The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-01-11
TRADE AND FINANCE
Gales or ROsTSs FEATURE
OF LOCAL MARKETS
AVER 1000 BARRELS SOLD
COTTON MARKET QUIET AT A
FO DECLINE or lie CENT.

o.inc TO the Mouer
V"' sales on the Spot Were
ou-Turpentine Firm at 3Gc,
No Success in Efforts to Force
1oyer LevcI-New York stocks
.uIar. but showing Tendon
.o Improve at the Close--Locai
I'd TeIcgraphic Markets.
The Morning News Office,
Thursday. Jan. 10.
-. ,oyer level of prices in the rosin
brought out about all the stocks
7 tors hands, the sales to-day being
~, ,orrels the largest for any one day
-,,rv weeks past With the exception
49, ..i,o, class the market is quoted al
,,. nrices. and is understood to be
... firm at the inside figures.
me turpentine market resisted further
..-..sfon. closing firm at Sec, with the
,.a..r5 moderate and nominal business
49,, transacted. Efforts to get in at a
.. basis than the market failed, and
~. fss,irs toward the closing was favor
o,s 10 The official price
NV. cotton market closed quiet at de-
.o Of 1-l6c on all grades. Owing to the
-,+bsr light demand no great amount OF
,,.i,sss WAS transacted on the spot, the
a,,,l sales being 81 bales While there
-. inouiry for cotton from the interior,
i ,bo fact that good middiing could not be
generally had for less than 15-16c put
4 ,hs basis above what exporters as a rule
mare willing to pay. r'he cotton futures
...rlet ruled quiet durug the early hours,
but sufened later on forecasts Of tighter
ra,sipts at Houston and New Orleans, ana
,osed ouiet and steady at an advance Of
to points.
rnrone did not follow the New York de-
cline of Yesterday, say Hubbard Bros. &
ca but the movement at the interior
towns was larger than expected, causing
our market 20 decline some to s points.
A reaction from the sharp decline OF two
DAVIS was ia order, and when the estimate
nj New Orleans was received the room
traders quickly bought, bringing an ad-
vance of 10 points. January notices were
Il issued on a small scale, and can be eX-
4 uected to be issued every day as commits
& sion houses put their cotton in shape for
delivery. Rumors were current of a large
slpmsnt frcm Texas for delivery which
could not be confirmed. The temper of
i the trade was not so buliish as was shown
by the early selling but the quick change
showed they still prefer to adopt the pol
icy Of buying on declines. The Bombay
movement was very large, receipts being
5000 bales larger than last year, and
shipments 5000 bales greater.
The Liverpool market was little lower
than expected Murphy & Co. say, futures
there being 3-6id to 5-64d under last night,
with spots l-16d lower. The New York
market has been dull and featureless,
fluctuations confined within range of 6
to points. Trading continued confined
principally to locals. The outside pubic
are more interested in activity of stock
and grain markets than cotton. Receipts
continue comparatively free, and many
conservative people think that prices have
seen their highest point. However, spot
hc,ders are persistent in their demand
for higher figures Cotton in the mean
time is accumulating, and the demand is
decreasing. Estimated port receipts $500,
Against 1900 New Orleans expects TO-
morrow $500 to 450O, against 1856 last
year; Houston 1900 to $3.50, against 5000
last year.
The New York stock market showed
backwardness in some quarters of the
list though in others advances CORE
spending 10 the losses were scored. That
Inc depression was due to liquidation and
Diner accompaniments of a reaction was
Indicated by the ease in money, cali loans
oslhg 80 per cent, with the last loan at
q per cent. Louisville and Nashville ad-
'aAceo on The announcement of a semi
annual dividend of 2i5 per cent. on it's
COMMON stock. The following resume of
mt inherent markets will show their tone
and quotations az the Closing to-day: