The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-05


was sdcn asnan amount ofspot cottor as at this
time, with the daily local receipts light. Prices
began TO gradually advance. The receipts by
/ factors continued smaller than usual The
/ trade was light, owing 70 the free on board
/ business in the interior. The month closed with
I middlings at Il-l6. The market, however
was dull and stocks in first hands accumulated
4 There was besides large amount Of cotton
ahoat.
/ December opened up at 1I-16c, the offer
ings being somewhat reduced, and with factors
IN strong position to pass over the holiday
season The market, however became duh.
OWING to the strike OF the 'longshoremen. The
stock accommodating. the feeling became easier
and prices went of slightly, with the receipts
large and orders slack as the holidays ap-
preached The month, however, closed with a
better demand, though there was a tight money
market With full stock offering mIddlings
we're held at 9-loc
good business set in with January. and the
market became very firm at s916c The de-
mand was active and general, and factors we're
again pretty well cleaned up. The stock being
smaller than at any time during the season
prices steadily advanced The receipts were
falling of and the stocks both at the ports and
In the interior towns were light while that afoat
was materially increased, the month closing
hrm at l011c. for middlings-
February opened dull at losSc for middling,
with the market somewhat easier. but this was
only temporary. and reaction set in, prices
advancing, although port receipts increased
the consumption evidently keeping up with
supplies in sight. The market continued firm,
and the stock fell OF at this time above the
average. The month closed firm on a light
inquiry and middlings were quoted at i05sc
March began dull, with middlings at 105zc.
Receipts at the ports increasing, the controlling
markets weakened. The local receipts, how
ever, were small. and the offerings were of the
best quality, with midding grades in most re-
quest Holders continued frm, while the desir-
able grades were scarce, aud an advance was
made to suit factors. althougha tight money
market prevailed. The month closed at 1915:
for middling.
April opened with a still further advance of
1-10c and slow de uand and a slow business
The market gradually relapsed into nominal
condition, holders remaining Arm. On a re-
count of stock discrepancy of 1000 bales was
discovered, which increased it, causing the mar
ket to continue dull and nominal. Factors pre-
served very firm feeling. although slow de-
mand was the rule. Still holders refused to
part with stock except at pretty full figures,
and middlings were quoted at the close at 1l1zc
a clear gain Of 5-16c and that on a very dull
market
May opened up very firm at further advance
OF 1sc, the demand being still quiet and the
offering stock small, but the supplies in sight
were much smaller. The local receipts became
larger and the demand again slackened until
business was entirely nominal The receipts,
however, at the ports aud the interior
towns were unprecedentedly light, while
controlling markets became very
strong. Tho local stock was well
10 hand and prices took on a squirt until. at the
close of the month, middlings lad touched
l2]sc, the highest point of the year, although a
very quiet feeling prevailed.
June opened with an easier feeling at f15kc
for middling. The offerings were very light
and the demand equally So There was also
very poor assortment which. of course, limited
| business. The reports from the Egyptian and
Indian crops, as well as those of the domestic,
| were uniformly good, which weakened controll-
| ing markets and prices began to recede. The
supplies in sight, owing to the falling off in con-
| sumption, increased. The stock, though small,
was accommodating and holders were more dis
| posed to sell. The month closed dull and easy
| with midd!ings at II 7-16c, q clear decline of
| 1-16c on the month.
July was extremity quiet and the buying
| nominal. very little interest being manifested
either way although with the passage of the
silver bill the market took on a slightly hrmsr
feeling. which was only temporary, the crop
| reports continuing extremely good, and
stringent money market causing business to be
| more or less nominal. Stocks. however, CON
tinued to be strongly held, and the month
closed quiet and firm at 1i11c for middling.
August opened up quist at 1lJ6c, The market
continued dull aud featureIess for the first half
of the month, and until the receipts from the
new crop became 50 free that prices were
! weakened so very much that the month and the
year closed at 1o1sc for middhng.
The cotton now coming in shows that the new
| crop is of good color and good body Staple
and prices are fairly good also. Unless receipts
should be extraordinary large for September it
is not likely that prices will go much lower then
they have last year. Should the receipts show
any falling off the chances are that the corner
now threatened in Liverpool will be much more
successful than the last one. Savannah last
fall suffered great loss in ths destruction by
fire of two compresses The wisdom of the
| cotton press association in keeping
one Of their presses in reserve for
just such an emergency as this fire caused, was
illustrated. The cotton business, therefore
was not crippled by the fire. 1t went on Just as
smoothly as before, by working the reserve
| press and the others overtime. The require
ments of business were fully met. The Cotton
| Press Association has replaced the two burned
presses by two of the most powerful congresses
| in the United States. Indeed, it is said that
there is not another compress as large or as
powerful in the country as either of the two.
1t will, therefore, pay vessels to have Interior
compressed cotton recompressed here. These
| presses will be a strong inducement for
bringing cotton to Savannah, because they can
not only compress cotton to better advantage,
but they are in freproof warehouses, and in
surance on cotton stored in these warehouses
will be cheaper than anywhere else in the South
The opening up of the Alabama Midland will
largely increase Savannah's cotton receipts as
| a magnificent cotton producing country is
| tributary to that road. 1t will be a feeder to
the Savannah, Florida aud Western Railway
The new roads, the Savannah, Americus and
Montgomery and Savannah and Western, will
also help to increase Savannah's cotton re-
ceipts. Heretofore the cotton of the territory
traversed by the Savannah, Americus aud
Montgomery went to Brunswick. With these
additional advantages for receipts Savannah
cannot help having a great increase during the
year 1890 81 in her already great cotton receipts
The trade is now fixed that drayage is
! avoided, the warehouses being SO close to-