The Savannah morning news., 1903-10-20
ARE STILL OPTIMISTIC
SLUMP IN COTTON PRICES BE-
LIEVED TO BE ONLY TEMPORARY.
LOCAL FACTORS CONFIDENT.
BELIEVED WALL STREET DOES
NOT CREDIT SHORT CROP.

Receipts for the Season Are Still
Behind Those of Last Year, and
1t Is Believed That the Crop Will
Have Been Harvested by Nov. 10.
Falling on in All of the Ports
Except Savannah Yesterday-SOmc
Place the Shortage in the Crop as
High as Twenty-Five Per Cent.
terday. which is generally accounted
for by the failure of Jack Frost
to put in an appearance in
the South as vigorously as was
expected. The market went off full 20
points, and trading was lively, but To-
cal factors and producers in the inte-
rior will not take the bait. They will
wait for a reaction.
Tales that annually go from the
South that there is no top crop have
been treated with the usual indiffer-
enee that has been exhibited by North
ern buyers, and they will not believe
that such is the case. Nevertheless it
is true, and local factors feel assured
that within thirty days the price of the
staple will have advanced 100 points.
Not Up to 1902 Yet.
Receipts at the Savannah port have
been much in excess of the same DAYS
last year for the last two or three
weeks. Yesterday the figures were 49,
$40, against 1875 last year. The total
receipts for this season up to date have
been 1884 bales, against 345.923 last
year. The receipts at all ports yes
terday were 1927, bales, against SLAB
last year. This shows that receipts are
falling off at other ports, and it is gen
orally believed that from now on there
will be a gradual decrease in the re-
ceipts at all of the ports.
One prominent cotton factor said
yesterday, in speaking of the situa-
ton: Il confidently expect to see the
entire cotton crop harvested by Nov
Is. OF course there will be a few scat
tering bales, but what is generally call
ed the last of the crop will be in the
cotton houses of the farmers by that
date. 1 have made an extended trip
through Georgia, and a part of Mis-
sissippi, and it is surprising to see how
near all of the cotton has been picked
cut. In some sections of the southern
part of Georgia, the fields have al
lCduJ DGSu dDdIQOHeQ, dS all OF TIE
crop has been harvested, and farmers
generally are bewailing the fact that
there is no top crop"
Not as Cool as Expected.
The cool weather that visited the cot
ton section Saturday and Sunday was
not as severe as was generally supposed
it would be. Had killing
frost fallen. many contend that
there would have been no such
slump in the market as took
place. There are those however
who are of the opinion that after all
the causes for falling off in the market
is based on supply and demand, and
that mill men have refused to credit
the much worn statement that there
is short crop and are buying scantily
until the price goes still lower. 1t is
noticeable, however, that there has
been much trading on the floor in New
York for the past few days, and the
bears have had the upper hand. This,
too, has had it's effect.
If reports of the railways traversing
the cotton section of the state are to
be taken as official there will be a fall
| ing off of several thousand bales in
Georgias receipts this year, in fact
it is believed by many that 25 per cent.
would be safe estimate of the differ
ence in this years crop with that of
last year.