Savannah morning news. [volume] (Savannah) 1868-1887, 1884-09-01

state Of Georgia per
cent gold. due 1896 .lzS lA IL LA
CITY OF Savannah 5per
ct. bonds, due 1909. 70 1914 Sl1z SlM
City of Atlanta per
City OF Atlanta per
cent. bonds ..--..-- log III lef 100
City OF Augusta per
cent. bonds .......-lVy llU lU1 lO9
City OF Columbus per
cent. bonds. ........ 81 30 So S2R
City Of Macon 6 per
cent. bonds LOB lo4 1881 1O4
Atlantic & Gulf r. r.
cOnsOls, due 1897 109 ITO 100 1897
Central r. r. & Bk'g
Co. tripartites, due
Georgia R. R. & Bk'g
Co. 6per cent. binds,
Charlotte, Col. & Aug.
per cent. lst mort -, -.o,>
Monffg'y & Eufaula R.
r. 6 per cent. lists,
81 &c Georgia e5tgiH ~ lo2 IOs lOl lO2
Westr'n X. X. Of Ala.
Dds, guaranteed by
Cen. OF Ca -.----. lll12 llztz 1881 log
Aug. & Knox. lists,
per cent. guart'd by
Cen. of Ca. --.-..-.. SO 100
Gainesville, JET. & s.
lists, per ct. guar.
DN L. q ~ A1U III
Ocean 5. 5. Co. per
cent. lists, due 1890 % 90 "a 95
Of ca - 9z74 9a34 $50 SO
Co. q Ca 5:I453l l4G4 IA AS
Aug. Il say. r r.
per cent. guarant'd.IS 100 III u6
per cent. guaranTd.Il5 1151z 100 10
Atlanta West Point
L. X. Of CA lO2 1O3 "a IS
Atlanta & West Point
r. r. OF Ga. per
cent. debentures 49, 90 % 90 81
Cen. II. X. X. x Bk'g
debentures -. $50 S9]l 8s1l 81
Savannah Gas Light
stock .-........---.-. IS lsJ5 Il Is
COTTON.
The business season Of 1sSS-s4 opened with
rather gloomy feeling as to the results of the
years business. There were a few, however,
who were impressed with the idea that the
year would be prosperous. This idea was
based on the fact that there was a considera-
BILE shortage in the crop, which fact would
have the effect of improving prices. This
/ view was entertained Notwithstanding the
Y fact that the season began with heavy stocks
/ on the foreign markets, while domestic mills
/ were carrying an immense amount of manu-
featured stun which they were unable to dis
I pose Of on account Of OverprOduetion all over
/ the world. and the langujshing condition of
I some Of the leading interests Of the country,
I notably the steel and iron trade. the idea also
| prevailing that after the stocks IN sight
were used up a general advance would take
I place. and that prices would rule much higher
/ than for several previous years. High prices,
it was argued, and a light crop would benefit
the planter more than a heavy crop and very
/ low prices, such as prevailed the previous
/ season. The ideas of the sanguine ones were
not realized in any particular, as the
/ following figures will show: The crop
| Of the season of IsSI-S2 was COM
paratively a small crop, and was said
10 be less than an average one. The total
I crop OF that year reached 5,456,O4S bales. and
| the crop OF the past season, it is estimated,
I barely reached 5,SOO,OOO bales For the pur-
\ pose Of making a comparison Of prices, the
month Of December is taken for basis, as it
\ is in that month generally that the heaviest
movement taxes place, both as regards re-
] ceipts and exports. For the season of ISsl-S2
I the opening price of middlings for Decem-
Der was ll3kc., closing the month at
l ne, and for the past season December
I middlings opened at 10 Lice, and closed it at
/ 9 l5-l6c., and during the month prices luctu-
| ated some, at one time touching 93zc. 1t will
| be seen that while last seasons crop was very
little greater than that OF 1SSl-2 vet the
. prices were very much lower. OF course
there were strong reasons for rapid advances
/ IN prices. The impression was that rust and
great drought in some sections, and too much
rain in others, had hurt the crop very ma
terially. The indications at the opening OF
the season gave every evidence Of great de-
crease, The receipts at the ports and interior
1ay
airy. This fact threw considerable doubt OF
the short crop theory, but in January receipts
! fell or suddenly and heavily, and il was ther
. that prices began to advance. but even theT
/ there was no rapid or heavy advance until
after the crop had been pretty well marketed
I Those holding the opposite view seemed t
have their ideas confirmed by the heavy re-
ceipts. These, together with the heavy stocks
OF raw and manufactured material in sight
and the fact that a considerable number OF
Northern mills began to shut down and others
only ran on half time, had the effect OF hold
ngpTices at low figures for the better part o.
the season. The season opened with mid
dlings quoted at 91zc-, and the first month
,Septemberl closed with middlings quoted al
/ al3-l6c. October opened with a further
slight advance Of So, and closed at Zoe. No
/ vember opened at that figure, and closed a.
closed at a decline OF 80. January closed
with quite a decided advance, the quotation
being 10 5-l6c. February opened at Lice. ad
vance, and ran along to the close Of tn,
month, when prices fell Of slightly, closing a
10 5-l6c. In March the fluctuations were activ,
and advances rapid. The month opened a
| 1850, and at the close middlings had touched
I lie. April opened at the latter figure, and 81
| continued to the Attn, when there was an ad-
1 vance Of C., and on the 10th a further ad.
vance Of &C., middlings quoted at He, tn,
| highest point reached during the year.
I continued ut this figure up to June 6. when
decline set in and June closed at lie. Since
that time prices have gradually and steadily
| declined. NIiddlings closed on Saturday al
. IOl &c. The total sales on tins msrket for the
year were $50, 42I bales. The most remark able
feature Of the seasons crop was the excellent
! quality Of the cotton. There was none of il
/ OF poor quality. For cleanness and texture
it was regarded as one of the finest crops ever
| produced in this country. The previous seasons
/ crop was full Of stained and storm cotton, and
but a comparatively small portion of it came
I up to the regulation standard. The factors
Of this port still complain of the increased dis
l position shOwn by foreign exporters, as well
| as by the Northern mills, to ignore the ports
l and buy in the interior towns This practice
I takes no little amount OF money from this
market. Complaint is also made Of the prac-
tice Of insuring the cotton on the plantations,
I so TO speak, through to the mills. whether do
nestle or foreign. This Of itself eurtails, to
some extent, the insurance business of this
/ port. Throughout the best part Of the season
\ there was ample means for moving the crop
\ and money could be obtained at a less
/ rate Of interest than was known since the
| war. and even the distress OccasiOnea by the
numerous heavy failures of leading financial
/ institutions OF the North OccasiOned no IN
| convenience to the cotton trade, as the bulk
| OF the cotton crop had been marketed before
/ financial troubles began, and factors were not
! seriously Inconvenience in making advances,
/ because the worst Of the panic was over before
/ heavy advances were demanded They there
fore were but slightly embarrassed. 1t will
be seen by reference to statistics that this city