The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-01-26
THE sHoRrAan m 90 rroN.
A Heavy Falling off in Receipts at Al
the Porte.

A Heavy Falling off in Receipts at All
the Porte.
The cotton receipts at the ports for the
past three days show a heavy falling of
compared with the receipts last year for
the same time. The receipts for the first
three days we're only SO, $50 bales. Last
week for the first three days they were
OF, lZ2 bales. The first half of the oorre-
| spending week in 1892 they were n, SSl
bales, showing shortage of 81, 295 bales.
The receipts are 80 far 81, 536 bales less than
last week. The total receipts for the season
up to to-day at all the ports are 1874, $50
bales, against 5. 242, S47 bales last season for
the same period.
The sudden drop Off In the receipts at this
and the other ports is significant ~ very
short crop and goes TO confirm Neill Bros
latest estimate of 6, 250, 900 bales as the total
OF the crop for 1929. This estimate in
Guides 10000 bales OF last years crop.
win SO small a crop, in the light OF the enor~
nous crops of recent years, there seems to
De no plausible reason why middling should
not be selling at 10 cents in this
| market. The statistical position and
trade conditions fully Justify this
basis OF valuation over the low prices now
ruling.
Mr.. Ellison figures out an increased con-
sumption in Europe of 1890 bales in his
estimates and adds TO this 100, 900 bales for
increased consumption in the United States
and Canada. He also estimates the total
| amount OF American cotton required by
spinners for this season will reach S,41S,00
bales. Assuming that Neil Bros estimate
OF the crop Is right there will certainly be a
shortage OF ., los, 600 bales in the American
production OF cotton for the actual require
menus OF the world, which will leave at the
END or this season not bale of American
COTTON In stock either in Europe or America
bow spinners can reconcile their present
attitude toward the market is one of the
mysteries which can only be explained by
the average European spinner. There is
one tnlnR evident; the American spinner
does not appear to be half as blind to the
situation. While not as much cotton is
taken as last year, the demand is steady, as
the overland movement shows, and is in
proportion heavier than that of Europe.
Inc reason last season for such an enormous
overland movement was the cheapness of
cotton. This policy has been continued
| This season TO some extent, and as much cots
! ton as can consistently be carried has been
received. In this the American spinners
have displayed great deal more
| foresight than their English and
continental brethren, as all things now in
dioate that the latter will have 70 pay
pretty roundly for the staple, and that be-
fore the spring sets in. There is every rea
son to believe that the upward turn in
prices is very near.
| There seems to be now no apprehension
OF the passage OF the Hatch anti-option bill,
whlcn throughout this season has been
haunted in the face Of the average bull, and
mas latterly bean the bears' principal lever
Tor manipulating the market With the
failure OF this bill Co pass there is really no
other bar to an advance In values, as the
very heavy decrease in this weeks receipts
and the smailness Of the supplies moving to
InEHFIOr tnWVnR inE ~ v,1k. -
vance in the price and the lessening of the
present estimates as TO the actual crop.
N lille IL is not overdrawing 1t to hazard the
opinion that should the receipts from now
on continue to scale down as they have in
the past three days, q crop of less than
D ,OOO ,OOO bales for this season will be con-
sentative estimate. There Is one thing sure
there will be no increase In receipts from
now on, as there has been no TOD crop gath
cred 60 speak of owing TO the appearance of
frost last October and November This is
certainly the case In this section and is one
OF the greatest causes of Savannah's losses in
receipts, which thus far have been fully
lol,oOO bales below those Of last
year. Had this port been alone in this par
| ticular 1t would of course be an exceptional
case and confined TO a small section but it
| has been general and the losses have been
| equally as great at all the Atlantic ports
and nearly so at all the gulf ports.
All things considered it is very evident
that at the present time cotton is cheap. 10
is an opportune time for the planter to hold
| his cotton. An analysis OF the situation
| would certainly warrant such q course At
| least this is the opinion held by some fac
tors. In view of the very small receipts
there was very firm feeling pervadins the
market and some operators have been more
active in their quest for cotton during the
last two days. while the sales In this market
have been larger proportionately than for
! some weeks.