qu 1te1 at 1859.
ana there being every reason to believe that
here wolld be at least an average crop, and
that r-mmerative prices would be maintained.
This latter anticipation has on the whole been
realized. as the tone Of the market throughout
1-year may be characterized as "steady"
there have been no violent fluctuations. and
t-e-s have maintained a remarkable average.
4-the outset there was a slight tendency to
..-uess. and the market, under the influence
q the uncertainty which always attends the
r-.,-HIe outcome If the rror, - che bagiuniuz,
lDe p- la
-..a..-, oecIue5 Int" ...
ll,c1cr. enen mtddhnZ rc----
point of the season. viz
.5r reure vas m1lt -eC
sas week until 0-..1e~ Is.A
become pretty ce~-tlsiveiy
enc great drought ll5 dome
.l4~oa o. -tiffen, and con
..r until the early part Of April
.,wing. when prices we're quoted at from
.vlc 10 IIlbc. These prices were pretty evenly
maintained until July, with no fluctuations OF
any special consequence. and the highest price
ttne season was reached on the 10Th OF that
month. vhsr quotations were 121sc. and so
continued until the 14th Of that month, when
they declined 20 Re. Taey remained at this
Grlrs until Tn 22d Of August. when they again
advanced TO l21kc, and the evenness with
which these prices have been maintained is
shown by the quotations Of last night viz Il
.-t-c It will be seen, then. that the prices Of
The great Southern staple have shown through
-u- the year a remarkable steadiness. the
average beng fraction over lie.
As remunerative as this price must have
ceen 90 0u- farmers, still the fact that higher
figures for cotton have not been reached
has been a source Of considerable
+sappomtment 70 many operators. It was
reasoned that the large reduction in the crop
o. over one million bales as compared with
-Le preceding year the compare lively small
supply 10 sigh, the delay in gathering the new
crop and getting it To market. incident upon
.l5Cyertlws in the Mississippi valley ard a
generally late season, would certainly cause a
material advance in prices before the close f
le year. and these expectations were
heightened when the present Ezyptian troubles
ls broke out. It seems. though, that not
-G-.. -.
ly, the spinners and manufacturer. both
r this country and in Europe, have. owing
probably To the large early shipments snd
larger Egyptian and Indian crop than usual
9eeu throughout sufficiently well supplied not
% be foree- TO pay more than the average
Ercs az which the staple has been quote. and
90 doubt the labor troubles in the Ner Eng
land mills hiss also had some effec- in cutting
down the demand Spectators. therefore, who .
oolE-- in anticip s1i-n Of prices reaching as
Ign as If cents. have been badly disappointed
a11 now thae the new crop is beginning to
come in quite freely. it is har " possible that
Iese expectations can be realized.
As 70 the future Of cotton it is imp ssible to
Make any predictions as yet. siucs It is too
cary 20 ascertain with any accuracy what will
7e the outcome Of the crop during the year
Just opening Ii is regarded as pretty
vel established that the acreage has been con- +
s-erabIy reduced throughout the cotton belt,
I- Southern farmers having devoted more
A5or an1 laudt than ever before to the cultiva-
Ron Of grain and food crops. This will reduce
iecr7p below what would have been gathered
-2- The 'alc1tton" policy OF The past been
Adhered %. SIN the cotton belt has been con
,-5ra1.y opened up an the number Of farms
Increased so that, after all, a crop Of at least
tt bales may reasonably Be anticipated.
"1-el event there will be some reason for
71Iectug a lower range OF prices than last
year As an Offset 70 this, however, the troubles
q Egypt VIII certainly reduce, if they
NOT Altogether cut OF, the sup
p! rom that region The cOpious rams
ne past spring and summer have also
-17el The plant u luxuriste excessively. 10
~ 'etrms1r e The fruit while the damage
'-.-a may b. doae by anticipated eariy r. zt.
81 e---rpulars. rust ami sheddinz-of which
7--iealy hear complaints in some sections-is
Unknown quantity The uncertainty a.
Sll-ls The future OF prices from these causes
ESQ greatly enhanced by cotton specuIarfons.
specially in futures. In all such operations
t''l5s are, in the main, fictitious, for while the
avs OF supply and demand may finally deter
-e values, still cotton is so subject to manip-
--1ous and corners that no calculations can
= ell De made as 70 how high the staple NAV
tossed 10y the bulls or hos low it NAV
I q adj md. - al. ffF-s-