The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-20

New York. April lS.-HOpkins. Dwight
q GO weekly cotton review. our mar
ket for the past week has shown an i'm
prOVement In values OF cotton. the fiuctu-
alton being about II points from the low
est price touched Monday TO the highest
price realized yesterday-7.6oc 10 7.Tc, for
the summer months The better prices
have been due partly to the lighter move
ment this week. the fairly liberal exports
ana 70 some more disposition TO buy cot
Ton Tor the summer months due TO an
expectation of increased exports on ac-
count OF the prevailing low rates of freight
and the expectation, therefore, OF a con-
tnued depletion of the United States
stocks. AT the same time the market has
never al any time shown much activity
or much increased disposition 10 operate
IN the summer months. 1t seems, how
ever evident that the short interest is
large enough to be somewhat nervous, and
may possibly help the people who are
operating for an advance in prices solely
upon the basis of a large short interest in
the market TO succeed. partially in their
EFFORTS We continue. however. to advise
our friends 10 abandon trading IN the sum-
mer months for the reason that the sta
tiStical position is strong enough to in
Nlte manipulation, If a sufficient short in
terest IN the market can be obtained TO
make manipulation worth while; while. at
the same time there is no legitimate rea-
son that we can see why cotton should be
selling at any higher figures than those
ruling at present for the summer months
Our spinners continue TO hold aloOf from
the market, and it looks as if very little
the mills for the balance of the season
TO furnish them sufficient supplies until
the new crop Is available. The weather
continues favorable for the development
and growth of the crop, and unless some
thing happens to excite apprehension
about the growing crop, or some decided
Improvement comes in trade TO make spin
ners buy cotton with more freedom, there
is no reason why any permanent improve
ment in prices can be expected.
I'VE are glad, however. TO report that
there some. hOnpfnl inGira tiOng in the
general business situation. The iron mar
kets appear TO be more active and higher
prices are being realized. The warm
weather is increasing the sales of dry
goods, and our mills may be relieved to
some extent of their very burdensOme
stocks of goods. The stock market is
showing some Improvement and there may
be some hope of foreign buying of our
securities which may impart some actiV-
ity and better prices for all issues that
are upon a sound basis. The prices
however, of all other commodities, par
ticularly of provisions, continue to be upon
a very low plane, and there is hardly any
commodity. to-day that Is ruling at as
high a price, comparatively as cotton.
These low prices are due, as much as
anything to the general indisposition to
buy anything and hold it for an advance,
because of the fear that has pervaded bus
mess circles since December of some ac-
ton by congress that would upset any
calculation. When the incubus of lingo
and political legislation is removed we
may see this confidence return and a grad
ual Improvement in prices follow, simply
because people will then believe that they
can exercise their business judgment with
some degree of safety. Another favora-
BILE feature of the week is the very faV-
orable report that the chancellor of the
eXcheQuer made yesterday in the House of
Commons of British trade for 1895. show
ing general prosperity We have every
reason to expect equally prosperous times
when, our currency is placed upon an
equally sound basis with that Of Eng
land"