The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1870-07-01
THE COTTON OUTLOOK.
From tbs New York Shipping and Commerce
List, June 10.

From tbs New York Shipping and Commercial
List, June Is
At the commencement of the current
cotton year, the most popular estimate
of the yield was 1880 bales, but la
ter the receipts so far exceeded general
expectation that the estimate was extern
ded to 5000, 900; and now, owing to the
remarkable lengthening out of supplies,
three millions may be said to be min
imum figure, attentive observers hazar-
ding estimates varying from 100000
to 3,250,060 bales. The result of this
changed aspect of the supply has been a
gradual weakening of the tone of the
market, and fall in the price of
nearly thirteen cents per pound since
September LIST, though carrying with
it very little pccuniary embarrassment
among those who implicitly relied upon
the earlier estimates and extreme values,
from the fact that the currency dollar
has appreciated during the same period
to an equal extent.
Taking the year through, it was worthy
of note that the crop has realized high
err average gold price than the much
smaller crop of the previous year. As
to the course of the prices between now
and the incoming of the next crop, in
the autumn, opinion is varied, though
the majority incline to the belief that
the lowest depth of depression has not
yet been reached ; and the fact that salcs
for delivery during the two months next
succeeding are being made at fully one
cent below current figures would seem
to give tone to such belief The weak
ness Of tone, lately SO conspicuous, has
not alone resulted from the increased
receipts at our ports, but to very con-
siderable extent from the statistical
position Of the article on the other side
of the Atlantic, together with the prom
isc Of material increase in the yield of
the growing American crop. The stocks
in the English and Continental markets
are much above the corresponding pc
Rod last year, while the supplies ahoat
for those markets are considerable less;
but this latter feature cxcitcS no appre-
tensions of prospective scarcity, from
the fact that the change in shipments OF
India cotton from sails via the Cape to
steam via Suez will render available,
during the summer months supplies that
would not be due under the old system
of transportation, till the autumn. And
by the time shipments from Bombay be-
ing to fall off materially, the new Amer
lean crop will be available.
There being, then, every probability
of liberal supply during the next four
months, reaction in prices would not
seem at all probable, while the liberal
rate of consumption in Europe is relied
upon by many to obviate an further de-
cidcd decline. Much, however, will de-
pend upon weather contingencies, in
connection with the growing crop. The
accounts which have reached us thus
far, are in the main favorable. All au-
thorities agree in the opinion that an in
creased area has been devoted to the
plant, and on tho old and worn out lands
of the Atlantic States, great efforts have
been made to increase the yield through
the liberal use &c fertilizers and improv-
cd implements of husbandry. We hear
of some drawbacks to the plant in those
sections, but by taking the whole cotton
region into the account, the Islands"
may be said to be fully equal to the
average of seasons.
Already, we observe, it is freely pre-
dictcd that the growing crop will with,
out serious drawbacks, reach three and
half millions of bales, and while all
specuations as to result at this stage of
the season are practically worthless, yet
it cannot be doubted that tho state OF
feeling thus indicated has some bearing
upon the market.