The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-11-28
TRADE and FINANCE
v,RKETs CLOSE WITH FEW MA
TERIAL CHANGES.
COTTON BEING FIRMLY HELD.
ucHER PRICES LOOKED FOR ON
EtLLIsH GOVERNMENT REPORT.

Turpentine Firm at 35Ac, with
About All the Offerings Taken Nv
One Buyer, who Bid This for the
Eeceipts-Rosins Firm and I'm
changed-Exchange TO Close for
uThanI<sgiving-Loca and TeIe-
graphic Markets.
The Morning News Office,
Wednesday, Nov. q.
This was another uneventful day in
commercial circles, with no develop
ments calculated to cause ripple upon
neaceful waters. Cotton was about
the same at New York and spot mar
kets in the South were lifeless. The
country shows no disposition to recede
from it's position to hold for higher
urces, and notwithstanding the num-
erous bids made them around 1-16c be-
low the asked prices, this failed to in
duce any considerable business. While
there was a disposition among shorts
to close out contracts, this did not
have any great effect upon prices.
The Savannah f. o. b. market is af-
fected unfavorably just now by the
more attractive offerings at New Or
leans and also at Texas points. 1t is
said cotton may be bought in that ter
ritory at concessions on the asked
prices here that warrants leading ex-
Ierters in transferring their operations
to ether markets for the moment.
However, this may be the convictions
of many holders in the South Atlantic
LII A.e~Ex sFN
permitting what demand there is to
be filled elsewhere at present prices in
the hope of getting the benefit of a
possible rise later on. The government
document to come out Dec. is still
being generally discussed. Referring
TO it, the New York Evening Post says
in a recent issue:
THE movement of the crop shows
no change, and general trade conditions
in this country continue satisfactory.
Speculation appears to have simply
halted pending further Developments
and the publication of the governments
estimate on the. crop, which Will be
announced at noon on Dec. 3. This
estimate will give the indicated yield
of lint cotton per acre, and also or
the total crop. Its Importance is real
lied and appreciated by the cotton
trade generally this year, more so than
ever before, especially in view of the
great divergency of opinions and UNI
usually large difference in private crop
estimates. These have ranged from
9.S5O,000 bales to 11,250,000 bales mimi
mum, and the government is looked
upon this year as being able to fur
nish the only estimate of reliable
character to enlighten the trade as to
the probable actual yield Hence, 1t is
that speculation at present seems con-
fined principally to professional trad
ers,. and is at present mostly OF
scalping character.
Prices are up about S5 to 40 points
from the lowest quotations of three
weeks ago. and go points below the
hiqh level reached for the various OPP.
tions on Sept. A. when they sold at
about 3 25c for the December and Jam
nary deliveries. Meanwhile it is
worthy of note that the short interest
is still large, and that the bear ele-
ment and principal spot cotton inter-
ests seem to be inclined to resist the
continuance of the improving tendency
of the market and fill up the demand.
In observance of Thanksgiving the
Cotton Exchange, Board of Trade,
banks, and larger business houses VIII
close to-day.
The naval stores markets closed
firm, both spirits and rosins. spirits
closed at 35Ac, with factors receipts
for the day covered with a bid at this
figure. The following resume of the
markets will show their tone and quo
tations at the closing to-day: