The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-08

closed about 1 points lower for the dav
WITH the tone barely steady and the sales
are estimated Al $4,000. Liverpool was IN
changed on the spot, with sales Of 1000
bales Futures declined y 10 / point, and
lhen recovered l point, after which 1t re-
acted again and closed quiet at a decline
Tor the day OF 10 H. points In Manches-
ter yarns were dull.
Io-day's Features Were: With the ca
bles lower and the indications pOinting to
heavy receipts at the ports. with some
selllng by Europe, as wen as by local and
southern interests, prices dropped in the
early transactions, although New Orleans
was a buyer and there was some reports
OF damage TO the crop in parts Of Texas
ps uI,IlG,a 5es, The German houses, as
Eule,a incline to the bear side, but the
pears were cautious, and so, for that mat
ter, were the bulls. Many of the bulls
would not object to a good decline. hav-
ING hquldated OF late, and being naturally
deslrOus or getting in again on a more ad-
Eantageous basis At the same time, there
IS a general feeling that the bureau re-
port 10 De issued on Thursday will be dis
tlnctly bullish- The market closed at a
moderate decline for the dav on selling
orders for local and southern account
though the crop adNices continue in the
main unfavOrable, numerous reports being
received OF a shortage in the Weld and
OF hght bales. From South Carolina and
georgia reports OF bales so TO 40 pounds
shorter than usual are being received
New York, Oct. Atwood. Violet &
co. say of cotton to-day: There can be
the contract markets of this country
and Liverpool are making a hard fight
10 depress prices so as to enable them
10 cover at a profit, sales recently made,
as well as those put out at much lower
ngures. Practically this means an at
tempted dictation to the people who have
grown this crop. The latter have made
not only a very small crop, but even
less than Europe believes or will permit
themselves to believe. VIII the south
reap the benefit of a yield that may
be dangerously small for the worlds
splnners, or can the planter be COM
PEELED to part with IL by those inimical
to his interests at prices to suit the con-
sumner? This seems to be the question
OF the moment"
New York. oct. 7.-Cotton letter to T.
Il. johnson, broker, from O'Dell & Co..
The following figures may be found not
only interesting, but worth consideration
on the part of dealers in cotton, as well
spectators: 1890 to 1891, middling, 15-16d
lose; consumption, 100000 bales, Amer
can; 1891 to 1892, 11-16dS34c; consumption,
100000 bales; 1892 to 1888 Z 1-16ql0c; con-
sumption, 100000 bales; 1898 to 1894, $50
9-16c; consumption, 100000 bales; 1894 10
1895, 9-l6MS 3-16c; consumption, $500, 600
bales. In this 1T means the amount of cot
ton taken out of the market and which
is not necessarily consumed during the
year, which is credited with ii, but may in
part be carried by spinners and others,
and therefore exist as invisible" sup
ply. At the beginning of this cotton year
the visible supply was 100000, adding 10
this the established crop OF 100000 We,
cotton for the current year. Allowing
100000 for consumption and 100000 to be
carried forward for speculation, we leave
our clients to judge whether a higher level
than cents in this market appears a safe
level to make purchases. If we make due
allowance for increased consumption dur
ing the past year on account of the eX-
IRENE low price, we still doubt that the
100000 bales were taken without freely
increasing the invisible supply and the
disinclination of foreign spinners to take
cotton at present prices would indicate
that they are carrying good stocks which
were accumulated during the recent de-
preston in August. Even with a supply
of 9,6O0,OOO of American cotton for this
year there appears to US no immediate
prospects of a cotton famine and nothing
to warrant unusual extremes in prices,
and we believe that with material changes
in the business outlook and prospective
cotton yield, the staple will probably be a
sale on every sharp advance and pur-
chase on serious breaks. Liverpool was
higher in the earlier trading, but finally
closed quiet at 1-64c decline, with sales or
10000 bales at unchanged prices. Our
market was quiet and duller than it has
been lately, closing with net decline of 5
points.