The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-06-02
REVIEW OF THE MARKETS.
CONDITION or GENERAL TRADE
DURING THE PAST WEEK.

the Operations of Bears-Sptrits
Turpentine Declining, the Price
Now Deing 47h Cehts-outIook for
Further Declines shortly - Rosin
Firm and Unchnnged-Local and
TeIegraphic Markets.
Morning News Office, June There was
another decline in the cotton futures mar
ket to-day. due in the main to the con-
tnued selling by the South. The bear
clement apparently have full sway at
present, and while improvement was
shown for time, it was short lived, and
the closing showed declines In proportion
to the losses of the past few days. What
is interesting the trade to large degree
at present, Is the question whether spin
ners will enter the market during the
early days of next month, 1t being pretty
generally agreed that they are supplied
with cotton up to that time. Amy de-
mand from this source Will, of course,
tend to help the market but if splnners
are Indifferent, sharp declines may be
looked for
The close of the week in the naval
stores market brought some surprises,
particularly in the price of spirits turpen-
tine, which went on sharply the last day
instead of stffening as was expected.
This is regarded as an evidence of the
wisdom producers showed In applying
shipments to the filing of their contracts
early in the month, thereby obviating the
possibility of the squeeze usually expert
| enced on account of the failure to do
this. While 1t was not downward ten
dency, the rosn market too went off, ut
was firm at the decline, with fair de-
mand for offerings.
The promptness of producers In booking
after their contracts early was a source
of pleasure to factors, many of whom
complained during the early part of the
| month, that there was a backwardness In
applying shipments to contracts, which
| led them to fear squeeze at the end.
The fact that the first of the four months
| for which futures are sold has passed so
successfully for producers and factors
| alike, is an indication that the same policy
| will be followed in June. July and Au-
| gust, so that any advances at the tail.
| end will not catch many in the wet.
The weather during most of the week
| was favorable for the harvesting of naval
stores, and the probe bility is that it
| viii be good throughout June, judging
| from the time winter fingered in the lap
come, 1t may be what they call a ''hot
wave" The volume of receipts at the
4 ports, including this port shows that
| considerable work has been done on farms.
| Again the Standard OIL is in the market,
| buying turpentine in large quantities. II
was the support the market got from the
| Standards taking, which maintained val
! ues on Monday, when the opening was
| steady at 49c and with every indication
| that she closing would witness a decline
| To make up its shortages, the company
| entered the market for a good lot. which
at once had the effect of impartine
strength to the situation, and resisting the
downward tendency which was threat
ened. There is much conjecture
as to the amount the company
will take, or whether it is to become a
| regular factor in the market. According
/ to its representatives. its recent talNings
were its last, they being bought only
| to supply shortages caused by the floods,
and the consequent tieing up Of loaded
tank cars in Southern Alabama II
would seem that there is to be a steady
demand from this source. at least when
the company is unable to satisfy its de-
mand in the interior.
| The withdrawal of the Standard towards
| the closing of the week left things i'm a
dead condition and after opening steady at
40 cents on Thursday, the price dropped
| firm to 4Sc, at the closing. This day last
year. turpentine was firm at 80 cents The
| closing to-day was steady at 47hc.
! No changes of importance were reported
| IN the minor markets, most of which were
| firm ard active. There IS a fair demand
| for all the early stuff, which is now find
| ing its way to the market. The following
resume of the different markets will show
the tone and quotations at the closing to-
day, and their condition during the week: