The Savannah morning news., 1901-12-13
TRADE AND FINANCE
NO LIVERPOOL ADvICEs CAME To
MOVE THE AMERICAN MARKETS.
NEW YORK QUIET AND STEADY
BACKwARDNEss ABOUT OFFERING
COTTON IN THE INTERIOR.


OAerings-Rosins Firm and I'm
changed, with the Demand MOST
Iy for Lows-WhoIesaIe Markets
steadx-LocaI and TeIegraphic
Markets.
The Morning News Office,
Thursday, Dec. II.
In the absence of definite Liverpool
edvices on account of storm Interrupt
lions to the cable along the English
coast the American cotton markets
were uninteresting, with no positive
tendency to move either way. Ad-
vices were received in some quarters
by the way of Havre. but as nothing
oficial came the market failed to re-
spond to any large extent.
General sentiment continues bullish,
and until the numerous moderate crop
estimates are disproved, or spinners
enter the market actively for supplies,
a definite movement is not anticipated.
The country believes in higher prices,
and adhering to this they are dispos-
ing of as little of their holdings as
possible in the hope of getting in upon
q better basis later on. 1t is stated
that sentiment is crystallizing favora-
bic to the government estimate on the
other size. which may lead later to
active buying from there. Meantime,
none but the best prices bring cotton
from the interior. From the advices
received by Savannah brokers it seems
that bidding at concessions is useless,
as it is in exceptional cases that the
average bids bring out the cotton. On
the spot fair demand prevailed, with
factors sales running ahead of what
they have been for the past few days.
Commenting on the possibility of a
December squeeze the Coinmercial-Ad-
vertiser, New York, says: While there
was nothing to foreshadow a movement
on the part of December longs to make
trouble for current month shorts, the
meagre stock of certificated cotton here
now but 10000 bales-would natural
ly lead to suspicion that Squeeze"
of more or less Importance may yet
develop. New York is now in a much
more dangerous position than 1t was
last year (when the memorable jump
of 265 points in January in one hour
occurred) so far as supplies are con-
cerned. Cotton is now being added to
this stock at the rate of 1900 to 1,4O0
bales per day, which, unless increased,
means a total stock Dec. % of but
little over so, 900 bales and on Jan. %
of less than 100000 bales. Surely this
phase of the situation is well worth
watching, even should no unusual cir
cumstances develop.
Spirits of turpentine closed firm at
S5%c, with the demand good for the
entire offerings at this price. Spirits
are wanted by more than one exporter
just now. which accounts for the
strong undertone Of the market. Ros-
ms closed firm and unchanged, with
the demand particularly good for lows.
The wholesale markets closed steady,
with business satisfactory. The fol-
lowing resume of the markets win
show their tone and quotations at the
closing to-day:
COTTON.
Spot cotton closed steady and un-
changed to-day, with sales of 957 by
factors. The demand was fair, and the
trading mostly around the official
prices. Receipts were $500. against
$500 last year. In the F. o. B. market
the conditions which have character
lied the market for several days past
again prevailed, with the country back
ward about Offering. and very decided
in their views as to the future course
Of the market. Sentiment is bullish
everywhere. F. G. M. was sic to
SIC. and G. NJ. 3-16 to SIC. Cotton
futures at New York quiet and steady,
with prices to points higher
The following were the official spot
quotations at the close of the market
at the Cotton Exchange to-day: