The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-03-19 00:00:00

March 19, 1841.

STATE OF THE AMERICAN COTTON-MARKET►

AND PROSPECTS OF THE CROP•

By the arrival of the Hibernia, mail steam-ship, we are
favoured with the circular of Messrs. Stewart & Wright'
of New York, dated the 28th ult., together with a private
letter dated on the 29th ult., at the latest hour which
would save the packet. The substance of the information
conveyed by this document, and from other sources within
our reach, we here give.
The writers adhere to the opinion expressed in theft
circular of last month, as to the extent of the crop. whic,,
they set down at 1,800,000 bales, although they realer;
that the majority of the letters from New Orleans an
Mobile—and these not from parties solely interested la
the staple—speak with more confidence of 1,600,000 to
1,700,000 bales. The ground of this confidence is in Part
the falling-off of the quantity received in these and other
ports as compared with the quantity at the corresponding
period last year. At New Orleans the receipts up to the:,
17th of February show a decrease of 227,937 bales.
Mobile, where the total receipts have been calculated
upon as equal to those of last year, the receipts up to the
17th February exhibit a decrease of 12,435 bales. 111
Florida and the Atlantic States the crop is represented al
being already nearly all received; and the total discre-
pancy, as compared with last year, amounts to 314,485,
the quantity received last year up to present dates behl
1,496,179 bales, and this year only 1,181,694. There
therefore be over 600,000 bales still to be received tome°
up the estimated crop of 1,800,000; and this, notwith-
standing planters must have hurried forward their croPa
to meet rising markets, and of late have done so from a
fear of the rivers, which are rapidly falling, becoming
unnavigable.
The fact, mentioned in Messrs. Stewart and Co.'s cir-
cular, is worthy of consideration, in estimating the pro.
bable amount of the crop, that whilst in the Atlantic ports
the quality of cotton has been better than usual as to co;
lour, cleanliness, and staple; the arrivals at Mobile an
New Orleans, since the first week in February, have con"
tained a great quantity of very inferior—in fact of cote'
plete trash—which has become known as storm cottolf,
and is represented as scarcely merchantable. Some °f
this description has been sold as low as ten dollars Par
bale. Various estimates are made of the probable cluarl.:
tity of trash of the kind to arrive ; and it is thought (10'w
likely that it may be large enough to have an influence 011
the good and sound portion of the crop, and do much to'
wards making even the smallest estimate a liberal allow'
ante of merchantable cotton for the year ending Ist Sep'
tember, 1844. _

The stocks on hand in all the ports are 620,994 bales
against 422,137 at the corresponding period of last year'
This excess of stock is principally held at New York,
which contains 152,000 bales against 30,000 last year, and
New Orleans, which contains 225,930 against 187,365 last
year. Nor does there appear any probability of this stock
being forwarded fir awhile, partly owing to the increased
price asked for freights and the unfavourable rate of ex'
change. In New Orleans, on the 10th ult., there was an
attempt made to ship and some vessels taken up car
Liverpool ; and these will take in all 20,000 bales. ill
Mobile, for the week ending 17th February, there WIS
not a single bale exported to Great Britain ; and from
letter from Savannah, of the 20th February, we learn tbst
"although tonnage is abundant, stock, ample, and star-
ling exchange in demand, there has not been a single 135;
chase on English account in this market since the stabil'
of the last steamer." In New York some vessels bait.
been taken up, and more cotton is in course of shipiliellt
than at any previous period this season ; but this is Ile
on account of recent purchases but for purchases toa
within the last three months, which are to be held in DI:
rope until the issue of the crop is decided, and are lotll
now in anticipation of a fall in Exchange and advanced
rates of freight.
It is evident, from all that we have said, that we are
not likely to have any great pressure of stock upon oar
own market, to arise from large arrivals for awhile, pro-
vided the speculators in the United States can afford to
hold for firm prices. In the meantime money continua
abundant; and although the latest advices before us FL"
some reports of an increased estimate of the crop, it !ha;
generally believed that this was only an attempt, 00
part of buyers to invest on more reasonable terms, '"
creating a temporary panic ; and holders, therefore'
shewed no disposition to force sales.