New Orleans daily crescent., 1866-04-25

leading staples, whether Yarns or Piece Goods.
The dem. WA was OF the most general character,
but supplemented, as usual when prices have an
advancing tend sncy by speculative operations
the effect OF which was to accelerate the advance
IN quotations, and to push them up fcttiousy
high and it was the same in the Liverpool Cotton
market, which also was accidentally helped by the
| continuance of easterly winds and the consequent
non-arrlval OF many due and overdue Cotton ships.
so that the stock of Cotton there was reduced
under these circumstances week by week, and the
| trade" which In the previous two months had
| pursued the course of purchasing to only the ex-
tent of their requirements for actual consumption,
were inducsd to devlate from this policy and to
purchase largely in anticipation of their wants.
their takings being during the first three weeks OF
the month about 40,0O0 bales in excess of what
they could spin. No doubt these purchases were
made chiefly to cover orders which they had ac-
cepted, but also the " trade" took alarm at the
dminution which was taking place in the stock,
and also at some Indications, not since realized, of
rapid decline in the receipts OF cotton in the
American ports. The late accounts have tended
to dispel these fears and there seems to be fair
from America being fully realized. Thus in both
the Liverpool Cotton market and in ours Also
prices were unduly stimulated, and were pushed
to higher point than there was any fair necessity
for At the date of our bi monthly circular CON
siderable had taken place in quotations. but it
went much further during the next three or four
days, for during these feeling of speculative ex.
under the influence of that spirit
But all this is again entirely changed Buyers
here began to take alarm at the large and unneces
sary advance, and gradually and decidedly with
drew from the market. simultaneously the over
due cotton ships began to arrive, and the Liver
pool stock, which fortnight ago was reduced to
about 340O 900 bales, has, by the large arrivals |
which have subsequently taken place, amounting
to nearly 100000 bales, and by the moderated pur-
chases OF spinners again risen to 552 900 bales |
with the prospect Of its being gradually and |
STEADILY increased during the next two months up
to some 700 900 bales. The stock in Liverpool at
the same period last year $50 900 bales and it
attained its maximum of about sos 900 bales |
within the following fortnight, after which it began
rapidly to diminish. But at that time the stock
held by the l." trade" was reduced to minimum |
For three months their purchases had been on a |
| most restricted scale, and very materially below
the actual consumption, so that when the recovery
took place from the panic then existing in our
market, they were quite understocked. and com
peed to purchase, not only to the extent of their
consumption, but also in excess thereof, to stock
the many mills which were being reopened, after |
anding Tor some years. 1t Is otherwise now. |
The power OF consumption is generally believed
TO nave nearly attained its ma aXmum until hands''
can gradually be found and in this way more ma |
chinery be got to work. So that it is very unlikely |
that anything will occur during the next two or
of the stock in Liverpool. The overpurchasing |
by spnners during the first three weeks of March
AT one time a source OF strength and cause of
adyance-may not unlikely be now found an
IE,
will now have to bear the test of that most crucial
of all tests--a large and augmenting stock.
The position of our own market is, however, as |
we have before had occasion to point out, inher- |
emily stronger than that of cotton. We are liter
ally without stocks, and the amount is very large
still although decreasing of orders in the hands Of
spinners and manufacturers for their future pro
duction. Nor are stocks heavy abroad. There
seems to be demand capable of taking off the |
whole OF our present production, and of any in |
crease likely to be made to it, if prices be mod |
crate and if confidence be felt in their mainte-
nance. For the time being the continental demand
| is somewhat checked by the fear of war betwixt
Prussia and Austria, the imminence of which ap-
pears to be rather increasing although hopes are
still entertained that peace may be preserved.
There is also an uneasy feeling arising out OF the
dimensions which Fenianism is assuming in Amer
lca, unchecked apparently as yet by any steps
taken by the government there to prevent that
country from being made basis for hostile opera
tlons against our British American provinces, or
against this country. But the energetic action of
the Canadian government and people may be
trusted to prevent any serious complication there,
aud the-eollapse of Fenanism in Ireland as a
power seems complete. So that probably little
attention need be paid IT, the last source of uneasi
ness. In the meantime wages are advancing
throughout Great Britain, and the consuming
powers of the working classes are constantly on
The increase. Also there is the favorable feature
Of cheaper money the bank rate of discount
having since our last been reduced to per cent,
and with the probability that it will before long be
reduced to per cent.
The quotations given in our present are higher
than i'll our last circular by about ID. per h. for
Yarns, by Sd. to sd. per piece for Printers, Sd.
to 49d per piece for Madapollans, 43d. to cd. per
and China Shirtings, I'd to Sd. per piece for India
| Jaconets up to Is square; I'D. to Sd. per piece
for Mus, Sd. for Cloths, aud Sd. to Cd. per piece
| for Longcloths-domestics remaining without
change. But these quotations to a great ex-
tent nominal, for they have scarcely been tested
| since the decline began.