The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-05-28

"a. on American and Surats, and Id. on Brazil ano
Egyptian. In addition 10 the causes 70 which we
referred in our last the course OF the market this
week las been unfavorsbly Influenced by the con-
tiuued large shipments from America. by the
position Of home politics, the probable resignation
of the ministry, or q general election, but above
all by the unfavorable advices from Manchester.
The sales Of the week SUN up AZ $40 bales, OF
which "a $50 were taken by the trade, $3.50 de-
clared for export and $3.50 on speculation. In
Cotton to arrive very limited business was DONE
and the closing quotations are: for American
ship named, basis middling, uplands l2ld., Mobile
l2sd and Orleans l24d., and for Oomrawuttee,
fair new, March sailing, ed, april sailing SD.
The statistical position of the market appears
at present hardly so favorable as at the date OF
our last report. The imports Of the week have
been small, viz $1,000 bales, but.neyertheless we
have an increase in stock during the week OF
l6 10 bales, and the stock now stands at 542 400
bales. against sl3 $50 last year. The cotton re
ported at sea from America and India is now
3l3 600 bales, against 645 900 last year. Decrease
In visible supply, as compared with last year,
5O2 $50 bales, against 522 $40 as per our last
port but the trade having taken this week some
Is 900 bales less than their probable consumption.
the general position Of the market is actually but
little changed.
The increase of stock here for some weeks past
has been very rspii-nOw $40 400 bales, against
3l2, 040 on I'd ult.; but there are now few or no
vessels overdue from America or India. The i'm
ports for the next week or two are likely to be
ent stock may prove TO be the maximum OF the
season.
The export demand continues unusually small.
For the past three weeks the actual exports have
averaged only 6769 bales per week. against an
average of 1926 for corresponding weeks of last
year. This falling of may in great measure be
explained by the heavy shipments from America
to the continent for the three weeks ending Sd
ult., viz as, 900 bales against $4,000 last year,
en- increase of 5000 per week. These large ship
ments have been arriving at continental ports the
past three weeks. Now, since the Sd uit., the
Shipments from America to the continent have
averaged about 5000 bales per week less than last
year, and we may reasonably look for this de-
crease TO be made up by increased purchases IN
this market. Besides, the season has now arrived
when we usually have an active export demand,
particularly to North European ports and as
the harvest advices from Germany are very favor
able, we are now inclined TO look for an early and
marked improvement in the demand.
The trade have, during the past four weeks,
taken an average of only AZ ESQ bales or 5000
bales per week less than their probable consump-
ton. Short time is no doubt in many instances
being resorted to- but long the statistical pc.
stion of the market remains very strong. spin
are not likely to let their stocks of cotton run
much, if any, lower than at present.
The Manchester market is certainly in an unfa-
vorable position. 1t seems that at the present ad-
vanced scale of prices buyers of goods for ship
ment to distant markets are very timid about op-
Grating, consequently stocks are accommodating,
end this has naturally led to greater anxiety to
effect sales. II appears also that in January and
February last large speculative orders were given
out for both goods and yarns, which have recently
been resOld at rather lower prices than producers
could afford to sell at considering the present
price Of cotton. These cheap goods will, how
ever, no doubt soon be cleared out, and as re-
duced production may check any further accumu-
lation of stock, we may hope soon to have more
cheerful advices from Manchester.