The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-02
Weekly Market Review.

The shadow Of the approaching election
dominates all affairs financial and COM
merclal. Always a quadrenniaI disturb
ing factor the selection of a President
and congress this year is far more so
than usual, for upon the result hangs
our national financial policy. Despite the
assumption of confidence in leading finan-
cial centers that the result is practically
assured, the actual facts betray a con-
dition of extreme nervous apprehension
in the markets. One of the most obvious
manifestations of this during the week
was the otherwise causeless stringency of
money, the rate rising on Thursday in
New York to 100 per cent. Upon one point
nearly all practically agreed, and that
is, that the prospects are for a lively time
in the markets after the question of
money is settled, and that there will be
unusual opportunities for successful oper-
atoms in the great markets 1.-the coun-
try. 1t must be borne in mind, however,
that while chances for making fortunes
will be more numerous than usual, at the
same time, from the very nature of the
case, the danger of losses must also be
greater, although not to an equal extent
A general advance in prices of staples
and securities necessarily implies a great
increase in the aggregate money wealth.
Wide and frequent fluctuations in prices
may be looked for. The cautious investor
should therefore select the proper time
for venturing his transaction, while the
timid one would probably do well not TO
venture at all.
Cotton-The market has ruled quiet with
a moderate range of prices, except that
toward the end of the week there was a
rather marked increase of strength. The
net advance amounts to about u to IA
points, with a firm undertone al the
close. The strength came from a notice
III col asw.NsH at
terror towns. The most suggestive fea-
ture of the decrease is the fact that the
loss appears largest in the class of towns
closer to the producer; larger distributing
centers report a fairly large movement.
Disturbing elements aside. the general
sentiment is favorable to the maintenance
of present prices or a higher range. 1t is
authoritatively estimated that a crop of
$500 900 bales at least will be required to
satisfy consumption, and hardly any one
attaches any weight to the extreme large
crop estimates any more. The trade ap-
pears disposed to disbelieve in either
larger crop or a short one, considering
that in mediis veritas. But in the course
of the next few weeks we may meet with
a tendency to adopt smaller figures.
Grain and Provisions-Whea was few
erish and unsettled, but mostly strong,
closing about &c higher. The foreign de-
mand keeps up and cable advices were
favorable to holders. But for the artifi-
cial tightness of money it is pretty certain
that prices would have been materially
higher by this, for the recent sudden drop
of over II cents for a similar reason, en-
genders a wholesome caution among the
most enthusiastic. Apprehension Of vio-
lent unforeseen changes has tended to re-
strict operations; the trade is preferring
generally to even up and await events.
Provisions were generally quiet, not
much doing, and only slight price changes.
until Saturday, when there was fair adj
vance. The tendency seems upward and
If we have no financial disturbances we
shall probably see a higher range of
values during November
william T. Williams.