The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-08-11
REVIEW OF THE MARKETS.
GENERAL CONDITION OFF TRADE
DURING THE PAST WEEK.

The Government Cotton Crop Report
Attracts Attention, Though the Lo-
cal Trade Attach Little ImpOr-
lance to 1.-THE Naval stores Mar
ket Not Very Active just Now.
Local and TeIegraphic Markets.
Morning News Office, Aug. 10.
The feature of the day in the local mar
kets was the receipt of the government
cotton crop report, which places the con-
dition of the crop to Aug l at $50,
against 1873 on July l. Few of the local
trade were able TO reconcile the report
with the fact that favorable weather has
prevailed throughout the belt during the
past month, and yet less than 2 per cent.
Improvement is shown by the govern
ment.
The departments report shows the av-
erage condition of cotton Aug ! to be
$50 as compared with 75S July l, 1860,
$40 Aug. /, 1899; 91.2 Aug. l. 1898, and S53
the mean of August averages for the last
ten years. The impairment of the condi-
ton is due mainly to the drought and lack
of cultivation. There are some sections
where heavy and continuous rains have
wrought serious injury. The average by
states is as follows:
Virginia, n; North Carolina, so; South
Carolina, "a Georgia. II; Florida, IA Ala
bama. 81; Mississippi, so; Louisiana, IT;
Texas, SO; Arkansas, So; Tennessee. II;
Missouri, 81; Oklahoma, 80; Indian Terri
tory. 81. The area of planted cotton
abandoned is somewhat less than gener-
ally reported.
While the official tone of both branches
of the naval stores market is firm, it may
be said there is a quiet undertone and
that the demand for both spirits and
rosin is not what factors would like to
have it. The price of spirits turpentine
yielded 12c during the week, the price on
last Friday being 40c and to-day 391sc
On Monday rosins went up sc on NJ; on
Tuesday another advance SC on l. K and
N, while on Thursday D and below went
up &c, 10c, f 10c, G Zoe and H 10c
Grades N and window glass went off sc
same day.
In speaking of the quiet markets large
buyer said to-day it was due 90 a lack
of foreign demand, due to the fact that
slump in foreign markets makes it pos
sible to buy there cheaper than here He
said there are ample offerings of foreign
and domestic freight room. and that the
only thing detrimental in this respect is
the stiffening in rates, which also makes
consumers backward about taking Just
now.
As previously stated, August receipts of
both turpentine and resins will have much
TO do with the price and the general con-
dition of che market The month is near
~ half gone, and the receipts so for have
shown up very full. In fact, there does
not seem to be much doubt but the cal
culations of buyers showing that the re
ceipts for August would probably he large
judging from the large receipts for July
which exceeded by 10 per cent. of the re-
ceipts for any previous July, will come
true. The receipts of turpentine the past
week were 10,027 casks, against 1928 last
year. The weeks receipts of resins were
1873. against 1855 last year.
Advices from the country confirm the
belief that August receipts will be large
and that the chances are favorable for
daily increase as the month progresses
The weather has been good for harvest
ing. Throughout the belt the hot wave
which now prevails has helped to keep
The gum flowing, and producers have had
all the hands they could engage at work
in the forests. 1t is said that the present
dizziness in the lumber trade has helped
naval stores producers 10 some extent in
getting labor, since many hands engaged
about saw mills and forests have been
released. What few were turned loose
were quickly taken by producers. whose
demands for labor will not be filled this
season, no matter how many men are
thrown out of employment.
The wholesale markets were steady
The following resume of the different
markets will show their tone and quota
lions and condition during the week: