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

March 19, Mit

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 circniar of Messrs. Stewart & Wright,
of New York, dated the 28th ult., together with a privatehic
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 their
circular of last month, as to the extent of the crop, which
they set down at 1,800,000 bales, although they retoart
that the majority of the letters from New Orleans ago
Mobile—and these not from parties solely interested la
the staple—speak with more confidence of 1,600,000 t°
1,700,000 bales. The ground of this confidence is in pot
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. Al
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. la
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 being
1,496,179 bales, and this year only 1,181,694. There will
therefore be over 600,000 bales still to be received to make
up the estimated crop of 1,800,000; and this, notwith-
standing planters must have hurried forward their crolai
to meet rising markets, and of late have done so from
fear of the rivers, which are rapidly falling, becoming
unnavigable.
The fact, mentioned in Messrs. Stewart and Co.'s cif"
cular, is worthy of consideration, in estimating the pro'
bablc 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 sou
New Orleans, since the first week in February, have con'
tained a great quantity of very inferior—in fact of cool'
plete trash—which has become known as storm cottoi;
and is represented as scarcely merchantable. Some of
this description has been sold as low as ten dollars per
bale. Various estimates are made of the probable quit
tity of trash of the kind to arrive ; and it is thought (16"'"
likely that it may be large enough to have an influence 00
the good and sound portion of the crop, and do much tr/-
wards making even the smallest estimate a liberal allow'
ance of merchantable cotton for the year ending Ist SO"
ternber, 1844. _

The stocks on hand in all the ports are 620,994 bale/
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 vise
an
attempt made to ship and some vessels taken up for
Liverpool ; and these will take in all 20,000 bales. le
Mobile, for the week ending 17th February, there was
not a single bale exported to Great Britain ; and from
letter from Savannah, of the 20th February, we learn that
" although tonnage is abundant, stock, ample, and ster-
ling exchange in demand, there has not been a single Por'
chase on English account in this market since the stag
of the last steamer." In New York some vessels ha/
been taken up, and more cotton is in course of shipmen,.
than at any previous period this season ; but this is
on account of recent purchases but for purchases made
within the last three months, which are to be held in go,i
'
rope until the issue of the crop is decided, and are nisei
now in anticipation of a fall in Exchange and advance
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 our
own market, to arise from large arrivals for awhile, pro"vided the speculators in the United States can afford
hold for firm prises. In the meantime money continues
abundant; and although the latest advice* before us give,
some reports of an increased estimate of the crop, it we'
generally believed that this was only an attempt, on the
part of buyers to invest on more reasonable terms, 121
creating a temporary panic ; and holders, therefore,
shewed no disposition to force sales.