The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-15
PROSPECTS.

PROSPECTS.
From the present outlook the prospects of
the coming crop are about on an average with
those of last season.
There has been an additional area planted
over last year but it is likely that the drought
IN Texas has worked much injury to the crop.
There are some sections where dry weather
had adversely affected cotton. In this sec
ton the crop has been forward and the re
ceipts at this port so far are greatly in excess
of those at any of the Atlantic ports and being
over 3, 900 bales more than were received at
Savannah up TO the same time in 1892. In
some sections near the coast the crop is
greatly damaged by recent rains and rust, be
sides 1t Is not maturing as rapidly as usual.
In the sections where cotton has been gath
cred the planters are not marketing as freely
as they would if prices we're more satisfac-
tory. The present impression is that the bulk
of the crop will be late, The unsatisfactory
financial conditions which, until recently.
prevailed, had considerable effect in retard-
ing the movement Of the crop. However. Sa-
vannah has not suffered from this cause as
much as other markets. The fOrethOught
and excellent management of the merchants
and banks of this city during the financial
crisis enabled them to be prepared to meet
all demands for money for the purpose of
moving the crop. In this respect Savannah
stands permanent in being In position to
further the interests Of her leading indus
tries.
SEA IsLAND.-Estimate from the most re
reliable sources, make the coming sea island
cotton crop about the same as that of last year.
There has been greater acreage planted in
some places but the effects of the late storm
and excessive rains have destroyed a great
portion of the crop. This will about balance
the increased supply which was expected
from other sections.
The Georgia crop. as estimated now, will be
about the same as last year. The following
condition in several of the counties will
explain the facts upon which this Judgment
is based: Mitchell county, which raised sea
islands for the first time last year, yielded
from 6hl ia 1fl) bagE This the is
greater and there will probably be an increase
OF the product to 1000 to $500 bags. Bryan
county marketed about 400 bags of sea island
cotton last year which will probably be in
creased to 800 or 900 this year, provided that
the weather is favorable and there is no seri-
Gus drawback. In Lowndes county there is
considerable complaint Of boil worms. cater
pillars and rust which will cut the crop off in
that section, and 1t will not be as good as was
expected some time ago. Bullock and TAFT
nall counties have suffered to a considerable
extent from the recent hurricane and the
crop will be somewhat smaller than that of
last year. In other counties in
Georgia the crops have suffered more
or less, in some places, from boil worms
caterptllaTs and rust. All these fCcts cOnsid-
cred 1t is more than likely that the Georgia
crop will not exceed that of last year.
From Florida and East Florida come grave
complaints. Although there was from 10 per
cent to 10 per cent more cotton planted in
this section this season, the yield is not ex-
pected to be more than from per cent TO ~
per cent. above the amount produced last
year. In Florida the growing crop was for
ward, being planted early. The excessive
rains which visited that section during the
early part OF the season, while the plant was
young, caused the rust to get in its work and
kill a large proportion OF the young crop. The
recent hurricanes also had the effect Of dam
aging the crop in that section, but the rains
had already caused great loss.
South Carolina has suffered more than any
other section. The devastation caused by
the terrific cyclone has destroyed the larger
rFNtNfNp fifNvN ~ ,4.l
the crop which was expected from the sea
islands will be between 4C00 and 5000 bags
short this season.
Taking into consideration the losses in Caro-
lima, from the storm, the considerable dam
age done by rust in Florida, and the rains
and worms In some parts of Georgia, the crop
which otherwise would have been increased
by the additional percentage planted. will
show yield considerably below what was
expected.
There is one fact which will doubtless
have an effect upon the market as soon as the
season is fairly opened; that is, the receipts
will be slow to arrive on account of the ruin
Gus drawbacks to which the crop has been
subjected during the past two months. An
other fact, fully realized is that the country
is absolutely bare of any of last years CROP
and that which is in sight is remarkably
light.
Financial.
All classes of securities have steadily de-
creased in market value during the year now
drawing to a close. To the gradual harden
ing of money caused by many reasons too
well known to now repOat can he ASSIGNED
the depreciation in values. All securities
have suffered their fun share, but especially
is it the case with railroad and industrial Sc
curlties. The revenues derived by railroads
have fallen of particularly owing to the fact
that the tonnage has been less than last year
Industrials have declined owing to the fact
that the demand for goods have decreased
caused by the hard times, consumers buying
only as actually needing supplies. The rail
road commission, after thorough eXamina-
ton, has decided to increase rates on certain
classes, which viii materially help the roads
to swell their incomes, and with conservative
national legislation on the silver question
and taking of the tax on state
bank circulation, 1t is confidently expected the
present unprecedented stringency in money
will disappear, and an era Of prosperity grad
ually take its place. The crops about to
move will bring plenty Of money and all
classes Of trades and business resume its
Wonted way.
The early completion of the Florida and
Northern railway from this city to Harris
road will be Of great beneht to this section
OF the country, and will bring an increased
trade to our port. il being o connecting
through line to the north and south
The Clearing House.
The success Of the clearing house system
has been demonstrated since its organiza-
tion In this city. The weekly statements of
the associated banks are Of great interest to
commercial men and convenience and bene-
mt to the business community.
The following table hy months shows a
statement compared with that of last year.
Of the clearings OF the associated banks.
While the figures do not represent the actual
business OF the port, they approximate fairly
a good percentage;
1929 1912
Sept................SS ,2i2 439 05 & O66. 43S 3
Oct ................ IL. 456672 81 Is PSI .7S2 SO
Nov. ........... 1921 GIG 81 u 53l. 327 70
Dec................. 10.O6g sos 80 0S4S. 681 IS
Jan................. 7,033,3lS A S129,31S n
Feb................. 1924 965 II 69S3. 649 SO