The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-11
sAvANNAH's Trade YEAR.
Continued from Second Page.


figures more than &c, which was dur
ing the month Of December The entire
crop could have been disposed Of without
trouble on a much higher basis and Is
cents for extra fine should have been the
lowest price accepted at any time.
When consumers witnessed the big
slump in prices early in October, they hur-
ried up 10 arrange TO take their supply,
and while receipts continued unprecedent-
" large the demand was terrific, and by
Feb an enormous crop had been about
marketed and absorbed. This was a rev.
alatiOn 70 the trade 1t was unexpected
and a great surprise 10 the very best
posted men in the business. It was even
more surprising when 1t was learned that
several mills were found lacking. in the
aggregate, quite a large quantity of good
cotton that they required 10 keep them
running until another season. Relying on
their being able at any time to obtain their
needs, as the crop was so large, they de-
layed purchasing, thinking that when all
the mills were supplied there would be
more cotton than would be needed, when
suddenly 1t was developed that nothing
remained.
The stock carried over, both in the coun-
try and at the ports. is the smallest on
record, amounting TO a total of scarcely
go bales outside Of Savannah and Charles
ton. This is less cotton in the interior by
1850 bales than there has been for years.
The preparation of the crop was very
good, outside of the September receipts,
which were full Of lea. and, in numbers
of instances badly ginned. The crop
classed up about an average good one.
Some trouble existed in the early sea-
son with light weights before packers ar
ranged to put more than 800 pounds in
bale. This was new rule, the weight of
merclantaole bale having been raised
took a little time to adjust itself.
Spectators had gained confidence dur
ing the past season and, while not oper-
ating on any large scale, where nice lit
tie business was done by them and with
good results. This is the first time in years
pered.
While the entire upland cotton growing
country has suffered severely on account
of low prices, the sea island merchants
and farmers have prospered: so much so.
that wherever sea island cotton can be
grown, it is planted in the place~of up
land. The area has been greatly increased
and extended, so that without the use of
scarcely half the fertilizers ordinarily en-
ployed, large, crop is confidently ex-
pected, with ordinary seasons from now
on, probably amounting to 1900 bales,
and larger with perfect seasons and a late
frost. 1t will be smaller, of course, if
the seasons are very unfavorable and with
an early frost. The prospects are that.
even should the crop turn out to exceed
expectations, it Will be all needed and abb
sorhed. The current prices, of course,
viii be regulated by the developments of
the crop as the season advances.
Such was the demand for long staple
cotton that upon the disappearance of our
American crop, Egyptians advanced &c
a pound In very short time, and was
eagerly bought up.
The buyers and exporters never had a
more prosperous and satisfactory season,
Win the exception LudL IntlT COMMISSIONS
were rather smaller than usual. This was
caused by close competition and the rather
lower figures to calculate commissions on;
but this was partly made up by the in
creased requirements OF their constituents
and their ability of shipping more than
usual. a., the crop was big one.
The following is a resume of the sea
island cotton business by months:
September-The month opened with s14
bags on hand. The receipts during the
first two weeks amounted to about 900
bags. The demand was comparatively
light on account of the inferior quality Of
the staple, the majority of which was
damaged by to much moisture. Medium
fine, which started at Is cents at the be-
ginning of the month, soon declined and
became nominal, while choice, extra fine
and fine grades were selling at l6 cents,
Is cents and IA cents respectively, about
the third week. The market continued
quiet up to the close of the month. The
receipts were over 5000 during the month,
the largest ever known in September.
October-During the first week of the
month"; there was a fair demand for the
three finer grades of Georgias, and some
inquiry for F1oridas, but low grades con-
tinued quiet and nominal. The receipts
were largely OF common grades. Prices
continued to decline on lower grades, and
the sales We're at concessions, being about
the amount of the receipts Choice grades
were in good. demand, and the prices ruled
steady. At the close of the first week
choice was quoted at - cents, extra fine
at 1917. fine at 1914 to 1924 cents, and NOM
inal for medium fine and below. At the
end of the second week the demand had
been stimulated by the falling off Of the
receipts, as compared with the previous
year, and the sales were in excess of
the receipts. A storm about that time
also contributed to the uneasiness of the
buyers, and caused the prices to halt in
the decline noted in the first week OF the
month The third week was quite act
i've, with a strong demand for the finer
grades, while lower grades were not
sought, and consequently declined slight
" The conditions remained unchanged
during the balance of the month, with
slight declines in medium fine and fine
steady as follows: Choice, 1415 to 10 cents;
extra fine, 1872 cents; fine, y cents; medi-
UNI fine, liz cents. The receipts for the
month were H. 13l bags, the largest ever
known.
November-The receipts continued to
pour in, but the demand for the finer grades
kept up lively. There were large sales in
all grades, but the common qualities were
forced down in order to meet the views
of buyers. The same conditions remained
throughout the month, which closed with
choice, IS cents; extra fine, 1872 cents;
tine u to l212 cents, and medium hne, II
December-The demand continued strong
for the finer grades while the general
receipts were easily disposed of at slight
concessions on the common grades. The
receipts during the early part OF the month
were mostly medium and low grades. This
affected the market to some extent, caus-
Grades The9re eeI1s for the month were
l5.40l The market closed firm for finer
grades and Steady for common, with
u
the month ,weres Choice, IS cents; extra
fine. 10 cents sfines 1111 to LIE cents; medi-
UNI fine, IL cents.
January-The month. opened with the
conditions unchanged, but at the end of
the first week there was further decline
in the lower grades and heavy business
done. The sales for the week aggregated
4,000 bags, while the receipts were l,322
bags. The demand continued strong for
choice grades. the latter advancing about
y cent pound. There was an active mar
ket during the last two weeks of the
month. The sales for the month were
greatly in excess of the receipts, being
about 1900 bags sold, against 5000 bags
received. The prices at the close of the
month were as follows: Choice, 154l6
cents extra fine full, 14615 cents; extra
fine, scant, 1872 cents; fine, nlsM12 cents;
medium fine 101Qu cents; medium, 10
cents.
February-The receipts began to fall off
OF the opening Of the month, and it be-
came evident that nearly all of the crop
had been marketed. 1t was estimated at
That time that the entire amount of cot
ton in first hands did not exceed 5000 bags.
The demand -eontinueG active for all de-
sirable grades, and prices advanced. How
ever, the offerings were Light, and quick