The Savannah morning news., 1901-02-02
REVIEW OF MARKETS
,,rtoN OF GENERAL TRADE
nrRING TIE PAST WEEK,
0ISE IN COTTON THE FEATURE,
ors NOT AFFECTED BY THE
FURRY IN JANUARY.

r.ir Demand Prevailed, Though
~ large Amount of Trading Was
,n.--COnsIderabIe Cotton Being
,,.Id for Ten Cents-Spirits Tur-
tine shows n Declining Ten
- Though Firmer Toward the
closing ROsins Firm at Slight
o..ions-LocaI and TeIeGraphic
MARKETS.
The Morning News Office,
FSiday, Feb. 1.
n-oeks have been more eventful in
49, cotton trade than the one closing to-
,. The developments have been en-
..,[1,. of 4 speculative character, however
-. have contributed nothing more than
..,,ror,rv confusion to the spot markets.
sao,s scarcely responded to the furry
January. brought on by the corner in
,-,t ontion. which eliminated in a sheer
r,sc Of 25J points.
THE range of prices in the local spot
.-..rl,ct during the week was narrow and
,....i,ees was on a small scale. There
,.se some demand but it was not enough
ID, keen trading moving at very brisk
maze so that the week closes without
.uy great amount of cotton changing
hands SPOT sales aggregate $3.50 bales.
,ra, offerings from the interior for fob.
.,,nments were in fair volume, and sat-
i-factory business was reported. Trad
ing was not very active in either the spot
fob markets however
There seems to be considerable cotton
IN both Georgia and the Caroiinas, which
Will be marketed when the price approach
,- nearer to 10 cents. A representative OF
Daniel O'Den & Co., New York, who has
inst returned from a six weeks trip in
the Carolinas and Georgia, has this to
say:
Il found the farmers in a more prosper
Gus condition than they have ever been;
they are better clothed and better fed, and
even the poorer ones in North Carolina
VINO have been heretofore making cotton
with steers are buying mules. and ~
some instances l saw negroes buying Dug
ges and harness, so that their families
could drive to church.
AS 10 the quantity of cotton held back,
] Was unable to get figures for COMPARE
son with previous years at majority of
the small towns, but judging from 20 or
81 farms which | visited personally in the
three states named I feel safe in saying
that there is more cotton held by farmers
than ever before at this date. In one sec
ION Of North Carolina l visited twelve
farmers one of whom had sold his entire
crop Of 100 bales, another had not sold
bale aud had his entire crop of Y bales
on his farm, while the remaining ten,
Who were smaller farmers, had from 20
to 45 per cent. of their cotton at home.
1T viii be remembered that the worst
crop reports came from South Carolina
last summer. l failed to find an individ-
ual case where a farmer made less cotton
th, year than last. Those farmers who
sold some early in the season received 10
cents and above, and they are holding
what they now have in the firm belief that
they will get at least 10 cents for it. In
many instances l referred them to the
quotations for March and May cotton in
New York. which were below 91a cents,
but they were all agreed in their opinion
that When these options are near expira ton
they would have to go up to the spot
prices, which they confidently believe will
not be less than 10 cents this summer.
1T is too early to form any definite
ldea as to the quantity of fertilizers that
will be used, but there are more mules
being sold to farmers than ever before,
and they are bringing very high prices.
! saw small cotton mules sold in York
vile, S. c.. for $275 pair. 1 found that
formers are planting more small grain
Imam usual and are more inclined to raise
everything they need at home, making
cotton a surplus crop. The county news.
papers are advocating this plan, and it is
being gradually adopted throughout the
states | visited.
Many farmers complain of the scarcity
OF labor on account of the whites emigrat-
ms to cotton mill towns, while the blacks
are finding employment in mines lumber
camps, etc. In fact, in one or two local-
les the labor question this spring will
be quite serious one, and may prevent
a large expansion in the acreage, which
Otherwise would undoubtedly occur"
fair business was done in the naval
stores markets. Spirits turpentine showed
wedding tendency. Resins dropped as
10 the lower grades OH Wednesday. but
otherwise the situation was firm and the
venand for supplies satisfactory. The
iVhoWlng resume of the markets will
snow the tone and quotations at the close
today and their condition during the
week: