The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-11

ding clause. November 26-6tI4 9T-Gtd:
November and December. 4 25-6t0t % old:
December and January, 20 6ift4 26-6ld: Jan
uarN and February. 4 2664d buyers: Febru-
airy and March 4 2T6f8i 2S-64d; March and
April, 25Bid. sellers; April and May, 1904
a. 5l-64d; May and June. 4 p 6ld. buyers.
June and July, 4 3i-6.d. sellers. Futures
closed steady.
New York Nov. 10, noon.-Cotton contracts
opened steady at 4d6 points decline, rallied
ao1 points and are now unchanged to point
over Yesterday.
New York Nov lO.-Cotton futures opened
steady, as follows: November, 9Oc; Decom-
Der. c9c; January, he; February, 2Uc;
March. pc: April s 36c
New York, Nov. 10, p. m.-Spot cotton
closed quiet and steady; middling uplands
5l6c; mtddling orleans 9-l6c; low mlddling
SIC; good ordinary 8 l6c; sales 90 bales.
Futures closed steady with sales OF III 400
bales, as follows: November. : lsC; Decem-
her. &c, January. PC February, g 36c;
March 4ic; April sic; May, $ SOC; June.
New Orleans, Nov 1O.-Cotton futures closed
steady. with sales OF $3.50 bales. as
follows; November 65c. December soc,
January gle. February OOc. March = 09C
April : lie, MAY 2lc. June 3 Bic
New York, Nov l0.-The Suns cotton re
view says: Cotton opened to points
lower. owing to the Disappointing advices
from Liverpool, where prices fell of points
and spot sales were only 5000 bales. Besides,
the re 1elpts at the ports were pretty liberal.
and some tired bulls were disposed
however.
was an upward movement, owing to
the hulhsh crop report issued by the govern
ment, which some think points TO n yield Of
only 63DCOJ taleS, the production OF lint per
acre being stated at only li9 pounds. against
40 pounds last year Covering by shorts and
leSSsned pressure to sell for long account,
caused an advance and the market closed
steady alta rise OF Ito 10 points. Receipts at the
ports were Al, 81 bales, against 46 100 this day
last week and 5l476 bales this day last wear:
total for the week 292 592 bales against S2s. 10
last week and 26952T bales this week last
year. Southern spot markets were moderately
~ quiet and unchanged. savannah was Lice
lower, Ond Norfolk ami Memphis easy. New
Orleans Old 5000 bales and Galveston 7G}
bales. In Manchester yarns were weak and
clOthS quiet Receipts at interior towns this
week los 400 bales, last week 1883 last year
% 535. Stock this week 275 .S9l bales: last
week 266,505; last year 2i3, S35.
New York Nov. l0.-RiOrdan & Co. say Of
cotton: Things looked very blue for cotton
at the opening today. Liverpool had broken
sharply; the receipts. both at the ports ald
interior towns, were exceedingly heavy, and
the bears were confidently bOaSting that
January would sell below &c before the
close of the day, but the uneXTe tied is what
always happens January opened at S.l3e, >
points lower than yesterdays closing price.
but that proceeded at first slowly and then
with more spirit, January advancing to S.2lC.
Until noon the price fiuctuated between that
price and Sl9c. But the bureau report, which
was announced little after II o'clock,
put different aspect upon the trading. The
taCtS ana conclusions stated in the report are
OF very unfaVOrable character and indicate
a crop OF less than 65OO00O bales. or course
the bears ridiCuled the assertions of the re
port, and pointed dersively to the freshly
posted bulletins Of heavy receipts but this
ala not deter the traders from active buying,
and January climbed to S.3Oc. The close was
steady, with S.29c bid for January. The QueS-
ton now is, how VIII Liverpool regard the re
port: The bears are Enthusiastically anxious
this afternoon
Y
pany say of cotton The government estl-
mate OF lint per acre of the crop of 1S909i was
ls9 pounds and the estimate of to-day of l49
pounds Is 20 polnds below the average
OF the SIX preceding years. In addition to
this the official figures we gave yesterday
from New Orleans show that the port receipts
up to Nov. | weighed over seven pounds less
than last year and yet the crop betters and
crop esiimatCrs are telling US, ten months be-
fore the end of the cotton year that the south
Is to make O90O0J bales. The government
made no report last year Of lint per acre but
said that the returns showed twO-hfths to
own figuring to see whether this estimate is
realized or not. Putting the acreage of the
present year at 10 100000, which Is Mr. Henry
Neil Othcml estimate OF the acreage this
season, against 306)0 900 In lS9l9i and multi
plying by 40 against lS9 in lS I, and dividing
this result by A o pounds to the bale and we
have crop OF 6O5OOJO. But we will say that
the government is a million bales out of the
way, and the crop wi | then point TO 1000 00O.
against 8,65OOO0 in 1s9l91 II there is any
bear consolation in this, we fail TO see it, The
bureau estimates of acreage this year are
l6U0C0) by Mr.. Neil, ~ 200,OOO and the
Chronicle, ~. 701 600 Therefore the average
of the three is 1857 coo But we have taken
Mr.. Neill's estimate, as he is considered the
o1icial authority on crop estimates, and there
is Il disparity between his acreage at l49
10 lnds to the acre Of 2O10O0O bales between
what the crop points to in the government
report and the estimate that Mr.. Neill is re.
In a "a mn ~ IN nd Il i'm
to that Of last month which was 10000 min
imum. Port receipts for the week were 292
502, against ~ last year interior receipts
were l0S.OO0 against 5000 last year and 49,
OO1 last Friday. Under the influences Of "A
lower Liverpool market Of , to3 points this
market opened to points lower, but quickly
improved, and the closing is II points
higher than last night. A much better
Liverpool is expected to morrow, especially
as the spinner may be given a surprise as to
the probable Outturn in the quantity Of this
crop, and though 1t may be tiresome to our
readers to repeat, at the same time spot de-
mand is essential to permanent improve
meat in contracts. No matter how liberal
calculations may be Of the bureau figures Of
to-day after making all allowances. such as
we have done By adding 100000 bales, there
is no way Of arriving a "a crop. based on the
government report, larger than 100000 The
market is in better position, because OF the
disappearance Of 5000 900 estimates. so far as
such figures giving credence Is concerned.
The effect of the report to-day should
strengthen every southern SPOT market, and
this. too should have its effect on Liverpool
and the continental, as well as the American
spnners. Watch the spot situation closely.
aud govern your buying and selling accord
ingly, as the foreign and domestic cons inner
Is buying or not buying cotton Port stocks
to-day, 10000; last year. $500 interior
stocks 277 O0O last year, 243 900, or a net loss
compared with last year, OF 1000, thus con
frming our recent statement that there is no
weight OF stock in this country, and that
stocks to-day would g less than last year.