Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-08-03

Stock on hand Sept. l, 1s68-~-~-- AZ
Received tO-day.~-~.-.~-~ %
Received reviously.-~~~-..241,l" z45,zIa
"a, 200
Shipped to-day -....--. ...-.,
Shipped previOusly~."-~~...246,ss 1857
stock on hand at s68
Receipts per NJ. & C. r. R., 8 bales; Nj.
a TIA; NJ. & o.; River "a; Wagons -.
Exports were, per NJ. & c. R. r. -
NJ. q o. ~; River -.
A Liverpool dispatch Of the 3Oth ult.
says of the scarcity Of cotton in England:
"The Cotton Supply Association has
adopted a resolution looking to the speedy
development of railways in India in order
to facilitate the, expectation of cotton
from that country. This course is taken
in consequence of the insufhciency of.the
supply from the United States. The stock
of American cotton is not large enough to
keep the mills Of Lancashire fully en-
gagged"
The cotton trade, says the London Ship
ping Gazette, is still in a very peculiar po-
SitiOn. The struggle between Liverpool
and Manchester, which has been going on
for so long a time, hasresulted in the par
tial defeat of the latter. The position Of
the raw material is statistically strong,
while the stocks OF cotton goods through
ont the world have been greatly reduced
in 9nsequenc Of the restricted exports
from this country. Holders of raw cotton
have been favored by the fact that money
has continued cheap, which has given
them a considerable advantage in the
contest with the %spinners. There is very
little doubt, however, that the latter
have pursued the right policy in limiting
their purchases to the utmOst extent, and
they NAV not have to regret having
lone so. The restricted consumption
which has been going on has
impaired a healthy tone to
both the Liverpool and Manchester
markets. and more activity may be an
ticipated in both, until, at least, present
ave been supplied. The immedi-
ate cause Of the return Of activity Is the
condition of the Eastern markets, which
must hy this time he pretty bare Of goods.
The shipments to India. as we have fire.
quentlY pointed ont, have beeu on an IN
usually small scale for some time past,
and altogether out of proportion to the
requirements of so large a population.
on the other hand, the exports to China
have boon greatly on the increase. These,
however, have been rapidly absorbed,
e~speeially 80 far as the Northern ports are
c0ucernsd-a fact which goes far TO prove
we are rs vet naWar of the great
capabilities of the China market, trade
with which would almost appear to be in
It's infancy.
The American markets have also shared
in the improved feeling, not, however, |
from an exhaustion of stocks, which are
at present sufficiently large, but rather
from the growing belief that cotton must
continue TO advance in consequence of
the altered aspect of affairs. From South
America, too, the reports are such as to
lead TO the belief that, now that politics
have assumed a more peaceful attitude, |
the usual supplies of cotton goods viii be
From this changed position of
the cotton goods market, 1t is evident that
an increased demand for raw cotton may
be anticipated.
II is difficult TO see, however, how any
greatly increased demand can be satisfied
out of preSent The quantity Of
-Otton on hand in Liverpool is very small,
only increased by I3, 200 bales since
h opening Of the year. 1t may be
noted that the average stock held twenty
years ended 1850 was no less than IA 600
bales, the quantity on hand al the pres
7nt time being 365,sUO, or less than half
amount. Even if we take the case
d the last three years, the stock Is at an
unusually low ebb. In July, 1866, the
quantity held was 81 ,O20, 600 bales; in 1867,
-3S.Ue0; and in 1865, 6O3, 0O0-the average
being IS. 900 bales. II has, however, been
gradually declining. until it has reached
-he present low figure. But any increase
IN consumption would force prices up TO
such a point as 10 prohibit shipments Of
goods 70 any great extent, and we doubt
II the foreign markets are yet sufficient
ieugded Of goods to ailoT Of any mate
rial incrcase in prices abroad. For this
we incline 10 the belief that the
activity which has lately set in through
he Manchester market is of a temporary
nature, and viii not be maintained in the
face Of a continued rise in the price ofthe
raw material.