The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-15

Orleans dispatch said: 'Supt. Campbell Of /
the International and Great Northern I
Railroad Company OF Texas, says Texas l
cannot make half Of last years crop
The receipts at the ports, though 900 |
bales larger than on the same day 1893 /
We're ZOO bales smaller than on the same
date last year Considerable stress was 4
laid on the fact thar Houston received
only 800 bales, against Is. a year ago.
Frost was predicted for most parts o.
me eotton Delt, pul warmer weather in
Texas tomorrow afternoon. a good spot
business was done al the south. raislng
prices and the exports were rather large.
bought pretty freely. Besides the outside
buying here was a noteworthy feature.
and the general opinion is that prices are
going higher"
New FORK. Oct 14-Atwood. Violet &
Co. say Of cotton. AS we expected. the
market has improved materially since
Saturday and although the same infiu-
ences in endeavoring to depress prices
were noticeable to-day as on nearly every
day for the past six months, the market
closed at the highest, or Il points better
than Saturday. The strength continues
IN spot cotton, as many leading southern
markets are again LIS to lsc better and
as the movement begins TO show signs
OF falling of compared with last year,
the feeling of hoDefulness among SPOT
holders will become intensified as a drop
in receipts will confirm what all sections
IN the south are entirely aware Of,
namely; shortage of most serious pro-
portions compared not only with last
year, but with an everage crop. It would
seem safest in order to arrive, approx
mately, at the ultimate size of this crop
to take the average of lint production
per acre to the last one, which was eX-
actfy 1894 pounds. According to Secre-
tary Hester of the New Orleans Elk
change, the leading cotton statistical au-
thority in this county, deducting only 80
per cent. as the average loss from last
year of all the cotton producing states
(although we believe the end Will show
Nor Mt 4 a 1n
indicates only 129 pounds of lint per acre.
Multiplying this by this bureaus acre
age, 100000, which is more than 100000
larger than the financial chronicles, and
dividing this result by 465 pounds of lint
per bale, we have indications of a crop
so dangerously small as to bring about
an up turn in the price such as would
seem just now, to be unreasonable to say
the least At the same time IL is just
What the short interest fails to see is
that while all efforts are being directed
towards depressing contracts the basis
of contracts-spot cotton-is in greater
demand at advancing prices througout
the cotton states in this country which
are producing what the world consumed
So per cent. of, in its consumption of all
kinds last season. This is the reason, and
| it is certainly a good one-why we are
predicting a decidedly higher market"
| Daniel O'Den & Co.'S review of the cot
ton market by private wire to T. f. John
| son, broker, Provident Building:
New York, oct. 14.-There was an adj
/ vance OF 5-b4JnS IN LlNelpOOl lo-udy, winch
had hardly been looked for on this side,
| and the close was very steady, with spot
/ sales of 10000 bales at unchanged prices.
/ The small sales are accounted for by the
/ statement that the mills on the other side
/ are buying futures instead of spot cot
! ton. Our market opened up at 9.13c for
| January, advanced to 9.16c, declined to
| 909c and then sold at 916c, which was
/ the closing and highest price OF the day,
i as well the highest yet reached for
/ the crop. The trading was quiet and tran
SactiOns for the day 21l,fOO bales. The
4 net advance was about IA points. Re
/ ceipts continue large, while reports as to
/ the probable crop grow more bullish from
day to day, particularly as regarding
| Texas whose yield is now generally esti-
mated as something below 100000 bales,
/ and all the way down to ], 100000 bales.
This extremely small crop for that state,
| it is said will soon be apparent by rapid
/ falling off in the crop movement. Bush
ness continues to improve not In a way
| that might be termed as boom" but
| steadily and surely The worlds produc-
! ton of gold is also increasing, and IL is
| estimated that 1t will be much larger
/ this year than for many years past and,
| taking everything together, general trade
| is undoubtedly on a rising tide, however,
all these things will be discounted, and
| like pig iron, many commodities viii be
| pushed up higher than the market viii
/ stand. There never was az better illus
/ tration of that fact than the present cot
| ton market has shown. and 1t is ques-
ton whether, when the day Of light re-
| ceipts comes, everything may have been
| discounted in the price. and instead of
| the market rising on light receipts. * may
be the signal for breaking it. Such O
| speculative market, and close observers
| and shrewd spectators take advantage of
/ it by frequently selling on good news Cor
bull news), and buying on bear news.