The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-12-14

ket for futures opened higher and closed
lower was regarded as evidence of inner
ent weakness IN connection with the with
drawal of spot buyers At the same time,
receipts in this country ovcrran the eX-
pectauons Of conservative estimates, and
adVices from Southern spot markets indi-
Gated a hesitation on the part of the buy
ers under prediction OF renewed full move
ment of cotton at the ports and the inte-
ror.
The market opened steady at a decline
OF 102 points. and further declined sal
points, after which there was a partial
recovery Notwithstanding considerab BILE
hammering on the part of local bears,
who tried to break the market still further
IN order TO stampede some of the larger
longs. At the weakest interval some good
parties were buying cotton, a considera-
bic part of which was said to be for wall
street account.
The upward subsequent movement was
assisted by reports Of extremely cold
weather headed for the cotton belt ana
claims OF returned firmness in Southern
spot markets The market was also re-
assured by favorable reports from the
dry goods centers and from New England
spinning districts, based on claims Of in
creased prosperity throughout the coun-
try at large, and a consequent depletion
VI HitStiit lil Ae SNotkS OF cOIfOn goods.
The phases of the market in the after
noon We're generally uninteresting, with
the tone finally steady at a net decline OF
sac points.
New York. Dec. 10, noon.-Cotton fu-
lures opened steady; December, S.5ec:
January, $500; February. 555c; March,
559c; April, 5.59c; May soc; June. 5.67c
July. 5.70c; August, 5Ec; October, arc.
p. MIXTURES closed steady; Deem
haV r 49, 2 ~
March. 5.5Sc; April, 5,57c May. 5.6Oc; June,
5.6Sc; July, 566c; August 5,7Oc; September,
5G5c; October. sec.
New Orleans. Dec. 13.-Cotton futures
barely steady; December, 5.05c; January,
5Md5. 0Sc; February, 513d514c: March.
517a5.1Sc; Aprll, 5.22d5.24c; May, 5 276
5.2Sc; June, 531d5 33c; July. 5.S6d5. CSC
August 5.SSc September 5.SOc bid: Octo-
ber 532c bid.
New York Dec. 1S.-Paine, Murphy e.
Co say of cotton to-day: Early foreign
cables showed weakening condition of sf-
fairs in the foreign markets. which was re-
Elected in our market, the opening being a
shade easier and al declines OF from 10
4 points compared with last nights closing
figures. There was considerable realizing
during the day which caused a gradual de-
cline of from to points for the day, the
closing being near the bottom. After an
advance of 40 to 50 points, as in the pres
ent case, there should be some moderate
reactions as holders are not inclined to
overcarry themselves after the extreme
low prices of late. Receipts continue fair
ly liberal in view of the fact that picking
has practically been at a standsun for
some time in the southwestern part OF the
belt owing to bad weather, which has been
the severest in years, alternating between
rain. sleet and snow In addition to this
the tempera ture has been so low that pick
ing has not been energetcally prosecuted
when other conditions were favorable to It.
1t Is estimated that fully Is per cent. Of the
crop in that section Is still in the fields and
under prevailing conditions will not be
picked"
New York, Dec. 13.-Hubbard Bros. g.
Co. say of cotton to-day: "Our cables
give several explanations for the weak
ness abroad in face of the improvement
here yesterday. One states the recent ma
nipulations were attempting TO sell on ac-
count of the falling off In the demand
from Manchester, and another that large
Southern offerings affected prices, and an
other that the market acted tired on the
absence Of outside buyers. Whatever the
reason, Liverpool certainly did not show
the strength we looked for, ana our mar
ket has been quiet and declining all day.
Resisting orders on the basis of 560c for
May and 5.70c for August, prevented any
sharp break. January was relatively
weaker, as the covering by the shorts left
by the longs, without the anxious demand
of the past two weeks. The commission
houses tried to sustain the quotations 10
attract cotton. We believe the short in
terest to have greatly reduced in every
market during the past month. To this
extent the position is weaker"