The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-11-25
FINANCIAL AND COMMERCIAL.
BuOYANCY AND STRENGTH SHOWN
IN SPOT COTTON MARKETS.

The Local spot Market Advances
cess Apparently In sight for the
Holders who Chung 60 Their Cot
ton During the Siump-spinnerx'
Hand-to-Mouth Policy I'm buying
BEING onset by Takings of Interior
nIIs Local ana TeIeEraphic
Markets.
The Morning News once
Saturday. Nov. a.
The developments Of the day In the cot
con market served 20 strengthen the be-
lief that the orderly manner In which
prices have moved up indicates that the
present level Is to be maintained. With
the prospects favorable for a further ma
terial advance. Savannah spots were
marked up i-iec aud the offerings from
the interior ruled firm at from 10 i-ioc TO
70 s-lsc, with holders showing no inclina-
ton 20 do business on other than their
own terms.
The general conditions pre-. ailing at
present IN the cotton market oner a
striking opportunity for holders 20 demon
strate 10 former holders the folly OF get
ting unduiy frightened az decline Tn
less all signs fail holders have IL In their
power TO control the situation with the
CLOCKS IN their hands. The slump a few
weeks ago unnerved practically all OF the
weak holders, who took fright at the
sharp declines and dumped cotton on the
market thereby feeding me movement
launched by the bears 10 hammer prices.
All THE present holders. or enough OF them
90 LARGELY influence the sentiment Of the
whole chung TO their cotton through the
trying days OF the slump when IL was
predicted by the bears taat prices would
decline 10 about last years figures and
stay there. While IL IS easier for prices TO
drop than 20 climb the recovery has been
rone the less rapid. and now that the rise
in spots has again crossed tho ten-cent
level Il may reasonably be expected 20
Eo higher before stopping
spirners have already fallen back on
their old tactics OF the hand-to-mouth pol-
icy iu an effort 10 stem the tide While
this policy has served them long they are
now confronted by conditions which may
compel them 20 change their tack IL they
hope 20 accomplish anything Ia the Tight.
Interior mills have been in the market
for cotton for some time az prices Tar
thereby increasing the demand which has
he.pel SO largely TO imrart strength TO
the spot market generally.
Tho palpable reason Of the mills for ac-
lively buying cotton al this time IS that
they believe the price S. goinr higher ana
that they can got better cotton at lower
prices by obtaining their supplies early.
A long a. the demand continues from mil
buyers the difference between tho amount
o. cotton taken under the present hand
to-mouth policy and that taken as here
tofore will be fully made up. This being
the case the hammerinR Of spinners will
probably AFFECT the market about tho
same MS water would a ducks back
With Nellrs guess. comparatively Hight
receipts and a hullish undertoue the out
look for the market IS encouraging to
holders Of cotton.
The spirits turpentine market closed
firm az 80 cents. with a good demand for
the offerings "a this price Resins closed
firm and unchanged. The wholesale
markets ruled steady ana active. Stocks
again moved with great irregularity, and
ir way that still conccals a bear move
ment II one has been launched. The fol-
owing resume OF the different markets
VIII show the tone ana quotations az the
closing to-day:
Local ana General Markets.
Local Cotton-Firm. i-iGc higher
stocks-Actiye and weak.
Money-Cal. steady per cent
Turpentine-Firm. 39c.
Rosins-Firm. unchanged
Corn-Deccmber. iac and November &c
higher
Wheat 49, Steady. December. ncdHo
higher
Oats-Unchauetd.
Provisions Unchanged 10 7isc higher
Cotton Seed Oll-Barely steady