The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-23
SAVANNAH'S BIG RECEIPTS.
Second In the List Of Cotton Ports
OF the Country.


antine Waiting-An Increase in
Bank Clearanoes of 33 Ia Per Cent.
During Last Month Over Last Year
on Account Of the Cotton Movement.
The latest estimates of the present crop
Of cotton are considerably lower than
they were month ago. The receipts at
the southern ports from Sept l to Oct.
20 were 1,1170O1 bales, against 1.127, 953
bales for the same period of 1892, showing
a decrease since Sept. l, 1898, of lO,952
bales.
Although there has been a considerable
decrease at a number Of the ports, Sa-
vannah shows large increase over last
years receipts, and stands second in the
list
The receipts at this port from Sept to
the week ending last Friday
night was 275,5 23 bales, against 1885, sol
bales for the corresponding time last year,
showing an increase of Is, 522 bales. The
exports Of this port from Sept l, 1898, to
date, amount TO 19l ,312 against 1872 OH in
1892, showing an increase of 39,295 bales
as compared with the same period last
year.
There are ten large steamers at the
Europe and the Continent, and two at
quarantine waiting TO be allowed to come
up to the city, while a large number of
steamers are chartered to arrive for car
goes during October and November. The
increased movement in cotton at this
port is shown by the bank clearances
during the past month, which have been
about 1875 per cent. abovs what they
were for the same time last year.
THE OTHER PORTS.
The receipts Of cotton at other Atlantic
ports have fallen off, with the exception
of New Orleans, Wilmington, Charleston
and Mobile.
New Orleans has received 278, 1856 bales,
against 213,339 bales last year; an in
crease of GA, S17 bales,
Wilmington's receipts have been 4S, $40
bales, against A, 79S bales last year an in
crease of 3,512 bales.
Charleston has received for this season.
10l ,7O6 bales, against 100, 723 bales last
year; an increase of 963 bales.
Mobile comes next with an increase of
receipts, which are 396 bales. This years
receipts being 1857 bales against 43 ,30l
for the same period last year
All the other ports have fallen short in
receipts of cotton this year, as compared
with the corresponding period last year.
Galveston has a decrease of 62, 695 bales,
"
and West Point are II, 305 bales less than
they were the same time last year
The business world is now watching
the movement of the cotton crop, and
great interest is centered in daily receipts
at the ports. Hubbard, Price s. Co.'s
circular, which was issued on last Friday,
contains some interesting facts and
figures regarding the present situation of
and condition of the cotton crop. 1t is as
follows:
THE SITUATION NOW.
On October Is and 16 killing frost
occurred throughout the Mississippi valley
and the extent Of the damage to the cot
ton crop is not yet known, but in no
other section of the cotton belt would a
frost have been so injurious. Some doubts
as to the correct reading Of the thermom-
eter by the signal service at Meridian
and Brook Haven have been received from
New Orleans, but an examination of the
government returns at many places on the
same night would go to prove the correct
ness of the reports from these two
sections In Tennessee, frosts
were reported from Dyersburg, Mi
Ian, Brownsville, Arlington and
Bolivar; from Alabama, Tuscumbia, De-
catur and Livingston; from Georgia, Tue
Goa, Gainesville and Athens; at Green
vile in South Carolina; at Russelville,
Forest City, Malvern, Brinkley, Helena
and Pine Bluff in Arkansas; Alexandria
Cheueyville and Monroe, Louisiana, and
at BatesvilIe, Okolona, Aberdeen Macon,
Meridian Lake, jackson, Greenville,
Brook Haven, Yazoo City and Port Glib
son, in Mississippi.
UNABLE TO ESTIMATE.
If any of our correspondents will take
map of the cotton belt, and mark these
points, they will be able to arrive at a
a or - Al
cold wave. The temperature at Macon,
in Mississippi, was reported by thu gov
eminent as 26'; at Port Gibson as 30o;
at Cheneyville, in Louisiana, at 320; in
Malvern, Arkansas, as 300; Athens, Geer-
gia 30' These towns mark the lowest
temperatures, and the extreme limit south
and east of the cold wave. 1t is well to
recouect that the previous earliest frost
occurred in 1889, on Oct. z, s and 8,
throughout Tennessee, Alabama, Georgia,
and South Carolina, and did not touch the
Mississippi Valley, and it has been
variOuSly estimated that the reduction
in the cotton crop by that frost was
from 35O,O00 to 500 600 bales of cotton As
result of this cold wave, crop estimates
have been generally reduced, and the cot
ton crop to-day is not expected by the
trade to exceed 300, 900. Many estimates
range below 100000, and the movement
of the crop, which, seven weeks after the
opening of the season, is below that of a
crop of 6,700,O0O bales, is pointed to as
zorro borating the small crop theories. On
the other hand, Neill's estimate of
yield of Z 200, 600 had the effect OF offset
ting the news of damage by the frost, and
the market declined some % points from
the highest prices touched on Monday
EFFECT OF CONGRESS- ACTION.
The situation of the market at the
present time is entirely dominated by the
failure of the Senate to repeal the silver
bill. The uncertainty caused by their
non action keeps the American spinner
out of the market, his purchases up to
the present time being more than 1O0. 900
bales behind last year, and the south is
depending upon the export demand to alb
sorb the daily offerings. Our cables tell
US that the decline on that side of the
water in face of the bad crop advicesi and
the light receipts is due to the weakness
of the southern markets European
holders have been free sellers in New
York, because of the large offerings from
the south. If the crop is as small
as the current estimates point to,
cotton is very cheap, but until each one
of the three buyers is in a position to
absorb his share of the offerings, it can
not be expected that the European buy
ers in England and on the continent can
take all the cotton coming forward ex-
cept at concessions. Last year we had
the worst trade in Europe, which con-
g-4rFF ,-,..ls- 8 81