The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-11
Hubbard Bros. & Co.'s review.

New York, Feb. 10.-Hubbard Bros. g.
CO., in their weekly market circular, say
of cotton: AT the end of the week Liver
pool became uneasy at the small supplies
they were receiving from America from
an enormous crop and advanced sharply
taking the entire trade by surprise. AS we
have before pointed out, the continental
spinners and those of America have taken
q larger proportion of cotton up to the LIST
of February than in any other year and
the good demand for yarns and cloths In
Manchester has been filled by accepting or
ders without the acquisition of the raw
material. An attempt to rectify this posi-
ton has naturally caused an advance in
Liverpool but it Is regarded by the trade
as merely a passing event, without being
worthy of serious consideration, as 1t in
no way alters the question Of The supply,
which is now believed TO be II 900, 900 bales
and fully 100000 bales in excess of the act
ual consumption of the world. In fact the
trade believes that this Improvement has
come at a time when 1t will stimulate
planters to raise as much cotton as they
can and the prospective reduction in acre.
age is therefore not TO be considered in the
futures as ANY advance now, would simply
Danish theidea Of the necessity of reduce
ton from the minds of planters. With this
idea they have not bought any cotton, in
fact we believe there are fewer men in the
cotton trade who own cotton to-day than
at any time during the past three years.
They consider that another crop of IL co.,
600 bales would carry prices TO a level that
would bring disaster to all and holding this
impression they are not willing to be long
of the market.
Many reports have been received from
sections of Texas, the Mississippi valley
and Louisiana which lead them to believe
that the acreage will be as large as last
season. Acting upon these reports they
have parted with their cotton on this adj
vance. They believe that the advance will
stimulate the movement OF the CROP and
that the increase in receipts will show
Manchester that there is mope than enough
cotton and that this furry will soon pass
away leaving the market in weaker con-
dition through the covering OF a short in
terest which had probably become I'M
wieldy.
There are a few. however, who think
that the prices received for this seasons
crop are sufficient warning to the planter
that another crop of such magnitude must
be marketed at a correspond ng decline and
that he will be governed by his own inter-
ests rather than by the wishes of those
who consider that the production OF cot
ton is entered into by the farmer without
due consideration Of the question of sup
ply and the probable return which ne will
derive from his crop when 1t comes 20 be
marketed They believe that
experience has shown the mer-
chants and farmers that the pros
perity OF the South depends upon raising
their own food supplies and such a crop
OF cotton as will produce the greatest re-
turns in cash. and that they VIII be gov
erned by an eye to their own interests rath-
er than by the theory that there is no 9TH
er crop they can raise, and therefore they
win produce all the cotton which lies with
In their power. Many Of our friends In the
South hold the contrary view; and to sup