The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-11

The weekly statement on the associated
banks issued bv The clearing house to-day.
shows the following changes:
Reserve decreased ...,...... e. sos GO
Loans increased Observation-Disclosures. 9 $4,000
Specie decreased Observation-Disclosures. 6l5 100
1 LEGAL tenders decreased ...-......... 9 00 200
! Deposits deCrcas 70 ass COO
Circulation increased. ................ 5000
| The banks now hold az a2a 900 in excess Of
| the requirements Of the % per cent. rule.
/ Atlanta, Ca, June lO-The clearings OF
the associated banks for the week were
! q 0i6008
Cotton.
Liverpool, June 10, noon.-Cotton opened
! In fair demand and prices STEADY:
American middltng uplands fNd: sales 10000
| bales-American s 700 bales speculation and
| export 1000 bales; receipts 1000 bales
American $500 bales Futures opened steady
demand fair.
Futures-American middling, low middling
! clause June and July delivery 10-64d July
| and August delivery 4 2l-Gla August and
September delivery 4 23-G4d, also 2L6fd;
september and October delivery 24-64d,
October ana November delivery 4 25-6id, also
| 26-6ld; November and December delivery
2l6id, December and January delivery
| 29-0td, January and February delivery
4 30-6id, also 3l-6id.
American middling 4Md.
] p. MIXTURES middiing, low
middling clause, June delivery 2l-64d. buy
ers; June and July delivery 2l-64d. buyers;
| July and August delivery4 22-64d6l4 23-64d; Au-
gust and September delivery 2t-8td BUYERS;
september and October delivery 15-6tdG14 26-
| Cad; October and November delivery 27-64d,
| sellers November and December delivery
| 286iDi 29-6id; December and January de-
| livery 3O-64d. sellers; January and February
i delivery 43l-6494 32-64d. Futures closed steady
| at an advance.
New York June 1O.--The Suns cotton re-
view says Liverpool was higher, and this
| caused some advance early, which was in
creased when the government report was re-
ceived stating that the increase in the acreage
| this season is only one half of per cent New
. | YORK, southern and E,upODpan bVinp
the market firm appearance for a short
| time, but realizing sales soon caused a re-
action and closing figures were little below
the last prices of yesterday. Many con
sldered the government report altogether
too bullish. The belief is quite
general that the addition to the
acreage this year is larger by or per cent.
than as stated by the department of agri-
| culture to-day. Much is believed to depend
upon the developments in the cotton trade of
| England as to the course of the market in the
immediate future. Prices ended barely
steady, with sales of 107sOO bales Liverpool
advanced AZ to 5 points and closed steady,
| with sales of 10000 bales on spot. New
Orleans was weak and irregular. Spot
prices here were &c higher with
sales of 3Ol bales of spinning. Southern spot
| markets were quiet but generally steady.
| There was an advance of l-l6c at two of the
| southern markets. New Orleans sold LOO
| bales. The receipts from the ports were 2.270
| bales against 3OS7 this day last week and 3 800
| last year. The exports were 1850 to Great
| Britain"
New York, June 10.-Riordan Co say of
| cotton; The cotton market, after week of
nervous fluctuations, closes to-day barely
| steady and about 10 points below the highest
price reached since the present reaction
| began. To-day's trading was particularly
feverish, owing to conflicting predictions as
| to the character of the report of the agricult-
ural bureau and the widely divergent views
| of the report after its figures had been an
nOunced. The bureau estimates the in
crease in cotton acreage at only one
I half of | cent and Tnalyps @
| condition of the crop at the end of May So 60
against $500 at the same time last year The
course OF the market, after as well as before
| these were announced, showed how little con
| hdence traders here placed in official esti-
mates concerning cotton. The private fore
| casts of the bureau report cabled to Liverpool
caused a sharp rise there this morning but
| this was only feebly reflected in the advance
] at our opening, and even the small advance
that took place did not hold. August opened
at 7S5c, but fell rapidly to TIC.
fiuetuating between that price and 1880 until
| the bureau report was read, The report when
1t came, fairly staggered the shrewdest
traders. Most of them consider the acreage
estimate as simply ridiculous. The first
| effect was depressing. Then there was q
quick rally, which lasted but moment. The
| market huctuated in the last forty-five min
utes, sometimes with incredible rapid
ity, between 7.Tc and 1866 for
| August But at the close there was con-
siderable pressure to sell, and the final price
for August was Use bid. Nobody knows
| whether or not John Bull will attach more
| weight to the acreage estimate than we do.
| The answer to that question will largely de-
pend upon the course of the market on Mon
| day But the bureau report at best. will
| have but tranSitory influence. The main
| point for traders to consider just now is
| whether the Improvement which has mani
tested Itself in the European cotton trade in
the last fortnight is going to continue If so,
prices will probably go higher. This, and the
| crop weather of July and August will settle
| the question whether cotton will sell next fall
| at &c or above &c. Under existing conditions,
sales upon every good rally, and purchases
upon slumps seem to us to offer the best
| chance for profit"
New York, June 10, noon.-Cotton futures
| closed barely steady, as follows June deliv
cry SIC; July delivery 7 66c, August deliv
cry 7Sc, September delivery SC. Octo
Der delivery 92c November delivery SOC
New York June 10. noOn.-Cotton con
tracts opened steady at points advance; fell
| 5106 points, rallied again and closed barely
steady at point advance to points de-
| cline.
New York, June 10, p. m-MiddIing up
| lands Is lee middlng Orleans slice; sales
SOL bales Cotton steady.
Futures closed barely steady, with sales of
l07 800 bales, as follows: June delivery 7 57@
7 soc, July delivery 66ll7 &c, August delivery
1907 100, September delivery s6A7 SIC,
October delivery 7 026l7 93c, November de-
livery 1904 00c, December delivery 06c,
January delivery 1908 l3c, February de-
livery 1908 pic.
Total consolidated net receipts at all the
| ports to-day and SO Tar this week were . 20
| DaleS; exports 10 Great Britain 2,0D0 bales;
stock 435,872 bales. The stock in yesterdays
New York cotton report should have been
| 1862 bales.
Galveston, June 10-Cotton closed steady;
| middling rae; net receipts none, gross none;
| sales I55 bales; stock J0,5SS bales.
| Norfolk, June 10.-Cott0n closed steady;
middling 7i5c; net receipts bales, gross
| l27 bales; sales 20i bales; stock II 1874 bales.
Baltimore, June l0.--Cotton closed steady;
| middling 7bc; net receipts none gross 200:
sales none; stock 1913 bales.
Boston, June l0.-Cotton closed dull; mid
ding 1850; net receipts q bales, gross 377;
| SalesnOne; stock none
Wilmington, June l0-Cotton closed firmer;
middling re; net receipts 30 bales, gross
none; sales none; stock 1862 bales.
| Philadelphia, June l0.-Cotton closed quiet;
middling sac: net receipts 3d. gross none:
sales none: stock 1910 bales
New Orleans, June 10-Cotton closed
firm; middling7 lt-1Gc; net receipts 1901 bales,
gross none; sales LOO bales: stock lis, 100
bales, TO the continent 1850 bales; to Great
| Britain 2 0g5.
New Orleans. June 10.-Cotton futures quiet
but steady. with sales of $500 bales, as
follows July delivery 64c, August delivery
7 Gle September delivery 62c. October de-
livery 0Gc, November delivery re, Decem-
Der delivery nc.
Mobile, June 10.-Cotton closed nominal:
mlddling TIC; net receipts bales, gross
none; sales none; stock 1878 bales; exports
coaStwise none; to the continent bales.
Memphis, June lO.-Cotton closed steady;
a u sn..w