The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-01-16
TRADE AND FINANCE
ro> BRACES Up AND CLOSES AT
tUi THE ADVANCE.
pe11sR DEMAND FOR EXPORT.
ms AT NEW YORK FIRM AT
p uIsE OF TO 10 POINTS.

,,;rv for Spot Cotton, With
"a" Of over 1000 BaIes-The
airy Not willing to Sell Mt
.Drah Prices-FOund the Int
paving More fn Some Sections
;na the DaH-Turpentine Firm
,d,ance 10 3SMc-LOcal and
roIerrnphic Markets.
The Morning News Office,
Wednesday, Jan. Is.
.., Grmer tone of the cotton mar
~. was the feature of to-day's COM
m.iol developments. On the strength
,,.tod bv A. better demand from ex-
tors and also for speculative ac-
Va. futures at New York moved up
" and towards the closing the mar
..+ developed pronounced strength,
ing firm at an advance of to 10
iots Spots we're on the whole very
,dv with considerable business be-
dane savannah factors sold over
,.oo baIos. In the country the feel
~, was decidedly bullish, SO much so,
=. r,,t that it was difficult to trade
NTH exuorters. Interior buyers seemed
.uIinp to pay more than was bid at
ho ports. which tended to restrict bus
moss here. The movement gave some
evidence to-day of a possible decrease
,,ortlv which had it's effect in bracing
the market.
Turnentine closed firm, with the de-
nand strong, and the market in the
hest Of position. The opening was firm
al %lc and the closing at SS1sc. Ros-
ms also closed firm and unchanged,
With the demand very satisfactory.
The wholesale markets closed steady.
referring to the recent estimate of
p T. Wilson & Co. and its effect upon
tbe cotton market the New York Even
ing Post has this to say: THE market
was influenced in the early trading,
hoth AT Liverpool and on this side, by
an estimate issued by r. T. Wilson &
TO. making the outcome of the pres
emf crop 1856 900 bales. This estimate
has been prospectively on the market
since the upward turn of the latter part
Of last week. and in a large measure,
explains the heavy buying by outside
interests. which rescued the market
from a weak and possibly lower range
of value at that time. 1t has induced
support from various sources, and is
now responsible to a. great extent for
better feeling covering the situation
than has prevailed for some time past,
and to some extent has offset the ef-
feet of the heavy movement of cotton
to market and the large increase in
the worlds visible supply, which have
been the causes of the recent depres-
sion in values. Coming from such a
source and so late in the season, even
though the exact figures of this esti-
mate be not accepted universally, they
are likely to cause serious reflection
on the subject, and if upheld by a
marked reduction in the volume of cot
ton coming to market will aid in Sc
curing better price for the staple.
The statement means, for one thing,
that. whereas, last Friday night, 7,10O,-
400 bales had been marketed from this
crop, only 400, 900 bales, approximate
~ remain in uncounted positions and
in farmers hands, as against 3,450, 900
on the same date last year. This is a
startling proposition, and even If not
absolutely correct, will go far towards
reassuring the cotton world, in view of
The present excess of thes worlds Wis
ible supply over last year of 400,0
bales from a speculative standpoint
and its effect upon the nearby course
Of the market, it will probably be re-
garded as premature, unless substar-
tiated by facts of a most convinving
character. This. ait least, is the pres
ent temper of the trade"
The following resume of the markets
VIII show their their tone and quota
lions at the closing to-day: