The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-09-03
SEA ISLANDS.

The sea island cotton crop marketed here
during the past season was fully 10000 bags
less than that ofthe year sg0-9l yet, with
the exception OF the crop of the season
previous it was the largest ever produced
In this section. The past season was to a
great extent a disastrous one to both
planters and middlemen. Prices ruled so
low that they almost bankrupted some of
the latter. 1t is claimed by those interested
In the trade that sea island cotton cannot
be raised at the prices which prevailed
last year. In the early part of the season
the highest prices OF the year prevailed
which was the cause of the misfOrtunes of
the mtddlemen. They made most OF their
purchases and contracts with the planters
on the basis ofthose prices. But fater on
the staple declined so rapidly that they
lost heavily, not being able to count on
single shipment. The main cause was over
production, especially as the previous crop
was such an enormous one, and spinners
had stocked up considerably on account of
the cheapness of the product the previous
season. Buyers had every advantage dur
ing the past season, as whenever they had
an order to I'LL they could go 10 the factor
and select from the offerings whatever was
desirable aim ost at their own figures. This
was more OF less influenced in the first
part of thess eason blythe enormous receipts.
The product last season was not as good
as that OF the previous year. The staple
was good, but it was very much "off" in
preparation, and there was more tinged
and stained as also more blue cottons than
is usual, and good deal of cotton was
D1du6 NEUTRALITY-SUSPICIOUS. ny reason OF Lle
carelessness of gianers in washing the
seed, thereby lowering the value Of the
staple fully 298c. per pound.
The season for all concerned in sea
island was Unparalleled. ( Prices were the
lowest eVerIlSnoRn, and interior merchants
were at all times in a distressed condition,
as they were without credit, owing to the
depressed state OF the market The factors
had pretty generally anticipated a poor
season and scrl tniZeds closely the credit
and standing ofthose who applied for ad-
vances. In many instances advances were
only make at margin to cover fully any
! heavy decline in the market, During the
season there was very little of anything
approaching activity. Most Spinners We're
quite late IN coming into the market. The
buyers for foreign account, however were
steady purchasers, principally because
they had no difficulty in filling their
orders. They had things their own way,
previous season, they took cotton freely be-
cause 1t was cheap. The result is that
foreign splnners are even now carrying
| quite heavy stock.
| The production in Georgia was large, not
quite as heavy, however, as forIthe previous
! year. One feature of the Georgia crop was
that 1t was more saleable than the pro-
duct of the other states although coarser in
staple by reason of its better preparation.
| The bulk of IL was prepared and ginned by
! White labor. Florida had decreased very
! much Its production. In fact in some
| counties OF Florida the culture of sea
island has been abandoned altogether. In
| South Carolina the growing Of thfs class of
| cotton is steadily on the decline. The
heavy crops in the past few years have
| demorallZed planters to some extent and
! they have paid less attention to the Guilt
| walton of sea Islands. In the matter of re-
| new ng seed, The idea of the South Carolina
people apparently has been to take as little
| trouble AS possible to produce the best
! seed, but to get the crop to market as
/ quickly as possible, owing TO the low valua-
/ ton and the fear that IL would go lower
/ This paTplRSgnaSS IL might he fRrunnd
! reckleSsness, has had much to do with cot
! ton decl ming to such ruinously low
| figures. The planters succeeded during the
past summer in making arrangements for
| 4 cheaper crop the coming season. They
have bought but little fertilizers, which
! viii leave them more of the proceeds OF
| the next crop with which to pay off old
obligations and make purchases for the
| succeeding crop. The severe drouth in the
early spring, during the planting season,
/ caused some planters to lose the oppor-
! tunity of producing crop this season.
AT the time Of ginning last fall many OF
| the planters failed to reserve enough seed
! to meet the demands which presented
itself last spring. After the planting sea-
! son the continued drouth caused the seed
| in the ground to rot and the price Of seed
| advanced S29S3 per ton, making IT a
planters, who were unsb to replant. The
| consequence is that, without the prospect
OF crop, not a few of them find the
financial outlook gloomy.
SEPrEMBER-This being the opening
month of the year there was not much
| doing. During the first week bags were
sold OF new crop, intended as types, on the
| basis Of l515c. for medium fine. Buyers
were anxious to secure the brightest cottons
Is samples. The receipts were mostly dingy
| and discolored throughout this month until
| about its close, when receipts improved
both In color and quality. The inquiry was
| slow, while the market ruled quiet and
steady, medium fine selling up TO l6c, on
| improvement of the quality. The receipts
| during the month were 4U2 bags and the
! sales were 400 bags.