Savannah morning news. [volume] (Savannah) 1868-1887, 1885-09-05

{ LAAAAubd anu ftok
Point BAIRD stock 90 "a "a 96
atlanta and West
Point 8 per cent.
debeutures ......... 80 81 S412 B5
Central Railroad Of
Georgia 6 per cent.
debentures ...--... $50 81 81 "
Savannah Gas Light
stock ............. Is 10 II
Merchants National
Bank stock ....-... lis lis l2S 1872
Southern Bank State
OF Georgia stock $50 l55 l6b 1O
savannah Bank ana
Trust CO.........-- SIS 30 .. 50
COTTON.
Pretty much the same conditions governed
the cotton trade OF the season OF lSs4-55 as
governed that Of the season Of lSSS-S4.
Throughout the country, at the. opening OF
the season, all the leading industries were
/ laugulsling from overprodaction. hut there
were bright anticipations INDUCED m of "a
better condition OF things in the near future.
II was thought that rs soon as the heavy
stocks which we're being carried by the manu-
facturers we're worked on and the idle mills
and furnaces again started a fresh impetus
would be given to business, and that the
years' business would show "a great improve
ment.
This expectation was not fully realized.
Although numbers of mills and furnaces did
resume work during last fall with a consid-
erablo number Of orders ahead, they were
again compelled to shut down to a limited
extent owing to the slowness of trade. The
season closed with about the same trouble
prevailing as at its opening. Probably no
two seasons within the history of the cotton
trade rescmbled each other 20 closely IN their
leading features as did those Of lsS3-S4 and
lsS4-S5. While the past seasons crop was
slightly smaller than that OF the preceding
year, the difference was 50 slight IA
hardly to be worth noticing. The crop
for the season Of 1sSg-Si was SIR. 200
bales, and for the past season abOut
5.700,O1O bales AZ estimated at this writing.
They can be properly called average crops 80
compared with crops OF the preceding ten
years OF last reasons crOp savannah re
ceived 10000 bales, as against COS, ll5 bales
for the previous season, showing an increase
Of fully 6l,sg7 bales. This increase was not
because of any receipts from new territory,
but to the fact that the Georgia crop was
larger and in better condition than that in
other sections of the cotton belt. This increase
was not as great as 1t would have been il il
had not been for the pooling system and the
Georgia Railroad Commission. The chief ar
terry OF supply Of this port was still in
the position it was the previous sea-
son. Its percentage of freights,
according to the pool, was entirely too small,
and was covered very early in the season. Fac
balance Of the season was devoted to dead
freights for the benefit OF the pool. Compel
ing lines also tapped its tsrmitory, and con-
tinued to carry Its legitimate freights 10 com
peting ports outside OF the State. These line;
were not, and perhaps cannot be, controlled
bv the Railroad Commission, and the creates
railroad line OF Georgia ia, therefore, left com
pletely at their mercy. Another fact about
these competing lines is that where cotton was
shipped over them, intended for factors Ia thin
market, from interior towns, all manner o
distractions were thrown IN it's way to pre-.
vent its prompt delivery. It ia s
well known fact that cotton shipped
over the same lines for Norfolk was dc
nvered in less time than cottons shipped {,
the Savannah market. This WAS notably "a,
Gaze with Hawsinsville shipments, and it wa
one Of the reasons why this port was deprive,
OF at least one-half OF the amount Of cottoi
from that point that 1t ought to have had. an,
10 which 10 was l~egitimatcly entitled. judgin,
from what II mai got from there IN previou
years.
The vear's receipts, therefore, which ough
TO have reached LOCO. 600 bales, were 70
this aud other ressons lower than thore wa
ground for expecting they would be. How
ever, Savannah stin'ranks second among In
cotton ports OF the United States, and nrs
among those on the Atlantic coast. The re
ceipts show that there was a marked fallin
OF at Mobile, Galveston and Norfolk, while
with the exception Of savannah and Charles
ton, the other ports have barely hol,
their own. or course the leading fen
ture OF cotton during the season wa
the prices, which, TO say the lea-
were quite erratic. A sort Of see-saw con
dition of AFFAIRS prevailed each month, justify
ing the suspicion OF manipulation At the con
trolling centres, particularly at Now York
The year opened nj iOI1c. for middling an.
closed at 3 &C., showing about 7sc. variation
For the lrst part OF the season the weekly re-
celpts kept somewhat in the lead Of Tie sam
weeks OF 1883 They were thought 60 D
enormous. and were the occasion of the pre-
dictions that the crop would be large. Dur
iug the month Of September, therefore
values fell on fully 80, and This weHkeuin.
tendency continued throughout the mOut
Of October. That month closed with a fur
ther decline of ~. In the early part OF No
vemhor the overland movement for tho tw.
previous months showed very lsree figure.
indicating that thr miil were buying heavIl,
They were ir ducneci. doubtless. by the low
prices After the Presidential election price
sti1ened up somewhat, aud go the clo-c OF ma.
months exhibited a clear advance OF 30. Tn,
receipts at tho ports continued quito heavy
and gave every evidence that the crop wa
being very rapidly marketed, thetotal in sinh
treing heavier than for the great crop of 1889
s3. This led 10 the belief that tho crop woul,
De In by January, or 80 nearly il
that an approximate idea could be- lormc,
Of It's size, particularly as 1t was Thought ma
the cnormou receipts could not boz Lcpt up
and would suddenly drop or as those Of On,
previous year did. Throughout the month
OF December prices showed considerabl,
strength. MiddlinEs opened at o ll-lie. an,
steadily advanced, week by week, until, Oh
Jan. ], q full advance OF 7-i5c. had takei
place. During January prices continue,
their upward movement, which, though uoU
rapid. Was steady. Tho month closed Will