New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-01-08

The talk yesterday was whether the accounts re-
ceived the day before could be relied The greatest
bar to favorable reaction In cotton is that the pur
chases aud shipments made during the months OF
September, October and the early part Of November
are on arrival in Liverpool Immediately forced on the
market, and sold for whatever is offered causing i'm
mense losses and frightening Dealers spinners and
shippers in general. Then the shipments which have
been made on planters account direct, though in the
aggregate small, are magnifed into ten times the
quantity, which, with the Bear accounts from New
York, are all advantageousy, it appears used for de-
pressing the cotton trade The course of the cotton
market yesterday did not to warrant buyers to
meet factors views confirming the impression that they
(the Bears) have 10 confidence in the reported ad-
vance of I'D. or id. The Manchester market as indi
Gated by the telegraphc advices did not respond to
the advance in Liverpool as appears by the following
dispatch from an eminent house:
LIVERPOOL, Dec 20, lS57-1P.M.
Manchester does not respond to our improvement
and cotton is quiet again. J. & d. NJ. & Co.
We do not know whether the above firm comes
under the classification of Bulls or Bears-we give
credence to the dispatch, and will also remind the
present generation that in the great and memorable
year Of 1925 cotton sent up from Is to 20 % and
80 cents, through the management of half dozen In
divduals, who met daily for some weeks previous to
the lst January, 1925, in the countingroom Of the
Quaker firm of Cropper Benson Il Co., Liverpool.
The great lever, or the motive influence, was the
short stock of cotton on hand the 3lst December
| 1924. We do not intimate that similar state Of
affairs might arise at this time, but know that at
the last quotations Of cotton in Liverpool it would
not require such an overwhelming amount of money
to control the cotton trade in England during the
next six months. Following as the present does one
Of the greatest commercial and financial revulsons
known in the annals of history, it can hardly be ex
pected, even with the prospects Of deficit YIELD that
any monopoly of the trade will be attempted to be
carried out. We, however, fully believe that the
worst accounts for cotton have been received though
parties sanguine that Mddling will yet recede
to sd and 5ad, we do not coincide with them. The
worst feature of the cotton interest," at this moment
is the shipments made on planters account, which
will go far to increase and strengthen the growing
| impression that the yield will be abundant, which
will overstock markets, and the growers are com
PEELED to seek distant markets. A more mistaken
idea never prevailed This is our talk, not the gene
raj talk on change, because there are two parties
there.
circular from New York by the last steamer
| emanaiing from house which has received many
| notices from our hands, says:
New YORK, Dec. 20, 1857.
| We have deferred adopting any precise crop esti
mate till our information complete as possible
from all sections. We need not now review all tn
circumstances of the growth. The extensive plant
ing, injuries from frost, protracted cold wet sprn,
and summer, and uniformly unfavorable prospect
till September, fresh in the memory of the trade
The sole question is, IL the long and steady contnu
ance Of fine weather in the fall remeded all thes
evils. We hoped it would but regret to say that tn
information we have collected is all completely op
posed to such theory. The fine weather came 10,
late to furnish the requisite degree of heat to rpel
large crop. A fair top crop was generally made
but where the rays of the sun were shaded by tn
rank growth OF leaves, engendered by moist season
particularly in the bottom lands, the bolls did no
ripen. 1t appears to us then that the few who hav
hastily adopted the estimate of $3.50, 600 bales hav
done so upon presumption of much greater benefi
from the fine weather towards the close than ha
actually resulted from it.
1t is our own conclusion, that 100000 bales vii
be nearer the actual CROP and this amount will moi
in any case, be exceeded by than 100000 bales
while it will require considerable advance in price
during the summer from the low range likely TO prt
vail during the next few months, to induce deliver
of near this amount.
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