The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-06

Two weeks following all cdlCuldtiOus were ul'SCe
by the weather which was bad, aud destroyed
great deal of cotton AMI injured the quality
Of great part Of the crop. The movement Of
the crop to the ports during the first quarter OF
the year-that is, up TO Dec. /
was so slow that it looked as if
the lower estimate would be the more correct
one. and this had the effect of sending up val les
early in December. BY March, however,
the volume, both overland aud to the ports
had reached total almost equal to that OF the
previous season, which indicated a yield APP
p. oximating 1000, 900 bales. AS was the case the
previous season. speculation and manipulation
| were diverted to the ate SUNNI months. re-
sulting in a Liverpool corner. This hal the Of
feet of increasing spot valu IS, which reached the
| highest point during re year in the latter part
Of last month 1t is now thought that the crop
| was 1000, 900 bales or more. In fact, when the
official figures are received they may show that
It was close to the great crop of lSs7-'8S, which
was 7,O46, S33 bales. OF this large crop Sa-
vannah's pro Jortion was not as
great as it was the previous
| season, but she is not alone in this respect as
| Clarleston's shortage was greater percentage
in proportion to her receipts Curio sly enough
the Gulf ports show increase of something
over 10000 bales while the South Atlantic
ports are just about the same number of bales
short. The net receipts at the North Atlantic
ports we're fully 10000 more bales than the
previous seas n, but this Is accounted for by
the large consumption of the northern mills
and the very heavy overland movement from
Texas. Savannah's loss in receipts, however,
has not thrown her out of her old position of
the second largest cotton port of the United
States She has easily main tanned it, and, in
| daa barf Iosf CHI
can spare without losing any of her prestige ss
leadin cotton market. 1t is believed that
her shortage was not the result of
any cotton properly belonging TO
her being absorbed by any of her rivals,
especially by those near by, as they are suff =
ers from short receipts. From this fact the
| conclusion is drawn that the weather last fall
| IN the Savannah valley had more than anyth ng
else to do with curtailing tine receipts at all the
| South Atlantic ports 1t will be remembered
| that this section was visited during picking
| time with heavy rams accompanied by storms
| and cyclonic winds which had a very disastrous
| effect on cotton in the fields and good deal of
it was lost by being storm beaten; besides, that
which was not lost was filled with sand and dust
| The oyerfiows were particularly severe along
the line Of the Central railroad, an on the Sa-
| vannah and Ogeechee rivers, especially
| in the low lands where the crop before
| the bad weather was very fna The
receipts from these localities particularly,
showed a marked fall ng off. This great
| damage to the crop was not without is effect
on interior mercha It's, planters and middle
men, as it caused good many OF them to fail
| in business, which was felt to some extent h ere
anon jobbers, who had to bear good portion
| of the losses. The fai ures were more umer-
| GUS along the line of the Central railroad. OF
| course, the freshets did not do near so mucl
damage to those planters on high lands, but
they were retarded to some extent by bein
| compel d TO wait Until the cotton could be
| dried out before ginnin In ia t, all the cotton
| markets ffered to a greater or less exteat
| from the injury, caused by the weather, 30 the
| quality of the cotton, but none near so mucl as
Savannah. The crop, as whole, was very poor
| in classihcatio an for time last fall the out
| look for this market was far from bright,
owing to the prejudice existn among spinners
a sain,t the character of the cotton
The season was notable for the absence of
really fine grade cottons There was a very
small proportion OF pretty or clean cottons, and
| the market was characterized by wide diff r.
| ences in values. Indeed. at one time last fall
there was disposition to boyc 1T cottons from
1
went so far as to tele raph their representa-
! tives structions not to touch bale OF Savan-
nah cotton on a unit of its S andy nature. poor
| staple and off color. The result of this was thar
in the early part of the season the mar ct
dragged and matters looked decidedly bad, aud
| Savannah suffered very much, but the extraor-
| binary derna I'D for cotton by European spin
| ners. and the rapid absortion by the domestic
| mills, forced Liverpool operators to take our
| cottons, resulting in the end in Sa-
| vannah coming out with flying cooYs. 1t
| was a notable fact that even Charleston's
| sales showed up better In quality than Savan-
nah's. AS usual, when the crop is poor on'
Savannah's factors generally enjoy a large
trade by reason of exporters being distrustful
OF interior buyers I'd also their desire to buy
where the cotton can be inspected by them
selves. There was not, therefore, as much bust
ness done b. interior buyers as they usually do
when the crop is a brgat, clean one There
was frequently, during the early part of the
| season, so ne yhtness in the money market
but is was only temporary and was not a SO.
rious source of embarrassment to factors.
owing to the great de uand and rapid sale of cot
tons. There never a season yet when the
d mand was 50 steady and stocks moved off SO
rapidly not allowing any heavy accunula
| tons. Prices averaged we'll throughout the
season. although they were naturally low, but
as a matter of fact, the cotton brought all il
was really worth. In September the opening
} price for middling was 9ssc., and advanced tc
919c., owing TO this light receipts, the cotton be.
com ng banked up in the interior, because the
railroads were INSTRUCTED by the floods. Con
sequenty supplies were light, aud the receipt.
for the month were the smallest ever known a
this time. Toward the close the market easec
OF, closing at 94c, This was caused more b,
reason OF the scarcity of freight room for early
shipments than by any actual weakness In
October freight room continued scarce, with
rates advancing, and, in addition, there wa,
some strin ency in the money market Mid
dlings opened at 91sc Stocks were offerec
freely, and factors kept their stocks pretty low
1t was altogether BUYERS mar
ket, and values steadily fell off
closing at s 15-16c, a decline of S-1e,
on the months business. In n ,vember hold RS
became firmer in their views, and although I II
! demand fell off, offerings were not SO liberia
and values hardened, middlings opening al
8 1S-l6c and advancing to csc Freight room
was more iibe al and rates were easier. bur the
inquiry was confined to the better Qualities fol
which relativ ly higher prices were being paid
{ owing TO their scare ", while the lower grades
l were neglected and declined. The month CLOSED
at l-i6c, net advance of sc, but at the ex
> pense of the poorer gu lities, of which Their,
L..