The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-24
New York, Jan. 2S.-Cotton futures
opened quiet and steady, and closed
steady Prices as follows:
NEW ORLEANS FUTURES.
COTTON LETTERS


New York, Jan. 23.-Murphy & Co. say:
Cotton market in Liverpool was closed to-
day owing to the death of the Queen.
This market opened somewhat higher on
the near months, owing to some shorts
covering, but late months were unchanged
to shade lower on Southern selling.
Since opening, the tone has been rather
feverish on longs and shorts liquideting.
1t is a waiting market, pending the elm
ination of the January option and further
insight in regard to the crop, If receipts
fab off, improvement is looked for II
was estimated that notices were issued
on about 5000 bales of January contracts,
the bulk of which was stocked by the
bull house, who was supposed to be heav-
lily long in this option. There is appar-
emily quite a large short interest yet to
be covered in January, and what the next
few days will develop in this option is
rather puzzhng to predict. Various ru-
mors are In circulation of big shipments
coming to this market from New Orleans,
Texas and Savannah Estimated port re-
ceipts, $4,000, against 1888 last year.
New York, Jan. 23.-Hubbard Bros. <
Co., say: With the Liverpool market
closed the American markets have been
left to their own initiative As Manches-
ter has been the principal supporter of
the market for the past months, the trade
was not disposed to enter into any fresh
engagements until it is known what effect,
if any, viii result in English commercial
circles from the death of the Queen.
Orening a shade lower, the market slowly
rallied to the closing quotations of yes
terday. The movement continues full, es-
pecially at the semi-weekly interior
towns, and somewhat more disposition is
shown by interior holders to sell. Locally
the liquidation of the January interest
continues without great fluctuations, the
holders appearing willing to sell on steady
markets, but only supplying the demand.
This covering demand gives the market
its principal support.
New Orleans, Jan. 23.-H. & b. Beer
say: Owing to the Queens death the
Liverpool Exchange was closed to-day.
Our market however, opened l to points
lower, declined 3 to additional on re-
ceipts being freer than expected, and the
easiness existing in spots. Subsequently
shorts covering ran prices up to from
the bottom, making the net gain from
to 2 points on the day. The semi-weekly
receipts at the thirteen leading interior
towns were $4,000 this year, against 1900
last year. The interior stocks have not
diminished but on the contrary. are being
augmented from week to week, demon
strating the lack of export demand nee
essary to bring into sight These thir
teen towns hold $685. 600 this year, against
$40, 600 last year. and $4,000 in the 1,125,-
OCO-crop year. In other words, a defcien-
cy of $50, 600 under last year, which existed
on Sept /, has been wiped out and an
excess of 5000 over last year established,
while the excess over the record crop IS
los COO or % per cent. over that year.
Holders are getting nervous and are COM
mencing to think they have underesti-
mated the crop, and it is natural that
they should become more uneasy the near
er we approach the next planting season.