The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-06

Michigan Central s7h do do pref As
STATE BONDS.
Alabama A....... 90 Tenn, new set. Is. 1902
do B.............lO3 Tenn. new set. 5s. 1Ol
do C..-......--. % Tenn. new set IS. 7sH
La stamped As. 100 Virginia 6s pref. so
NorthCarolina4 % Va. Trust Reefs IS
NorthCaroliaa3 IS i2l1l Va. Fund'g Debt. 6014
Tennessee, olds.. 60
GOVERNMENT BONDS
UnitedStates As. registered. ........II3H
UnttedSt1teS As. coupons. ........... 1132
United States %, registered. ............9 90
#Asked ibid
New York. May 5.-The sales of listed
stocks to-day aggregated 1886 shares. and
OF unlisted 66,9l1 shares.
New York, May 5.-Treasury balances
to-day were as follows: Coin, S99,S6S,0O0; cur.
New York NAV 5.-The- weekly state.
ment of the associated banks, issued by the
clearing house to-day, shows the following
changes:
Reserve decreased. ACKNOWLEDGEMENT COS, 800
Loans increased. 4,529. 800
Specie increased. Observation-Disclosures. GA. 800
Legal tenders decreased. ............ 1880
Deposits increased. ................. 4S40. 600
The banks now hold $50 sos 1850 above the re-
qutrements of the % per cent rule.
Atlanta, Ca, May 5.-The clearings of
the associated banks for the week were
London, May 5-The bar silver market
to-day has been steady, and was quoted at
~uO pei ounOo'
Cotton.
Liverpool, Mays, noon-Cotton-Quiet; free
supply Offering: prices unchanged; Ameri-
can middling, l5-l6d; sales 900 bales; Amer
lean 6,4OO bales; speculation and export, 800
bales; receipts 5000 bales; American. $500
bales. Futures opened steady; demand freely
supplied. ..-----.------ .------------.-,~-.-
Futures-American middling fair, low mid
3 52-64d, also 5l-64d; June and July, 53-64d,
also 52-64d; July and August, 54-ad, also
3 53-64d August and September, 56-64d, also
3 55-64d; september and October, 3 56e4d,
| also 57-64d; October and November 5764d,
also 3 56-C4d November and December,
5s-64d also 57-64d; December and January,
clearings none.
p. m.-Cotton, American middling fair
Ard; good middling, ll6d; middling, 15-16d;
low middiing, SlS-l6d; good ordinary,
Futures-American middling fair, low mid
ding clause: May. "a 6IGg3 5o-64d May and
| 3 556l@.3 5G.e4d; July and August 56-6i0
| 3 576 Cad; August and September, 57-6i(1
586ld; September and October, 8 5s-640
! 5964d; October and November, 5J-G4l1
| 3 60 Gid; November and December, 60-64Ga
3 Gl64d; December and January, Gl-640
| G2C4d. Futures closed firm.
New YORK, May 5, noon.-Cotton futures
opened steady, as follows: May, 8 soc; June.
z Uc; July, O7c; August z lie; Septemn Der,
| 7 i3c; October, nc.
New York, MAY ;, p m.-Spot cotton
| closed steady; middling gulf 71ac middling
| uplands re; sales PA Dales.
Futures closed steady, with sales of
! II 900 bales, as follows: May, 92c; June,
| 99c; July, 0}c; August, CSC; September,
| Z 10c; October, l5c; November, lie; De-
cember, z DC; January, 2sc
| New York. May 5.-Total consolidated
net receipts at all the ports to-day were A, 4l6
| bales; exports TO Great Britain 0,93 bales, to
| Frame - bales TO continent 1888 bales;
| stock 528, S7S bales.
Total so far this week: Net receipts 44l6
| bales; exports to Great Britain 1881 bales,
| to France - bales, to the continent 9,SsS
bales.
closed steady, with sales of $4,000 bales,
as follows% May $50, June 6 &C, July 74c,
| August 75c, September 76c, OCTOBER 79c,
| November SAC December SOC, January
| sec.
New York, May 5-The Suns cotton report
| says: mo advance in Liverpool was expected
| to-day and there was not much improvement,
| but there was some, and New York prices &C
| cordingly advanced, but the buying soon sub
| sided and German houses helped to break the
market, so that there was not much net
| change in prices at the close. The
trading was light The majority of OBJ
| orators are not disposed to buy at
all freely and the local sentiment
appears, on the whole, to be bearish. The
| Atlantic states need rain, but as q rule the
| crop news is favorable. One firm said: The
| world spinners are always ready to believe,
| this season of the year in anything indicating
| a large supply out of the coming crop, and,
therefore, increased area in cotton finds
! ready believers. This Is an intiu-
euce that the south has always
to contend against, and whether acreage
estimates prove in the end uniustifed at the
same time the effect is to depress prices for
the immediate failure, On the other hand
the price always has considerable bearing
on the situation and the opinion Of many is
that further decline from present figures
is unluStihed, and any selling of the market
will only be for small profits which the bears
will take whenever they can get them. The
weak long interest has peen pretty we'll liqul
dat ~ odd, flnnr af4v, t.
strongly held, the bears must depress the
market themselves by selling it, IN order to
bring about a lower plane of values; at least.
that is the appearance Of the situation at the
moment. The amount of crop now In sight is
1901 900 bales, against 6.225 900 bales last year
according to the Chronicle), and 7116000
bales according to the New Orleans Ex-
changer from Sept. to date
| New York, May 5.-Rirdau & Co. say of
cotton to-day: The week has been one of
continued liquidation in the cotton market,
resulting in further and extraordinary de
pressions. Prices have declined fully quar-
ter of cent since last saturday. The re-
fJsal of Liverpool to-day to follow our decline
OF YESTERDAY WAS pleasant surprise, and
our opening was at an advance Of or 5
points, August selling at 7l3c. But after the
first fifteen minutes the buying orders seemed
exhausted and the market became dull
| German houses who are re garded as
tho leaders Of the bears took
| advantage OF the dullness to make large
offering at concessions. and the market broke
or points, august selling down to 70c.
The close, however, was steady, at the same
prices as YESTERDAY Z csc being bid for Au-
gust Again the inquiry comes to us from
all parts Of the south: Has the bottom been
reached. We answer that We do not know.
and we do not think anyDCdYs opinion upon
this point, at this time is worth much
| Everything now depends upon the new crop.
| For all present purposes there is certainly too
much cotton. Trade is very bad and will
hardly improve until after the tariff question
has been settled. But we think it reasonable to
assume that the heavy and continuous de-
cline has fully discounted all this. The ques-
tion now is whether the growing crop is going
to be a moderate one or q bigger one than is
required for the consumption Of the world
Predictions as to the ultimete course of
prices must be mere conjecture until this
question can be settled with appro XimaIe
certainty. From all the information we can
gather, we think that there is no doubt that
there has been a very considerable increase
in the cotton acreage, On the other hand.
there certainly has been decrease OF at least
10 per cent. in the use of fertilizers The
Oh ara ,ter of th3 season. after all, must de-
termine the yield. Every cotton grower
knows how uncertain the developments OF the
season usually are, and that the crop is
hardly safe until the end of August. The
weather, in the long run, Will RUE the mar.
ket and nobody here knows any more what
the weather will be than our friends in the
south. We expect nervous fluctuations
around the present low values. Though