The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-17
TRADE AND FINANCE
.orroN FUTURES MARKET CLOSES
AT THE ADVANCE.
PRICES JUMP IL TO 16 POINTS
rvoRs OUT THAT NELL is TO
ISSUE A BULLIsH REPORT.

o.itb the Rise in Futures Spots Also
ADVANCE, and Trading Was Brisk.
s-onnah Spot Up 1-10c-spirits
,7osier Toward the CIOsing-ROsins
,,irm-Stocks Irregular at the De-
line - Local and TeIegraphic
Markets.
The Morning News Office,
Wednesday, Jan. 16.
TIE advance of y TO 16 points in the
...tor futures market to-day was attrib-
,,.ab,e largely to the firmer tone of spots.
,n3ob was in turn brought about. by an
,,,oroyed demand and forecasts for light
=, receipts. Rumors of an early bull
.,ro,i,ar from Crop Expert Neil also
,oo,rted strength to the market. Sa-
,.,nrah spots advanced 1-16c, with the
fsa,irg decidedly better and transactions
IN satisfactory volume. The belief pre-
rais in local quarters that splnners may
soon enter the market for considerable
sunplies. and as the interior holders be-
vave the same the reports caused them
f., assume holder front in holding for
higher prices.
The bulls were in complete control of
the New York market from start to fin
isb Prices showed the effect of better
liverpool advices early in the day. and
after the preliminary advance other news
developed which was calcula ted 70 give
the market a firmer tone. Whether the
report that Neill is to promulgate bull
ish circular is true or not a reIo.t bear
ing prima facie evidence of its truth is
sufficient warning for spinners to pre-
mare for business, and incidentally, for
shorts to cover for rise in prices.
Liverpool was expected to come lower
to-day in response tos the weakness here
Yesterday, say Murphy & Co. The advices
of 4-64d advance after the opening there,
coupled with orders to buy from the con-
tinent caused the New York market TO
open points higher and further advance
about points on ia her general buying
10th 10 cover and for new account, de-
sptte freer receipts and expectation of
liberal offerings from holders of spot
cotton in the South. Liverpool closed at
a net advance of to AZ points. The
New York market closed firm with prices
Y to IS points above last nights close.
Estimated port receipts $1,000 against A.,
600 last year. New Orleans expects to-mor-
row $500 to 1000 against 1897 last year,
Houston 0,0UU TO O,OOU against 0,0Jl.
Liverpool rallied sharply from the weak
closing of yesterday on the report that
the mon h y circular of Messrs. Neil Bro
Tiers Of London, would be bullish on the
basis Of a crop of nine and three quar-
oasis Of crop Of g. i5G, 900 bales say Hub
bard Bros. & Co. The New York
market advanced in response to these
favorable advices from abroad in face of
the free movement at the ports and in
terror towns. Local traders were the
principal buyers, locking for a reaction
from the sharp decline since Friday TAX
ing the Southern offerings which were
larger than expected. With the strength
Of the foreign markets Januarys were
neglected, being without trading by the
hokers. Identified with the holders
shorts covered generally and the market
rel9psed into du lness. Outside buying did
not appear, though the local trade look
for q better market abroad tomorrow.
The spirits turpentine market ruled firm
most Of the day. with a good demand at
the quotation. Toward the closing an
easier feeling developed, however. and it
was said a part of the offerings were
carried over. Resins closed firm, with a
good demand for the offerings.
Activity prevail ed in New York stocks
though the general tendency was to de-
cline. At one time prices moved up
cutie generally, but near the closing sharp
declines were made, with the closing be-
low y,steruay's prices. The following
resume of the different markets will show
the tone and quotations at the closing
to-day.