davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
Baxter and Co.'s cotton Letter.

New York, Dec. 10.-The market in
Liverpool was not such as to bring
in support here. The movement was
also against any bullish action. Every
thing goes to show that receipts are
large because of the very high price,
but this is discredited by the bears,
who pretend that there is plenty of
cotton still to be marketed. Profit
taking has been very extensive, and
vet the market has failed to develop
any of the weaknesses which should
have followed the advance established
by the bureau figures. Bears fail to
back their views by selling; in fact,
they seem to have little faith in their
own conclusions. The strong position
of the article is evidenced by the pro-
gramme of procrastination adopted by
the mill men in Charlotte, and the eX-
pectation is that no concerted action
will result. Prices opened lower and
at once recovered. In fact, the failure
to show worse results at the opening
caused great uneasiness to shorts, but
bearish cables soon afforded opportun-
ity to cover on a lower basis. The
market was quite unsettled and at
times very weak during the early ses-
sion. Interior receipts were on a large
scale and ports were $4,000, against
81, 900 last year. Cables lost to 8
points. Houston estimate for to-
morrow were large; spots in the South
were not making progress.
Estimates for tomorrow: Houston,
10000 to 1000, against 6,S15 last year;
New Orleans, 10000 to 11,000, against
1873; Galveston, 16,0 600 to $4,000, against
1887 last year.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
Ware & LeIard'A Cation Letter.

New York, Dec. 10.-All that can be
said about the present market is this:
1t acts just as it did between 12c and
IL Csc two weeks ago, and while the
market afterwards went up a cent and
a half, there are no tendencies at pres
ent that this advance is to be repeat
ed. Simply the market holds with
wonderful steadiness. The short SELL
ers hammer and hammer, but at the
end of it all there is no weakness. The
cotton all goes somewhere and is abb
Sorbed like a sponge. The long inter-
est is very large, and it must be re-
duced before there is another big adj
vance. The price is certainly high and
there are two sides to this market at
this level. We are not willing to eX-
press an opinion. We can only urge
the utmost caution as long as the mar
ket shows so much uncertainty. There
are no evidences yet that the crop is
10, 000 900 or 100000 bales. When re-
ceipts begin to fall, and there are no
longer doubts about the size of crop.
one can go ahead. The influence of
the government will be felt for some
time to come, and for this reason buy
ing for spinners around 12c is likely to
hold the market. Reports from spot
houses show that big business is be-
ing done on the break. We learned
this morning that one of the best post
ed and most reliable men in the South
places the utmost confidence in a mod
crate crop. His information is of the
best and it comedies with what has
been heard for weeks regarding the
crop. There is so much cotton held,
that we would be very cautions at the
moment, and take profits on any
bulgeS.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

sinister import, owing to the special
facilities Of information as to trads
conditions at that iron and steel cen.
ter. The weekly review by the lead.
ing authority in the trade was also re-
garded as decidedly unfavorable. owing
to the continued accumulation OF
stocks of pig iron notwithstanding Q
contraction in production in last two
months unprecedented for suddenness
and amount. The increase in accunlu-
lation is said to apply to the Southern
furnaces as well as the Northern. not
withstanding the heavy sales reported
in the Southern market. The exist
ence of a better current demand for
pig iron failed TO offset the effect Of
this unfavorable showing as did the
favorable report of the better tone OF
the market for structural steel. United
States Steel preferred ran off three
points in the final dealings, thus de-
Gliding the tone Of the market which
had been wavering and uncertain up
to that time. The furious speculation
in Brooklyn Transit continued, but
served rather to cause distrust than
to foster an advance, owing to lack
OF authoritative information OF any
Continued on Tenth Para
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
NEW ORLEANS COTTON MARKET.

New Orleans, Dec. 1O.-Spot cotton
quiet. There was good inquiry from
Eastern spinners, but they demand
concessions, which factors generally
refuse to make. The export demand
is limited; sales 210O bales, including
$50 to arrive; delivered on contracts,
800. Quotations reduced hc.
The futures market was nervous at
the opening, March and the more dis
tant positions being to 10 points above
yesterdays close. Throughout the
morning bull support was strong and
prominent longs, by heavy buying,
prevented the market for a time from
following New York and Liverpool in
their downward turns, but later they
withdrew and allowed the bears to
pull prices down. A gradual slump fol-
lowed, December losing II points, Jan
uary, IS; March, %; May and July, IA
each. Later there was a recovery on
the active months of 10 to II points,
the list at the close showing net gains
of l to 3 points.
Futures closed steady; December.
11.96Q11.9Sc; January, 12.O7@12.OSc; Feb
ruary, 12.22@12.24c; March, 12.37@12.SSc;
April, 12.43@12.45c; May, 1249@12.5Oc;
June, 12.53@12.55c; July, 12.57012. SEC.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
COTTON.

Spot cotton opened quiet, 1-16c off,
ruled quiet, 1-16c off at the MONDAY
call, sales, no bales, and closed quiet,
sales, 800 bales. The days sales, 971
bales. The demand was some bet
ter, due to the drop and the general
entrance of spinners for their sup
plies. One element of spinners were
waiting for the market to reach a low
er level, while others were in for all
the cotton they could get. They bought
with avidity. The days receipts were
1885 bales, against 1924 bales for the
same day last year.
In the f. o. b. market the demand
was good. A considerable business was
reported by some brokers, who dis
posed of cotton at the lower level. For
a time it looked like the country was
to go slow in the matter of concessions,
but it now seems that with lower
prices for day or so offerings will
steadily increase. The forenoon call at
the Cotton Exchange showed the mar
ket quiet at u 1-16c, and the closing
Il 1-16@12Ac.
The following were the official spot
quotations at the close of the market
at the Cotton Exchange to-day.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
NAVAL STORES.
Thursday. Dec, 10.

Thursday, Dec. 10.
TURPENTINE-Th turpentine mar
ket opened firm at SEC, sales, 1888 casks,
and closed firm and unchanged, sales,
no casks. The general report was the
demand was good, with the offerings
about cleaned up. While there was
no sales at higher level, the feeling
is more in favor of higher prices than
it has been for some time past, with
the disposition among the trade to put
the market up if it will stand a rise
at this time. The receipts, 474 casks,
and the exports, so casks.
ROSINS-The rosin market opened
firm, sales, 1856 barrels, and closed
firm and unchanged, sales, no barrels.
The demand was not as good as the
trade would like, and the understand
ing was that the closing did not find
the offerings all taken. The undertone
was rather quiet. Receipts, 1884 bar
rels. and the exports, 1880 barrels.
Prices as follows:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
STOCKS AND BONDS.

New York. Dec. 10.-The stock mar
ket made another struggle to-day
against the tendency to reaction, but
ultimately succumbed and yielded to
lower level. Net declines ran to be-
tween / and 2 points for many promi-
nent stocks.
An important influence In discourage
Ing the efforts to hold the market was
the heavy and persistent liquidation In
United States Steel preferred. The
fact that much OF this selling was at
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
MONEY MARKET.

New York. Dec. 10.-Money on call
firm, 41s per cent; closing bid, per
cent. /; offered, Az per cent. Time loans
quiet, so and 80 days. 8 per cent; six
months, 51s per cent. Prime mercan-
tile paper. per cent. Sterling ex-
change firm. with actual business In
bankers bills, at "a. 49, 25@4. SO. 35 for
demand and at $4.79. 75Q4.79. 80 for 60
days. Posted rates, "a. SO1s 604.S1 and
81 .S4m4.S4h. Commercial bills, $4.79s
"a. 1917. Mexican dollars. Ale.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
A. Norden & co... Cotton Letter.

New York. Dec. 10.-The markets
have to-day followed the usual course
of the last few days, starting with a
bad break I'm Liverpool, which, how
ever, did not have its full effect In
this market, where tremendous specu-
lative buying has again put prices
higher than last nights close. Looking
at the situation from legitimate
standpoint, the increase in the Interior
stocks and the probability Of consider
able curtailment OF consumption would
point 10 lower prices. and we are
therefore, rather disposed to favor
short sales, though We cannot ignore
the danger should the speculative fever
continue.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

Turpentine Firm at sec, With the
Demand of a Satisfactory Charac-
ter-ROsins Firm, With the de-
mand Light and the Offerings Not
Tnken-SpOt Cotton Quiet and in
Good Demand-LOcaI and TeIe-
graphic Markets.
The Morning News Office,
Thursday, Dec. 10.
The cotton market f1uctuated within
a comparatively narrow range to-day,
closing some lower, but with the bulls
apparently contesting all the ground
gained by the bears. AS the bulls re-
cede the interest as to the final out
turn increases, but with majority
believing that when the bulls again
prices up with rush.
One development of more than pass
ing interest in connection with the mar
ket of the past few days, has been
that it uncovered considerable cotton,
and that there is a good prospect of
more cotton being uncovered later on.
The country were extremely backward
sellers lot d WILLIE puI since the mar
ket has given signs of a lower tendency
holders appear more willing to take
the big profits coming to them on the
cotton they have been holding since
the price was around &c. Both on the
spot and in the f. o. b. market the
offerings were some better.
Turpentine closed firm at SEC, with
the demand fair, though not urgent
in any quarter. Resins closed firm.
The inquiry was moderate, and the Of
ferings were in part left on factors
hands. The wholesale markets closed
steady. Details of the different mar
kets as follows:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
LIVERPOOL COTTON MARKET.

Liverpool, Dec. 10.-Cotton: Spot,
moderate business done, prices points
lower; American middling fair, 6.S4d;
good middling, 6.6Sd middling, 6.5Sd;
low middling, 652d; good ordinary,
6.42d; ordinary, 6.22d. The sales of the
day were 1000 bales, of which 300 were
for speculation and export, and in
cluded $500 American: receipts, $4,000
bales, including $4,000, American.
Futures opened easier and closed
steady; American middling, good ordi-
nary clause: December, 6. 4Sd; Decem-
ber-January, 6. 1906. 46d; January Feb
ruary, 6.4O@6. Aid; February March,
6.39d; March-April, 6.3Sd; April May,
6.97d; May-June, 6.S6d; June-July, 6.34
Of. 35d; July-August, 6.32@6. 33d.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
PICKED UP ON 'CHANGE.

MIR. l.. M. LeHardy does not believe
the talk about the cotton mill with
It's stock of raw cotton bought cur
failing its output or closing down out
of sympathy for another mill that
did not buv when cotton was low.
There is no doubt a sympathetic feel
ing for the unfortunate mill. but IT
is not apparent why the mill, with
cotton should close. Mr.. LeHardy be-
heves it bad enough for those without
the raw stuff to close.
Mr.. G. E. Dickinson views the cur
failing by the mills as a possible So
luton of the problem of securing sup
plies of cotton. He believes the mills
can work together in a way to prevent
running the price of cotton up on
themselves. Whether they will do
this remains to be seen. For in
stance, if mills with cloth on hand
not to be applied to the filling of con-
tracts would let the mills with con-
tracts have the goods at reasonable
prices, it would keep the mills that
sold cloth short out of the market
for cotton, thereby giving the mar
ket a better chance to quiet down.
Whether the withdrawal of this de-
manu- "OOld ACSull adversely 10 the
market, would depend upon the num-
Der of mills to withdraw. The bulls
Contend that curtailment is not only
advisable among mills, but that the
supply of cotton is so short they must
curtail.
In one of the brokerage offices was
received bulletin, saying: New Or
leans says it is reported that King
Edward is dead" A little later came
another bulletin, saying: Reported
at Memphis that Emperor William is
dead" Whereupon the operator here
sent out bulletin: TT is reported in
Savannah that King Cotton is dead"
F. j. Fahey, New York, to Ware
& Leland: The Herald this morning
gives the views of Secretary Wilson
of the increased weight of bales, and
the deterioration of seed. They say:
The statement has been made re-
Gently in New York, that the de-
partment has raised the weight of the
statistical bales from 46S pounds
in 1901 to 400 in 1908, thus making a
difference in bales of about $4,000 in
the statistical report" That is all
there is in the rumor.
Said one firm: I'VE think profits
should be taken on long cotton as
advised yesterday. Look for market
to work lower"
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
DRY GOODS.

New York, Dec. 1O.-The dry goods
market has been quiet to-day, with
buyers operating only for immediate
necessities. The quotations which are
made are in some cases prohibitive,
but sellers are in every case treating
orders individually and are determined
to secure a profit on everything sold.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
FINANCIAL.

DOMESTIC n. Y. EXCHANGE
Buying &c discount.
Selling: ;25 and under. 10c premium;
SIS TO $50. f5c premium; $50 to 500, zoe
premium; 800 TO $780, Csc premium;
5000 and over, par.
FOREIGN EXCHANGE - Market
weak. Commercial demand, sterling,
s48l2b; sixty days. S4.s075; ninety
days, si7925; French. 5.22h Belgian
5.23: marks, sixty days, % s-l6;
ninety days, 93M.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
q. NoRDEN & CO.,

Cotton Exchange Building, New York.
Members New York Cotton Exchange,
New York Coffee Exchange.
New Orleans Cotton Exchange.
Liverpool Cotton Association.
Special attention paid and facilities
for accepting consignments OF cotton
as tenders on contracts at lowest pos
sible rates.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

Galveston-Steady; middling, II 1915;
net receipts, Is, 446; gross, 15,446; sales,
81; stock, 293,311. Exports-Great
Britain. TIA; coastwise, $50; CONT
nent, 1O1O0.
Norfolk-Dull; middling, 1918; net re-
ceipts, 1854; gross, 1854; sales, 1888;
stock, 1886. Exports-Coastwise, A.
237.
Baltimore-Nominal; middling, 1925;
gross receipts, 700; stock, 9,799.
Boston-Quiet; middling, 1873; gross
receipts, Al.
Wilmington-Dull; middling, u; net
receipts, $685.; gross, 1885; stock, a.
55S.
elphia-Quiet; middling, 1880;
net receipts, 10; gross. SO; stock, 2,2Ol.
Savannah-Quiet; middling, liz; net
receipts, 7035; gross, 1895; sales, SSO;
stock, 115.349,
New Orleans-Quiet; middling, 11B;
net receipts, 1887 gross, 1O,SS1; sales,
100; stock, 315, 1926.
Mobile-Easy; middling, 11% net re-
ceipts, 749; gross, 749; sales, 500; stock,
49, 01.
Memphis-steady; middling, 70; net
receipts, 1852; gross, 5,21S; sales, 1880;
stock, 9S,577.
~Augusta--Easy middling, 12h; net
receipts, LIPS; gross, 1,726; sales, 7SS;
stock. 1880.
arleston-steady; middling, 11%;
1901.
Cincinnati--Dul; middling, IL; net
receipts, 1G1S; gross, 1918; stock, 1901.
@Louisville-Firm; middling, 1926.
FSt. Louis-Quiet; middling, 12B; net
receipts, $50; gross, $3.50; sales, 2S3;
stock, l4.194
THouston-Quiet; middling, II 1916;
net receipts, 12,777; gross, 12,777; sales,
S0I; stock, 1910.
New York--Quiet; middling, 1925
gross receipts. 726; sales, 4,310; stock,
67767. EXports-Continent, 1872.
Port Townsend-Net receipts, 3,737;
gross, 3,737. Exports-Japan, 3,737.
Total To-day, at All Seaports-Net
receipts, 47,422; exports, Great Britain,
LH6; continent, 1912; Japan. S,7S7;
stock 913, 3O7.
Consolidated, at All Seaports-Net
receipts, 2S1,S6 exports, Great Brit
ain, 45,131. France. 15,S45; continent,
lO5.O97; Japan, $3.50.
Total Since Sept. l, at All Seaports-
Net receipts, 4,2S7 ,469; exports, Great
Britain, 1,255, 40; France, 453,456; con-
Iulnent, 1,250,4 Japan, 16,94S; Mexico.
Not included in totals.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

Charleston, S. c., Dec. 1O.-Turpen-
tine steady, 551sc. Rosin steady, A, B,
c, d, e, F, $40; G, $2.I5; II, SIPS;
/, SEAS; X, $2.7O; NJ, $3.50; N, $2.95; w.
G., 1915: w. W.. $3.40.
wilmington, N. c., Dec. 1O.-Spirits
turpentine firm, 55c; receipts, 1856. Rosin
nothing doing; receipts. 247. Tar firm,
81 20: receipts, SO. Crude turpentine
firm, 81 rs. $3.50 and $3.50; receipts. 26.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

New York, Dec. 10.-Spot cotton
closed quiet, Is points lower; middling
uplands, 12.25c; middling gulf, II Soc;
sales, 4.31O bales.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
HARRIS, GATES & co.
MEMBERS:

MEM BER5.
NEW YORK STOCK EXCHANGE.
NEW YORK COTTON EXCHANGE.
NEW YORK PRODUCE EXCHANGE
CHICAGO STOCK EXCHANGE.
CHICAGO BOARD OF TRADE.
NEW YORK COFFEE EXCHANGE.
COTTON DEPARTMENT 10 Wall St,
New York.
Orders solicited for Future Deliveries.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
SEA ISLAND COTTON.

The market closed fairly active and
Hrm. Quotations are higher. The crop
u now currently put at $4,000 bales.
receipts are falling off.
y Frlces about as follows:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
Savannah Bank
and Trust Go.
Capital, S35O,OOO.


"oSEfH ID. WEED, President.
JOHN c. ROWLAND, Vice President.
"M' +. McCAULEY, Cashier.
SAML' l.. CLAY, Assistant Cashier.
A general banking and exchange
business transacted.
savings Department., interest
computed quarterly.
accounts of merchants, banks
ana corporations solicited.
american xpress COmpany's let
'ers or credit issued available in all
parts of the world.
collections carefully made and
promptly accounted for.
safety Deposit Boxes and Storage
Vaults for rent.
Correspondence invited.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
Savannah and StateSbOrO R'y
Through Passenger Trains
Savannah to Statesboro

Ar. Savannah, Sunday only .....9 45am
Lv. Savannah, Sunday only. 45pm
Ar. Statesboro, Sunday only Us 00pm
Train leaving Statesboro 6:10 a. m.
daily except Sunday connects with s.
A. l.. Train II going west.
Another train connecting at Cuyler,
leaves Savannah 700 G M, arrive
Statesboro, 10 a. m. Leave Statesboro
.. M, arrive Savannah $3.50 p. m.
Shortest and Quickest Route
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

The following are the Savannah Cot
ton Exchange quotations:
Bank Stocks.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11
Cotton futures at New York. Dec. 10.
SPOT COTTON AT NEW YORK.

Futures opened steady, closed steady
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

Continued on Tenth Page.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

only.
connections made at terminal points
WSltn all trains Northwest. West and
Southwest.
g sleeping cars on night trains between
savannah and Augusta, Savannah ana
macon, Savannah and Atlanta.
dissection Drawing Room Buffet Cars
between Savannah and Birmingham
via Macon and Columbus.
Parlor cars on day trains between
savannah, Macon and Atlanta
For complete information, schedules.
rates and connections, apply to
W. G. BREWER, City Ticket and
Passenger Agent. LOT Bull street, or
w. r. McINTI RE. Depot Ticket
Agent.
J. c. HALLE, Gen. Pass. Agent
F. ]. ROBINSON, ASS. Gen1 Pass
Agent.
W. A. WINBURN, Vice President
and Traffic Manager.
THEO. D. KLINE, General Man'g'r,
Savannah. Ga.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

6ETWEEN SAVANNAH AND TY-
BEE.
trains arrive at and depart from
pyoee depot. Randolph street, foot OF
standard Goth meridian) time, one
nour slower than Savannah city time.
LEAVE SAVANNAH.
1900 a. m, $3.50 D. m.
LEAVE TYBEE.
~y:45 a, m s4,30 n m
The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-11

Said one firm: I'VE think profits
should be taken on long cotton as
advised yesterday. Look for market
to work lower"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-11-28
Trusts in Germany.

United States Consul Muench at Plauen.
Germany has reported to the State Depart
ment that pregnant question confronting
the German people Is that concerning the
regulation Of pools and trusts. 'The COM
mission appointed some time SINCE" says
he, flor the purpose Of gathering evidence
and recommending measures looking to
such control has been In session for a long
time and may at no distant date report
results and plans The syndicates and
trade combinations already formed In the
German empire are almost innumerable.
Those Of leading Importance are the coal
cartel iron cartel and sugar cartel. The
coal trust has just been more compactly
organized and its operations are not sert-
ously complained of. except by the middle
men, who are being rapidly eliminated.
OF iron trusts there are several, most OF
which have had a stormy time In holding
their members. whose prosperity Is seri-
ously threatened. not only through their
inability to further compete in the markets
OF the United States. but by the likelihood
o. a serious counter competition from that
quarter. The original sugar trust naturally
went out of existence with the taking effect
TENDER 1. 1903, and retail prices for tie
comsodity have sunk to something like a
reasonable figure. Strenuous efforts are
now being made by sugar mills and refin-
cries to arrive at some new plan of friendly
cooperation by which the diminished ia
yors still accorded to the industry under
the German law may be ratably divided be-
tween the two interests thus far without
known success