The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-11

decline abroad. January declined 10 gee
ana then rallied 10 9.O6c. mis- was Just
before noon, when the bureau report was
announced, making the average condition
ol me crop bo-I as against 81 at this
tme last year. There was a wild rush
70 sell, ana II seemed hard to get a bid
In moment January was selling at S.SSc;
little later il sold at S.S5c This was
the lowest of the day. 1aere was abso-
lutely no Justification in the bureau figures
Tor this startling break. The report was
the worst October showing in years, and
was about sSbad as was expected. But
the market was loaded with long cotton;
was honey-combed with orders TO sell II
the bureau figures were over 65 Many or
uers were also 10 sell after the bureau
announcement, whether prices were high
er or lower, and still more to sell in case
OF a decline. The accumulation Of these
orders precipitated a mass of cotton upon
the market in moment and the buyers,
seeing this state OF things held off SO as
20 GET IN as low as they could. But when
the selling orders had been executed. a
quick recovery followed January rallied
fully 20 points from the lowest, selling up
70 SOoc- Then those that had bOugh. at
their selling caused another decline.
January reacting to S.95. Ihe close was
barely steady, with January at S96GS SIC.
The feeling this afternoon as to the course
OF prices is very mixed. Our own opinion
IS that, sooner or later, cotton will bring
higher prices than any We have yet seen
this season."
New York, Oct. 1O.-The Suns cotton re-
view is as, follows: Cotton fell q to %
steady at net decline for the day of Is
to Is point, with sales of 1924 bales
Liverpool advanced 1-16d on the spot with
sales of 1900 bales; futures advanced
points, but lost this and closed barely
steady at a decline for the day of p to I
point. New Orleans declined IS to n
points. March showed the greatest de-
preston, but later on March recovered Is
points OF the early decline. Manchester
was strong Tor yarns; cloths quiet. The
Bombay weekly receipts were 10 600
againts 10000 in the same week last year;
shipments to the continent, 1000 bales.
me New Orleans receipts tomorrow are
estimated at 1000 to 1900 bales, against
1884 bales last Friday, u 49l bales last
year and 1910 bales in 1898
"To-day's features. The bureau report
was bulllsh, but II was not bullish enough
to suit some of the bulls, although the
condition was stated at 65.1, which is the
lowest Tor any October since 1881. II
showed decrease within a month of 81
per cent, and it is n.6 per cent lower
than that of year ago. But il also
stated that the condition in Texas haq
improved per cent. during September
ana there was perfect avalanche of SELF
ing orders, which swept down upon the
market with such rush that prices Were
depressed nearly 30 points. The receipts
were hDeraI. the signal service predicted
warm weather, and little attention was
paid to reports of frost. New York. the
south and Europe sold heavily. and a
good many stop orders were caught on the
decline. The Liverpool news was dfsap-
pointing, although the market there was
active. Cotton goods were ADVANCING
New Y ork; a good spot business was done
at New orleans and Memphis and in some
southern markets spot prices We're higher
Inc top crop is almost everywhere a COM
plete failure, and the yield of cotton gen
orally has been shortened by the prema-
ture opening of bolls On the big decline
the buying power once more asserted H.
sell and sharp rally took place Locaf
pulls and New Orleans operators bought
New York. Oct. 1O.-Atwood. Violet G.
Co, say of cotton: THE bureau of to
day reported condition of e51, against
i9.S last month and 1873 in October 1892
the season of the 6,7OO.OOO crop. what
should loss of 80 in condition mean
compared with 1892 and frosts on Sth and
9th or october throughout a large portion
OF the cotton belt, which, in the Mem
PMS district, was seventeen days earlier
than the average in twenty years This
crop has probably been cut short by frosts
or past forty-eight hours 500 900 bales
which must be deducted from what the
bureau indicated the yield to be on Sept.
port of Sept. 26 shows the following
stocks there, other than Americana: Bra
lillian, g,24O; Egyptian, 20,093 West Indian,
5l,l6S; East Indian, S1,5OO Does not this
show their dependence almost entirely
upon American cotton. and confirms the
estimate that it constitutes So per cent. of
kinds? Apparently the worlds mills must
have it. but whether at their price the
producer must decide"
Daniel O'Dell e Co.'S review of the cot
ton market by private wire to r. f. John
son, broker, Provident building:
New York, Oct. 10.-Information coming
to us from every part of the south grows
more and more bulish. Nearly everv-
where, the whole crop is said to be de-
stroyed. Messrs. Martin, Wise & Fitz-
hugh telegraph us from Paris, Tex that
nearly all the fields which promised any
top crop are full of worms which are
eating everything green, and this is a fair
sample of the news coming from nearly
all points. When the worms first an
peared they were readily destroyed by
paris green, the second coming was also
disposed of before great injury was done
but on the third appearance of the pests
paris green seemed to have no effect and
the leaves and weed were eaten M
whereby any chance the Top crop partially
escaped destruction by worms, it has been
killed by drought and frosts Many men
who estimated the crop at 100000 a
month ago, are decreasing their estimate
below 100000, and we are in receipt of
estimates from men whose Judgment in
the past has been excellent, placing the
prospective yield at only 100000 bales
Liverpool first advanced l to 2 points
but later lost this, and closed barely
STEADY, point lower than yesterday, but
Lied higher on spots.
First prices here were off from yester-
days closing, but rallied to 9.I2c for jan
uary, but at u O'Clock it had sagged back
to nearly cents, and the reading of the
government bureau report caused a break
of 10 to 20 points, January touching SS5c
The reported condition was 65.1, against
7O.S in September AS foreshadowed in
our advices, deterioration was said to be
due to drouth, and worms, and almost to-
tai failure OF the top crop. majority
of traders figure that the bureau report
indicates crop of 100000.