The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-27

advance of to points. further advanced
lQ4 points, and then turned easier. clos
ING steady at net advance of ld3 points.
Inc early firmness was the result of bet
Ter cables than had been expected. For a
TIME shorts were anxious to cover and
sellers We're scarce Generally favora bic
crop accounts and the absence of outside
speculative support led to liquidation, and
the market turned quite weak losing most
OF the advance.
New York, June 26, noon.-Cotton flu
lures opened quiet and firm; sales. $500
pales; January, 6.S8c; February. 69lc;
Marcn, b.y6c; June, 6.1Sc; July 723e: Au-
gust HZoc; September, 1O4c; October, 6.S5c;
November, 6.Slc; December 6.S4c.
New York, June IS, l p. MIXTURES
closed steady: sales. %. 400 bales; January,
6e8c; February, 6.S9c; March, $3.50; June,
l.24c; July, T24c; August, 1880; September.
I0Sc; October, 6.S4c; November, $500; De-
cember, 6.S3c
New Orleans. La, June 26.-Cotton flu
lures dull; sales. $500 bales; June and
July, 74lc bid; August, L09G7.l0c; Septem-
Der 672q673c; October, 6.54a655c; Novem.
ber' 6.56q6.57c; December. 6.5S96 Sc; jan
March, 6.6S@670c
New York, June 26.-Riordan & Co. say
of cotton: The strong statistical position
mas grown stronger. The large spot sales
in Liverpool and the good spot demand
here has continued, and there has been
no change in the cheerfulness of the gem
eral business outlook during this week.
yet the cotton market has almost exactly
reversed its course of the week previous,
and the great Improvement in the crop
prospects then ignored, has outweighed as
an influence upon the market these fact
ors which were the all important contrib
utors to the advance then. The healthy
aspect of the market was still present
early in the week. but the government s
splendid crop bulletin of last Tuesday, fol-
lowed by the weakness of Liverpool when
that market reopened after the jubilee
holidays, took all the heart out of the
bulls, and prices have surely, but slowly
receded To-day the market was very
dull. Liverpool was steady and I'M
changed. The Chronicles report on the
crop was good, but some complaints of
too dry weather were noted. Our market
opened to 5 points higher Good rains
were reported in the dry section. and
prices eased again. August opened at 7.27c,
advanced to 72Sc, declined to 1890 and
closed at 1890 to 724c, with the tone of
the market steady.
The trading during the week has been
very light and largely local In spite Of
this and the loss in values, the bullish
sentiment here continues undated. The
fear of a repetition of last season s
drought is ever present to deter short
selling. The lesson taught to those who
sold the market on magnificent June pros
poets by the great rise last summer is
not easily forgotten. The exceeding slim
ness and rapid diminution on stocks every
where; the certainty that no fresh sup
plies of moment can be received at early
dates, and the possibility of crop scares
or real crop damage coupled with the
reasonable prices at which cotton is now
selling, all tend to make bun ventures
most attractive. Many converts to this
way of thinking have been made. But the
cold fact is present that with a fair sea-
son the south will make a monster crop
of cotton. There is no general speculation
to help the market up. The reports now
being received from the fields are as
favorable as can be, and we think that if
the prospects continue, it will for the
present, prove profitable to sell the mar
ket on all good bulges'