The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-04
THE MORNING NEWS: SATURDAY. SEPTEMBER T. 1897

end of October, January had recovered TO
S-11c. while Savannah was still 7sc.
Awaiting the result of the election, the
market continued fiuctua ting moderately,
with a general feeling that further i'm
prOvement would follow the success of the
sound money ticket
The day after the election the market
did open a few points higher, January
selling as high as s.25c in the morning.
but either the result had already been
discounted or the wrong effect had been
expected. for the price fell to 1870 the
same day, and that was the last of high
prices. BY Nov. "a January had fallen to
7.42c, and March was 7.55c. Middling in
Savannah was 67sc.
A little reaction of about &c came by
Dec. l, March rising to 7.SOc, but the de-
cline was then resumed, and between the
Christmas and New Year holidays, on
Dec. 2S, March. in New York. had fallen
to 6S5c and Savannah TO 6 7-16c.
About this time the trade had concluded
that the crop would reach 100000 10
$500 900 bales, and that all would be re-
quired to meet the needs of consumption
AS far as that went, it would tend TO sus-
tain prices if not to raise them, but also
by this time the advance talk of the new
crop had begun to exercise a perceptible
influence. The heavy sales of fertilizers
and other evidences OF intention 20 in
crease the acreage caused an apprehension
tIdt tilt next crop WOulQ pass all IGCOTOS,
and this fear served to keep the market
down. Hence little upturn which started
during the holidays and which was due
mostly to the smaller movement and
strong statistical position, was checked by
Jan. 8, when March reached about Use.
Savannah was 13-16c. Liverpool LIED
From THIS point there was a gradual de-
cline until the middle of February, when
March was about 6.6Oc. Savannah, csc;
Liverpool, 25-32d; May in New York was
6.73c.
A change In feeling occurred about this
time, due mostly to less brilliant outlook
for the new acreage, chiefly on the severe
western overflows. Before the end of
February New York had recovered more
than 50 points, May reaching 7.27c, and
Savannah was &c. From this came a
pretty sharp reaction. and on March
May was $500, August 7c, Savannah 624c.
Moderate fluctuations followed until the
latter part of April, when the backward
ness of the season throughout the south
renewed the uneasiness about the new
crops start, and by April 80 August had
risen to 7.55c. Savannah was 73sc, and
Liverpool AID.
From this time on the changes in the
Savannah market were inconsiderable the
business was light, as stocks had been
much reduced; hence on May "a, when
August had reacted to 7.09c, Savannah
was still quoted 73sc
The varying fortunes of the new crop
now eXerted the leading influence, sup
plemented by fears of manipulation of the
old crop months, as stocks everywhere
were aOidly decreasing and the new crop
was deemed sure to be a late one.
BY about July l, August was again 7.50c
July u it was 7.31c. July Is back to 755c.
1t continued fiuctuating thus until toward
the latter part of August, when a turn of
the screws on the shorts caused a sharp
advance, the price reaching S.15c on Aug.
%.
After reactlng below Sc, August was
again put up by manipulation and the
closing quotation was $500 asked. In Sa-
vannah middling closed at &c and in Liv-
erpool at 4lkd.
With regard to prices for the new crop
deliveries. fluctuations were unusually
small The first sales of October and No
vember in December, 1896, were around
&c. After sundry moderate changes No
vember was &c on April 80 but had fallen
to 6.65c by the latter part of May. BY
the first part of July November had re-
covered to TIC. and continued around
these prices until the latter part of July
and into August. Some weakness set in
about the middle of August and low point
was reached Aug. 10, when November
reached 6.61c. week after 1t was once
more over &c.
During the last few days of the year, the
new crop months ruled weaker despite the
manipulations of August. November, after
advancing to near 710c, fell back about
30 points and closed at 6.Tc. The average
price of November since the opening In
December will not fall much below &c,
which shows a remarkably small fiuctua-
ton.