The Yazoo City Whig. [volume] (Yazoo, Miss.) 1844-1851, 1844-11-22

NO &IlCIS which WSsGOpy UGIOWe aPPOeA
ed in the London Tines a short time back.
Il Is a review or summary Of the events con-
nected with the Cotton Crop oflasl year and
has particular reference to the speculations,
founded on the early estimates Of the extent
of the Crop. The subject is one, which, OF
course, Inlereslsa large portion of our read
ers, and we therefore re-publish the article
entire:
A brief history Of tho American cotton
trade for the year furnishes facts which are
well worthy being made matter Of record.
II is stated that the srping of l643 was one
unprOpitiOus for planting but II was not TIL
August that the subject of the crop attract
ed attention. The month of September was
the time when prices first advanced, on the
opinion that the crop would be short, and the
business transacted on this assumption caus-
ed an improvement of three quarters OF q cent
per pound. A check, however. was subse-
quent given TO speculation by the success
artedding the gathering, and the little im~
preston produced on our side ofthe Atlantic
by the movement Prices having receded 10
their former level, no material change took
place till November, when the advice Ofheavy
and continuous rains in the principle south
ern' and western states having acted upon the
New Orleans and neighbOuring markets,
created much speculation, and the result was,
hat quotations rapidly advanced, exports
were restricted, and stocks accumulated in
the south 1t was now that estimates OF the
crop were first ventured on; 1900, 1000 bales
were said TO be about the quantity, while
even the most sanguine admitted that 500,
600 bales was a fair average, and hence II
calculated, certainly, that the English and
other transatlantic markets would be forced
OPP, and large profit made out ofthe foreign
consumer. From the middle of November
TO the middle of January this condition of
affairs continued, and in New York ON the
18th OF the latter month the highest point was
attained, fair uplands being quoted at lOa
cents TO l04 cents, and far Orleans at IL
cents to la cents per pound. The first re-
action produced in the American markets
was BY the news received on The 10Th of
January from Liverpool Of slight decline
in that town, the advces stating that the
Manchester spinneFs, instead Of being will
ling 10 pay speculative price for the staple,
or even the advance already established,
were combining together, not only to prevent
the market going higher, but TO affeci a re-
duction. The decline in price was, however,
but Temporary, and at the beginning Of Feb
ruary the feeling in favor Of advance was
again predominant On the Goth of Febru-
airy, Liverpool accounts we're received in
New York, stating that fair Uplands had
reached Cd, and fair Orleans Cad per ID +,
with the report Of tho extensive sales which
had taken place in that town during the lat~
ter part OF January, the quantity disposed du~
ring the week ending the Sd Of February "a
mounted to los, 5OObales, excee ding by 8 $500
bales the memorable week ending the 23d Of
April, 1925, and the greatest amount ever
sold in The same time. II appears, however
that this intelligence did not create the wish
ed for stimulus, and prices dropped under
the disappointment prevailing. TIE steamer
that left for England on the lst Of March took
out increased estimates ofthe crops, and the
amount was roundly stated as being 2,000,.
600 bales, which. with positive orders to sell
at the market price, under tie peculiar feel
ing in America and England, soon brought
the fall that, for some time previously, had
threatened TO occur. In America it was evil
dent that prices could not be much longer
supported, since the total receipt of the ar
ticle amounted to ISL 694 bales, while the
tO'al exports we're only 4l9,602 bales, of
which but 282, 474 bales had been shipped in
Great Britain, the stocks in all ports in the
meanwhile having run up TO 62O,994 bales,
Of which New York alone held $4,000 bales
The consequence of this position OF affaits
was that general desire 10 sell became APP
parent, and the decline in the New York
market in the month Of March was folly lad.
per pound. In the month of April prices
further declined, the Liverpool accounts
showing the effects ofthe increased estimate,
and the large shipments making for export
from America. During the months of May,
June and July prices remained without ma
terial alteration, the fluctuations not exceed
ing &c. per pound. Since August further
fall has taken place of lac. per pound. the re-
suit Of the usually heavy stocks, and the fiat
tering prospects of the next crop. 1t is said,
and most truly, that the fluctuations here eS-
hibited satisfactorily demonstrate the folly Of
tansaCtlng business on the faith oil the early
estimates which are from time to time made
of the crop, and those probably the production
Of interested parties, who are ready to sieze |
every opportunity they can, at whatever risk |
or cost, TO make an advantageous market for
themselves. The total receipts Of cotton for
the year lS43 a have amounted to 2,030,>
400 bales. The manufacturers of America /
have taken for their own consumption during
the year 346,7 44 bales, which is an increase
Of 81 ,6l5 bales compared with last year.
Many new mills are said to have been built
and more are in course of erectiOn, which is
made the foundation of an opinion that the
domestic consumption ofthe United States is
destined in future to exercise much greater
influence upon the price Of the raw material
than has hitherto been the case.
Sidney Ridgon now says that the Nor
monites are worse than the ancient Seldom.
ties.