The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-30
WANT MORE MONEY
FARMERS HAVE STORED THEIR
COTTON FOR TWELVE CENTS.
SALES FOR FUTURE DELIVERY
ARE BECOMING FEWER AND
FEWER EVERY DAY.

Large Receipts at Ports Now Is Re-
suit of Sales of Factors in In
terror, who Were Caught with
Much Cotton on Hand When Slump
Came, Closing Ont ms Soon rs
They Are Even-Farmers Have
Banked Their Receipts and Put
Selling Orders at IL Cents.
Georgia farmers are now holding out
for twelve-cent cotton and the flurries
in the market for the past week has In
no wise excited them.
Mr.. Julian Clarke of Albany was in
the city yesterday and said that all
through the state planters had stored
their cotton and placed selling orders
at twelve cents, and the cotton that is
now coming into the ports are lots that
are being sold by the cotton firms in the
interior towns who are taking advan-
tage of the rise in the market to unload
what they were able to pick up during
the depression some time ago.
Heavy Port Receipts no Indication.
Savannah's port receipts have reach
ed and passed last years receipts. To
this date last year the receipts since
the first of September were 420,975,
against 42639S same date this year.
The receipts at all of the ports yester-
day were $1,000 bales, against $4,000
bales last year this day. The receipts
at Savannah were 5000, against 1000
last year. Yet, in the face of these
figures those who are in position to
know, and who are in daily touch with
the interior points, say that farmers
are swinging on to their cotton, and
hardly bale can be bought in any of
the interior markets.
The cotton that has been pouring in
for the past few days was cotton that
factors were caught with when the
market went down so fast some time
ago, and as soon as they were able to
get even on it they turned it loose.
Mr.. Clarke said that ne had been in
nearly every city In the state of any
size within the past two weeks, and
everywhere he went farmers were 60
ing about their business with their cot
ton receipts safely deposited with the
warehousemen, holding out for twelve
cents.
Receipts Expected to Full on.
Local factors expect to see the re-
ceipts fall off considerably in the next
few days, as by that time all of those
who were holding cotton that could
have been disposed of only at a loss,
will turn all they have loose.
The upward tendency of the market,
it is believed, is due to some extent to
the reports from the interior that there
will be no top crop. The heavy port
receipts, 1t is believed. is all that Is
keeping the market from going to IL
cents. Though the crop was late, the
receipts so far have equalled those of
last year up to this date. This, how
ever is not an indication that the crop
is larger. but is the effect that the
good prices had in squirting the farm
ers to get their crop on the market as
early as possible. and take advantage
Of the good prices.
Faith in Rising Market.
There was a noticeable falling off in
receipts in Texas yesterday, and there
was very little selling anywhere. In
terror brokers are not disposed to make
sales that they feel that they will not
be able to supply with the present at
titude of the farmers to hold. The only
cotton that Is being sold to the export
ers is lots that are already In the hands
OF interior factors. IneTe were prdCr
tically no sales for future delivery.
Those who have expressed themselves
of the opinion that the result Of the
recent frosts would still have a ten
dency to force the market upward, have
not been shaken in their belief by the
erratic movements of prices. Despite
it's ups and downs the market has been
steadily gaining, and it is believed that
the next cool weather that strikes the
I'LL he r,riNo oh
faster than 1t has climbed any time this
season.