The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-25
NEARING THE BUSY SEASON.
Chats Among Bay Street Men on
Timely topics.

Bay street is beginning TO liven up IN an :
ticipation OF the busy season. Cotton
factors and buyers are returning, some from
Europe and some from the American sum-
mer resorts.
The receipts OF the new cotton are
watched with interest, and calculations are
/ made as to the slowaess or the rapidity Of
| the movement of the crop. The activity is
mostly in anticipation yet, for the new crop
is coming in slowly, there are no foreign
ships here yet, aud the movement is very
light
The money market is still tight-the buy
ers and shippers are awaiting he move
ment OF money in this direction. which is
expected to begin soon.
Yesterdays receipts of cotton were 1.1O7
bales. The receipts of year ago
yesterday were 2,577 bales, and 1000
bales the preceding year. THE
crop is about two weeks late" said q
buyer, land the prospects are that if there
is an early fall there will be a short crop.
Those rains are damaging the crop consider
ably. Worms are reported in q number Of
places, and If the rainy spell continues
they will do great deal Of damage.
How about the market? Well, the
market is livening up somewhat and there
is prospect of better prices. Seven and
half cents is being offered for good mid
ding. and think there will be slight ad-
vance next month"
Coming from a buyer these words are
significant.
Cotton is going to keep on coming in
late, too" said buyer. until
there is an advance in prices
and a better condition of things. Tho
farmers suffered last year by holding, but
most OF them are able to hold their cotton
for awhile this year, and they will do Sd
rather than sell at present prices. The crop
is late, and there not being the same en-
couragemenJ for rapid shipment as last
year, the movement will be slow"
Very little is heard of steamers bound for
this port to load cotton. Several have been
chartered and will arrive next month. The
largest of these is the Martin Saeuz of
Spain, belonging to the firm Of Pinillos,
Saenz d Co., Of Barcelona. She is now at
Havana, and will leave for Savannah abous
the middle of next week. AS she will have
to go into quarantine here it will be nearly
the middle of September before she arrives
up ready to load. The Martin Saenz is the
consort OF the Pho Mono aud the Miguel NJ.
Pinillos, which visited this port last year
and attracted 50 much attention, being the
largest vessels which ever visited this port.
The three vessels are owned by the same
firm. The Martin Saenz will load about
5000 bales of cotton.
John r. Young is back in his office after
an extended trip north, and looking strong
and hearty. How is the naval stores
marketF' he was asked.
"Well, about the same, no very heavy
demand" be replied. 1.-The trouble is the
lock of tonnage. There Is an immense
quantity of naval stores awaiting shipment,
but there are no ships. There will be soon,
h ope. About 100000 is tied up here in
naval stores the buyers cannot
get out until they can ship their
stock. This has a SIMPLIFYING effect upon
the market, you see If the buyers were
able to dispose Of their present stock they
would be more willing to make new pur-
chases."
The receipts of naval stores since April
are 1855 900 packages, against liz, 900 up to
the same date last year, an decrease of
nearly 20 per cent. The crop is not de-
creasing II the pine area is dimin-
ishing, as Mr.. s. G.. McLendon Of
Townsville says. 1t takes ten or twelve
days longer each year to move the crop,
however, on account of the increased dis
tances from the railroads, the, distilleries
having to push their operations further
away from the railroads each year.
Capt. D. G. Purse did not begin cutting
rice on the Deptford plantation yesterday,
as he had intended doing. The heavy rains
upset bis calculations. He expects
to begin cutting this week if
the rains hold up and there is a
prospect of dry weather. Capt Purse says
that a few days rain will not materially
in1ure the rice crop, but rainy spell just
now would play the demnition bow-wows
with the crop. Like the other planters he is
hoping for dry weather, Us frequent rains
now would repeat the costly experience of
last year.
The rice is ripening now, and with dry
weather the cutting will go right ahead.
Some of the planters on the lower rivers
have rice now already cut lying wet in the
folds. but not in any quantity. The pros
poet is that the new rice will not get on the
market in any appreciable quantity until
after the middle of next month. The
first of the new rice is always prime
rice and brings the highest price, while the
low grades will not get in until October
eve will dispose of the whole crop at about
present prices" said dealer; "not any
more and very little less. There twill be a
good demand for IL"
Considerable interest was manifested
among the business men in the article on
Florida phosphates in yesterdays MORNING
NEWS.
Savannah wants to encourage the Flor
ida phosphate business" said Bay street
man. ut ought to increase ollr fertilizer
manufactures here. We will get cheaper
phosphate, and lower freights GA It,"
AI,rMAYER,S "sPHCrAIsy, FOR IA.