The Savannah morning news., 1900-07-21


Lines Regarded as Satisfactory.
Cotton Futures Again on, and the
Unsettled Conditions Makes the
Outcome Uncertain-Rosins Strong
and ACKNOWLEDGEMENTS Turpentine
Apparently Wenk-Local and TeIe-
graphic Markets.
Morning News ONCE, July Co
The week in commercial circles has
been a satisfactory one in nearly all
branches of trade. As a general thing the
approach of the busy crop moving sea-
son is accompanied by a dullness in the
wholesale markets. but this does not seem
TO be the case this year. or at least there
is little complaint from any quarter. The
financial showing continues to be good
from every point of view.
Much interest was directed to the cot
ton market during the week. Being in
luenced by different conditions the range
was broad, and prices swung up and
down, without much warning 10 traders.
In some quarters the trade have quietly
decided to await more settled condition
of affairs, as an evidence OF which much
of the business in the futures market in
New York to-day was Withdrawals on
bo' h sides. The two great influences which
are affecting the movement of prices most
at present, the disquietude in China and
the condition of the cotton crop, are far
from being settled one way or the other,
which is cause for heSltancy on the part
of traders. Prices dropped yesterday and
again to-day, the closing being quiet and
steady vi prices net unchanged to 8
points lower
Attention is being directed to the condi-
ton of the sea island crop. It is said
mains, or the cotton raised on the
mainland, is not in the best condition,
and that the yield will not be up to what
was expected at the opening of the sea-
son. In South Carolina the crop is said
to have suffered. The damage was not so
great in Florida, however. On the islands
the crop is reported to be in prime con-
dition, and the outlook good for an album
dant yield.
A spirited demand during the early
days of the week and continued upward
tendency were the features of the naval
stores market. The advance in resins has
been well maintained, and promises to
hold against any ordinary unfavorable
tendency. With turpentine, however the
upward tendency came 10 a direct hall
to-day, when the market was posted
Nothing doing" The price reached 44h
cents at one time. with the indications
favorable for it's maintenance, but condi-
tons have since combined TO bring a check
in the demand.
The trade attributes the slack in the
demand to the fact that factors have been
making deliveries quite freely during the
week, which has tended to help buyers
out considerably. In fact, IL is stated
that what they have received has about
supplied their demands, without necessi-
tating their coming into the market for
anything. This being the case the nat
ural tendency was for the market to drag
which il has not failed to do. 1t is rough
ly estimated that about half of the de-
liveries to be made this month which are
said to be about 10000 casks. have already
been made. The Jacksonville factors who
sold short in this market are understood
to have covered to a considerable extent
during the week, and this also lessons the
demand. Futures are sold for Savannah
delivery only, which necessitates the Jack
sonville factors disposings of their stuff
there and buying in this market to cover
| contracts. This they do in preference 20
shipping stuff from there here.
Whether the price is to decline or to
rally and continue upward is matter of
great interest TO the trade everywhere
price will go higher. From the buyers
standpoint. however it has reached the
limit, and will henceforth drop 1t seems
there is not to be any immediate increase
in the receipts. and if this be true and is
coupled with reasonably fair demand
the price will hold its own, even if it does
not go higher.
Resins have been firm at the advance
throughout the week. Prices settled down
yesterday at the outside prices, and the
good demand is very encoura gng to the
trade. Recessions are not in sight in this
market
The cotton market closed quiet and I'M
changed to-day. The week did not bring
any special changes in the market The
weeks receipts were 1913 and the ex-
ports 1855. The receipts to-day were 614
| against / last year. The stock to-day is
| 1920 uplands, and AGO sea islands. The
| trade continues to direct much attention
TO crop reports, but the fact the reports
are greatly mixed coming from various
sections of the state, makes it next to i'm
possible to reconcile them so as to arrive
| at anything like a correct idea of condi-
| tons.