The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-16

We give below the report OF the New Orleans cotton
market for the year ending August 81, ls47, and the
prospects Of the growing in the southwestern
ton Of the country
New ORLEANS ANNUAL RrroRT.-The history of this
great Southern during the year has
ed by extraordinary vcistudes and the hopes of par
ties interested have been subject to repeated elevation
and depression according to the varying phases of the
seasons progress At the time of issuing Annu
al Statement the question Of supply the engrossing
point and ths-as usual ut so early period Of the
rssson-wss involved in a Of uncertainty The
Of the plant throughout the country gene
rally and the destructive ravages Of the caterpillar
which had just commenced led to serious
Of an important curtaiment Of the products particular
y in the southern valley of the Mississippi and also in
ly gained strength the advanced and 1t soon
became evident that the hopes of the planters had
similar agency. For considerable period many par
ties continued sceptica In regard to the representa-
lions Of damage to the crops but their correctness
has long since been conceded and the demonstra-
ton is established by q reference to the receipts
at this port which Show falling of Of 334,689
bales as compared with the previous year The
conviction Of large deficiency in the expected yield
soon led to speculative movements and induced manv
planters place high limits upon their crops as they
forwarded them to market under the reasonable expec
aton that when this fact should be known iu Europe
where the stocks were already comparatively miteds
material Of prices would be the natural
suit These expectations have been partially attained
and under ordinary circumstances might perhaps have
been realised to their fullest extent But It has hap
pened, in the course Of events, that the
which prominent among those which produced
disappointment and disaster in 1855 has exercised
much powerful aud extended influence during the
past season, viz: famine in Europe II Is beyond ques
tion that this has been the main obstacle to much
more considerable advance than has actually occurred
in the markets abroad foras have already remark
cd in another food and dear clothing cannot
be maintained at the same time among the consuming
masses Of Europs-those who usually take the
great bulk Of the supply and, consequently,
We see that the quantity taken for consump
from January LIST to July lst of the present year
has been only $50 e57 bales against 776,5O9 bales
H..
the six months Of ls4,s52 bales average weekly
decrease Of 100 bales During considerable portion
of the tme however the ratio Of decrease has been
much greater and for some weeks-say in May and
June-the sales for consumption scarcely amounted to
one half the average OF the previous year similar
state OF depression and from similar existed on
the Continent; and our home consump tion which II
expected would be materially increased will be found
have scarcely reached the extent last wear when
1t was put down at 422 597 bales Having thus glanced
what conceive been the IN ain ca uses of
the dsappontments to which both producers and nur
chasers have been to extent subj pass
TO a brief review Of the course Of our market
The first arrival Of the crop the 7th Au
gust being days later tn the first receipt
and fifteen days later than the first receipts 1874
only part of bale bo~ever (some l60 pounds and
was evidently forced ior war psemsarey to gain the
fore criterion Of the of the CROP az was
clearly shown by the fact that to the FIRST epemb
there received Of the growth only 40 bales
against 6si6 bales to period In 1916 and 6720
Isaa Up to the lst September. only four bales Of the
crop had been sold, viz (he first received) at
continued very limited for several weeks, and the
accounts from the interior respecting the destructive
rsvages Of the caterpillar led to apprehensons of
very material falling OF In the production Of the Mis-
sssppi valley particularly In the States Of Louisiana
and Mississippi and caused prices to assume upward
movement a considerable portion Of the receipts
in under high limits, with orders to withhold
them from market Our quotations the LIST October
s 10 cents per pound, for middng to fair Loui
eanas and Misssspps and mt this date there fair
demand for France Spain and the North but prices
too high for English orders notwithstanding the
receipt OF Comparatively favorable accounts from the
Liverpool market From the LIST Of October to the latter
part OF December the market continued very steady at
average range Of about i0Ao for middlDg to fair
but at the period ast mentioned favorable accounts
from England, combined with the conviction that the
crop could not exceed and would probably fall short of
two millions Of bales started speculative opera
lions, IN addition to those for export, and suddenly
elevated prices cent per pound our quotations
the LIST OF January being 10 lk per pound for
middlins to fair. These rates fully maintained
and further slight advance realized when In the
latter part Of January the celebrated Thems accounts
came to hand representing the Liverpool market be-
ing In state Of speculative excitement almost without
parallel condition OF things which was produced by
view Of their greatly reduced stock and intelligence
from this side Of the Atlantic that the crop othe United
states would not exceed two millions Of bales Under
TINS excitement the sales at Liverpool for the eight
business days, from the 18th to the l4tb December
amounted TO the enormous quantity Of $4,000 bales