The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-03-21

prices at the opening were unchanged to
points higher, this being increased TO a
matter of TO points shortly after the
call Before the end of the first half hour
estimates for an increased CROP movement
commenced to pour in and the posting of
the Official weather bulletin showed eli
matte condition over The belt TO be gem
eraily favorable TO active aud widespread
plantation work.
together with these influences. rumors
were in circulation to the effect that South
efn spot markets were weakening under
an absence of buyers and urgent offerings
and that farmers were making every ef-
I fort 10 duplicate last years acreage.
The appearance of a few selling orders
from Wall street houses only was needed
TO start iiquidating movement the like
OF which has not been witnessed for sew
eral Years at least Prices melted away
in a most surprising way with the bull
crowd badly demoralized. Stop orders were
reached after the first ten-point drop, thus
releasing large blocks of cotton held by
outside investors. The bear faction pound
ed the market with might and main, be-
ing made confident by the successes scor-
ed during the past ten days. At the low
est figures a sheer loss of Is to q points
was in evidence. In the late afternoon
covering for profits caused rise equally
as rapidly as had been the break, al
though the reaction was less extensive. AT
the close steady feeling prevailed with
prices to IA points net below Saturdays
final prices. Around the bottom figures a
number of the staunch bulls We're seen to
be purchasing in a quiet way for a mark
ed reaction based on the belief that the
present large receipts will be followed by
a perpendicular falling off, and that the
acreage TO be planted will be a fall 20 per
cent. below that Of year ago.
New York March 20 noon.-Cotton fu-
lures opened steady; March, 6.C1c; April,
59Sc; May-June, 602c; JuIy-August, 6.05c,
September, 6.O0c; October, Sole; Novem-
Der, 6.00c; December, 6.03ci January, 6.06c.
Spot cotton closed quiet, 5sc lower; safes,
2525 bales.
4 p. MIXTURES closed steadys March,
5S5c; APRIL 5.S2c; May. 5.S6c; June Sole;
July, 5.95c; August, 5.95c; September Sole;
October, $500; November, 5.sSc; December.
593c; January, 5.95c.
New Orleans, March 20.-Cotton futures
steady; March. 5.54Q5.55e; April, 5.54G35 55e;
May, 55S45.59c; June. 5.6ld562c; July. 5.62
@5.63c; August, 5.59d5 Coo; September, $50
assoc; October, 5.56@557c; November, 5 j6
Q557c; December, 557Gg5 Sec.
New York, March 2O.-Hubbard Bros. &
Co. say OF cotton: Again the current
Of liquidation brought about by the heav-
ier receipts at the ports and interior towns
has swept over the investment demand
Liverpool orders to buy were in eviden e
during the first hour, taking large quaint
ties of the cotton thrown overheard by The
long interests.
I'VE estimate their purchases at fully
5000 bales, but when their market closed
the absence of a short interest to absorb
the offerings brought a period of grea,
weakness until a decline of 20 points from
the highest quotations of the morning was
recorded. From this point the market raj
lied, recovering half its decline in naif
an hour, as the conservative commission
houses who have held a.oof on the last
advance advised their customers 10 buy
and buy down from the present compare.
lively low prices The rally was sus.
tanned with sudden reaction to the close
which was steady with Liverpool broiz-
ers buying. Transactions to-day were the
heaviest for several weeks"