The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-17
REVIEW OF THE MARKETS.
CONDITION OF GENERAL TRADE
DURING THE PAST WEEK.

The Feature Was the Bank Clear
ings of S5,99z 10000, Which Rep
resents an Increase of S4,t3O,645.44
Over the Same Week of 1s99-Cot-
ton Closes at a Good Advance-Re-
ceipts of Cotton Heavy-NaYaI
stores Quiet-LocaI and Tcle-
graphic Markets.
Morning News Office, Feb. 16-An excel
lent showing has been made In every
branch of local trade during the past
week, and in many lines the improvement
is the record for many years past. The
city's oldest business men do not recall
a time when the bank elearings showed
such remarkable improvement in all lines
of business, and when other evidences of
prosperous times were more apparent than
they are at present. The clearings for
the week ending to-day Were $5ss7, 566,
against 81 sec 92O.56 for the correspondents
week of 1899, which represents an increase
this year of $4.130, 6i544 Savannah's clear
ings last week showed the largest per
cent. increase of any other American
city, and as the showing this week Is
much better, she doubtless still holds this
distinction.
While this increase represents the larg-
est for any one week in the records or
the clearing house, 1t is not surprising, in
view of the NUMEROUS causes which have
contributed to it, and which have been
mentioned before in the. Morning News.
The prices of all products are much higher
than they were last year. and there Is a
demand which quickly absorbs every sta
pie offered in the local markets. What
makes the clearing house showing the
more pleasing to local commercial inter-
ests is the fact that it is not a sudden
change, representing an improvement not
to be heard of again. On the contrary,
the showing follows gradual increases In
the figures from week to week, which
seems 20 indicate that the Improvement
is the substantial gain of steadily ex-
panding commerce.
The cotton market was the center of at
traction for local traders during the week.
1t advanced sharply, but toward the close
became more quiet, and, has for the past
two days closed unchanged. Present
prices show a great improvement over
those for last year, however. In some
quarters 1t is believed the advances of
the past two weeks have carried the mar
ket to top-notch prices and that there
is not a great deal of room for further
improvement. Whether this is so Is a
question, but the opinion is that most of
the interior cotton has changed hands,
and that higher prices now may not he
of great benefit to the farmers, since they
will have no cotton to offer. The local
receipts for the week We're good, being
about 10000 bales. The weeks receipts
brings the receipts for the season to with
in 100000 bales of the receipts for the same
period last year. s4@
Little interest has been shown in naval
stores during the week. due to the fact
that receipts have been hight, and there
being consequently nothing to offer. The
receipts of turpentine was only IT'S casks
and rosins 1921 barrels. Turpentine
showed signs of weakening the past tive
days, but closed firm at sac to-day, paid
and bid. The lower grades of resins went
up and closed at a fair advance. The de-
mand for rosins is reported to be salts
factory, but there is room for improve.
ment in disposing of spirits at quotations
The following resume of the different mar
kes will show the tone and quotations
at the close to-day and their condition
during the week: