davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news., 1904-12-29
SLUMP IN FUTURES
WAS 81 TO SO POINTS.

New York. Dec 2S.-The sensational
decline in cotton was continued to-
day as result Of aggressive bear pres
sure Immediately preceding the publ
cation of the ginners' report at mid
day, after which there was heavy
liquidation and further pressure, so
that the downward tendency was con-
tinued with the market finally barely
steady at the lowest point of the ses-
sion and every active option on the
list selling well below the &c mark,
with the near months around 612c.
The opening was steadied by the
relatively good showing of Liverpool.
and increased spot business reported
there, with first prices showing a de-
cline of 3 points on January and an
advance of 2G6 points on later posi-
lions. But the bear leaders were ham,
mertng the market, and shortly after
the opening there was a break, carry
ing the market to a net loss of SfD9
points. Later there was a partial rail-
ly on covering, but just before the
census report was received, prices
sagged off again, showing that the big
bears We're confident of their position.
The report proved more bearish than
had been at all generally expected. The
bears took it as indicating a total crop
OF around 100000 bales, while the
lower Wall street bear leader, after
the report was issued, raised his esti-
mate of the crop to $4,000 bales.
The report was followed by active Ii
quotation. While some of the big shorts
appeared to be covering at the decline,
support was withdrawn on every little
bulge and bear pressure renewed. with
the market showing a final loss of S16
80 points for the day. The closing tone
was barely steady and sentiment was
very apprehensive of a bad slump in
the southern spot markets as re-
suit of the report, and the decline in
futures. Sales futures for the day
were estimated at about 100000 bales.
The Savannah morning news., 1904-12-29
GINNERS' REPORT
showed 11,9S6,614 Running Bales
Up to Dee. 13 Last.

Showed 11,9S6,614 Running Bales
Up to Dee. 13 Last.
Washington, Dec. 2S.-The census
bureau to-day issued a report giving
the quantity of cotton ginned in 1877
counties up to Dec. Is last as IL 1885,
6l4 running bales, which is the equiv
alent to 11,S4S.113 commercial bales.
The commercial bales reported to the
same period for 1903 amounted to
S,747,66s
In arriving at the number of COM
mercial bales, round bales are counted
as half bales.
The report to the same date last
year covered S12 counties as against
7S7 this year. The report for the pres
ent year covers the output of 29, 657
ginneries, while 29,527 were included
in the report for 1908. The product
OF the different states for this year.
in running bales, reported to Dec. 10
is as follows:
Alabama. 1,296. 915; Arkansas, 769, 1856;
Florida, 1928; Georgia, 1,795, 1877; In
dian Territory. 433, 755; Kentucky, l.
252; Louisiana, S70.61S; Mississippi,
1,403, ass; Missouri, 36.444; North Car
DINA, 57.195; Oklahoma, 294, 041;
South Carolina, 1,0S3,756; Tennessee,
271.2S5; Texas, 2,9S2,S19; Virginia, A.
Q6O
The Savannah morning news., 1904-12-29
SPIRITS EASED OFF
OPENED FIRM AT 80 AND CLOSED
STEADY AND UNCHANGED.
LATE SALES AT QUOTATIONS.
ROSINs IN GOOD DEMAND AND
PRICES ON COMMONS ADVANCED.

Market Opened Firm With Small
Gains on Several of the Lower
Grndes-CIosed Firm and Tn
changed but In Late Trading An
other Advance of I-2 Cents Was
Paid on Common Grades-New
ROsin Dull.
The sirits of turpentine market eased
off again yesterday in both tone and
price. The opening was firm at so
cents. decline of Y from the close of
the day before, and the close was
steady and unchanged. Sales reported
at the opening were 1874 casks, and at
the close, so. In the late trading sales
were made at the closing figures. The
receipts were 6S2 casks, and the ship
ments, %. The New York market was
quoted at 531a cents. London deported
3S-3.
Rosin continued to be in strong de-
mand and at advancing prices. The
21h cents on several of the common
grades, and with sales of 2,045 barrels.
The close was firm and unchanged
without further sales, but in the later
trading offerings generally were taken
at a further advance of ~ cents on
H, G. d. and B. The receipts of the
day were 4.426 barrels, and the ship
ments, 500. The New York market was
dull at $2.S2h
The Savannah morning news., 1904-12-29
DEMERE a HAMMoND's
Daily Cotton Letter from New Yor

Daily Cotton Letter from New York.
New York, Dec. 2s.-The Ginners
report to-day provided another genu-
inc sensation. The returns from 1871
out of 1919 cotton growing counties
showed 11.S4S.113 bales ginned to Dec.
13. The remaining counties which are
small ones, will probably bring the to-
tai ginned up 10 10000. 900 bales. After
this time last year out of a 10000. 600
bale crop there was ginned 100000
bales; two years ago the amount gin
ned after Dec. Is was 1.702, 900 bales
out of 100000. With these figures
before us there is no escape from the
conviction that the crop growing will
prove fully 1900, 900 bales. So long
as there was a possibility of a crop
less than 100000 bales farmers were
inclined to hold. but when they are
convinced that 100000 have been
produced the question of whether they
will continue to hold or not becomes
very live one. Within the next week
or so, it should be possible to get a
fair idea of what their intentions are.
if decentralization should set in and
selling become general. ii is possible
that prices may be as unduly depress-
ed as they were unduly advanced dur
ing the boom of last January. No one
doubts that cotton now is selling be-
low its real value, but liquidation
must be faced the question of value
cats no figure in the price. Liverpool
is due to come about Is lower to-mor-
row.
The Savannah morning news., 1904-12-29
WARE & LELAND
Say Cotton Is Now the Cheapest
Commodity in Country.

New York, Dec. 2S.-As soon as the
ginners' report came out it was evil
dent that cotton could not stand up
under the figures. If there has been
about 100000 bales ginned up to
Dec. Is. the crop is likely to be over
$4,000 900 bales just as readily as not.
This is not a crop to bull cotton on
every hard, and gives bears such a
chance to raid prices that the break
was not unnatural. Cotton is now 60
ing as much too low as it went too
high last year. but no one will be able
to call the bottom any more than to
call the top. When any staple, par
ticularly as valuable a staple as cot
ton, sells under cost of production
there is a field opened for the investor
that always pays big profits. The only
question is the extent of the decline
and the length of the time necessary
to bring about the change of condi-
tions. That cotton bought at 612 cents
will pay big profit if carried long
enough. every one knows. but where
shall we buy to catch the bottom?
There may be lot of cotton thrown
on the market as a result of the
break, as banks in the South force
some holders to sell. but prices are
getting so low that when the rally
comes 1t will be a violent one for
the time being. Cotton is the cheapest
commodity in the country.
The Savannah morning news., 1904-12-29
COTTON.

New York, Dec. Isl believe this
seasons crop of American cotton to
be 13,500,000 bales or over. The census
returns show that up to Dec. 10 1877
cotton producing counties in the South
had ginned Counting two round bales
as the equivalent of one square bale)
l1,S4S,113 bales of cotton. The census
department further states that the
remaining unreported counties had
ginned this season prior to Nov. a.
1904. S9,261 bales counting round bales
as half bales. A very conservative
estimate of the total quantity thew
have ginned this season up to Dec. IL
is 10000 bales, on which basis 1 esti-
mate, therefore, that all the counties
IN the cotton belt had ginned up to
Dec. IL this year IL ,94s, 113 or practi-
cally 12,OOO,O00 bales. To this must
be added the cotton picked and un-
picked, but not ginned on Dec. 10.
Last season there were ginned after
Dec. 13, 1,324,S37 bales and the sea-
son before last 1,725,44 bales. 1 believe
that much more remains to be ginned
this year than in either of the two
previous seasons, hence my estimate
OF l3,50O,O0O bales or more. The theory
s@AeAN tAA@o dAAlOuill VIII IOl ne naFkeI-
ed is of no Importance. Cotton is
grown to be sold and it will not be
destroyed. 1t will shortly be recog-
nized that the crop is not to be reck-
oned by port receipts and the stocks
at thirty-one arbitrarily selected in
terror towns. The cotton so coming
into sight is for the most part sold
and is not factor of depression. 1t
is the unsold cotton in first hands yet
70 Ar,1 all.
prices downward. On Dec. 10 the in
dicated quantity ginned was Gas
above), 1900. 900 bales. There were in
sight 1872 bales. There were ginned
but not In sight therefore 5155 66y
bales. to which must be added still TO
be ginned at least 100000 bales, or a
total of 6.655,66S bales in farmers
hands invisible and unsold on Dec. 10.
Such a situation is without a prece-
dent in the trade. 1t cannot but
result I'm a prolonged and acute de-
preston TO probably the lowest prices
ever reached. The worlds spinning
trade, impoverished by last years
high prices and the previous years
corner, is without the resources OF
credit requisite for the accumulation
Of large surplus stocks. Even were Il
otherwise, II is not to be expected that
manufacturers be so lacking In COM
| iutitldl odbdeltS as TO Duy largely at
prices that are not as yet even
moderate when considered in rela-
ton TO condition present and prospec-
tive. surplus at the end OF the
season OF approximately 1000, 900
| bales has generally resulted in cents
cotton at some time during the spring
or summer. A surplus of over 1000. 900
bales has only once existed and the
price fell 10 gle cents and did not
advance above 6h cents for nearly a
/ year. In my opinion the surplus
supply over the most literally esti-
mated consumption this season will
not be less than 100000 bales. II
makes no difference whether Il Ia Wis
ible or not. II viii be on hand and
must be sold. It's selling Will proba bly,
carry cotton 20 prices a. low as the
/ prospective situation Is unprecedented.
l on the facts any other conclusion Is
/ illogical (Signcd)
Theodore Prlce.-ad
The Savannah morning news., 1904-12-29
DAILY COTTON MARKET.

FORT movement
Savannah-Nominal; net receipts. 49,
So; gross. 1874; sales, SIS; stock, 1885,
SS1. Exports-Coastwise 145.
alYeston-Nominal. net receipts l.
52s; gross, 1928: stock, 213,5S5. Ex-
ports-Continent. 740.
New Orleans-Easy middling. s%c:
net receipts. 1874 gross. Is, 4eS: sales.
1000: stock. 1882. Exports-Great
Britain. S,77O; continent, 500; coast
wise, 200.
Mobile-Nominal: net receipts. $50;
gross, 5Ss; stock, 7O,6S5. Exports
Coastwise, 204.
Charleston-Nominal; net receipts.
BPS; gross, 32s; stock. 81 1902
Wilmington-Nominal: net receipts.
2,SSl; gross, 1881; stock, 1s.547
Norfolk-Net receipts, 2.193; gross
2,1s3; stock. 22.s1O. Exports-Continent
500.
Baltimore-Nominal; middling. 7%c;
gross receipts. $50: stock, 1882.
New York-Quiet: middling. &c: net
receipts 1872; gross. s.316: stock. 1889.
Exports-Great Britain, 6.S75.
Boston-Quiet, middling. &c: net re-
ceipts. 30: gross, 1855. Exports
Great Britain. 1.O95; continent. $50.
Philadelphia-Quiet: middling. 725c.
net receipts. 61s. gross. 66S: stock. l.
fol-
Total To-day at All Ports-Net re-
eeipts' 4S'lS7 Great Britain. ll,740;
continent, 1000; stock. 70s6. 500.
Consolidated, at All Ports-Net re-
ceipts, 1878; Great Britain. 25. $50
2,9ss '"Po'i'
Total Since Sept. /. at All Ports
Net receipts, 5.s00.977: Great Britain
2.059. I95; France. 1855 continent. 1.
5S5.9s2; Japan, 52.sss; Mexico. 1888.
Interior Movement
Houston-Easy: middling, &c: net re-
eeipts, S.0l6; gross. S.Ol6. shipments
4546; stock, Sl.255.
Augusta-Steady; mlddling, &c; ne,
receipts 2,I55 gross, 1855: shipments
45si sales, 7S0. stock. sS. 100
Aemphis-Qulet middling. SAC; ne,
receipts 2.4s6' gross, 1895. shipments
Bob; sales. $50. stock. 1889
81 Louis Net receipts. 800. gross
1904 shipments, $3.50. stock. as5et
Clnclnnnil-Nct receipts 1856. gross
1889 shipments, 1881: stock. Goa
Louisville middinF. 7Ac.
Total To-day-Net receipts. 1862
gross, 2b2iG. shipments, sls7g. sales
1885, stock, 256.aii
The Savannah morning news., 1904-12-29

The local spot cotton market be-
came demoraszed yesterday after the
first instalment of the ginners report
had been made public, and was so post
ed at the close. No prices were quoted
at any time during the day. and the
only sales posted were those of So bales,
posted at the opening, and cotton that
had been sold the previous day. The
trade was simply overwhelmed by the
figures of the ginners' report and no
body wanted either to buy or to SELL
The tone. prices and sales for the
day in the local market follow:
The Savannah morning news., 1904-12-29
CRITICAL IN MOROCCO.
American Consul General Thinks
Trouble Is Ahead.

American Consul General Thinks
Trouble Is Ahead.
Washington, Dec. 2S.-Conditions in
Morocco apparently have entered on
critical stage, according to cable
advices received at the State Depart
ment to-day from Hoffman Philip, the
acting American consul general at Tan
gier.
After reciting the indefinite post
ponement of the French mission, the
recalling of the military mission, the
French consul and the warning of all
French subjects away from Fee, Mr..
Philip added that the foreign ministers,
including himself, were awaiting in
structions.
Mr.. Pierce. the third assistant secre-
tary of state, promptly cabled Mr..
Philip. directing him in the event that
serious trouble should appear immi-
nent, to advise American citizens in
Morocco to come into Tangier. The
consul general is directed to observe
strict impartiality and to keep the de-
partment fully informed.
The Savannah morning news., 1904-12-29
CH0ATE WILL RESIGN.
He Has Had Enough of the Court
of St. James.

London, Dec. 2S.-While numerous
semi official statements have been pub
lshed here that Ambassador Choate
is about to retire from diplomatic life,
it can be stated that Mr.. Choate has
not sent his resignation or any COM
munication on the subject to President
Roosevelt, or the State Department;
nor has he received any inquiry either
from the President or Secretary Hay
concerning his future plans. 1t can
be safely asserted. however, that it
is Mr.. Choates intention to tender his
resignation soon after the Inaugural
ton of President Roosevelt.
six years is a long slice out of the
life of a man of my age" said Mr..
Choate recently to friends here, 'and
while 1 have enjoyed the life and the
people I have met in England, l have
determined to go home and devote the
remainder of my time to looking after
my own affairs"
The Savannah morning news., 1904-12-29
ROOSEVELT AGAIN
PLAYS TO THE SOUTH.

Paris, Tex, Dec. 2S.-Replying to an
invitation extended by Albert Sidney
Johnson Camp, U. C. ", extended
through it's commander, ]. w. Hardi-
son, President Roosevelt promises to
visit Paris on his Southern trip, if
possible. His letter says in part:
Personally 1 had kinsmen on both
sides. Two of my mothers brothers
fought in the Confederate service-one,
by the way, served on the Alabama
under Admiral Semmes, the father of
the wife of that gallant ex-Confederate,
Luke Wright, whom 1 have made
Governor of the Philippines. 1t was
but the other day that designated the
only living grandson of Stonewall Jack
son a cadet at West Point, and have
just made Jeb' Stuart. Jr., United
States marshal for the Eastern district
of Virginia"
The Savannah morning news., 1904-12-29
J. $. DAcHE & co.'s
Daily Cotton Letter TO Hayward,
Wick e. Co.

New York. Dec. 2s.-The Ginners' re-
port published at noon to-day remov-
ed the last vestige Of doubt as to the
enormous size Of the present crop, 7S7
counties were included I'm the report.
They ginned. counting round as half
bales. 11.s4s.113 bales. against S.427, 259
bales for the same counties last year.
AS these counties last year reported
about IS per cent. Of the crop. II rs
probable the completed returns to Dec.
Is this year will show slightly In in
crease Of l2.OOO.OOO bales. This. the
bears claim. will mean a total crop Of
nearer 5000 900 bales than 125O0.000
bales. After this date last year there
we're ginncd 100000 bales. This sea-
son ginning began earlier. but as there
has been so much more TO handle Il
seems difficult TO say that there will
not be az much cotton ginned after
Dec. Is, as there was last year AZ
any rate. the effect OF the report on
popular sentiment In connection with
all the talk OF holding IN the South
will be 10 strengthen expectations Of
i3000. 900 bale crop, and II enough
people believe u. u II just the same
as n II was actually 80. 10 goes with
out saying that We have new low rec
0rds with January cotton down 10 the
6k cent mark. The bears have re-
covered somewhat since the report. but
on every little bulge they have brought
fresh pruasure against the market aud
there has been considerable liqulda-
ton.
The Savannah morning news., 1904-12-29
CRAVEN GOES TO JAIL.
Connection of the Bradley Martins
Made n CROUCH House,

London, Dec. 2S.-A. E. Craven,
cousin of the Earl of Craven, son-in-
law of Mr.. and Mrs. Bradley Martin,
formerly of New York, has been SEN
fenced to twenty-one days in Jail for
a brutal assault on a fellow passenger
on train. The latter while entering
crowded car bumped against Mr..
Craven's knee with his gripsack Cra-
ven Extensively demanded an apology
and upon receiving a refusal, struck
the plaintiff in the face. Craven then
loudly proclaimed himself "a gentle
man whose name would be found in
DeBrett and cousin of the Earl of
Craven"
The plaintiff declared that Cravens
conduct was not that of a gentleman,
whereupon Craven dealt him a vio-
lent blow on the nose. drawing blood
profusely.
The magistrate in sending Craven to
jail, characterized the assault as most
unjustifiable and most blackguardly,
for which a fine was quite inadequate.
The Savannah morning news., 1904-12-29
LIVERPOOL COTTON MARKET.

Liverpool. Dec. 2S.-Spot cotton in
increased demand. and prices IA
points lower; American middling fair,
426d; good middling, 402d; middling,
Ss2d; low middling. S.SOd; good ordi-
nary. 3.66d ordinary. 3.50d. Sales of
the day were 10000 bales. of which g..
900 were for speculation and export,
and included $500 American. Re-
ceipts, 50.000 including Al. 400 Ameri-
can. Futures opened easy and clos
ed weak; American middling, good or
binary clause, December. sid; De-
cember-January. 3.71d; January Feb
ruary. 373d: February March. 3.7sd;
March-April, 3s2d. April-May, 3.S5d;
May-June. S.SSd; June-July. S.9ld;
July-August, 3.93d; August-September
3s4d: September-Oct 394d; Octo-
ber- November. 3.94d.
The Savannah morning news., 1904-12-29
FARM PRODUCTS VALUES.

Washington, Dec. 2S.-Final returns
to the chief of the Bureau of Statistics
Of the Department of Agriculture show
the production and value of the prin-
cipal farm crops of the United States
in 1904 to have been as follows: Corn,
2,467. 4S0.934 bushels, valued at 81,
461, 440; winter wheat, 1872, 935, 346 bushels,
valued at 1925, 1873; spring wheat,
2l9, 46411 bushels. valued at $184, S7S,-
Dol; oats, 1874, 1856 bushels, valued at
$279 ,013; rice, 21,096,0 OBS bushels,
valued at s13,S91, 52S; potatoes, 332, $780,
300 bushels valued at $3.50, 1872; hay,
60,696,O2S tons, valued at 1929, 107, 625;
tobacco, $50, 460,739 pounds. valued at
$50, 382959.
The Savannah morning news., 1904-12-29
DID NOT GIVE SHELL
TO HIS SISTER.

Detroit, Mich. Dec 2S.-William
Mahu, chief gunners' mate in the
United States navy, whose sister, Mrs.
Thomas E. Barnes, was killed by the
explosion of a one-pounder shell in
her home here last week arrived here
to-day and said:
Il did not give the shell which caus-
ed her death to my sister, as was re-
ported. 1t was given to my mother
eight or ten years ago and was a
Spanish shell. The day that the news
of my sisters death was received in
Newport, r. l.. 200 or more shells and
similar relics of the Spanish war were
taken out on Narrangansett Bay in
small boats by their owners and sunk
in deep water"
The Savannah morning news., 1904-12-29
NEW ORLEANS SPOTS
DOWN 7-16 CENTS.

New Orleans. Dec. 2S.-Cotton fu-
lures steady; December, $3.50 bid;
January, 6.37Q6.3Sc; February, 6.430
6.45c; March, 651d6.52c; April, $3.50
6.57c: May, 6.63G6.64c: June, $3.50
6.70c; July, 6.74d6.75c.
Spot cotton easy; sales 5000 bales,
including 1900 to arrive. Quotations
reduced 7-16c.
Futures opened quiet. Prices were
unchanged to l point higher. Soon
after the first call there was improve
ment of from to 5 points, the mar
ket remaining steady until the GIN
ners' report of the census bureau re-
ported at II O'Clock. The bearish char
acter of the report caused an almost
immediate decline of SO to 81 points in
the midst of one of the widest scenes
ever witnessed about the ring of the
Cotton Exchange. Later in the day the
excitement subsidized and prices i'm
proved points from the lowest lev
els of the session. March opened at
7.02c. advanced to 7.07c. and then
dropped to 6.50c. The market closed
fairly steady. Net losses were As to
81 points.
The Savannah morning news., 1904-12-29
GENERAL MARKETS.

New York. Dec. 2s.-Flour held
higher. but trade was quiet; Mime
sofa patent, $5.s5@6.20.
Rye flour quiet.
Buckwheat -four dull.
Corn meal steady.
Rye nominal.
Wheat-Spot. irregular; No. red,
$1.20A. Options broke a cent a BUSH
ell to-day. Near the close prices rail-
lied on covering. but still left off 80
nc net lower; May. $1.147s; December,
$1.20A.
tion market was quiet, closing partly
&c net lower; May. 51%c; December.
56Ac.
Oats-spot. Arm; mixed, s51s03slac.
Beef steady.
Cut meats dull.
Lard quiet; Western steamed, 1920;
refined dull; continent, s7.25; COM
pound, 5h@6hc.
Pork quiet.
Tallow quiet.
Rice firm.
Molasses steady.
Butter very firm; creamery. ITO
27lac; state dairy. 16d26c.
Cheese firm, unchanged.
Eggs firm, unchanged.
Potatoes steady: Long Island, sl.75n
200: state and Western, $1.25@1.50;
Jersey sweets. s2.0Oq3.5O.
Peanuts steady.
Cabbages steady; fat Dutch. per 100
S2.00n3.00.
Cotton by steam to Liverpool. i5@
zoe.
sugar-Raw steady; refined firm:
confectioners' A, 5.60c; mould A,
e.l0c; cut loaf. 6.45c; crushed. 6.45c:
powdered. 5.S5c; graduated. b.15c;
cubes. 6.00o.
Coffee-Spot steady. The market for
coffee futures opened steady at an adj
vance OF 20 10 points, but lost the
advance and closed net unchanged TO
points lower. Sales. l20750 bags.
The Savannah morning news., 1904-12-29
NOT UNTIL SHE CAN
SUPPORT A HUSBAND
That's the Advice That Is Given
Young Women.

Young Women.
Chicago, Dec. 2S.-N. w. Ferris, re-
cent Democratic candidate for Governor
of the state of Michigan, in an ad-
dress before the National Commercial
Teachers Federation here has advised
women stenograp piers and women in
general not to marry until they are in
position to support husband.
Until a woman is able to support
husband, she should not contemplate
matrimony," declared Mr.. Ferris.
While believe it is the duty of every
woman to marry, still also believe
that before taking so serious a step.
a girl should look ahead and prepare
for possible future misfortunes. There
fore, every girl should fit herself for
an emergency and be prepared to step
into her husbands place in the sup
port of the family in the event of any,
thing Detailing him which will unfit him
for work"
The Savannah morning news., 1904-12-29
BODY OF WOMAN
FOUND AT AIRSHAFT.

New York. Dec. ga young woman,
bearing many evidences of prosperity,
was found dead tonight at the foot
of an airshaft in a tenement house in
Delaney street. The police are I'M
decided whether her death was the re-
suit of a crime or accident.
She lay with her head bent under her
body and her neck is thought to have
been broken. She was about 80 years
of age and we'll dressed. She wore a
plain gold wedding ring marked, "T.
B. to G. c.. April 10, 1900"
The police are looking for a man
who was seen in the hallway into
which the airshaft opens. and who,
when asked his business there, replied
ing department.