Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-12-01
REVIEW OF TEE sew YORK COTTON
NaDUEm
nRcULAR OF T. } STEWART a co.

CIRCULAR Oh 7. J " a CO.
NEW ToRK, November 81, 1887.
We have not issued a circular since ours OF
September 10th, containing the tabular figures
Of the crop, closing the year on August 3lst
with an exhausted interior, and a total OF p
939,5 SIG bales at the seaports, thus falling be-
low the general estimates Of operators fully
100 900 bales, and Of our own, nearly 100000
bales, as our correspondents viii have perceiv-
ed. The absence Of a supply here, and the
temporary suspension Of a large number Of the
Cotton Mills in the Northern States, has so
narrowed transactions for the past two months,
that we have not thought Il advisable to issue
q circular until the crop was made, OF active
business resumed. The position Of our spin
ners is daily improving, and We may shortly
look for the resumption which has now com
meneed, to be extended on a large scale. At
this period the floating stock among them usu-
ally averages 70 10 100, 700 bales. It is now
exhausted. 10 Providence, X. l., and all Of
the North, there is not 5000 bales Of cotton.
In regard 70 the amount Of supply. we desire TO
express no decided opinion until we can see
how far the weather may be favorable for pick
ing. Although a killing frost has not been
widely published as was the case last season,
inasmuch az dealers never had a smaller inter-
est, either in Europe or in this country, still,
It is generally known that cotton was arrested
in its growth by it as far South as Florida, as
early as the 9th Of October on the 2ist OH.
in Middle Mississippi, aud on the 18th nit. in
Alabama, aud during the past fortnight, re-
peated severe frosts have been recorded, cover
ing the whole Gotten section. The effect has
been since seen in the dropping Of green bolls
and the destruction Of the top crop. The re-
peated white frosts which have since interview
ed, destroyed the top foliage, and by that the me
ridian sun was enabled TO reach and rapidly ma
ture the middle and bottom bOlls, which had
previously turned brown. Cotton growing, as
distinctly expressed, ceased about the middle
Of October. Since that date, the plant has
only been benefited az We have above named.
As a class, the growers are less in debt than
any great interest in the country. The deiiv-
cries have been free since September LIST, eX-
cept for about a fortnight. Planters have been
satisfied with prices, and as fast as their crops
could be picked they have sent more, and not
less. than their usual shares to the sesports,
reserving their later piekings until after March
opens. Il is obvious that the amount az the
crop depends 30 much upon the length Of the
picking season, that estimates at this period
must allow margins Of 100000 bales for ex-
tremes. We have given it full attention, and
record our belief, that it cannot, under the
most favorable chances. reach 3 100000 bales,
and may not exceed 100000 bales. This may
startle the uninitiated, and those who may have
been hoodwinked by large crop circulars issued
By extensive cotton buyers, and if it would
affect their interest, the earlier they send con-
hdential agents to the cotton plantations to get
proper data, the better it will be for them.
T. ]. STEWART & CO,
Cotton Brokers, No. 40 Pearl. near WaH Street.