The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-22

overbought and topheavy. were WELL
founded The ONer-sanguine holders have
paid terrible penalty for their delay in
realizing, but the facts Of the situation
remain the same and whenever the liqui-
dalton shall be complete. we expect a
sharp recovery. The market may vet go
considerably lower, but we believe that
those who resOlUtely protect their ven
lures Will, IN the near future have reason
TO be gratified that they have done so"
Now lork, Oct. 2l-Ihe sun 5 review of
cotton says: Cotton fell IS to 81 points
from the closing prices of Saturday, the
greatest depression being in January. La
ter on there was rally of II points. after
which prices again took a dOwnwsfrd
course, and closed irregular and easy at
a net decline OF 50 10 50 points, with sales
of $1,000 bales the largest by far that
nave been recorded in a single day at the
New York Cotton exchange Liverpool de-
cllned II points for future delivery. re-
covered three points of this. then weak
ened again and closed unsettled at a net
decline for the day of Y points, equal in
our money to nearly forty points. The spot
sales there were $500 bales. with spot
prices sled lower. New Orleans declined
43 to A points. January falling to soc, and
March to SlOC, later January rallied 10
sac, and then fell back to S.12c; March
rallied TO S.2Sc, then dropped again to Sl3c,
then moved up to S.l9c and then receded
to S.l5c. Spot cotton here declined i2c, with
sales OF no for spinning, and 5000 deliver
ed on contract. Memphis sold 400 bales and
Augusta Az. In Manchester yarns were
easier cloths not much doing New Or
leans receipts tomorrow are estimated
at 5000 to 90,009 The port receipts were
G4,07S against s., 1853 last Monday, and So,
So last year: thus far this week, los, 1884,
against les 944 thus far last week. Liver
pool and New Orleans dispatches declared
that both bulls and bears would come to
the support of the market at a recession
from opening figures. one firm in New Or
leans was reported to have suspended.
''TO-day's features; No such business
as that recorded at the cotton exchange
to-day was ever before seen in the history
of the exchange, and fluctuations in prices
were CorreSpOndingly wide. Heavy liquid
alton for New York, Wall street, New
Orleans, the south generally, Liverpool
and the continent caused another decided
decline in prices. and but for the support
given to the market by prominent IN
terests the decline might have been even
more severe than 1t was. or course the
decided fall in Liverpool had much to 40
with the depression to-day, and although
there were reports that leading New Or
leans firms would maintain prices after
moderate recession, they have little il
any effect. The market was IN the rap
ids and it shot downward with velocity
that nothing could stop Stop orders were
received in large volumes, pyramids tum-
bled into the stream OF liquidation, and
the fall of prices amounted at one time
to 81 points, making ia points from
the highest figures attained in the bull
campaign. Then some prominent houses
entered the market and purchased free
~, causing a rally of about IA points,
but renewed selling soon carried prices
downward again. and the last figures
were not much above the lowest OF the
day. Some private Liverpool cables ex-
press the opinion that the decline is tenn
porary. Others predict that while the &C.
cline is nearly over, the market will have
dun period from now on. Still others
express the opinion that while recently
the market was duly inflated, it Is now
being unduly depressed, and that an up
ward turn Is only matter of time"