The Northern Daily Times.
Liverpool, Merseyside, England, 1856-06-24 00:00:00

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GENTLEMEN'S SUMMER

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SUMMER COATS

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THE NORTHERN TIMES

ND COMB

LIVERPOOL

ERCIAL,

MONDAY EVENING,

The tone of the Cotton Market has been steady
to-day,And a good business has been done, the
sales. reaching 9,000 bales, 3,509 of which have
been taken for speculation and export. The
American advices received to day report a further
falling off in the receipts of 27,000 bales for the
week ending the' 9th of June;, but as this
compares with a small week last year, the excess
over that season remains about the same. The

following letter, from a private correspondent,
dated New Orleans, June 7, 1856, gives some
important information as to the present state and
future prospects of the Cotton trade : _
I expect, before this reaches you, that your money mar-
ket will have improved, and that cotton would then
advance. On this side stocks are reduced to 380,000 bales.
Allowing that we receive 100,000 more, and that stocks
at all the ports on Ist September next, amount to the same
as on Ist September last year—viz., 141,000 bales, there
will be shipped to all ports, between this and Ist September
next, 339,000 bales, and if Great Britain takes two-thirds

(hitherto she has only taken one-half, including 60,000
cleared for Great Britain, and afterwards ordered to other
ports) the total export to Great Britain will amount to
1,884,000 bales. Of this, 250,000 was exhausted before Ist
January, or rather received, consequently, you will have
1,634,000 bales to supply your wants from Ist January,
1856, to Ist January, 1857, without reckoning the new
cotton you may receive before the close of the year, which,

probably, miy be one-half less than it was last year, owing
to the backwardness of the crop in omparison with the
last. This will give you 32,000 bales per week, nearly. If
you add to this the stock of American in Liverpool, on Ist
January, it gives you 36,500 per week, without reckoning
what you may receive between Ist September and Ist
Jin lary. Your consumption of American this year, up to
9th May, amounts to 33,000 bales per week, which leaves
you an excess of 3,500 bales per week for export, but this,
as before stated, is without reckoning the quantity lost and
ordered off to other ports, which will, in all probability,
amount to 100,000 bales before the close of the year. The
tables you have at your command in Liverpool, will enable
you to estimate the export of American for the year, and if
you add, for the amount to be received from Ist September
to Ist January, half of what was received last year during
the same period, you will arrive very closely at what
the stock will be at the end of the year, supposing, of
course, that there is no variation in the consumption. The
calculation stands thus, and cannot be far wrong

Export to Great Britain from Ist Sept., 1855,
to Ist Sept., 1850.
Less received in L'pool bef4ze Ist Jan. 250.000

1,631,000
Stock of American in L'pool on Ist Jan., 1856 231,000

1,865,000
Lees lost at sea and ordered to other ports 100,000

1,765,000

Weekly consumption, 52 weeks, at 33,000 per
week

49,000

Add receipts from Ist September to lst:January.
Deduct export from Ist Jan., to Ist Jan. '57.
As you will have to depend altogether for your future
supply on the crop now in the ground, which, before it can
be gathered, is subject to many casualties, and may prove
short, and seeing no prospect of any diminution of consump-
tion, believing also that your monetary difficulties will
gradually disappear, there appears to be no reason why
cotton should not go to higher figures. I believe so, because
every one interested in the staple, either as importer or
consumer, must shortly see it in this light, if they do not
already. The fact is the staple is in so strong a position
that something very extraordinary and unlooked for must
take place to cause any continued depression in'prices. The
lightness of money is doing it for the moment, but I have
confidence that a better state of things will exist before this
reaches you. I cannot understand the fears which some
entertain as to the future price of the staple, when it is so
clear that the future supply MUST be short of what it is this
year, which, large as it is, will be found barely sufficient
to keep stocks from diminishing, and when we. take into
consideration the healthy state of the trade and commerce,
both of England and the United States, the almost Certainty of
cheap breadstuffs for the remainder of the year, I am only
surprised that speculation is not more rife. I propose
remaining here this summer, and shall not fail to give you
all the information I can obtain in reference to the progress
of the growing crop. So much depends upon this crop,
from the fact that stocks have never been so low, taking
consumption into consideration, that any disaster to the
crop now in the ground would be a very serious thing. It
is a remarkable fact that the stock of cotton in Liverpool at
the close of last year was lower than it had been in thirteen
years, except in 1847, when the consumption was one
million bales less than it was last year. I do not, however,
wish you to suppose that I think the amount of stock
governs prices altogether, for the year 1847 is a striking
example

that other causes completely bear down prices in
of small stocks. That year fair cotton declined
from 71-1-d in January, to 4Zd in December, and continued
low until it reached 4d in October, 1848, but the cause of
that depression was the most severe commercial crises that
England ever laboured under. In 1849, when the recovery
commenced, the price advanced to 7d in November, and
from that time till August, 1850, a period of prosperity, it
continued to advance till it reached 86d. and yet the stock
in December, 1850, was 5.1,000 bales, which I take it
will be more than it will be at the close of this year. Such
a combination of favourable circumstances as exist now,
viz., cheap breadstuff:l, short supply, large consumption, and
a flourishing trade everywhere, must surely tell. In 1847-8,
when prices were so low, breadstuffs were at famine prices,
trade and commerce were crippled, and the consumption
small. In 1850 it was the reverse of both. This year is
as it was in 1850, except that consumption is 10,000 bales
per week more, and money is dearer, but if this rights
itself I do not see why prices of cotton should not rule as
high as they did in that year.

The Liverpool Share Market opened very
strong this morning, and with a fair business ;
prices gradually hardened during the day,
closing firm at the highest point at the
following quotations :—Aberdeen, 13-a 131. Ches-
ter and Birkenhead, 16& 16g .Caledonian,
311 311. Chester and Holyhead, 164 161.
Eastern Counties, 11 1.16 11 1. East Lan-
cashire, 201, 21. Great Northern, 24 244.
Ditto A, .9110. Great Western, 629 63.
Lancashire and Yorkshire Stock, 964 961. Liver-
pool, Crosby, and Southport, 171 18. London
and North Western 5t0ck,.1044 104 g. Manchester
Sheffield, and Lincoln, 32 321 Ditto New 6
per cent. Pref., 9-16 ap. Ditto Pref., 111 12. Mid-
land Stock, 821 821. North British, 91 91.
North Staffordshire, 6 Sid. South Eastern and
Dover, 22 a-16 24. York, Newcastle, and Ber
, 214 211. York and North Midland, 30
301. Leeds Capital Stock, 19 191. Buffalo and Lake
Huron, 11 lap. Dutch Rhenish, 1 13-16 lip.
Great Western of Canada, 263. 26k. Ditto New
Shares, bi 3 9-16 p. Great Luxembourg, 81 81d.
The Grand Trunk Railway of Canada continues
to attract some attention, and by the advices re-
ceived today, we learn from 'the Quebec Chronicle
of the 9th instant, the resolutions to be submitted
to the House of Assembly by Goverument, or in
substance are as follows :—The Province to relieve
the Grand Trunk Company from the payment of
interest nn the Provincial Bonds for five years,
estimated at 225,0001 per annum. The Province
to forego priority of lien, and to rank as ordinary
bondholders, placing the bonds of the company
on an equality with the Province. They further
propose to authorise the company to raise two
millions additional capital, to complete the line to
London and Suznia, together with the Victoria
Bridge.

The following is a comparative statement of the
exports of wheat flour, and Indian corn, from the
United States to June 10th :

Wheat. Corn.
Qrs. Qrs.

To
1,718,848 .. 677,074 620,000
Britih ports
183,51854
Continental 787,570 .. 238,111 .. 8,666

2,506,418

915,185 :. 628,666

To Mitish pB5 orts6 } 1,012,656 .. 544,180 ... 677,777
1855, 1
Continental . 641,969 ... 280,018 .. 27,443

1,654,625

824,198

705,220

Less shipnei in
1855-'56 than 851,793 .. 90,987
in 18.53-'54
More shipped in
1855-'56 than . • 76,554
in 18 ;3-'54 11
Accounts from Leipsic to the 14th instant, state
that the v, 00l fair of the season had commenced,
and the market generally was quiet, with au
advance of 9 to 2, and 1 to 11 rix dollars per stone
upon the average prices of 1855. On the second
day the market continued good, but the advance in
prices was not well sustained, the wools offered not
being so satisfactory in condition as was expected.
Advices from the wool growers in the neighbouring
distriots state that the general appearance of the
Clip is good, and will prove more abundant than
last year.
Advices from Aykab, by way of Suez, have been