The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-25

suited in a loss of sal points from the
top prices of the day. About the best
prices were secured on the opening can,
when the market showed gain of 2qi
points. Throughout the session. however.
The market was exceedingly nervous. To-
days liquidation was largely on Wall
street orders for the purpose OF releas-
ing cotton margins and taking advantage
of profits in cotton 10 protect holdings in
the stock market. In the afternoon the
market was very feverish and closed
steady at a net loss Of lq2 points
New York. Feb. A.-noon.--Cotton flu
lures opened steady; sales, 7.40O bales;
March. 6.OSe; April, 6.07c; May, Gle; June,
6.1Sc; July, 616c; August. 6l9c: September,
6.l7c; october and November, 6. Ice; Deem
Der, 6.19c.
New York. Feb. "a, p. m.-Cotton flu
lures closed steady; sales, POI 900 bales;
February, 5.99c: March, 600c; April, 6.03c;
May, 6.06c; June, 6.09c; July, 6 lie; August,
615c: September, clio; October, ellie; No
vember, Side; December. 6.17c.
New Orleans. La. Feb. 2i.-Cotton flu
lures steady; sales $1,000 bales: February,
nominal; March. 5.59a5. coo; April, $3.50
5.64c; May, 5.69@5.7Oc; June. 5.7sd5, 74c;
July. 5.7SG5.79c; August. $685. SIC; Sep
TENDER, 5.S4Q5 SEC; October $500 SIC; No
vember. 5.S505.S7c December, 5.sSQ5 soc:
January, 592c, bid.
New York. Feb. A.-Riordan & Co. say
Of cotton to-day: "In spite of very favora-
BILE foreign advices, the undertone of the
cotton market was weak to-day. This was
due TO the admittedly threatening aspect
OF our relations with Spain. Liverpool
was quite buyonant Instead Of declin-
ing as expected, prices there were par
tally one sixty-fourth higher at the time
OF our opening Under this stimulus prices
here opened two to four points higher.
Immediately after the opening a flood
of liquidation set in ana the market broke
quite sharply, Wall street was "a free sell
Ter. Stocks had a bad break and the SEN
timental effect on other speculative mar
kets was injurious. Liverpool sent heavy
buying orders here, however, and these
absorbed the offerings with the result of
checking the decline and causing tempo
rarily rally from the lowest figures.
1t was notice day on March contracts
and some notices were circulated. May
opened at GIG, broke to 6.C5c, rallied 10
$685. and closed at 6.06@6O7c, with the
tone of the market steady. The~situation
is decidedly a mixed one, but the bulls
seems confident"
Hubbard Brcs. & Co.'s Circular.
New York, Feb 24.-Hubbard Bros. q
Co, in their weekly review of the market.
say OF cotton:
Although the disaster In the harbor of
havana Is believed to be due to accidental
causes 1t undoubtedly brought about liuui-
cation by few holders who felt THAI
such course was the only conservative
one TO follow under conditions, which
though not probable, might lead TO hostilI-
Ties. AT the same moment the political
complication in West Africa between Eng
land ard France reacted upon the Liver-
pool market. sharp decline under these
conditions would not have surprised the
trade after the elimination of a large short
interest on the recent advance but no
weakness has been shown in any of the
markets. A reaction from the highest
point was expected and that is all thai has
occurred, conclusively showing that the
amount OF this crop absorbed by the con,
tinental and American spinners prevent
ca any great pressure to SELL
AS matter of fact The prices paid in
the south for spot cotton maintain the
southern markets well above the prices
ruling in this market or in Liverpool, due,
II IS reported, to the efforts of the South
ern buyers to fill the contracts they have
previously made for shipment 10 Europe.
IL rs curious position which Is presented
TO the trade OF large supply passing into
consumption without pressing upon the
markets and the only explanation which
can be offered Is that the demand from
splnners has been underestimate.
The threatened political complications
have checked the outside investment de-
mand. but have not caused liquidation by
those who have been such persistent buy
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