The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-04

what under 100000 bales. The new crop
Is making very promising start. and in
lle absence OF any authoritative estimate
tne acreage IS generally thought 10 De nOr
Tar from the area planted in 1S94. These
favorable prospects for the growing crop
prevent the fail and winter months from
participating much in the strength Of the
nearer months The important question
now IS whether this strength is. as the
oearlsn New York and other advices de-
care. arunclal. unnatural and rimsy. Cf
whether II is merely the precursor Of live
~ times 10 follow. II does not seem
worth while 10 attach much weight 20 the
olctum OF those who freely and unrea-
SOnably advised sales when the price was
over half cent lower. urging that there
was not and could not be any materiai
snort interest In the market There are
few considerations 10 note. In the firs5
place, II, as is now generally admitted,
even by the bears. there is a strong buli
combination in control, IL is evident THAI
the purpose Of the combination is 10 make
money In February prices were higher
lnan they are now, a month ago they
were only about 80 points lower and from
the low point of depression, when the
bears were in complete control. the al
vance Is only about CO points. II Is not
prooaole that the average cost Of the pre-
SuneQ neaNy line acquired by the bulls
Is much, II anything, below the present
ngure. They are not likely DESTROYS or
coming out even; in fact, considering the
acknowledged strength of the position
they might not unreaSOnably calculate
on prOnt of a cent a pound or more. As
there IS no kind of possibility that any
considerable quantity of short contracts
can be settled by delivery this side %
september, II is evident that the holders
viii have 10 settle by buying from the
bulls, who need not sell until they re-
celVe price to satisfy them. New York
cannot get much more from the south,
except at higher figures, as our mills need
most OF what remains, and exporters are
sun taking a noticeable amount. AIr.
lnman and the other bulls can easily put
up the price If they wish to, and we must
unaVOidably conclude that they do so
wish and so intend. In this process Vai-
liable assistance will be afforded by the
shorts themselves, when their present IN
clplent uneasiness grows into panic.
Wheat-The market has been weak,
markedly so the last two days. The de-
cline amounts to 3d3la cents, prices be-
ing now lower than for several months.
The leading causes were favorable wealth.
er, resulting in improved crop prospects
and large deliveries on May contracts.
Export inquiry light and stocks fail to re-
duce much But il is now the season
for sudden and surprising changes, and
the prudent investor may well pay some
attention to wheat. Patient holders can
hardly fail of their reward.
Provisions also cOntinu depressed. led
by pork late in the week. This article
lost So cents, ribs 171a cents, while lard
due to rather full receipts of hogs and
increasing stocks, although shipments of
meats from Chicago have been large There
was also some disposition to sympathize
with wheat. The decline has passed all
expectations. and prices are much lower
than they have been in seventeen years.
We ought now to be not very far from the
turning point, for the expectation of d
summer advance is by no means aban-
doned. William T. Williams.