The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-29
COTTON MOVING RAPIDLY
sAvANNAH's RECEIPTS 80 FAR
1859 BALES.

An Increase of 35,i25 Bales Over Last
Years Receipts-The Condition of
the Markets-A Recount Of the Liv-
erpool Receipts Causes a Elutter-
The Cotton Crop in Egypt.
Yesterdays receipts Of cotton at the ports
were very heavy. and as the season
advances they continue to increase. The
movement, while it does not equal that of
lSS7-'Ss, is very close to it. and with that
exception is unprecedented. Savannah's
receipts last week we're 1880 bales, and,
with the exception of New Orleans, were
the largest receipts of any Of the ports.
In the facs of the free movement good
prices are obtaining. The spot" market,
however, during last week declined and
buyers had things their own way. Factors
have been pretty free sellers, particularly
the largest holders.
THE CONDITION OF THE MAKEET.
The cause of the dall1ess of the market is
attributed more TO the corner being off
both in New York and Liverpool. 1t is
stated that there will be an ample supply
OF cotton to meet the September contracts
in Liverpool of Steenstrand, the Norwegian
corner operator. The estimated amount is
about 10000 bales. 1t is said, however,
that the squeeze has been severe on manu-
facturers, aud much distress has been
caused among mill operatives, owing TO the
stoppage of the mills. The bears
claim that although the new crop deliv-
cries are relatively cheap, the near positions
are so inflated that the former may be con-
sidered actually dear, particularly when
compared with other years and in the face
OF the promise of such an enormous crop.
The bulls, on the other hand, claim that trade
prospects warrant the ex pectation of con-
tmued large consumption of cotton;
that the exhausted stocks of the
world demand a larger supply than the
total crops of the last two years, and that
a higher range Of prices will prevail.
A RECOUNT IN LIVERPOOL.
The news from controlling markets was
slightly more encouraging yesterday, and
futures were advanced a couple of points.
1t is believed, however, that the discovery
OF discrepancy in the stock at Liverpool
caused this, a recount having been made in
that port which decreases the stock there
some $1,000 bales, of which $4,000 bales
were American aud the balance Egyptian,
and other importations. Thus far Savsn-
nah's receipts this month have been 1872, $40
bales, against 81, 454 bales last year.
The New York Journal of Commerce's
correspondent says of the Egyptian cotton:
THE EGYPTIAN CROP.
THE reports received during August
have continued favorable. From early in
ths month the Nile attained level suffi-
GENTLY good for assuring easy and abundant
irrigation almost every where The tenn
perature also has been hot thus making a
good Towering season, and the plants show
an abundant supply of flowers and p1ds,
some of the latter having reached
maturity The crop is estimated to
be some ten days earlier than in 1898, and
by Sept. 10 the first picking will have COM
menced in the larger part of lower Egypt.
Worms have considerably diminished, and
in some parts disappeared. The damage by
them is less than that OF Lass year, wheI
also it was unimportant. Fogs appeared
only at the end Of the month of
August; so the trees being we'll for
ward, it is hoped the damage will be small.
The above reports refer to lower Egypt.
Upper Egypt aud the Fayoum keep free
from worms and fogs Our correspondents
III the latter provinces speak well of the
crops, and tho first picking commenced
some days ago TO coAclude: The rep )rts
are god, and crops are looking
well every where, with a promise Of
good yield if we escape fogs, cold
weaGhe-, or other untoward accidents Re-
ceipts from upper Egypt are suill behind
| those of Lass year. All new cotton is quickly
bought up and shipped for England. Con-
tracts firm. Go d far brown, November,
S13 1875; December, s13 035. Gallini-Less
has again been planted thus season, viz {:
| 1,200 to 1900 feddans only, which
cannot produce more than 1,00J bales in
| all; the quality expected will not be very
| good. Ashmouny-The crop OF brown
Egyptian, Z to 13s inch staple. promises
! e. be good IN quantity and quality. By
| Cable-Alexandria, Sept %. Brown. Ia
mise and Afii az So l.; Toe at SNd;
Newa at SIS l.; Suef at Sd-Ocsober suip-
ment, cost, freignt sand Insurance., New
| YORK;