davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
TURPENTINE is DULL
DEMAND LIGHT FOR SPIRITS AT
OFFICIAL QUOTATION.
FACTORS EXPECT NO DECLINE
BELIEVE LAST DROP OF &c ESTAD-
LISHED TRADING BASIS.

Demand for Resins Good enough,
but TurDentine NeGIected-LaTGe
Sales of ROsins-ROugh Weather
May Interfere With the Movement.
The naval stores markets ruled fairly
active yesterday, with the trading
along moderate lines. The demand
was fair, though not urgent at any
time, and the day closed without spe-
cial feature.
Turpentine opened quiet at &c, no
sales, and closed dull and unchanged,
no sales. The day was without fea-
ture, with exporters indifferent about
buying and the opinion among them
apparently being that prices are to
seek a lower level before bottom is
reached. Factors were backward
about selling, with many refusing to
let go at quotations on the theory that
the reaction took the price low enough.
The receipts were 1OS casks, and the
exports 30 casks.
Resins opened firm, at the prices be-
low, sales 1888 barrels, and closed firm
as shown, sales 1852 barrels. The de-
mand was called good all day, with
no great trouble in disposing of the
offerings. The receipts We're 1852 bar
rels, and the exports 1892 barrels.
Prices as follows:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

New Orleans, Jan. 2S.-Spot cotton in
active demand and somewhat better
supply Sales $500 bales, including
LOO to arrive and 800 f. o. b. Prices
advanced sc.
Futures were irregular at the OPEN
ing and showed an advance of Is to 80
points. The market bulled itself until
an advance of about % points had been
scored in March, May and July.
At this point liquidation became
heavy. In spite of the profit-taking,
bull leaders freely predicted that March
would reach Ice before the day was
over. 1t did as soon as they took a
hand and helped to absorb the offerings
by satisfied longs. The Liverpool mar
ket reported sensational advances,
equalling about l2c in American values
and this gave the impetus to the ad-
vance of the day that at its hight
compared with last nights closing,
amounted to 81 points in January at
1880; March, Sc points at 1620c May,
81 points at 1880 and July, Sc points at
1890. Later in the session heavy liq-
uidation caused a recession of 10 to Is
points, the market closing firm with
net gains of 3S to As points.
Futures closed steady; January,
1900 bid: February 1880 bid; March,
16.02616.03c; April, 16.20@16.22c; May,
16.51@16.52c; June, 1662616.64c: July,
16.76c; August 15.90Q15.96c; September,
14120l413c
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
NOBODY ExPECTs REACTION.
Baxter & Co. Say the Market Will
Go Higher.

New York, Jan. 2S-Accounts from
all sections of the South indicate an
active demand for spot cotton and at
full prices, in fact rapid advances do
not stand in the way of sales. With
such activity it would be folly to ig-
more the situation. People who were
led to feel that the crop is big one
are now inclined to believe the con-
trary and are looking for figures con-
siderably under those promulgated by
bulls early i'm the season.
The remarkable fact Is that the eX-
treme bears do nothing more than be-
little the strength of the situation by
every possible means, but fail to sell a
pound as a matter of fact Nobody
looks for much of a reaction, while
many expect considerably more rise.
The movement is believed to be at the
top limit just now as result of high
prices, and after this month, it is ex-
pected receipts will fall off consider
ably under February figures of last
year, which were $1,000 bales. First
prices were at sharp advance this
morning and trading was on a large
scale. Before long July reached 16
cents, profit taking followed and prices
went off because the advance had been
too rapid.
Port receipts pointed to only $1,000,
against $4,000 last year. Exhaustion
of stocks were reported at many UNI
counted interior towns, while Liver
pool advices indicated a reduction in
crop estimates and disposition to
follow the advance. Gables were IS to
20 points higher to-day.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
THE RICE MARKET.

Advices from the South note rather
quiet conditions on the Atlantic coast.
Planters seem disposed to husband
their holdings, feeding out the small
supply to local and nearby points at
good prices compared with other pri-
mary markets. At New Orleans there
is a strong tone with increased demand
for the week, over recent like periods.
The out-turn of mills is sold each day
and a scarcity of medium grades has
toned up the market on such, quite
an item. There is a noteworthy alb
sence of speculative demand as trans
actions are mainly for immediate dis
tribution. In the interior-Southwest
Louisiana and TeXas-there is fair
movement. The mills are working on
ample supply of rough rice, which is
steadily decreasing as the stock is
almost entirely in warehouse.
Gables and correspondence from
abroad note no new features. Buyers
are looking ahead to the advent of
new crop. Prices on forward account
are not attractive and only moderate
business doing.
Talmage. New Orleans, telegraphs
Louisiana crop movement to date: Re-
ceipts. rough, LAOS, 140 sacks; last
year, 1882 sacks. Sales. cleaned
(est), SCI. 75S pockets; last year ss5,S21
pockets. Market strong. Mill output
Talmage. Charleston. telegraphs
Carolina crop movement to date: Re-
ceipts, 23.64O barrels. Sales, 14,404 bar
rels. Market quiet.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
NEW YORK COTTON FUTURES.

New York, Jan. 2S.-The cotton mar
ket opened firm at an advance of 7N23
points, and from the start. ruled eX
ceedingly firm and active on sensation
ally higher cables, light estimated re-
ceipts and further reports of a growing
scarcity of spot cotton in the Southern
markets, accompanied by the most bull
ish gossip concerning the speculative
situation
The opening advances had been into
new high ground. New Orleans was
buying heavily here, the local bull lead
CT was openly supporting the market
whatever he may have been doing pri
vately, and outside demand seemed big
ger than since last Tuesday. At any
rate, with only slight recessions, the
market was worked steadily upward
until shortly after midday, May reach
ed 16 15c. This uncovered stop orders
and the market developed the widest
excitement so far noted. In one jump
July went from IL 25c to 16.40c. while
May sold up to 16 30c. The active
months a this level were net &C to SO
points higher for the day, and had
scored q not advance from the low
point of last week of about 2l2 cents,
or nearly $1,250 a trading contract.
Such a gain as this naturally attracted
heavy realizing, and with demands less
pressing there was quick reaction of
about 20@30 points which, however, was
followed by renewed steadiness, as the
bulls again came to the support of the
market which was finally steady at a
net advance of 51056 points on the old
and 3014 points on the new crop posi-
tons. Sales were estimated at 1,500,-
600 bales.
The local market for spot cotton was
marked up so points to 16. 25c for mid
ding, and it was reported that cotton
was being purchased in the South on
the basis of 16 soc in New York. Off
cial reports from the Southern spot
markets indicated firm markets with
prices generally from Nc to &c higher,
with New Orleans &c higher, and sales
there of $500 bales.
Port receipts were light, but the in
terror movement was only a little be-
hind last year. Interior shipments,
however. exceeded receipts. Exports
were very light.
Receipts at the ports to-day were
a. sos bales, against 10, 122 last week, and
1876 last year. For the week 140O 900,
against 15S245 last week. and 1S4,161
last year. To-days receipts at New
Orleans were 1858 bales. against S,243
last year. and at Houston 5,033 bales.
against 1858 last year.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

New York, Jan. 2S.-Flour steady.
Rye flour firm.
Buckwheat flour quiet.
Corn meal firm.
Rye firm.
Barley dull.
Wheat-Spot firm; No. red, 93c.
The wheat trade this morning unus-
ually slow. but with prices steadier
on reported rains in Argentine and ev-
idence of further bull demonstrations
West. After midday, they advanced
further on strong outside markets and
a big cash demand at Minneapolis,
closing PC net higher; May, 921ac;
July, STAG.
Corn-Spot. steady; No. q SEC. OPP
ton market ruled dull and easy at
first under room selling, but later re-
covered with wheat, closing 1sc up.
May, 555sc; July, 541sc.
Oats steady; No. 2, 45c.
Beef steady.
Cut meats firm.
Lard weak; Western steamed, $3.50;
refined, weak; compound, $6.50Q6.75;
continent, $765,
Pork firm.
Tallow steady.
Rice steady.
MolaSses firm.
Sugar-Raw steady: fair refining,
1S-l6c; centrifugal, 30 test, . 0-loC,
molasses sugar, 2 9-16c; refined dull
Coffee-Spot Rio firm; No. I invoice,
15-16c; mild steady; CordoVa, S%@
13hc. Coffee futures opened firm at
an advance of 5Q15 points on active
buying. The European markets were
no more than steady and the opening
advance in the local market attracted
heavy selling for long account, but the
bull leader in the local cotton market
was a heavy buyer during the session
and other Cotton Exchange houses
also supported the market while there
seemed to be a good general demand
from other sources. This absorbed
offerings very promptly, but toward
the close these seemed to grow heavier
and prices lost part of their previous
gains. The market was finally steady
net unchanged to points higher.
Sales were the largest on record, 500,
250 bags.
Butter quiet; creamery, 22c; state
dairy, 14@19c.
Cheese steady; state full cream fan
cy small colored and white, 12c.
Eggs steady; state and Pennsylvania
nearby average finest, 39c.
Potatoes firm; Long Island, $2.79q
325; Jerseys, $2.25@2.75; Jersey sweets,
$1.50@S75; state and Western, sacks,
$2.25@250.
Peanuts firm and unchanged.
Cabbage steady and unchanged.
Cotton by steam to Liverpool. 12c.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
Grain Markets

Fruits and Nuts.
APPLES $4OO@425; choice, $500
3.75.
ANAS-$1. 5O@2OO.
COCOANUTS-Sack of 100, per sack,
$3.50.
RANGES-Florida, $2.75@3.00.
LEMONS-New Massinas, 1925.
MALAGA GRAPES - Heavyweight,
$500 per keg; mediums, $4.25@4.50 per
box.
PRUNEs-2Os to 3Os, 1Sc; SOs to 4Os.
10c; 40s to sos, Sc; sos to SOS, 71ac;
COS to 70s, SIC; EOS to sos, &c; sos to
9Os, SIC; 90s to zoos, 41ac.
PEANUTS-Ample stock, fair de-
mand; market firm; fancy hand-pick-
ed Virginias, 51ac: N. c. peanuts, 4hc;
ex. Virginias. sc.
NUTS-Almonds. Terragona, 141ac;
Ivicas, 1S1ac; walnuts, French, 121ac
Naples, 141ac; pecans, 10c; Brazils,
915c filberts, lie; assorted nuts, So
pound and 25-pound boxes. 12c.
Dried and Evaporated Fruits.
APPLES-Evaporat 7hc; sundried
SIC.
APRICOTs-Evaporated, fancy, 1Sc;
choice. 10Ac.
RAISINS-L. L. 2-Crown. 81 50; g.
Crown $500; 4-Crown clusters, 50.
loose muscatells. SC; 1-pound seeded,
10%c; imperial cabinets, SO co per box.
PEACH ES-Eva porated, peeled. 16c;
unpeeled. sac.
S--Evaporated, 10%c.
CITRON-A S. drums, 14Hc; fancy
Corsican, in 10-pound boxes, 14Ac.
URRANTS-Barrels, &c.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
ny NORDEN & co.
The Bull side of the Cotton Market
Is StiII Advised.

The Bull side of the Cotton Market
Is StiI Advised.
New York, Jan. 2S.-We have had
another sharp advance to-day. with a
very great increase in speculative bust
ness, many of those who would not buy
when cotton was at or 10 cents, being
now anxious buyers at over 16 cents.
This has given rise to the feeling in
some quarters that the present move
ment is entirely speculative, but while
no doubt prices have advanced more
rapidly because of the speculative ele-
ment, we cannot regard the position as
at all unhealthy as yet. If the crop is
as small as we figure, or even If it
should turn out to be a couple of hun
bred thousand bales larger, there is
certainly not enough cotton to supply
the wants of the world, and prices
must go to a considerably higher level.
While great caution is advisable and
ventures should be well margined, we
continue to advise the bull side.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
LOCAL FINANCIAL MARKET.

Domestic Exchange-Buying at SOC
discount, selling up to s25 90, 1Oc: SIS
to $50, 15c; $50 to 500, zoe; 500 to
5000, 25c; 5000 to $500, 3Oc $500 to $500
S5c; $500 to $500, 4Oc; $500 to $500, 45c;
over 500 at the rate of 75c per $1,000
premium.
FOREIGN EXCHANGE - Market
weak. Commercial demand, sterling.
s4.S4.25; sixty days, $4.S0.75; ninety
days. $4.79.25: French. 5.22A; Belgian,
5.23; marks, sixty days, "a 3-16:
ninety days, 93B.
The following are the Savannah Cot
ton Exchange quotations:
Bank Stocks.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
LIVERPOOL COTTON MARKET.

Liverpool, Jan. 2S.-Cotton: Spot in
limited demand, prices "a points higher
American middling fair. S.66d good
middling, S.50d: middling. S.40d; low
middling, S.S4d; good ordinary, sad;
ordinary, S.04d. The sales of the day
were 5000 bales, of which 500 were for
speculation and export, and included
400 American; receipts. $4,000 bales,
including 23,S00 American.
Futures: Opened firmer and closed
barely steady American middling.
good ordinary clause: January. s. 20d .
January February. S.1SdS.19d; Febru-
ary- March, S.1Sd March-April. S.1Sd:
April-May, slid; May-June, S.16@
slid; June-July. slid; July-August,
S.11@S. 12d. August-September a. 9Sd !:
September October, 7.31d.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

vance. We must stand aside and
watch the fire burn. There will be leaps
and bounds before it is over. 1t is not
market to be long much cotton.
Holders have had the chance of life
time. The rest can safely be entrust-
ed to the gamblers. There has never
been but one end to this sort of thing.
1t will be awful when that end comes.
The less one trades now the happier
he will he
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
SEA ISLAND COTTON.

The sea island trade was very brisk
during the week, and the BUSH
ness would have been augmented but
the offerings were restricted. Quota
tions we're advanced however, and some
business was done since the markets
close
Included in the weeks receipts were
several largo blocks of sea islands
which were held IN the interior, which
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29


Galveston-Firm; middling, 10 5-16;
net receipts, 3,451 gross, S,451; sales.
1,7S6; stock, 1854. EXports-Coast-
wise, 1898.
Norfolk-Net receipts, 1900; gross,
1900: stock. 26.315.
Baltimore-Nomina middling, 1875;
gross, 1913; stock. 1882.
Boston-Quiet; middlinf. 1916; net
receipts, 1889; gross, 6S1. Exports
Great Britain, 25S.
Wilmington-Steady middling, 14% !;
net receipts, 1,407 gross, 1,407 stock,
S,765.
Philadelphia-Fir middling, 1850;
net receipts, 101; gross, S01; stock, g.
95s
Savannah-Firm; middling, 1885: net
receipts, 1,473; gross, lab; sales, 1929;
stock, 6,732 Exports-Coastwise S26.
New Orleans = Firm; middling,
Is GIG; net receipts, 5,95S; gross. $3.50;
sales, $500; stock, 425,S41.
Mobile-Firm; middling, 1855; net re-
ceipts, So; gross, So; sales, 800; stock,
q, 1888. Exports-Coastwise, 200.
'Memphis-Firm; middling, 1875; net
receipts, SOL; gross, 1902; sales, 4.25O;
stock, 50.6S7.
'Augusta-Firm; middling, 15%; net
receipts, SS5; gross. SS5; sales, 2.5O2;
Charleston-Firm; middling, 15A net
receipts 2S2; gross, 232; sales. 100;
stock. 1065S.
acknowledgement; net receipts,
$50; gross, $50; stock, 4,S5S
+Louisville-Firm; middling 15k.
asst. Louis-Firm; middling, 1874
gross receipts, 1892; sales, 319; stock,
22,743.
"Houston-Steady; middling, 15h
net receipts, 5.03S; gross. 5,033; sales,
619: gross. SO 923
New York-Quiet; middling, 1926;
gross receipts, 105; sales. 1000; stock,
69,522. Exports-Great Britain, 92S;
France. 81.
Port Townsend-Net receipts, 744;
gross, 744; Japan, 744.
Total to-day. at all Seaports-Net,
14,soS; Great Britain, 1,1S1; France,
81; Japan, 744; stock, 775. 1928.
Consolidated, at all Seaports-Net,
117,772; Great Britain, $3.50; France,
15,s49; continent. 1852; Japan, 744.
Total since Sept. l, at all Seaports-
Net, 5,919,667; Great Britain, 1.765, S51 ;
France, 5S6,S43 continent, 1,990,214; ia
pan, 34,409 Mexico, 20,246.
mot included in totals.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

caused the receipts to nearly equal
those of last year.
The crop of sea islands i'm sight is
69,196 bales against S2SS4 last year,
which is a difference of l91SS bales.
The supply of the Carolinas is so
nearly exhausted, that the season is
virtually ended, while in Floridas and
Georgia's the demand is good, and the
tendency is still upwards.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

LARD-Pure, in tierces, TIC; So
pound tins and SO-pound tubs, SAc;
compound, in tierces, &c; 50-pound
tins and S0-pound tubs, TIC.
Miscellaneous.
FISH-Mackerel, half barrels, No. 1,
$1,000; No. 2, $3.50; No. 8, $500; kits,
No. 1, $1.4O; No. ., $1.3O; No. 8, $110;
Goldfish, 1-pound bricks, &c; 2-pound
bricks, 512c; smoked herrings, per box,
10000; Dutch behring's, in kegs, $110:
new mullets, half barrels, $500.
SYRUP-Market quiet; Georgia and
Florida syrup, buying at 22023c; SELL
ing at 26Q27c; sugar house at 1872 q
1Sc.
HIGH WINES-Basis, $1.27.
HONEY-Fair demand; strained, in
barrels, 45c gallon.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
DRY GOODS.

New York. Jan. 2S.-In the dry goods
market excitement continues unabated
in the raw material market and the
influence of this feverish condition is
very much in evidence in piece goods
Buying is more liberal but conserva-
tism is still the watchword of the buy
er, who is afraid of bidding the market
up against himself
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
GET OUT AND STAY OUT.
Ware 4 Leland Say Market May BE
Left Now TO Gamblers.

New York, Jan. 2S.-Cotton ran over
16 cents this morning and in New Or
leans July sold at 1870. Nothing can
be said in addition to what has been
written time and again. All opinions
all factors, all expressions are value
less. AS long as the big men hold to
their position there is but one course
for prices. If the attitude Of the
three big traders in New Orleans and
the two large interests in New York
can be guaranteed, we do not believe
anything could prevent lie or even zoe
while the fire burns. 1t avails nothing
10 say there is a day Of reckoning
ahead. No man knows when 1t will
come or how, but it will come and
there will be no chance to get out.
There is no use trying to fight the ad-
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
SAVANNAH'S CURRENT MARKETS

Note-These quotations are revised
daily and are kept as near as possible
in accord with the prevailing whole
sale prices. Official quotations are not
used when they disagree with the
prices wholesalers ask.
POULTRY-Market we'll supplied;
springers, 30@35c per pair; three quar-
ter grown, 40@50c pair; hens, 70Q75c.
EGGS-22c.
BUTTER-The tone of the market is
firm. Quotations: Elgin, &c; extra
creamery, 26@261kc; state dairy, 17Q22c
CHEESE-Market firm; fancy, full
cream cheese, 1914 @131ac for 20 and 30
pound averages; % to 30-pound aver
ages, 13@13Ac.
WHITE PEA BEANS-$2.5O bushel.
POTATOES-$2.7 IS.
ONIONS-Native. barrels, $3.50.
TURNIPS-$1. 10000 sack.
CRANBERRIES- Cox, $2.75
box
BreadstuH, Hay and Grain.
FLOUR-Patent, $500; straights,
$4.75; fancy, $4.55; family, $4.15; spring
wheat, best patent, $685..
MEAL-Pearl, per barrel, $915; per
sack, $1.S5; Pierce's water ground,
$1.30; city grits, per sack. $1.S0; Pearl
grits, Hudnut's, per barrel, $3.15; per
sack, $1.35; Savannah Milling Com
pany, meal, $1.30 sack.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
COTTON SEED orr.

New York. Jan. 2s.-Cotton seed oil
was firm but less active. Prime crude
(. o. b. mills. 30c; prime summer yellow,
SI637lac; off summer yellow, nominal:
prime white, 40c; prime winter yellow.
40m42c.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29

SALT-Car lots. 100 pounds burlap
sacks. sec; 100 pound cotton sacks. 3Sc;
125-pound burlap sacks, 45c; 125-pound
cotton sacks. 47c; 15o-pound burlap
sacks. sac.
HIDES-Market. Arm: dry flint,
1S1ac; dry sailed, 111sc: green sailed.
SIC.
WOOL-Firm; prime Georgia, free
of sand burrs and black wool, nomi-
nal at 21c: black 1Sc: bury. 10Q12c:
wax. CSC: tallow. 4c: deer skin, 24c.
Hardware and Building Supplies.
LIME. CALCIUM PLASTER AND
CEMENT-Alabama and Georgia lime
in fair demand and sell at S5G9Oc a
barrel; special calcined plaster, S1.50@
1.65 per barrel hair, 4@5c: Rosedale
cement S1.20@1.25; carload lots, spe-
cial. Portland cement, retail, $2.65;
carload lots, $2.00G240.
LUMBER-Market firm. Quotations:
Sawn ties, per NJ feet $10.5061l; hewn
ties (7x9xS1a). 42c each; hewn ties
C6xs), Csc; switch ties. $11.50; minimum,
easy size yard stock. sl2914; car stills,
s146l6; ship stock. 500.
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
sPOr COTTON AT NEW YORK.

New York, Jan. 2S.-Cotton-Spot,
closed steady. 80 points higher; mid
ding uplands, 16.25c; middling gulf
1880. Sales 800 bales.
Cotton futures at New York Jan. IS:
The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-29
COLD AND RAIN STRENGTHENED
WHEAT.

Chicago, Jan. 2S.-Cold weather
throughout the West and Southwest
with rain in Argentina strengthened
wheat prices to-day. a gain in the
price of cash wheat in the Northwest
also contributed to the advance. Closed
firm: May. A0asc up. May corn closed
Hmssc higher. Oats were unchanged.
Provisions unchanged to cents lower.
The leading futures ranged as fol-
lows: