The Savannah morning news., 1901-01-27
COTTON LETTERS

New York, Jan. 26.-Murphy & Co. say:
Cotton in Liverpool, unchanged for spots;
middling, sgd; sales, only 1900. Futures
opened 1-64Q2-64d higher, reacted and
closed unchanged to a shade over yes
terday's closing. The Chronicle makes
the amount brought in sight since Sept.
l, 7,315,OO0 bales, against 6579,0 600 a year
ago. Northern spinners takings, 100000
bales, against $50 900 a year ago. Worlds
visible supply of all kinds, 4.250,000 bales,
against l.125,000 last year. Manchester,
quiet demand for yarns, and cloths poor.
Cotton in this market has ruled strong for
January delivery on free covering by
some short sales, although there have
been further sales of that position to-day,
against shipments from the South. Other
months ruling easier on longs selling.
January option made new record to-
day, advancing to 1O.25c. 1t is rumored
that one of the principal big short IN
terests had made private settlement yes
terday. This house was in a position to
deliver about 10000 bales, but 1t is ru-
mored that the bull crowd made private
settlement, rather than accept the cotton
Estimated port receipts, $4,000 bales,
against 1886 last year.
New. Orleans, Jan. 26.-H. & B. Beer
say: The course of Liverpool to-day was
a distinct disappointment to those who
New York might influence values favor
ably. Our market consequently opened 2
to points lower, declined slightly later,
owing to the free port and interior re-
ceiptS, closing at a net loss of 2 to
points on the day. Spots locally were
easier and lower, Notwithstanding quota
tions officially were unchanged. Holders
are eVidencing uneasiness as neither the
long expected perpendicular drop in the
movement, nor the brisk spot demand
expected materializes. Weeks of weary
waiting in the hope Of the realization of
these events, have Disguised the bulk of
operators who liquidated their specula-
tive interests. 1t is slowly but surely be-
ginning to dawn on the trade that indi-
cations point to the out-turn of the crop
being much larger than anticipated, and
that trade conditions are generally poor
as evidenced by the heavy accumulation
in the visible supply. Manipulation and the
existing discounts have deferred short sell
ling, and while values for the moment
are relatively steady in consequence the
probability is these features will ulti-
mately be a source of easiness.
New York, Jan. 26.-Hubbard Bro. &
Co., say: Cotton is being shipped to this
market from all the nearby points to
take advantage of the high price of jan
uary, coming not only from Norfolk
Savannah and Charleston, but being or
dered back from Fall River and Boston.
These shipments supplied the shorts at
the advancing quotations but the brok-
ers interested were not sellers. The gov
eminent of the crop keeps well up with
last year at a time when the receipts
were expected to fall off sharply. This
feature made the market easy outside
of the January pos ton, and exporters
report offerings frcm the South larger
than at any time during the past six
weeks. All interest centers in the jan
uary position as the parties long there
are believed to be short of the spring po-
sitions. The trade are badly mixed at
the outcome.