Savannah morning news. [volume] (Savannah) 1868-1887, 1886-09-07

|
| 1sc, but towards the close of the month had
recovered Lice. October opened at Q leo for
mlddlings but during the month underwent
a regular see-saw movement. The chief
| causes to unsettle prices during the month
| were the strikes at Oldham, heavy rains, ac-
| companled by storms, and the troubles in the
Balkans. AT the close of the month middlings
were of fully &c. November opened with
iull decline OF 8-l6c, but at the close was some
Whst steadier at recovery of 1kc. A search
ty OF freight room caused prices to fall off in
December, opening at 3-i6c for middlings
and closing at 8 9-l6c. January opened at
the latter figure and advanced 8-l6c, only to
again fall of &c at its close. February prices
were on steady though gradual decline uu-
TIL the 9th, when they touched -l0c, the
lowest point which they reached during the
year. March opened with recovery OF &c.
by the 9Th, but closed with Lice of for the
previous advance. April there was
better business doing, and though
receipts were large holders were
firm in maintaining prices. and at the close of
the month clear advance OF 1sc. had taken
place. In May the receipts at the ports con-
tnuing large, buyers were bidding lower,
and midddngs were reduced I-l6c. June
was very dun month, but the price held
| steadily at IL lee, for middnng. In July the
| reports from the growing crops of rains Gd-
| vanced prices during the month fully 3-l6c.
| During August the market as rather dull,
| but prices ere advanced in the early part
| only TO be reduced again at it's close. IL will
| be seen that prices VIZ n even lower than was
looked for, although the crop as moi as arge as
was indicated at the beginning OF the season.
| This can only be accounted for by its quality.
| From the present STANDPOINT it is believed
that the crop for the present year will reach
! 500, 200 bales in round numbers, which win
place IL next to the largest crop ever pro-
duced, namely. the great crop OF 1928,
| when 1t came near touching 100000 bales
| OF the past years crop our receipts were
S0S.439 bales, showing an Increase of 7g,437
bales over the previous season. This of itself
! Is gratifying fact, but stI our receipts, con
sdering the faciiities of the port for handling
the staple, should be much larger. Its rivals,
| New Orleans, Galveston and Norfolk, show a
greater increase than it does. Charleston,
| however. actually shows decrease of fully
| 10000 bales, which was apparently absorbed
| by Wilmington. as her receipts have increased
| about that much, This is thought to he from
the efit Cts of the workings of the pool, which,
| to all appearances, fixes the receipts of the
| South Atlantic ports at a certain figure be-
| yoDd which they cannot go. Savannah, how
ever, continues to maintain her supremacy
among the South Atlantic States, and as tue
| second largest cotton port in the United
! States. Our foreign exports show quite an
| increase, and another feature-and Il rather
remarkable one, tools that matters have be-
| come somewhat changed in the foreign export
| trade. Instead of Great Britain
getting the bulk of our exports. as has
been the case in former years, Germany has
|
seen that we exported last year more largely
to Bremen than to Liverpool-fuliy 20 per
cent. more. There were some approximations
| in the spring that the new process Of ccm-
pressing cotton at Norfolk would re golution-
ize the cotton trade at other ports, but it was
| dispeed later on. as 1t was found that the
| new process would never do in a rush, or, in
| other words, was not practicable for RAPID
| work; and as the cotton season does not last
| very long, the conclusion was reached that
this of itself would not interfere with the
| business Of the other ports. Its oniy advan-
| tage is in the duller season, when less speed
| is required. Where vessels are chartered to
| load for lump sum the charterers are ena-
| bled to allow some rebate to cotton shippers
and the ship in consequence is made to carry
| more cargo. 1t is OF no concern to the
vessel whether she carried one bale to
the ton or five bales when chartered in this
way. II is certain that the rebate system has
much to do with the receipts of a port, and
wherever the exporter can obtain the greatest
rebate there his shipment is pretty sure to 60
No matter how much economy Is exhibited ~
the handling Of the cotton, IL the returns in
the way Of rebates is not greater in the pock-
cts of the shipper his cotton will 60 by way of
the dearest route, and this seems about all
Hfaf fha int riu
their work. At all events, this has been past
experience.
There ia said to be some prospect that our
receipts for the coming season will increase
very ma aterially, owing to the reduction by the
congresses In the rate of com pressing to 85.
per bale. The previous rate was 60c. per bale.
This is quite q reduction In favor OF the vessel
as possibly 1t will leave margin for the ship
| to allow rebate to the exporters. On August
| 81, the close of the cotton year, the following
spot quotations were given by tho Cotton
Exchange for new crop cotton; old cotton is
| held higher.
MldCIlnB ihir .'''''... ..''''.s'''.''.........O
Good middling OBSERVATION-DISCLOSURES.
Miudlng.. ..'.''............- ......,.......S2S
Low mludling g'''''.' ...........'..........o
OUTLOOK FOR TIE PRESENT EAR.
The reports as to the coming cotton CROP
| are still conflicting. The indications are that
! it win not be as large a crop rs the one just
| marketed, although the acreage is Just as
large. During the summer months there was
| quite heavy and frequent rains in some Sec
| tions, while others suffered from drought,
| particularly In Texas, where large yield
was expected. The reports, however, for the
past week indicate some slight Improvement.
| II the frost is late and there should be an oc-
caslonal rain, the amount of the crop will be
very much improved, and there are fears OF
its clearing up and the burning up Of the
sappy plant, making II rust and shed. The
worst weather, however, Is yet to be expected.
The new cotton coming IN is very beautiful,
both in texture and color. 1t is we'll pre-
pared and drier than has been the case for
several seasons, which makes II all the more
desirable. AS to prices, very little can be
said as yet. At present, prices are declining.
but it is thought they will soon improve as the
crops come forward more freely. Stocks are
very low, both at the ports and In Europe.
with the prospect OF a smaller crop IL is
thought values will increase, besides the in
dica lions are for an active business during
the fall. Reports from all over the country
are quite encouraging. while the manufac-
turers OF cotton goods report but small
quantity on hand. The fabric market seems
very firm and tending up. AT all events the
.b