The Savannah morning news., 1900-09-08
REVIEW OF THE MARKETS.
GENERAL CONDITION OF TRADE
DURING THE PAST WEEK.

Advances scored an several Lines,
Hut All the Gains Were Not Main
tained-TurpentIne Firm mt 3ah
Cents, with "A strong Demand ana
Good Outlook for Better Prices.
Resins steady ana Unchanged.
Local and TeIeErsphic Markets.
Morning News once. Sept I.
The week closing to-day has witnessed
improvements IN the markets. and par
ticulariy the cotton and naval stores mar
kets. Until to-day turpentine had been
dropping OF at a steady rate. due to con-
tinued liberal receipts and a scanty de-
mand BY an increase in the demand.
which apparently brought all buyers into
the market the downward tendency was
not only checked. but prices started in
the other direction. The opening to-day
was 8a3f4c the closing 3ii4c. and after
the closing Il was currently reported that
Is cents was being bid and paid. with an
other rush OF all hands," such as that
to-day. II seems possible the price OF tur-
pentine may advance by leaps.
During the past few days the cotton
market has teen characterized by an adj
vancing tendency. Sharp advances were
scored on two days in succession. A stone
wall was struck to-day. however. In the
shape OF unfavorable Liverpool advices,
ana the rumors that spinners had com
hined TO remain out Of the market pend
ing a decline In prices. AS a result, the
futures market dropped 1915 points. clos
ing weak ana unsettled. The spot market
refects a the advance In futures. going up
sis cent on Thursday. The drop to-day
in futures caus d decline Of Ills cent IN
local scots.
Developments during the week demon
strated that the turpentine market was
suffering from some cause which was hav-
ing a depressing effect on prices. Tho
price lost Friday was firm az 3iis cents.
and tos-lay 34isc. with indications OF
further hardening tendency.
The fact that there was little demand
Tor spirits from any source together with
the sus pension caused by the holiday on
Monday. restricted business considerably
As shown By the weeks transactions Adj
herring TO the belief that prices had not
struck bottom. buyers stuck to their pol
icy OF entering the market. only for stun
u it'll which 60 ill pressing orders. and IN
this way support the market as little
as possible.
The market occned with nothing do
ing" last Saturday. II was a day without
| incident with the trade. as there did not
seem 20 be any demand. and II any. buy
ers were withholding support by keeping
out This in addition TO the continued
liberal receipts. was sufficient with which
| TO put up q stiff hght. Tiesday's opening
was Arm AZ si cents. and Wednesdays
and Thursdays was unchanged
Resins held their own pretty well dur
/ Ing the week. though there was no spc-
cial demand for them. on Tuesday | and
above vert OF cents. and on the follow
/ ing day reacted 20 the prices from which
they declined. Soles for the week were
1854
what is attracting the attention OF the
/ trade most ~ present Is the
/ reported storm. The recent pros
poets for ore. according 70 the Wealth
~ Bureau reports. makes the trade feat
/ fui about the possible damage that would
surely follow blow through the Geor-
/ gla turpentinc belt. There does not seem
1 20 be any Doubt but the price will jump
to a good fgure n destructive storm
/ lessened the Yield. Hence tho trade
awaits with interest the outcome OF the
present predictions