The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-09-01
REVIEW OF THE MARKETS.
CONDITION or GENERAL TRADE
DURING THE PAST WEEK.

DURING THE PAST WEEK.
The Close Of the Cotton Year brings
satisfactory showinE-BanE
CleRrtnRs show Halt million
Increase over Last Year-spirits
Turpentine Closes at 34lsc BId ana
sac Asked-RosinS Firm and Tn
chRnged-LocaI and TeIeEraphic
Markets.
Morning News once, Aug. 81.
The close OF the cotton year was under
the most suspicious circumstances. While
savannah's gross receipts were i.oel So.
against i.ioi.t5i last year. and the net
i.oss,so7. agalns l.oas.eiO last year. which
shows a decrease for this year. as com
pared with last. IL Is nevertheless true
that the showing surpasses oil others in
the per cent. OF increase. The shortage
in this years crop. which is estimated
so be anywhere from $4,000 TO 100000
bales. against i.lSs.9 O5 lass year. accounts
for the volume showing up less than that
Of last year. Last years movement OF
cotton was the largest In the history OF
American commerce. The trade was gen
orally satisfied with the seasons show
ing. and feel sure It will compare fav-
orably with that OF any other cotton-re-
ceiving port. The sales OF cotton for
the season just closed were S8.Ss2 bales.
which does not include the large T. o. b.
business transacted. For the week end
ing to-day the sales were 1872 bales.
The bank clearings for the week show
an increase over the same week last
year OF about half-million dollars. The
clearings were s2.ss7.ss.l5. against s2.S6l.-
1851 Tor the corresponding week last
[ year.
General attention is being attracted 20
The downward tendency IN the turpentine
market which has dropped far below the
point q was expected Il would 20. Much
conjecture Is going the rounds. aud the
tenor OF the talk Is that che market mas
not yet reached bottom. That this belief
Is fairly weli-founded appears from the
fact declines have followed closely. and
conditions do not seem 10 have improved.
so far as support for the market is con-
cerned
The hope was expressed on lnst Friday
that the price would probably not 40
much below 36c al which the market
seemed firm. The downward tendency so
I firmly established however. has had the
I effect OF causing buyers TO hesitate about
entering the market, and this backward
ness on their part, together with the light
domestic demand has helped TO send the
price lower. With the object OF giving
/ the present tendency fun sweep. domestic
consumers have for several days past
been supplying only their urgent needs
helping as little as possible TO contribute
10 a recuperative demand. Exporters also
steered shy Of the market. and on two
| days OF the week were not to be seen on
the street at all. II will be seen. there
I for. that market conditions were helped
I largely in depressing prices by the con-
slant hammering Of buyers.
The main hope for q rally Is In the pros
pective demand from domestic sources II
this springs up It will enable factors to
dispose OF any accumulations, and there
I by impart strength 10 the situation.
| without a demand from this or some
other source IL is very probable other de-
clines will follow. and that the losses will
go far beyond present expectations. In
discussing the situation factors are free
] to say they believe a demand and not a
| lessening in the receipts viii be the force
10 check che decline.
This August has been one OF the most
1 remarkable ! nthe history OF che trade,
l the weather having been admirable for
| Handicapped by lack Of farm labor. but
I sull receipts run far beyond expectations.
There does not seem TO be any improve
mcnf in conditions to-day. The price Is
3gibc bid and 35c asked The market Is
quiet. but firm. Factors believe the price
is low enough. but they have n fight be-
I fore them 10 convince buyers Of this.
| Until they do the demand may continue
on the "hand-so-mouth" order
The same story applies 90 the rosin mar
! ket for che week-a declining tendency
| and smnil demand The market showed
some strength during the early days. but
| later there were declines which have been
| followed by others. causing the closing 20
/ be under last weeks closing. Factors
| we're slow to make concessions. and in
/ some cases did not do so except when
they had The privilege OF disposing OF
round lot "a one time. Otherwise they
| held firmly.
The following resume Of the different
| markets will show the tone and quota
| ttrwa at he closing t0-dnV.