The Sun.
London, England, 1861-07-16 00:00:00

THE AMERICAN COTTON MARKET.

(From Messrs. W. T. Wright and Co.'s Circular.)
NEW YORK, TUESDAY, JULY 2, 1861.
By the Europa at Boston, we were advised of
sales, for the week ending 13th June, of 58,500
bales, without change in price. We are since in
receipt of advices per Etna to 20th June, the sales
for the week ending on that date, though not offi-
cially reported, were about 65,000 bales, without
change in price, the market closing steadily. Trade
in Manchester dull. Consols 891 to 89k. Weather
all that could be desired for the crops. Breadstuffs
all cheaper.
Business matters in this city began to assume a
more cheerful aspect the stagnation in every
branch which followed the preparations for war,
gives way to'the necessary activity in many depart-
ments created by the war. Trade with the " Great
West" is reviving since the miserable currency so
long endured is being replaced by one of gold. We
think a slow but steady revival of business will soon
be apparent in all the cities of the North, East, and
West. No important movements of the troops on
either side has taken place during the past week.
Congress meet on Thursday next; it is generally
expected that the hands of Government will be
strengthened, and the war vigorously prose-
cuted very shortly. There is not, in our opi-
nion the slightest chance of any compromise.
The advance yesterday, in the rate of exchange
on London will tend to stop the further import of
gold. The cotton business, except in this city, is
over for the season. Our stock is low, and must be
replenished, later on, from Liverpool ; an order for
this market was forwarded by steamer on Saturday
last.
We have had a more active business in this
market during the past week. Speculators have
to.ltpn fe..117 of drcirable nualilies. Spinners have
also bought to a fair extent. Very tittle has been
done for export. Holders have obtained very full
and advancing prices, and we quote lc. per lb.
higher than on this day week. Our stock is now re-
duced to so low a point that in a few weeks more
holde:s will be able to dictate their own terms.
The sales for the week are estimated at 9,000 bales.
The clearances for the week have been—for Liver.
pool, 398 ; Havre, 128 ; Bremen, 146. Total, 672
bales.
TRANSIT COTTON.—No sales. There are samples
on offer of about 3,000 bales, known to be already
in warehouse in Liverpool ; they are held, how-
ever, above parity of the latest Liverpool value.
SOUTHERN MARKETS.—Business is entirely at a
stand at all the Southern ports. The blockade is
now effectual at all points.

(From Messrs. Neill Brothers' Circular.)
RECEIPTS.—The movements of cotton at the
South for the present season have become quite un-
important. The weekly receipts, even at New
Orleans, do not exceed a few hundred bales. The
total receipts at the seaboard amount to 3,451,000
bales, besides which it is estimated that 183,000
have been received overland, making the probable
total of this year's crop about 3,650,000 bales, or
fully a million bales short of last year's total.
EXPORTS.—The export movement from the South
is now drawn to a clo,e. Our tables this week in-
clude some arrears from minor points. The proper
clearances of the week have been 20,000 bales
to Great Britain ; none to France ; and only
1,000 bales to other foreign ports. The total
to Great Britain is now 2,184,000 bales against
2,618,000 last year ; to France 571,000 bales against
570,000 last year; and to other foreign ports
368,0u0 bales against £472,000 last year, being a
deficiency of 104,000 bales. The stock of cotton
in this country, exclusive of that in manufacturers'
hands, is reduced:to 55,000 bales, the greater portion
of which is held in this city.
NEW CROP, &C.Mail communication with the
South continues very irregular, and our crop ad.
vices from the more distant points are therefore
somewhat imperfect. The grain crops have been
unusually abundant this year, and have generally
been well secured. The prospects of the cotton crop
have also improved materially during the more
seasonable weather of the past month, and from
the greater portion of the cotton-growing coun-
try the accounts are uniformly favourable. In
the Atlantic States, however, the plant is still
represented as small and backward. The
cool wet spring retarded its growth, and the subse-
quent hot dry weather is now causing complaints
of drought. There is little danger, however, of such
damage from this cause as occurred last year, be-
cause the ground is better prepared to withstand a
long period of hot weather this year than last.
With the exception of Georgia and South Carolina,
the new crop appears to be doing well. The
breadth of land under cotton this year, as com-
pared with former seasons, continues to be vari-
ously estimated, but we learn that the reduction
has been principally in the Upland districts. T
the western sections we learn that most planters
have " crossed" their cotton fields with corn,
a practice which has been growing in favour for
some years, and this spring has been adopted very
generally. The object is to rai,e corn without
sacrificing cotton, and in dry seasons it is found
to answer well, and even to benefit cotton by
shading the ground. The amount of labour
engaged in the cotton fields this year is said to be
considerably reduced, and preference is being given
to grain. To what extent these various draw-
backs may affect the ultimate yield, it is im-
possible at this early period to say. Continued
fine weather throughout the season will do
much to compensate for them all, while,
on the other hand, it was seen that the brilliant
prospects of last year to this date were destroyed
by unfavourable weather during summer. The
general opinion so far is, that the growing crop
will exceed the one now closing, but to what extent
will, of course, depend upon future circumstances ;
still, none look for a large crop. Nothing can yet
be said as to when the next season may open; but
it is probable that, under any circumstances, tilt,
usual ; but the
new crop will be late in coming. to market. Pick-
ing may proceed more deliberately, and the cotton
sbcearprepared
g ui withny great
banesei in
gc
ian.r
the
,t
an obstacle to its conning rapidly forward.

APPREHENDED Loss OF MISSIONARIES.—WC are
sorry to learn
that the ship Edwin Forrest, in which seve-
ral missionaries of the Southern Baptist Board sailed for
China, has been so long unheard from, that scarcely a doubt
remains that she is lost. This is the first instance in which
any missionaries from America to foreign lands have been
lost by the foundering of a ship,—.Plaulelphia Prfsby-
tarian.