The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-09
COTTON.

The past week was an exception to the
long drawn out rule Of low prices. and
dull tone in cotton. The market be-
came animated, with a large business
ana sharp advance in futures. The
Journal of Commerce tells the tale of the
sudden excitement last Wednesday when
the advance began: 1T came as a great
surprise after the apparently tame and I'M
promising. conditions prevailing yesterday
ana Tor the time being has placed the bear
ISM element on the defensive, with their
opponents correspondingly hopeful and
gubllant over the idea that at last the
ionG-looked for turn has come and cotton
!sNe9 10 be its due. 1t IS, however, no.
tlceape that no evidence could be OBJ
famed OF any pronounced investing moves
ineht the new buying being mainly con-
Hheq 10 the scalping element which,
catching the drift of the market, made
small ventures for quick turn and sold
out again as the small profit expected ac-
'Iueu, ana the main demand was of a
VoEerlng character General testimony at
ilnuted the alarm among the shorts to
me marked strength shown in tenor of
edple advices, which revealed pretty
s9od spot business and an upward turn
~ futures, a result thought to have been
reached through the growing belief
abroad in the backWardness and short
IIdntlng of the next seeding, and in one
OF TWO cases it is claimed that foreign
operators are entertaining more hopeful
views OF trade with the east Another
tssseStlon was also made TO the effect
mat the heavy New Orleans long inter-
est was working both this market and
liverpool TO make selling plane and
s54eIe were movements to sustain the
uea that the southern bull element has
ot been idle in contributing the stimu-
as Whatever the cause, however, the
tnorts. have shown more general fright
-Hdn Tor considerable time past and
rushed the value line up loop points with
.1HeWlng sales to any extent at the ad-
vance, although at the close price had
..soeqed 3a4 points from the highest and
IKE pears plucked up courage enough to
rlssest that stimulating factors had cul-
m.hdted. SO far as the current crop move
lent is concerned the showing continued
, ,.L, out the bulls assumed that this was
Wlnportant upon theory that il had been
cted and was discounted.
me local spot market was not slow to
.i IN line with the advancement Of fu-
,L[es On Wednesday the. price advanced
90 followed by q similar rise on Thurs
asy. It remained firm at the close to-
liall, with good demand for the very
ASht offerings.
ne following were the official spot quo
,1uons at the close of the market at the
,GolQn exchange to-day:
sfi5 MluQllng ..--......................51s
g1 ............-. . 3-l6
CO.. -GGluulnB ACKNOWLEDGEMENTS.
Goo1 Ordinary ........................... 9-16
W.. .tJsrket firm; sales to-day IA; for the
~ ES,eceipts-The receipts Of cotton at this
vlYl rom all sources for the last week
isIe lz,V5 bales upland and 314 bales sea
haIegs' against 3; 38l bales upland and PAP
.r sea island last year.
a " particulars Of the receipts have been
6sl tolloWs: Per Central railroad 1851
W. upland; per Savannah Florida and
Al, lleTn railway, 2,079 bales upla=1 =--d
O@les sea island; per Charleston and