Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-04-24

From the circular of Messrs. Robert
Loekhart 4 Dempster, of the 9th inst, we
extract the following touching the cotton
trade of Liverpool, past, present and pro-
spective:
At the close of the year the general opinion
was that while we had in stock 100000 bales more
than at the corresponding period of 1865, the
supplies We had to look for were much less than
they had been in the previous year, The def
cheney in the supplies of all descriptions was va
rOusly estimated at from 500 900 to 750 900 bales.
In addition to this it was considered that the
comparatively low range of prices ruling, viz
l514d for iniddling on the LIST of January last,
against Did on the LIST of January, 1866 would
stimulate trade and induce large consumption
and so people were led to the conclusion that in
the early part of the year, stocks must be rapid
ly reduced and prices must advance. Instead of
the realization Of these ideas, however, it has
been found that although the shipments from
India during the past six months have been
nearly 100000 bales less than they were in the
corresponding period of last season. although the
crops in Brazil and Egypt. but especially in the
latter, have turned out far below the estimates,
and although the American crop has turned out
not larger than was estimated by moderate men,
stocks here have continued to increase and pri-
ces have steadily declined. The causes of this
are easily discovered. aud as they are still in
operation 1t is of Importance that they shonld
be speedily noted. Firstly the great develop
ment of steam navigation the market has been
America, where the usually rapid marketing Of
the crop has given merchants at the seabOard re-
markable facilities for sending cotton quickly
forward. This has made the weekly receipts at
this port more than sufficient to supply the
weekly requirements of the trade and export
buyers, while the facilities afforded by the At
lantic cable for dealing in cotton TO arrive" has
directed the stream of speculation in this di-
recion, where capital is unnecessary, and so left
the home market almost entirely TO the legiti-
mate operations OF trade. Second-the dizziness
.nft do in NH oh kAp
would be dispelled with the opening of a new
year, has increased rather than diminished in
intensity. as 1t gradually became more obvious
that there would be sufficient supply of the
raw material. At no period since LIST January
have spinners been able to buy cotton in this
market and sell current counts of yarn at pro-
fit, and manufacturers of cloths have been in
still worse position. Production has been cur
tailed by short time, strikes, and other causes,
but still it has more than kept pace with de-
mand, and up to this time trade in Manchester
has been fat and Improbable in the extreme.
Instead OF the weekly purchases of spinners
averaging from 5000 to 5000 bales. as was va
riously estimated, it has been only 50 900 bales.
while the average weekly export has been only
1900 bales instead of 20 900 to $4,000 bales, as
estimated. Thus the popular expectation with
regard to affairs has been completely reversed,
and instead of short supplies. brisk demand.
fsiling stocks and rising prices, we have had am
pie supplies. poor demand, increasing stocks and
falling prices, till at the present time quotations
are lower than they have been at any time since
against 5l7 .060 on the l1t January last.
Turning to the prospect ofsuppiy and demand
for the next three months, we see but little that
can lead us to look for much amelioratiOn in the
present state of affairs. The receipts at the
American ports continue liberal for the season
of the year. and point to a crop of at least !,
10000 bales. The Indian shipments have in
creased rapidly during the past few weeks, and,
between now and the monsoon in the month of
June, promise to be at least as large as during
the same period of last year. There are also
considerable shipments yet to be received from
South America, Egypt etc.
We estimate the imports to Goth June as fol-
lows:
From America for Il weeks at 3d.
900 bales per week ................ 384 600 bales
From India and China for y weeks,
at 1900 bales per week.-............. 2l6,000 q
From Egypt. Brazil, West India,
Smyrna, etc, for IL weeks, at 90
900 bales per week......-..............-.2 $4,000
$4,000 bales
Present Stock in Liverpool ......... 667,9sO
1907, $50 bales
Deduct consumption II
weeks at 10000 bales per
week ......... .-...-..-..t. 1SJ5UJJ
Deduct Experts II weeks.
at l. coo bales per week. 10000