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

I HAANA y 1ANHA kAAEA 49, ~ ~
throughout February prices steadily ad-
vsnced. On the 10th they reached 10 %l5-l6c.,
the highest point which the official quotations
touched during the season, though II il a
we!I-known fact that sales were made at lie.
for middlings. Prices remained at
this point for fully a week,
and on March g began to recede
steadily, and at the close OF the month were
on fully C-loc. In April there was a slight
advance during the second week, but at the
close there had been a reduction of nc. May
opened with a further decline OF &c. This
was fully recovered at the end Of the month
During June the depression among the mills
made prices very weak, and throughout the
month they were marked down 7-l6c. In Jaly
the depression atIl continued. and the returns
from the cotton belt 81 Increased acreage, and
the excellent stand OF the coming crop caused
q further weakening Of prices. They were
again marked down 4c. for the month. An
gust witnessed a stu heavier decline The
mouth opened at SIC. for middling, and
closed at 9Ac., a decline OF &c. 1t vail
be seen from a comparison Of figures
that Notwithstanding the fact that the crop
was shorter than was expected, prices aid not
continue 10 be as good as there WAS reason to
hope they would be. The season OF 1884
opened at 915c. for middling and closed at
l0I5c., while the season Of lsS4-S5 opened at
1910. and closed at &c. The highest price
during l8s3-Si was ne, while the highest for
1ss4-s5 was lie. Stll, all things considered,
fair average prices were realized, particularly
IA the early months, when the bulk of the
crop was marketed. That the planters aid
well IS evident from the fact that they were
not drumming the factors ~ frequently ana
for rs large amounts OF money during the
season as w6s the case during previous sea-
sons. They began the season owing less
money than they did the season before. II is
Very gratifying to note that the takings
of the northern mills were larger than the
year previous, while our exports direct to
foreign ports were also greater than they
were in lss3-s4 or l8s2-s3. The experience of
exporters was similar to their experience Of
the previous years. There were several fail
ures among them. and some OF them were
compelled to 20 out Of business altogether.
There were seve- al reasons for this condition
of affairs. The large deliveries were made 10
the carly autumn months on contracts made
in the spring, and the tendency of the trade
from year to year is 90 assume more aud more
the character OF u delivery on order business.
These deliveries are generally for the best
grades. and as a rule, in all years, except the
last two, there was some margin for the
exporter, which was not the case
in the last two years, owing
TO the excellent quality Of the cotton which,
Of course, caused 1t to be graded high. The
season was a fairly remunerative one, how
ever, 10 the factors who had the advantage Of
quick handling. At no time during the year
were they crAmped for money in carrying
stocks. Throughout the year money was
plentiful and the notes OF interest were very
easy. The spirit Of economy exhibited by
planters and interior merchants, who made
no extraordinary demands for advances, was
also 10 their advantage. Collections were
excellent all through the season, and there
was less money tied up in helping middlemcn
and planters than was the case the previous
year. Our business men met with
sharp competition in West Florida from
New Orleans, not 50 much in the way
Of con5ignments Of cotton as in
the sales of cotton bagging and ties. The
practice Of buying at the plantations and int
rior towns WAS again very general during the
past season, and is practised now more than
ever by foreign exporters and the Northern
mills. It~has been aided, Of course, by the
very excellent quality of the cotton crop,
which was clean and of %spieudid texture, zen
dering 1t 4 very easy matter for an ordinary
buyer to purchase. If there slould be 3 crop
badly damaged by wind and rain the practice
might be checked. but not stopped.
1t il thought that the coming season will be
just such "a one as will furnish cation that
VIII put the practice to IA test Develop
ments are awaited with a great deal OF in
terest. In closing this review il NAV not be in
appropriate to say that the planters and fac
tors are to be congratulated On the general re-
suit Of the years business, which apparently
was quite satisfactory. Notwithstanding the
crop was smaller han that'Of the previous sea
son and Notwithstanding the depression that
existed in pretty nearly all Industries they
closed the season better of than they were a
year ago. On August Slst, the close OF the
year, the following spot quotations were given
bv the savannah Cotton Exchange.