The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-11
weekly Market Review.

Cotton-Some little excitement made an
appearance at the commencement of the
week. On Monday the market was strong
September deliveries leading with an ad-
vance of % points. Prices held pretty well
during the first half of the week, and then
slowly. receded, October failing 20 points
from the highest and August IA points At
the close August and September were 6
points higher than a week ago, nearer
months only point or two higher, while
winter months were points lower. The
volume Of transactions was much lighter
during the latter part of the week The
early strength was Of ominous import to
the short contingent; but the bears after
wards plucked up a remnant of assurance,
and now claim that the force of the So
called boom has spent itself 1t must be
obvious that If Mr.. Inman or any strong
combination figured on a bullish summer
campaign, they will want to be embar-
raised as little as possible by spot cotton
which may have to be disposed of after
wards at considerable loss. a material ad-
vance thus early would check exports a
Liverpool would hardly keep pace; later
on, in July or August, when stocks there
nave melted away, II will be another mat
ter. Up to this time Liverpool has follow
ed as well as was probably expected The
whole question seems to depend on
whether or not there is any considerable
interest in the market; il there is. it is
certainly contrary to common sense to sup
pose that on such a strong statistical posi-
ton, bul.sh campaign would eliminate
the nrst OF May, almost at Its incipiency.
The poor state of the dry goods trade is
due to wholesale buyers generally. hold
ing aloof, being impressed with the pre-
Vail1ng bearish sentiment; this only means
that they viii have to make relatively lar
ger purchases later. New York bears now
generally prompt selling of new crop deliv-
cries. There are two ways whereby the
south can be reasonably sure of higher
prices for cotton: One is of course. pro-
ducing less; the other is going heavily
short of the market, which is about as sure
a means as the other The south may not
be reducing production, but there seems
a general disposition to sell short which
may prove il-adVised. With such small
supplies as the new season is certain to
start with, cotton does not appear so brill
liant a sale attn cents until we have more
than the mere suggestion of a supernatural
ant crop, and 1t will be fully two months
before we can begin to count on anything
of the kind with a show Of reason
Wheat-'The market stiffened little
prices advanced latterly cents above
those prevailing early, then reacted some
and closed at a gain of about &c for the
week. The main support came from re-
ports of damage by insects In the south
particularly in Kansas, where the pros
pect was previously announced as favor
able Some aid was afforded by a foreign
advance based on reduced shipments from
Argentina. The weather has been favorable
generally for spring wheat start The gov
eminent report Monday is awaited with a
good deal of anxiety by both sides. The
conditions seem TO justify investment on
depreSsions without very serious risk
PROVISIONS nave amOrded holders no en-
couragement Whatever; the trade looks to
be entirely demoralized, and prices have
fallen yet lower. Lard suffered the most,
having declined % points, pork 35 cents and
ribs l212 points. Prior to this depression,
lard has never sold below $3.50 in Chicago,
even IN times of epidemic and panic 1t is
now about $40. Spot ribs are $500 Des-
pite the feeling Of extreme discourage
ment, these prices are low enough to tempt
buying by those who can afford 10 hold on
and wait. VIM. 7. Williams