The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-16
weekly Market Review.

Cotton.-The market has been quieter
and narrower although with frequent
minor fluctuations. Upon the whole the
temper has been slightly frmer due TO
moderate movement, and continued firm
ness and activity of Liverpool where spot
takings have been again liberal. New
YORK is sun bearishly inclined, although
not as generally so as formerly. That
feeling, however still predominates there
enough to prevent them from responding
to the relative strength of Liverpool in
more than a half-hearted way The
strongest day was Tuesday, when the bu-
reau Unexpectedly promulgated an esti-
mate OF the crop. March advanced nearly
to S.5Oc that day, but reacted partially
iater in the week, the market closing
barely steady at $3.50. The bureau puts
the crop at 6,S75.000 bales of 500 pounds.
considered equal to about 5000 average
weight. Those who believe in a. crop of
over 100000 bales claim that the usual
tendency of the bureau to underestimate
the total JuStifies our expecting the same
this year, and consider or claim that the
bureau virtually sustains their position
On the other hand, We must remember
that the probabilities of error are much
less in small crop, soon harvested, than
in large crop, spun out away into mid
winter. Besides, the report states that
many places have already marketed all
their cotton. The. feature of the move
ment which bears out most strongly the
short crop side is the marked falling off
OF receipts at some interior towns, which
hitherto have been running tolerably well
up to last year. The bears say that even
with a crop of 6,500,0O0 to 6,75O,0OO bales
prices are high enough. We cannot think
so. Last spring had any such crop been
assured, we would all have deemed very
much higher prices as certain. The
worlds consumption proceeds on a most
liberal scale, and those spinnerS who are
working UP their reserves, will exhaust
their supplies after awhile, and then they
Will nave to come to our markets. Nor
are they apt to wait too long, fearing that
cotton may look much scarcer toward
spring.
Grain and Provisions-Wheat showed a
firm front early in the week, chiefly on
an unlocked for decrease in the visible
supply on Monday, when a 100000 bushel
increase had been expected. May sold as
high as 6314c, but later the market turned
heavy again, losing all the advance and
more. In fact, May fell on Saturday to
6Oc, where 1t closed, which is nearly as
low as it has yet been this season. Weak
ness abroad, and some talk of expected
heavier supplies from other exporting
countries, seem to have been the chief
ostensible cause of the break. No doubt,
however, much was due to the forced liz
quotation of the trades of a large con-
Germ suspended for violation of the rules.
Here, statistics are growing stronger, and
the government report for December was
not of a character to discourage holders,
the condition being materially lower than
had been expected. We agree with our
Chicago friends In approving purchases at
Corn and oats have also declined in
sympathy with wheat, and closed at 2S1ac
and 19c for May, respectively. These
prices are so low as to render unlikely any
further material depression. They act as
a damper on marketing the stuff and
lead to enormous waste Prices do not al
ways remain low in large crop years for
these commodities. In fact, they advance
sometimes after the most enormous
crops so materially as to cause many to
think that the extent of the yield has
comparatively little effect in the long run
in the case of a heavy crop.
Provisions have showed a. firmer front
in the face of the weakness in grain, pork
closing at a gain of 20q25c from lowest,
and ribs 1215c. There is some little more
life in domestic spot demand, and Eu-
rope is expected to take larger quantities,
on account of the unusually low prices
now prevailing. May pork closed at
SSS71s; lard at $5.5215, and ribs at s4.521a.
Warfeld & Williams.