The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1869-03-25

The 9uPPIy-The ASroSPece'
10 Prices.

We have before us the monthly GOV
ton circulars of Messrs. Ellison q Lay
wood. and Messrs. Smith, EdwaIus 49, -
Co., of Liverpool, which give a cleai iS
insight into the condition OF the ~ -
erpool cotton market and the t-aue ~
Manchester. They say: 40
The course of events, during w
past month, has been very discourag-
ing to consumers. In our last rePol1
we remarked that the prospects OF SUP.
ply were not at all satisfactory Du.
we entertained the hope that Ihc9
would improve as time advances, on.
impression being that the receipts ~
the American ports would shoIIiy
show some increase upon the arrivals
of last year; but we regret 10 sIdte
that this expectation has NOT only OeeI'
not realized, Bat the uery rererse has trd'lS.
pired, inasmuch as the receipts nav
been considerably less than thoseoI
the corresponding period OF looo, the
arrivals at the American ports durlnS
the past four weeks being only 26O,-
600 bales, against $4,000 bales in re-
bruary, last year. On the other hanC
trade in Manchester has been so bau'
AID the determination of home buN-
ers and shippers not to pay even pres
ent rates, except by small parcels, so
unmistakeable, that the opinion whlc9
we expressed a month ago that "small
rs is the probable supply for the COM
ing few months, we doubt whether II
will be absorbed on the basis OF Is. per
pound for middling American, especl,
ally with the prospect OF increaseu
supplies further on in the year., Is
more generally entertained now than
il was then. \ 1t is in this want of faith
il hn ahflffT~ VfltinUnnGz nI the
consumers of cotton products TO fol-
low the upward movement OF prices
beyond the present currency that mas,
during the past three weeks, curbed
speculation and weakened prices, not
withstanding the undoubtedly strong
character of the advices received from
America. Week after week the re-
ceipts have shown a considerable de-
felt rs compared with the arrivals Of
last year, and yet prices have declined
nd. per pound, from the rates current
three weeks ago. while the market in
the meantime has been in a miserable
sensitive condition.
The face is, that operators OF all
classes have been influenced by a dread
of repetition of last years collapse.
1t may be perfectly true that the sup
ply OF cotton for some time TO come
will fall very far short of the quanti-
ty requisite to enable our mills TO
work full time; but if past experience
has taught one lesson more clearly
than another, it Is, that the products
of six days work per week can only
be disposed of at prices much below
the basis of one shilling per pound for
middling American. Last year, altho'
cotton was forced up to l3d. per pound
goods did not advance beyond the ba-
- Of Ill II EanIunn VshfIn
at the present price of cloth, cotton.
instead of being at I'D. per pound,
ought not to be above l01ad. per ID.
No wonder, therefore, that trade is
bad in Manchester; that failures are
constantly occurring in the manufac-
turing districts; and that spectators
of substance show "A thorough disincli-
nation TO touch the raw material, eX-
cept with'very great hesitation. Fur
thermore, not the least unfavorable
symptom of the condition of the trade
is the circumstance that, although
goods suitable for export can be OBJ
tanned at prices id. II u below the
current value of the raw material.
shippers steadfastly refuse to purchase
except in quantities insufficient to
take off even the present curtailed out
turn of producers. Ii Is obvious that,
in the absence Of improved prospects
of cotton supply, the only remedy for
the present unsatisfactory state of
things is persistent perseverance in
the short time movement; this, by q
process easily understood, would very
shortly bring about an equilibrium
between the price of cloth and the
cost of the raw material.
So far as regards the matter Of cot
ton supply, the prospects are l7orSe eccn
than they ,cere a month ago, RdsHuch as
HerecciptS at he american ports hare
proceed 10 b. much smaller than icds an
tfcipated, while the accounts from In
dia and other producing countries re-
main without favorable change. IL
may be that the arrivals at the South,
in the course of the ensuing month
wilfshOw some increase upon the re-
ceipts during the corresponding period
of last year. but this is by no means
certain, and the balance of probabilities
indicates that the imports into Great
Britain from America will be less
this season than last.
The diminished takings Of the trade
during the past month have prevented
any reduction in the stock in this
port: but meanwhile the stock in
London has undergone considerable |
decrease. The ''vissible supply" is I.
somewhat larger than at this time last |
year; but il is important 10 note that /
spinners hold 10000 to 10000 bales |
less than they did at the close Of Feb /
ruary, 1865, while the stock OF goods |
i'll Manchester are also less now than
they were year ago, The position
of the staple Is, therefore, one of great
and IL will require very care
full buying on the part of the trade TO
keep prices from advancing. or
course three or four weeks Of large re-
ceipts mt the American seaboard would
change the whole aspect of affairs, but
thisls a contingency too uncertain TO
influence the operations Of prudent
people either here or Ia Manchester.
As near as can be asccrtained the
visible supply for Europe is As follows
with the figures for 1858