The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-07-07
REVIEW OF THE MARKETS.
CONDITION OF GENERAL TRADE
DURING The PAST WEEK.

Material Advances shown in Cotton,
Naval stores and other Leading
Lines - Cotton Futures Market
Again Going Skyward-Conditio
of the NavnI stores Crop-Local
and TeIcgraphic Markets.
Morning News Office, July 6.-There was
considerable activity during the past week
in both the local and outside markets,
which resulted in gains being scored all
around The cotton market moved up
ward in response to the strength shown in
New York futures. while naval stores also
gave evidence Of being in strong position.
Substantial gains were shown in the cot
ton futures market.
The tendency Of the cotton market to-
day was to advance, and the closing was
at net gain of and % points This was
due to the strong Liverpool cables, which
were received during the early part OF
the session. Considerable speculation
followed the advances, and the day closed
with moderate volume of business le-
ported. July closed at 10.10c, and August
at 972c.
The naval stores market has been well
maintained during the week, with the fea-
lures the advance scored in resins by rca-
son of the strength impaired owing to
lighter receipts, and the prospects of a
stll greater falling off later in the month.
Conditions have tended to maintain the
price of turpendne also.
The weather conditions in the crop belt
have been detrimental TO the harves ing
Of the product during the week. Factors
are beginning to figure on the drawback to
the crop as result Of the many disad-
vantages the industry has suffered THIS
season. and many are ready 10 believe the
yield this year will be considerably less
than was looked for. AS result of the
large amount of virgin lands opened carly
in the season it looked like this would be
the star season for naval stores, and that
the output would reach unprecedented flg-
ures Since the floods of the early part
of the season, the shortage of labor, ana
the more recent rains have got in their
work. the general opinion is that the eX-
pected big yield viii be cut down. one
large factor stated to-day that he did not
think this seasons output would exceed
that of last year per cent, unless there
is a very great change shortly for the bet
ter Indications point to light receipts
during the early part of July, as result
of unfavora BILE weather, but with improv-
ed conditions il is thought probable an in
crease will come the latter part OF the
month.
owing to the fact that much of the re-
ceipts of turpentine at this market are be-
| ing used in making deliveries the situation
| is necessarily without a great deal OF IN
terest Buyers have come to the front
| slowly. and were then unwilling to pay
the market prices, which left them at such
! variance with factors as to make business
! impossible Factors declined to accept
bids for less than quotations, ana ala hot
seem anxious TO sell even on this basis.
All seemed anxious to make deliveries
while the opportunity is good
The wholesale markets were steady ana
in the main, unchanged. The following re-
sume of the different markets will show
their tone and quotations at the close to-
day. and their condition during the week;