The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-12-19

have practically had fun sway for several
months. Traders in view of develop
ments In South Africa. expected some de-
cline in Liverpool and conceded a drop Of
several points here. Quite in accordance
with these ideas, prices went off to 6
points without excitement at the start in
sympathy with a 2-point loss in the Eng
fish market. But no sooner had the OPEN
ing passed than orders came from all
quarters TO sell cotton. not small o.s, but
great blocks, which had been held for
weeks by presumably strong dealers on
the theory that Scent cotton would lie
recorded before the New Year opening
Close upon the selling orders came re-
ports of financial difficulties In Wln
street The failure of the Produce Elk
change Trust Company. and of Henry Al
len q Co, were telling blows against the
bulls. heavy slump i'm New Orleans. a
rapid fall in Liverpool and rise in money
to rate equal to 1856 per cent caused
prices TO tumble at terrific rate
All the regulation news was discarded
and the one aim of all seemed to be to
get rid of enormous amounts of cotton
accumulated on the late protlacted rise.
AS compared with Saturdays close of 705
January fell perpendicularly to 690c;
March dropped from 1850 to 70lc. while
May went off 80 points TO 7O9c Houses
having extensive interests in stocks and
securities were the heaviest sellers, pre-
sumably for the purpose of better pro-
tectine interests on the Stock Exchange.
The South and the West were also large
sellers. Late in the day there was some
thing of a reaction on profit-taking by
shorts and quite new buying for parties
believing the market entitled to a decided
uplift. The close was fairly steady
with the present crop positions % TO %
points net lower. The far or new crop
months were but nine 10 ten points lower
Trading was by far the heaviest in several
years.
New York. Dec. Is, noon--Cotton futures
opened easy; December offered 725c: Jan
uary, 72lc; February, 726c; March, 1889
April. 73Sc; May and June. 74Oc; July,
7.41c; August, 7.S5c September, 701c; Oc-
tober 6,92c.
New York. Dec. IS, 4 p. MIXTURES clos
ed steady; December, csc; January, 701c ;
February. zO6c; March. 7.l2c; April, 715c
May, 719c; June, 72Oc; July. loo; August,
715C; September, 6.95c; October 6.S5c; No
vember 6.S0c.
Liverpool Dec. 49, p. m.-Cotton:
Spot dun prices 1-32d lower; American
middling fair, Esd; good middllng, Tied ;
middling, l1-32d; low middling, 5-32d /;
good ordinary, 3 31-S2d; ordinary, 25-32d
The sales Of the day were 5000 bales, of
which 500 were for speculation and export
and included 7,40O, American. Receipts
$500 bales, all American.
Futures opened easy and closed
weak at the decline; American middling
low mlddling clause; December. 0Sd
sellers; cember-January, 4.06d, sellers
January February, 4.O4d, buyers; Febru-
ry-March, 40264 ODD, sellers; March
April 4.O1d. buyers; April-May, 3.63dS sid
buyers; May-June, 3.62a3. SD. buyers;
June-July, 36ld, buyers; July-August,
S6Od. sellers; st-September, S57d,
sellers; Septem ber- October, $500, value
New Orleans, Dec. 1s.-Cotton futures
steady; December, 6s5c bid January. 6,S3
as sac; February, 6S5@6.S7c; March, $500
69Oc; April, 6.9l@692c; May, 1896 94c {;
June. 69546.97c; July, 6.97a6.99c; August,
6slG6 SIC; September, 6.65d6.7Oc; october,
b206 58c