The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-12
FURRY IN COTTON.
Lively Speculation in Futures ana
Great Excitement Prevailing.

New York, Aug. 1l.-AJ the Cotton Ex-
change to-day all was excitement. Buy
ing orders poured in from all directions.
Prices improved rapidly, after the mar
ket had opened steady at an advance OF
2Q6 points, and at one time values showed
a gain of 15q21 points on the figures or
the previous day. The Improvement was
finally arrested by proft-taking with some
selling for short account on the theory
that the upward movement had been too
rapid. The advance this week, having
been about u cent, led some conserva-
tive owners to part with their holdings;
but as a rule the bullish sentiment was
SO strong that no sooner had the longs
sold, than they showed an anxiety to gel
their holdings back again. The shorts
were badly scared less on account Of the
bad crop accounts from Texas than they
were by the bull contagion that appeared
to be spreading in all directions. To-days
buying represented orders from the grain
people, dry goods houses, foreigners
planters and cotton splnners. The result
was a larger volume of business than
has been transacted on the exchange in
any one day for months.
During the session the market made fire.
quent fluctuations, partly owing to the
efforts of the bears 10 break the upward
movement, but in the main, the course
of the market was evenly upward The
rise was stimulated in a great measure
by rapidly arriving English cables, all
reporting advances until II o'clock cables
had been announced the last one report
ing the net gain of six and one-half sixty
fourths.
In the afternoon the market became qui-
eter, and reacted several points under the
taking Of profits The close was very
ST. OF not frqt al s4gf-
New York, Aug II, noon-Cotton flu
lures opened steady at the advance; Au-
gust, 5.7Sc; September 5.8lc; October $500;
November 6.04c December, 6.09c; Janus
airy, 64c; February, 6.19c; March, G2lc;
April 6.25c; May, 629c; June 6.3Sc.
4 p. MIXTURES closed very steady; Au-
gust. 59lc; September, 593c; October,
61Oc; November, else; December, 62)c,
January, 624c: February. 6.27c; Marc1,
63lc; April, 6.34c; May, 63Sc; June, G41c.
New Orleans, Aug. 11.-Cotton futures
steady; August, 5.S0Q5.s1c; September. SIS
Q579c; October, 5,SOG5,s1c; November, 58f
lg585c; December. 5.8945 soc; January.
6.G2a6.04c; April, 6.06q6.0Sc; May 61O0
6.12c.
New York, Aug. Hubbard Bros &
Co., say Of cotton: Liverpool was nfuen-
Ced to-day by tire large buying orders from
the continent, from London and Alexan-
dria. Our market states the market was
heavily ovcrsold and that the trade was
opposed to the advance, Fighting The im-
proYement at each point TIE buying ~ The.
continental spinncrs was The marked fea
ture, which mainly contributed to the sup
port of prices.
Locally, our market has been the scene
at times of great excitement the quotation
at one lime showing an advance OF 1890
points over last evening.
The demand has come from Europe. and
the American spinueIs, while the old song
interest, which has been in the market
since last January, has been the main
source Of the supply. Good rains have
fallen in the Atlantic states, but none in
the Southwest, where the predictions are
for continued hot and dry weather Large
realizing caused a reaction, but The mar
ket closed steady 10 10 II points advance.
This. IL more than response 10 Liver
POOLS Improvement"