The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-12-12
STATE BONDS
GOVERNMENT RoNDS.


GOVERNMENT BONDS
United States IS, registered. ..........1I4
United States As, coupons .................ll6
United States p, registered ....,....,... 95
$Asked ibid.
Liverpool, Dec. H. noon.-Cotton, fair de-
mand; freely met, at unchanged prices;
American middling, 44d; sales IL 900 bales
American, 10000 bales; speculation and ex-
port, 900 bales receipts, % 600 bales; Amer
lean, 1920 bales. Futures opened steady; de-
mand moderate.
Characterization middling fair, low mid
ding clause: December l0-6id; December
and January, 9-6id, also 4 l0-64d; January
and February. I0-6id also 9-64d; Febru
airy ana March, 4 l0-6id also 1l-64d; March
and April ll-64d, also l2-64d April and
May l2-64d, also l3-64d: NAV and June
4 1860, also l5-64d; June and July, 4 l6 SD,
also lo-64d; July and August, 17-6id. also
1S6id. Tenders 100 bales new dockets.
p. m.-Cotton, American middling fair,
ll-i6d; good middling, 49sd middling. 414d;
low. middling 4l5d; good ordinary, 8l8-l6d
ordinary, ID.
Futures-American middling fair low mid
ding clause: December, S-64d, buyers; De
cember and January 4S-64d. buyers; Jan
uary and February, 4 s-6404 9-64d: February
and March 9-6f84 l0-64d; March and April
1 ll-6id sellers; April and May, l2-6id
4 l364d May and June, 1850. buyers; June
and July. 15-64a4 l6-6id; July and August
lT6iG4 1850. Futures closed steady at
the decline
New York, Dec. II, noon.-Cotton contracts
opened steady at 4GB5 points advance and
gained 2H3 points on a steady Liverpool mar
ket but fell on the heavy receipts, and closed
very steady at 597 points below Saturday
prices
New York Dec. 11.-Cotton futures opened
steady, as follows: December. sec; Jan
uary, &C; February, Csc; March, 75c;
April, s3c. May, g2c.
New York, Dec. II, 4 p. m.-Spot cotton
closed UtLlrl- UllgIiiUu UnIaDGg i3- mid
ding orleans l-l6c; sales 3.i0l bales,
Futures closed firm, with sales Of 22O, 100
bales, as follows: December. 54c January,
SIC; February, sc; March, 14c April.
SIC; May, 9Oc; June. ESQ., July, Csc; Au-
gust &c.
New York. Dec 1.-THE total consolidated
netreceipts at all the ports to-day were e. $50
bales; exports to Great Britain 81 ,453 bales, to
the continent 1031 bales; to France 5.207
bales; stock /, t73, 430 bales.
Total so far this week: Net receipts l07 AL
bales; exports to Great Britain 90 400 bales.
to France %, l60 bales, to the continent 1852
bales.
New Orleans Dec 11.--Cotton futures closed
steady. with sales of 1920 bales, as
follows December &C, January l9c, Feb
ruary 3Uc, March 40c, April 48c, May 55c
June &c, July &C.
New York, Dec 1.-The Suns cotton re-
view says; The DRIFT OF prices was still
downward, owing to the large movement of
cotton to the ports and the interior towns IS
ern markets. The bears increased their
special interests, and there was considerable
long liquidation by many operators, who have
become discouraged by the heavy receipts.
The receipts at the ports were about $500
bales larger than on the same day last year
and the total for the week estimated at 275 900
to $4,000 bales against 2O7 900 for this week
last year. Prices advanced slightly, declined
points and then regained most of
this, and closed firm. Sales of
22U 100 bales, Liverpool declined 2H to points
-, IN Ffn
changed prices. In Manchester yarns were
in buyers favor and cloths we're fiat New
Orleans declined to 10 points Spot cotton
here was quiet and unchanged Sales 100
bales for spinning and deliveries on con
tracts for $500 bales There was decline of
1-i6 to sc at nine of the southern markets
New Orleans sold 1000 bales. The receipts
at the ports we're 6!,897 against 66l46 this
day last week and ~ 499 last year. The total
thus far this week is l07 AL bales, against
ia, l4S thus far last week. The exports from
the ports 31,453 to Great Britain 5,702 to
France and 1881 to the continent"
New York, Dec. 11.-Riordan & Co say of
cotton; Bulls and bears alike seemed a little
dazed at the opening this morning. Liver
pool gave no decided indications and traders
hardly knew what to bid. The first prices
were about one point higher than Saturday $
closing, March selling at 776c. And for
little while the market wore heSitating as
pect. But the receipts again came pouring in
moro than 2O.uOJ bales in excess Of this day
l't9t CLL anu tIAIo NulChly SClllGu lHC uOuDL
in favor Of the bears. y fresh de-
cline began and was not checked until
March had sold at 7.67c Then short
covering and some investment buying
steadied the market and rally followed. in
which March reacted to 7.75c. But there
seemed to be plenty Of sellers at the advance
and MarcA again declined to 1.1lc. The feeling
tina it was safer not to be short gained
strength in the last hour and led to renewed
buying. The close was firm. with 774c bid
for March. There is still great doubt how
the market is likely to 90. II receipts should
be lighter we VIII advance in hurry, but if
they should continue in anything like the "a
ito shown to-day, we do not see what Is to
prevent further and perhaps very consdera-
ole decline
New York Dec. 1l-Atwood Violet & Co
say Of cotton to-day: The estim tie OF a firm
whose figures are given more attention than
any other in the cotton trade, in pIomulgat-
ing estimates, in October last, of 700 &C
bales minimum, have realized as much of the
effect of crop OF that size as though it had
actually been marketed. and in saving what
we are now about to give expression to, our
views are put forth to show how largely acct
dental have been the high crop estimates so
far. There was nothing sixty DAYS ago to an
ticipate crop of 200 900 bales, Mr. NeiIl S
minimum estimate. But on the contrary.
there was at that time, and since, but one
character OF report from the south, with few
exceptions, namely, a condition of things in
dicat1ng crop Of ,250 009 bales and, perhaps.
less Our figures have been 100000 bales
the large movement, which, on Friday next,
will be APO 900 bales in excess OF last year,
kept the American and foreign spinners out of
the market. There is no question but what
the estimate above refer red to, with the fol-
lowing, who have been Jointly interested in
such estimates, have largely added 10 the
bearlsh influence, especially of the past thirty
days. Now, what was the estimate of Neill
Bros. last year in Octobery 1t was 7,2OO. 600
bales. These estimates were gradually re-
duced to $3.50 900 bales and the crop turned
out 6,1U0000 bales. This wide variation how
ever in crop estimates in one season seems
to have had no effect upon the foreign spinner
especially, and with the estimate OF ZOO, 900
bales minimum by Neil Bros. there has been
a weakness in Liverpool showing with faith
the foreign market generally accepts the crop
estimates. We have several times recently
referred to the difference between the estimate
made made in private oftice at New Dreams,
based upon meteorological conditions and
estimates based on the best information from
most responsible people throughout the cot
ton belt, which indicates. as we said before a
crop not more than 2, Pot. 00) bales. Whether
however the crop Is 1000 OU0 or 8. 600 coo bales
prices have now reached a point where Fe %
ruary contracts can be bought in this market
on basis OF ABOUT S31 per bale for good mid
dlings cotton. and about $}5 in New Orleans
ruary is that much below this and consider
ing that cotton has a collateral or tankable
value the world over. we see nothing as an
Investment whether IL be bond or stocks.
or property of any kind, that promises more
profitable or safer purchase than cotton at
closing prices here or at New Orleans to-
night or anything approXimatng these fig
ures. The character of business today has
been OF the better class and we close but
SiiwhflV lelDW SATURDAYS plpgfue T1nrr 20