The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-11


tributed. There was dul Liverpool mar
ket and the Ha.el bill hovered over
the trade, Hester's increased estimate OF the
Texas crop and the uncertainty about silver
caused tearIsh lesling. Tie dizziness con
thu ID during the en- ire month and the bust
ness was OF the most depres ng character.
Prices reached ass Of &c for mlddling. 1t
was evident that there was too much cotton
and too little trade. TIE severe decline was
attributed to the approach OF tender day when
those parties holding OF to their March con
tracts would become fearful that the actual
cotton would be rendered them. and when one
or two Of these laI &c holders placed their con
tracts uFon the market all the smaller inter
-ests followed in quick order. During the two
last days Of the month there sprang up bet
ter feeling in the market on account Of favor
able news from abroad, a reaction having set
In and prices showing a gain. These condi-
tons influenced the local market, and the
month closed with middling cotton being
quoted at Lice. The receipts for the month
we're AZ, 729 bales.
In March during the first week the market
gained &c in Ir.ces, but succeeded in doing
TINS only In the most nervous manner. The
cont o.ling markets had been as low as they
were at any time during the season, but with
the appearance Of the spinners abroad buying
more heavily than before, and the receipts
showing some diminution. better feeling set
IN, and re action Of about 4 from the low
est prices ensued. The market. however
continued unsettled, and although oflcial
quotations fuctuated and closed at 1880 for
middling on the 10TH sales could not be made
above TIC. The complexion Of the Liverpool
market 81 stained a change about this time
where large sales seemed TO indicate a re-
neWed confidence among spinners. The local
buyers continued 10 bid lower than the Off
cial quotation S. and as concessions we're
freely made the offering stock dwindled down
TO small lots OF discolored and undesirable
cotton. Factors then found it dificult to in
duce exporters to make bids anywhere near
ofhcial quotations. The market continued
very irregular in the character of the demand
up TO the close OF the month. For a
few days after the eastern holidays
the American markets were left to their own
resources, as the Liverpool market continued
closed The spot demand in the interior and
at the ports continued very dull and holders
OF cotton were disappointed at not being able
to make sales atrelative rates with futures.
The month closed with middling cotton
quoted at 3l6c. The receipts for the month
were Sc, 629 bales.
April opened with cheerful news from
abroad, Liverpool having bought largely at
an advance, and New York following with re-
newed strength. The spot demand in this
market, however was disappointment, con
sidering the sharp advance in futures at the
controlling markets; but it was confidently
expected that this strong feeling would be re-
hected upon spots and that an active demand
would soon set in. The quotations we're con
sequently advanced to nc for middling The
NTH
undertone. The second week lost all the
encouragement gained at the early part of
the month. The influences brought to bear
upon the market were the weakness at Liv-
erpool, the holding of of domestic spinners.
the fear Of the Hatch bill being passed, and
the unexpected large receipts There was
decline OF 1-l6c In the price, but this did not
help the situation in the least. The market
continued more or lie dull throughout the
balance OF the month, caused by continued
heavy receipts at the ports and interior
towns. the dizziness in the cotton goods mar
kets and the growing feeling that there was
enough old cotton to supply the spinners to
Sept. l. The month closed with an easy tone
in the market, and very little business doing
Middling was quoted at Lice. The receipts
for the month were 2705l bales.
May began with liberal receipts at the
ports, favorable weather throughout the cot
ton belt and dullness of trade in cotton and
cotton goods. These adverse features were
Offset by an unexpected trmness of futures IN
Liverpool and a stronger tone at New Or
leans, where futures advanced, and where
there was better spot demand from the con
tlnent. The local markets did not feel the
effects of the encouraging features in the con
trolling markets, and the month opened with
decline to &c for middling. This was fol.
lowed by further decline, and by the 4th it
was quoted at &C. This decline stimulated
trading for few days. but it did not last, the
previous eas1ness again prevailed. This
state OF affairs existed in the market during
the second and third weeks, and it was infu-
enced slightly by the erratic course of the
controlling markets The demand continued
slow, though, all things considered in the ag-
| gregate, there was a fair business done. The
| general crop movement at this time had sim
mered down to small er proportions, while crop
reports were growing in character, and aside
from some complaints about dry weather
everything went TO show healthy growth
The business furnished by the spinners also
amounted 10 a mere jobbing deal and threat
ened TO become less. About this time the
most OF the local buyers abandoned the mar
ket for the season, leaving the trade in a dull
SAAN iASAAAAA~A SOhNlt4Oll' nC h6L uSCllnBQ
| TO 1850 for middling by the middle of the
month, and remained dull and inactive until
the last day, when a better feeling was
caused by reports of serious damage being
done TO the growing crop by the unusually
cold wave that passed over the south during
the last week Of the month. The price
! quickly advanced to 6 l5-l6c for middling, at
which price the market was steady al the
! close OF the month. The receipts for the
month were 16 6s6 GALES.
At the opening of June the confirmation
OF the reports Of great damage being done to
! the new crop by the cold weather, caused a
! hrmness in the controlling markets, and
added TO the lo3al situation. Cotton was
/ sold on basis of &c for middling. During
the first week there was a heavy spot demand
in Liverpool and a hardening in futures The
cause of improvement was attributed to
the facts that l. verpool had received fuller
/ particu ais OF the increased crop movement
and had discovered that a large proportion
OF cotton had passed into the hands of the con.
sumers, and did not, in consequence, add to
the visible supply; bCs des, adyices had been
/ received in England that an improvement
had taken place in the China and India mar
kets, the influence Of which seemed 10 stimu.
late anew the demand from Manchester
splnners. Under the foregoing influences, the
/ local market was ad van. ed RI zLkC for MIA