The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-08
9-S2d; low middling, S-16d; good ordl-
nary 4 1-1GI. nrainarxr gid

4 S-oZus low mludllnSs o-lous BQou Orul-
nary, 4 1-16d; ordinary. S5sd.
400 p. m.-Cotton: American middling,
low middling clause: December. 4.10a4. lid
sellers; December January, .0Sq4. 09d, sell
ers; January February, 407Gi4 0Sd sellers;
February-NIarch March-April,. April-May,
4.Nd, buyers; May-June, 4.O7G4 esd, sellers;
June-July. 4.0Sd, sellers; JulyAugust,
4.OSQ4.Osd, sellers; August-September. 4.O6d
sellers. Futures closed barely steady.
New York, Dec. Z, noon.-Cotton futures
opened steady at the advance; December,
7.SOc; January, 1860; February, 746c;
March, Z54c; April, 7.6oc; May, 1850.
New York, Dec. Z. A p. m.-Cotton futures
closed quiet and steady; sales, 100000 bales:
December, 727c: January, 1850; February,
7.40c; March, 7.4Sc; April, 7.5Sc; May, 759c;
June. 1850: July, 1859; August, 767c.
New Orleans, La, Dec. 7.-Cotton flu
lures quiet; sales 6S,609. December, 7.OSc:
January, 7.05c; February, 7.1Sc; March.
7.21c; April, 1850; May, Isle; June, 1859;
July, 1880.
New York Dec. 7.-Riordan & Co. say
of cotton: ''The market to-day was a
hestating one It opened at an improve
ment, which, however, was soon lost.
March, which closed on Saturday at z5lc.
opened to-day at 757c. But Liverpool
was again heavy seller and March grad
ually declined to 7.43c. In the final trad
ing the buying of the German element
quiet and steady. with 74Sc bid for March.
Opinions are about evenly divided to-
night as to whether the bottom has al
ready been touched or whether we shall
go lower. 1t will depend mainly on the
attitude of Liverpool. But she will hard
ly turn buyer until she has been thor
oughly frightened by an unmistakable
drop in the receipts. 1t may be that
cotton will go somewhat lower yet, out
we are inclined to advise our friends to
buy now upon further recessions. We are
satisfied that the crop Is overestimated,
and we believe the trade will soon awake
to recognition of the fact"
New York, Dec. 1.-The Sun says of cot
ton: Spot cotton here was unchanged.
Middling uplands, 7S-16c against S7-16c
last year. The Liverpool news to-day was
better than had been expected, and prices
advanced here at the opening. Liverpool
reported a good demand on the spot at
an advance, and futures there rallied after
an easier opening. The Indications pointed
to moderate receipts at the ports, and
Liverpool bought here. But the improve
ment was soon lost, and a decline follow
ed. New Orleans sold freely here; Liver
pool reacted and the receipts at some of
the interior towns were larger than last
week, while the estimates for New Or
leans and Houston tomorrow were heavy.
The tired longs threw their cotton over
DUdTQ anu SCdlDEIh LOOK pFDI1tS. 1t was
reported that selling by New Orleans was
partly for account of prominent opera
tor, whose death was announced. Be-
fore the close part of the loss was re-
covered The Presidents message induced
some new business and shorts covered
One firm here, whose estimate of the crop
last season was close to the actual yield,
issued a crop estimate of $4,000 bales
to-day"
Neuv York nan TUyg.e4 Gilebsrg q, 20
say of cotton: 1.-THE market opened this
morning at an advance of 5 to points over
Saturdays closing prices in sympathy with
the advance of over points, which was
shown in early Liverpool cables, this gain
was soon lost however, and the bears
hammered the market during the entire
session, using the large receipts as their
argument for lower prices. Communica-
ton with the south is still somewhat inn
paired, and support from this source is
crippled for the time being. The close was
quiet and steady at loss of u points on
the day. During the early part of the ses-
sion there was some cotton bought, pre-
sumably for Liverpool and New Orleans
accounts, but the effect was small, and the
support soon withdrawn. There is little
or no outside business, and the room trad
ers are under the impression that receipts
will be heavier and show no signs of fall
ing off for the time being. Under that inn
preston they began selling the market
heavily. Everyone for the moment seems
mixed on the situation, and hardly have
an opinion, however, many think the mar
ket reasonable. Its future course will
rest entirely with receipts. Our private
advices from Liverpool Indicate that they
seem to be doing a fair business there, and
the dry goods market reports show that
prices are steady and fair business do
ing. While we believe the receipts will
be large for this week, yet, 1t is no more
than was expected. owing to the movement
having been blocked for nearly week by
the bad weather and we believe that the
breaks" 1s4