The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-23

$50. December. &3sc. January. S3sc;
| February. s. 45c. March. sac. April, 65lc;
] May. H5cls sales, IA. 50 bales.
New York, Aug. 2.-The total visible
supply OF cotton for the world is 1871 $50
4 bales. OF which lOis. So bales are Ameri-
4 can, against 2f92Z7s bales and 2.13. 07s
! bales respectively last year. Receipts OF
4 cotton this week az an Interior towns.
| iZ.ll5 bales; receipts from the plantations,
I 5J,aH bales. crop In sight Ie-5.56o bales
1 New York. Aug. 2.-Riordan & Co. IN
| their weekly review OF the cotton market
| say The week close without any ade-
I quate relief from the long and severe
| drought that has bliEhted the cotton crop
| which ia June gave so fair promises Of
! any enormous yield The market to-day
/ was extremely nervous IN its fluctuations.
The Liverpool report was somewhat dis
appointing 10 the bulls, and the market
here opened about points Off. January
opened at s35c. but soon advanced. In an
hour the market had become strong. and
January sold up 10 $50 just then. upon
kilograms announcing indications Of rain
IN Texas there was some heavy selling.
and January declined TO Bic but the offer
lngs at the decline were quickly abb
sorbed. and the close was steady with
January S39dS.4oc As the end Of the cot
ton year approaches the difference be-
tween August and the later months Is
melting away as we expected.
The advance in prices finds the market
in "a peculiar position. The traders here
having until very lately little faith in the
serious character Of the crop disaster.
We're all short Of cotton. There have, at
last. become thoroughly frightened, and
have covered their ventures at a thump-
ing loss. on the other hand there is a
marked absence of those vast pyramids
Of long cotton built up by southern specu-
lators with which the market was so TOP
nd s4rh fv-
the memorable October collapse Thus
the market at the moment is neither over
sold or Over-bOught, and cotton in the i'm
mediate future is likely to rise or fan
upon its merits and In obedience to the law
OF supply and demand.
The trade seems undismayed by the ire
mendOus volume OF the early receipts.
and judging from the brisk demand for
new cotton. splnners realize that the I'M
precedented receipts pOrtend a short pick
ing season and a coming scarcity of the
staple. We think cotton will gradually
20 higher though frequent reactions are
to be expected We see no reason to
change our ADVICE OF last week; Don't sell
cotton except to take profits. Take adj
vantage OF every break to buy as much as
you feel able to protect against adverse
fluctuations"
New York. Aug. 22.-The New York Sun
says Of cotton: Cotton declined to s
ppAhAaf tfAAiiGu anu dQNduGtu 2 10 3 Later
IL reacted, and declined to 6, clos
ing steady with sales of 4 800 bales
'To-day's features: The decline In Liv-
erpool to-day in the face OF the sharp
advance here yesterday, was a depressing
factor In to-day's speculation. At first
there was a slight decline but later Il
was recovered. and an advance followed.
The Chronicles weekly report was bullish.
and the south bought. In Mississippi
there was a slight precipitation but else
where in the cotton belt there was no
rain reported. Shorts covered and assist
ed the rise, however. before the prices
reacted again on realizing sales. and the
signal service prediction Of showers in
the cotton belt generally. There were two
unimpOrtant failures on the exchange
The failure Of a large cotton firm in Texas
had somewhat depressing on sentiment
here.