The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-10-20
TIL. Foreign Cotton Market.
Smith, EDWARDS & co.'s MONTHLY COTTON c1ncU1

SMITH EDWARDS co.'s MONTHLY COTTON CIRCULAR
LIVERPOOL, October 1.-Our market, after va.
rous fluctuations durinE the past month"; closes ata
decline Of Ha14d in American, and Aa1ld in surat
cotton.
hinge mainly upon the ouurn Of the amer can crop,
and the opinions held BY the public regarding il.
We are sorry report that tn accounts for some
time past have bcca the reverse o: satisfactory.
From some of the leading districts reports are re-
ccived of greet havoc by worms anc, speaklng gen
eraly the recent heavy rains appear TO have done
much damage These accounts come ooth by letter
and by telegraph and are 100 explicit 10 ne dlsre-
cardel. Public pnion in Amer ca Is eVidehtly tono-
ing to lower estimates than prevMeat sUe Nne .ae
ago and whereas it once generally ncusnt tnat
the Weld would exceed the last by 200UuO oales IL Is
now considered very doubtful II there VIII DC an!
excess at ALL 1t is no DOUBT true lnat tne cFoPi
considerably earlier than lost year. aud the rcce9ps
are Ill ely for some weeks to exceed largely the cor
responding ones OF last season. But this necd OK.
cite surprise; for last crop was on: VI te
ever known, and besides that, there was sloppage
of business at the Gulf ports from yellow fever; out
this wear there is every nducement 10 send FORWARD
rapidly-the price s tempting. the pantlne GteresL
extremely poor, md facilities Tor trGnsit SooJ' we,
Therefore ook for rapidly EMS ad IF this @
aud after that periol il the reports we now receive
prove correct til, re islikely to BE- achan:ofor the
worse in the comparison wi h lost year
The excessively email STOCK OF American cotton
held hero puts that class in very strong poslnon,
and il will respond readily to any news 1aVorao!e 10
the market We consider it. under all tue clrcu =
stances of the case relatively cheap. Indian cotton
holds somewhat different position. For several
weeks to come the import must be very heavy, and
the stock here will probably increase to S0O0Oo or
$50 OCO bales It might be fairly assumed that some
decline would take place during the pressure OF SO
large an ipport and were good accounts coming OF
the American crop this would likely take place; but
under the actual circumstances OF tho case decline
In Surat cotton seems doubtful. 1t is well known
that the large import now due will be the Last OF any
magnitude for many months to come, and ills per-
f ct;y evident that in the spring Of next year the
stock Of urits will again dwindle to mere hand,
full The knowledge o. this will stimulate demand
6uring the period of abundaoce. ana give noloers
confidence and so it is p:obablo that the enecs Oh
large arrivals Is pretty well discounted.
Mail accounts have now been received OF rue uain-
apa done by the fools to the 1uian cotton crops III
the Dhollerah and Broach dis irict. 1t appears 10
have been very serious indee]. but ns seton
against It VIC would remark that the area planteo IN
India this year was very urge, and therefore IL Is
premature 10 infer that supply from that quarer
for next year viii be re lued. The Bengal crop 10
also said to have suffered severely.
The shipments Of cotton from the minor p2r's OF
India have been larger than usual during tue autumn
months and have attracted some aten ion, hut from
Bombay they have now almost ceased. We expect
that they viii be srl small Tor the remainder OF TINS
year fro all the Iudan ports, and consequently ,he
statistical position OF Surat cotton Will steadily lm-
prove.
lhe accounts received Of the progress o. tho EgSp
an crop are very satisfactory, ana IN Increased ieid
is expected. From Brazil, also, increased supplies
are looked for next year.