The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-11

/ losses so sustained have been taken into
account in making up the estimates Of
/ total business done
The retail trade experienced a more sat
isfactory year than the year before. The
better feeling. which has now become gem
eral. led TO an improved demand from
consumers. There are now no idle work
/ ingmen in the city Work is plentiful and
wages are fair. which increases the pur-
chasing power OF the community.
The manufacturing establishments Of
! the city had a good average year. and in
/ creased the value Of their output TO a
gratifying extent Some new enterprises
have been started since the last annual
review. and they appear to be meeting
with success.
The details Of the years business. which
will give all desired information with re-
gard to any special line are given in the
special articles which follow.
COTTON.
The cotton crop of 1S94-95 was the largest
in the history of the cotton trade. 1t wa4
the result Of the enormous acreage, and
unprecedented crop conditions during the
entire season.
The heavy receipts of this crop, as they
manifested themselves in the fall. coming
as they did at a time when the country
had not as yet recovered from the depress-
ed financial conditions of 1893, caused a
rapid decline In prices Prices would have
reached even a lower level, and a rally,
under ordinary conditions, would have
been impossible, had it not been for an I'M
forseen factor arising This was that
spinners, and the mills generally the world
over, were Almost entirely depleted Of their
stocks. During the depression of 1888
many mills had been forced to close. and
those that continued to operate were run
ming on light stocks, carrying as little cot
ton as possible Fortunately for the hold
ers OF cotton the revival of the trade In the
early months of 1895 caused nearly all cot
ton mills that had been closed to reopen,
and at the low price at which cotton was
selling, buyers were willing to take all
that they could carry. and If possible to
lay in years supply.
The inducement to purchase spot cotton
was further increased by the extreme
eheapness of money. which could be easily
obtained at a very low rate of interest.
especially upon cotton at the low price at
which it was then selling. This caused
enormous purchases both for this country
and for Europe, which were shown in the
large exports and In a greater absorption
of cotton than before known. AS this fac
tor developed it was readily perceived that
all of the crops, unprecedented in amount,
though it was would be easily absorbed
at prices far above the then selling price
here, which was SC for middling at the
close of February. rapid advance set
in, and as the price went up spectators
came into the market, and as the first
NH, hos do Il
lowed by others, and thus the price was
carried to about cents a pound, by the
LIST of June.
The prices paid during the early part of
the season. were highest during the move
ment of the bulk of the crop. Commence
ing with 6 5-l6c paid for middiing on Sept.
!, the price steadily declined to &c, where,
with slight fluctuations, IL remained until
nearly all of the crop was marketed
Fortunately for the planters the heavy
crop was absorbed about as fast as it was
brought to market Holders had no diff
Guilty, at any time. during the early part
of the season, in disposing of new
cotton, which, as a rule, loses in weight
The only disappointing feature was the
continued decline in values. The crop was
rushed TO market and the current prices
accepted. There was a specially good de-
X
well in price, compared to the lower
grades; the latter was sold at irregular
prices and at about what the exporters
chose to pay.
The crop for the season of lS94-95, ending
Sept. l, was 100000 bales, an increase
of 100000 bales over the season of
1884; $4,000 bales over 1928,
and 5000 bales over 1Sel-92 the
largest crop ever known previous to one Of
the last season.
Savannahs gross receipts were 946, 2R
against ,4O5 for the season of 1898
81, which shows a decrease of %, 1873
bales the past year. This decrease is ac-
counted for, however, by the fact that,
during the season of 1S93-94 81 .OSs
bales, were received and counted here, and
afterwards shipped to Charleston, where
il was claimed as net receipts. During the
past season, all cotton arriving here, for
Charleston and Port Royal amounting to
1920 bales was not counted as Sa-
vannah receipts. Had they been counted
the receipts at Savannah would have
shown a large increase in favor of the past
| season.
The actual net receipts at Savannah dur
ing the season of 1S94-95 were 944, $40
bales. against 9O2342 for the season of
Aooo-S1s AucuuCAlllB OtsOoo DdleS SnlppeQ
through to Charleston showing a net in
crease of 42,06S bales in favor OF lS94-95.
Savannah still held her own as the third
| largest cotton market in the country and
her net receipts far exceeded those OF
any other Atlantic pert.
The situation of the Savannah market,
during the season of lSs4-95 is given in the
/ following summary, by months, from the
/ opening of the season on Sept. l, 1894, to the
/ ending of it on Aug. 81, 1895:
| September-The price of middling was
| 6 5-16c on the first day of the month. There
was a good demand for smooth, well
/ ginned cotton. Grades below middline
were in demand at irregular prices. and
that which was damp and gin cut was
sold at buyers prices. as there were but
one or two who would bid on them Dur
! ing the first week the percentage of the
! receipts was larger than usual for the
time of the year. There was a good de-
mand and prices advanced lice The bu-
| reau report, issued on the 10th, was a dis
| appointment and great surprise showing
a percentage of $500, against 1904 for the
| previous year. This, with the re-
ports of increased acreage, bore
| out the views of those who