The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-19
THE MORNING NEWS: SUNDAY. AUGUST 10. 1894.

New York. Aug. ls.-The sun SAYS Of cotton
70 day. Cotton de. lined three points, then
rallied slightly and closed duh out stady.
Liverpool declined point and closed quiet
and steady: spot sales 900 bales az I'M
changed prices. New Orleans declined 4
points. Fort receipts 453 bales against ! go
bales Slis day last week and 2131 bales last
year. Galveston received - rales- all new.
New Orleans IN aies Of which 20 bales were
new: Savannah 81 bales including new bales
ana Houston ~ bales, all new, against
5Ol bales this day last week and
3Us bales last year. Spot cotton here
quiet aud unchanged; sales $50 bales for spin
ming. southern markets were quiet and I'M
changed. Today 3 feature he bearish fac
tors were decline in Liverpool. which was
quite unexpected, renewed reports that there
would be a strike at New Bedford on Monday
when me cut IN wages will go into effect. gen
erally favorable crop reports. rumOr that
silver was easier in London and more
or less long selling here. Prices declined
but the decline was slight. because IL
IS believed that the general tendency Of silver
and East Indian exchange is upward; that
there Will be no strike at tall River on Mon
day, ana that general business viii soon re-
ylve. ana that the condition OF the crop Al
Mississippi is unfavOrable owing TO the blight,
rust, worms and shedding he trading was
very lght, but part OF the light early demand
was shown by local shorts
New York, Aug. 1S.-Riordan s. Co. say OF
cotton to-day: The tariff question IL at last
out OF the way, and the advance in cotton
that was expected TO follow has come and we
best, barely twenty points ON the 10 vest,
and two thirds OF the Improvement has al.
ready disappeared The splendid crop ac-
counts nave outweighed every influence that
might encourage the hope of higher
prices he telegTaphic reports in
the Financial Chronicle to-day make
magnificent showing The opinion Of those
VINO are usually best informed as to crop
condluons now point to a probable yield of
at least 10000 bales. such prospective
supply would certainly exceed any possible
demand for consumption. and would swell
the surplus to unmanagedble proportions
against this threatened glut Of cotton, on
which the bears base their expecta-
lions OF further decline, the bulls
point TO the more hopeful outlook
in Manchester, to the sudden advance in
the stock market, which many consids r tae
barometer OF the general business situation,
and TO the complaints Of rust and shedding
from parts OF Alabama and Mississippi
which had sufficient influence today to che k
the decline resulting from the sappointing
Liverpool advices. January opened this
morning points lower at Ole, declined to
$500, but rallied on the covering Of some
frightened shorts to 6.93c, at which price
1t closed, with the tone dull but
steady. The existence Of a considerable
short interest, which is rendered very ner-
Vous by the abnormallv low prices, seems to
US the chief reason Just now to hope for sharp
rallies, but the crop is now so we'll advanced
that we think sales upon such rallies more
than likely to be profitable in the end"
Naval stores.
Spirits Turpentine-The market was quiet
and the situation unchanged. There were
small sales mace. At the Board of Trade the
market was bulletined 2I15c paid for regulars.
IoSlu-Ihere was very little doing in the
market and the posted sales were small The
tone OF the market was firm, and the follow
unchanged quotations were posted at the
Board of Trade.