The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-09

New York, Dec S.-Rlordan & Co. say
of cotton: "The receipts to-day were
pretty full, and Liverpool was lower but
our market in the forenoon was fairly
steady, with little change in prices In
the afternoon the large receipts expected
al New Orleans tomorrow caused break
in values stop orders were reached and
a heavy liquidation set IN. The sales Of
January were especially large and prices
rapidly yielded. 1t was in vain that
brokers told each other that there was
no valid reason for the slump, and that
cotton had gone low enough. The SELL
ing orders came pouring in and the cot
ton was ruHhlessly slaughtered. March,
which had opened at 745c and rallied to
7.4Sc, was sold down to IS2c. In the final
trading there was a slight rally. The
close was steady, with 7Sic bid for March.
Unless Liverpool should come to the res
cue Tomorrow it is toab be feared that
there may be a renewal Of the liquidation,
with the inevitable result of still lower
prices"
New York. Dec. S.--The Sun says of cot
ton: spot cotton declined here 1sc, with
sales of 1876 bales for spinning 2,20O bales
were delivered on contract Middling up
lands was 7-l6c, against 9-l6c last year
Weak longs sold out their holdings to-
day, depressing prices sharply The dis
appointing Liverpool advices started the
decline, and on selling for local, southern
and Liverpool account prices rapidly re-
coded. Stop orders were reached on the
way down, accelerating the decline. There
was nothing in the statistical news to
justify the decline. The receipts at the
ports and the interior towns were mod
crate, and the total al the ports this week
II is estimated, will be no larger than last
week, the total now being estimated at
100000 bales The quantity to come into
sight is estimated by New Orleans at S50,-
600 bales, against $4,000 bales last week
The dullness of spot cotton in this coun-
try and unfavorable sadvices from Fall
River were depressing Factors"
New York, Dec SWAT Silsby & Co.
say of cotton: Prices were easiey IN the
Liverpool spot market at the opening
this morning, and futures opened quiet
at a decline of about points under yes
terdays closing prices, and closed steady
at the opening figures. Our market opened
points under yesterdays close and ruled
steady during the first hour, when selling
by Liverpool and New Orleans gave the
market a downward start, this was taken
up by the German bear element, together
with the room traders, and the decline
was continued throughout the entire ses-
sion, causing a loss OF II points at the
close and a gross loss of Is points for the
lowest. The continued large receipts seem
to satisfy the foreign trauefs tuat our
crop will greatly exceed even the largest
estimate, and for this reason they allowed
several large stop orders to be caught this
afternoon which furthered aided the de-
cline. Some of our most persistent bulls
acknowledge that &c cotton Is in sight
unless a material decrease in receipts is
shown during the next few days The
market continues panicky, and opinion is
very much divided this afternoon. We ex-
pect to see an advance at the opening, but
the market may sag off Immediately after
wards, on the estimated increase in re-
ceipts"