Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-06-10
[cIRcULAR.1


NEw YoRK 9th June. 1899
You have doubtless received the uniavorabe advce BY the
Great Western in relation the market These adj
vices, il is apprehended do disclose the full ex-
tent the dangerous situation in which great staple is
placed.
The diminished demand yarns goods on the con-
nen the short harvest Of the las, the shipment bul-
and accelerated decline in prices n some stems
not promptly taken to the remaining cot
ton now IN the country from being offered for immediate sale
in the European markets.
II the consumption q cotton in England only di-
mnhed some 10 OF l5 per cent still in consequence Of the
clearly ascertsned descenc, in the last YEAR eror
(Which has fallen nearly low lowest past
htabe and hence they obnoxious charge Of nm.
warrsntable speculation which often deprives the shirt
rash commercial adventure Of all just claim sympathy
material H. perhaps not little aided by deter ON
the part Of the English spinner TO have the residue the crop
At hs own price under belief that the great
holder OF the last is out Of the Market there no
rous officially in his way, BY working short hours FOR few
weeks TO accomplish tins desirable end IL becomes
therefore to supply the absence Of this great by some
co.op,r.ton among nti, dual interests
NOW quite obvious that but two modes would be likely
to couneract the result that msst otherwise inevitably flow
from the causes just indicated
The first would be organize through the aid OF the Bank &c
the United States and the banks the principal eporiums q
the different States combination sufficiently powerful to ad
each bag OF cotton on this side Of the water
which would ensure its being kept in this country three
months.
The other scheme would be 10 concentrate IN one house i,
Liverpool the whole the greater part Of the Cotton now to
forward, by arrangement Cor unfng adequate and
collateral aids sufficiently poee,fti to enable Inc house /,
question hold until greater part Of the present .ock ~
Cotton Eng land is worked anced price result
which the successful execution Of this plan inevitably
secure The first scheme however is liable
its direct and Immediate power produce the desired esu
TO the conclusive objection Of arresng all foreign exchange
operations which might hazard the ability Of Banks
in the Atlantic States to continue specie payments whilst the
last project would be entirely free objection a il
would at augment the Of exchanges enable
10 weather the crisis, which the hr.t plan would be apt
produce.
These views the result of conference which Yesterday
was held With Of the most influential and intelligent er-
chants % fadepha ~ junction with commercial gntle
men OF equally high standing from other portions Of the Union
It's therefore announced TO ysu the best authority that
fours ION what be estimated the present price
u cotton, IL ceDts will be made erery ia this
they desire avail themselves OF the advantage The con-
sgnnents are 10 60 Forward 10 Humphreys Biadie who
tanned by adequate both sides Of the water will
able 10 hold on until prices vigorously rally
IL The usual casualties Of the render short or any
thing under an average crop probable h. plan result
profit Ia shippers and benefit our country IT, on to
other hand the autumn should Disclose the album
dsn the large stock cotton which Me. Hunhr,ys
BID ~ case the shipments made TO them would hol would
probably induce the great and oveuI which ustans
them, 70 enter the market IN the United early In the a
tumn " advancing the @ quarter Of the crop order
TO retain u this tide o the for a reasonable period
to make the final result Of the crop 81 1879 enfysl
safe 10 all .9neriean shippers and holders.
copy % ths circular 8 enclosed to the principal cotton
Factors and shippers aud presidents Of the banks southern
cities To whom with All proper Difference II suggested In ca
The advance on the shipment 70 Messrs Humphreys Bdds
should not cover the full &C the shippers that he
institutions which they preside do oger on GOOD per-
sona security the residue q the accommodation wc. may h,
required Our, ,.,,
the interests Of great staple Which eud In
MOI s speculative value bu, it, fair price according JUST
relationship supply aud consumption bear each other. An
agent empowered fully 10 disclose will Ne IN
Your city IN few days. his way o the south and gill la
prepared 20 carry them fully into effect.
sFrom TIE authentic sources of information YOU
may take the following the probable aud entire
ton ~ The United states q the crop Of 1898 the 18th DAY q
June net enulngcher actually present IN depot
mark