The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-02

Liverpool, May 1.-Cotton: SHOT, mod
crate business; prices barely supported:
American middling, sgd. The sales of
the day were 5000 bales, of which 500 were
for speculation and export and included
7,7O0 American; receipts, $500 bales, in
GLIDING $500 American.
p. mixtures opened quiet and
closed steady at the decline; American
middling, low middling clause: May, sgd.
sellers; May-June. 1896. god, sellers
June-July, sid, sellers; July-August. a1f
.15d, sellers; August-Septembe 5.O5U
5000, sellers; September-October, 449d.
sellers; October-November, BID, buyers
ACKNOWLEDGEMENTS 4.32d sellers; De
cember-January, 4.30d sellers; January
February, 4.2sd, sellers; February March,
4.27q4 Esd, sellers.
New Orleans, May 1.-Cotton futures
quiet.
May ...........9.sO October ......7. ss6s 90
June ............ 8. 80 November -. s50l7 Sc
July ........9. 29d9. 80 December ~. s5G17. Sc
August ."..903d9.W January III s6@7. SS
September .S354S.26
COTTON LETTERS.
New York. May 1.--Price, Mccormick &
Co., in their circular issued to-day, say:
The stock at all the United States ports
Is reduced this evening to 10000 bales,
against 10000 on April q, or net loss of
100000 bales in ten days, allowing 60000
bales on shipboard not cleared, and 40 900
bales overestimated in the New York
stock, the net stock is reduced to about
10000 bales. These figures are the small
est on record since 1890. when cotton s1ld
| at 1294c per pound. The present consump-
| ton is 80 per cent. greater than It was in
| 1890
The bears here are valnly selling paper
contracts in effort to force the Southern
holders of this sman remnant of cotton to
part with 1t at a decline in values. but
their operations cannot have any very pro-
nounced effect as long as those who hold
the actual cotton recognize the unprece-
dented strength of the situation. (Slgned)
Price, Mccormick & Co.-ad.
New York. May Hubbard Bros e. Co
say: Advices from Liverpool were distinct
ly disappointing, as none looked for de-
cline from the quotations Of yesterday
Our cables state the demand from Ian
cashire spinners was not sufficient to sus-
tain values in face of the discounts to be
encountered as each month of the season
was reached, and that merchants reither
rendered cotton nor delivery yesterday
for that reason. After the opening prices
slowly declined on the disappointing adj
vices and the prospect of good weather
over the cotton belt. With the trade de-
mand receding In Manchester and the be-
lief that American spinners have supplied
themselves the market is left depende mt up
on bad weather advices or attempted ma
nipu1ation in consequence, OF small stocks
in jobbers' hands in all the large markets.
In our Judgment, crop advices will govern
prices.
New York, May MURPHY & Co. say:
Liverpool unchanged on spots. sales 5000.
Futures opened unchanged, and closed to
2-G4d below yesterday, and 1-64d
lower on new crop, which was poorer than
expected. This market opened 3 10 6
points lower and ruled easy for a time,
owing 10 liquidating sales, but became
steadier on shorts covering and q little
new buying. The weather South improv-
ing, and temperature is higher. A con-
tinuance OF the most favorable conditions
is necessary this month to enable planters
10 put In a full average. New Orleans re-
ceipts for tomorrow are expected to be
large 1900 to 5000 bales. Houston receipts
continue quite small, being under 100 bales.
This market will be governed by daily re-
ports from the belt. If favorable II will
attract selling. Shorts will cover quickly
and take the bull side II any unfavorable
conditions develop indicating a smaller
acreage than last year.