The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-12
REVIEW OF THE MARKETS
GENERAL CONDITION of TRADE
DURING THE PAST WEEK.

The Demand for Naval Stores Good.
Considerable stuff Being Applied
to May Contracts, But a SIOwness
Reported which May End In n
Squeeze-CottOn Market Unehang-
ed-LocaI and TeIeGrnphic Mar
kets.
Morning News Office May 1.-THE feat
ure of the markets during the past week
was the demand for naval stores, which it
is believed will be such as TO hold the level
of prices well up throughout May, judg-
ing from the fact that they have yielded
but little as compared with the condition
of the market this time last year. Up
wards of 1000 casks of turpentine, and over
5000 barrels of rosin were sold during the
week.
Factors find a natural disposition on the
part of producers not to ship stuff for the
filling of May contracts in the face of the
present price of turpentine. AS a general
thing producers apply by this time a con-
siderable portion of their shipments to
their contracts. but the tempting price
which has prevailed all along causes many
| to ship stuff to be put on the market. The
| evident intention is to get the difference
between from 40 TO AZ and 4S cents, the av-
erage contract price, and 4715, the prevail
ing price. A majority Of the shippers who
do not care to begin filling contracts yet
doubtless think they can sell at the mar
ket price with the probability of its de-
clining before the end of May, when they
can enter the market for shortages, and
thus come out winners in the end Judging
from the number who are waiting until
the end to fill contracts the chances are a
sufficient number will be in the market to
create a demand that will carry prices
skyward. leading factor said he would
not be surprised if the price the latter part
of May were to jump high, as he has no
| ticed an inclination among his CORE
spondents to delay the filling Of contracts
and says he understands the same thing
exists with those of other factors. Should
the price drop at the last days this policy
will, of course, be a paying one for pro-
ducers, but a demand such as Is promised
on the part of shorts, coupled with the
| prospective local and foreign demand, will
not tend very materially to weaken the
market 1t is understood that from 81, 00I
| to 80, 900 casks of spirits have been sold for
May delivery, and of the 1900 which have
been received so far this month 1t is said
about half was applied to contracts, the
balance being sold in the open market.
The receipts Ia May last year were approx
imately 5000 casks.
The cotton market closed quiet and I'M
changed, with practically nothing doing.
There were sales of about 1000 bales dur
ing the week, but the demand is light, and
will probably not be revived right off. The
fact Southern mills are pretty we'll sup
til into IttIt ~
demand from this source until after that
time. The most interest at present centers
In crop news, which the trade are watch
ing closely. The far-sseing are already
anticipating the extent of Savannah's cot
ton business next season, and many say
they believe the effect of the increased
terminal facilities will be to bring in the
neighborhood of 10000 bales of cotton to
this port next season.
The following resume of the different
markets will show the tone and quotations
at the close to-day, and their condition
during the week: