The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-29


Of cotton: Liverpool to-day made but a.
tame response to our advance of vester
oay, and during the two hours of trading
mere, the sellers outnumbered the BUYERS
ana prices declined. January opened at
L63c| and after rallying to lose. gave way
under the pressure OF offerings and fin
ally touched 752c, closing at the lowest
OF the day, with the tone easy The re-
ceipts to-day We're again large and the
main impetus to the downward course of
prices came from the posting of the fig
ures from savannah, which We're espec-
Tally heavy. The bears, who now number
in their ranks the big German traders.
who a short time ago were prominent on
the bull side, declare that during the rest
OF the season more cotton will come into
sight every week than during the CORE
spending week of last season. The bulls
ridicule this assumption and claim that a
great deal more than half the crop is al
ready in sight and that in a very short
time the reduced receipts will make this
plain to the trade. We incline to the
opinion that the bulls will prove to be
right; but the trouble is that they have
been woefully mistaken so far and that
while their views are supported only by
inference, comparison and hope, the posi-
ton of the bears is strengthened every
day by the addition of many thousands of
bales more to the visible supply than on
the corresponding day last season. The
danger is that this may go on until most
of the tired bulls are forced to liqudate
and perhaps, at much lower prices. Until
lighter receipts shall point the way to a
lasting advance we cannot advise our
friends to buy, but we do urge them to
accept any profit upon long contracts
which an upward turn in the market
may place within their reach
New York, Nov. 2S.-The Sun says of
cotton THE continued liberal crop move
ment, both at the ports and interior towns
forced realizing sales to-day, depressing
prices sharply Yesterday the port re-
ceipts for the week were estimated at as
low as 275, 900 bales, but to-day the move
ment is expected to reach last weeks fig
ures, which were 3OS,000 bales. New Or
leans sold here, but the trading was main
ly local"
New York, Nov. 27.-What Silsby & Co.
say of cotton: Liverpool spot cotton
opened quiet this morning, prices 1-16
higher. Futures opened steady at an ad-
vance of points over yesterdays close,
ed off 8 to 4 points, and ruled duh and
weak during the half days session, clos
ing barely steady at decline of 10 to IL
points on the day. The decline at the
opening caused considerable realizing by
the room traders which continued the
downward movement. Liverpool and New
Orleans sold moderately at the opening,
and on a large volume of business prices
would have gone much lower. We find
the conditions in the cotton market for
the past week very much improved. There
is less pressure to sell and all towns in
Texas show a falling off of over 20 per
cent. in receipts for the past week. There
seems to be but few orders from outside
sources, either for local or southern ac-
counts, and the disposition appears to be
to wait the development of the movement
from the planters hands. Exports would
have been heavier before this had not the
high freight rates checked them; as soon
as the rates ease we expect to see con-
siderable cotton exported We look for a
decided falling off in receipts next week,
when much higher prices will follow"