Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-05-26
Tho Chiffon Trndc.

The cotton movement Just now is the
key to the commercial and financial posi-
ton. We therefore give from the New
York ErpreSs of Saturday evening, the fol-
lowing article showing the operations, and
an analysis of the operations, in the great
staple for the week ending Friday evening:
'The cotton movement for the week was
larger, both in the line of receipts and ex-
ports. The receipts at all the ports for
the week were A, 055 bales, against So, ESQ
bales last week, 1886 bales the previous
week, and 50,564 bales three weeks since.
The receipts at all the ports for the expired
| portion of the cotton year reach 2,719. 023
| bales against 3,030, 953 bales for the CORE
| spending period of the previous year, show
| ing an increase this season of Cos, III
bales. The export from all the ports for the
week were 1918 bales, against 1,240
bales last week, and IL ,62G bales the same
| week last year. The total exports for the
| expired portion of the cotton year aggre-
| gate 1881, 933 balOs, against l,31S, 952
bales the corresponding period of the pre-
| vious year. The receipts during the week,
it is true, were over 5000 bales in excess
of last week, but the exports have fallen off
| in about the same ratio. The receipts at
| the ports in the immediate future
will depend somewhat upon the pros
poets of the growing plant. If the crop
| promises well, then the planters are likely
| to market the balance of their cotton with
| great rapidity, but if the new crop should
meet with any serious drawback, land
there are already complaints from some
sections,) the planters will hold their
cotton for higher prices. The great bulk
OF the cotton crop has now been marketed,
and the season is steadily drawing to a
| close. The falling off in the cation ex-
ports has been felt at this point during the
| week, and the bankers have advanced
the rate Of foreign exchange to within
a fraction of the specie shipping point for
gold coin. Already the Canada silver has
gone forward, and to-day the first INSTALL
ment of gold bars was shipped, the steamer
Donau taking out S945, 900. This shows
the important bearing of the staple of cot
ton on the foreign exchanges of the coun-
try, but this is likely to be still further IL
Illustrated in the immediate future. The
action of the Berlin Bourse has not only
prevented the negotiation of any new
American railroad loans in Germany,
but it has placed some of the bankers
short of exchange, as many bills were
sold against railroad bonds sent over to
the other side to be marketed and which
cannot aow be negotiated The summer
travel to Europe requires large amount
of exchange, and in the absence of COM
mercial bills some of the bankers have
been drawing on their credits. American
Government and railroad bonds have been
the medium on exchange, to large ex-
tent, in connection with cotton,
for long time past but now
Government bonds are higher here
than in Europe, and some have come this
way, while new American securities have
received severe blow on the other side,
and the cotton exports are steadily de-
creasing This leaves the country the al
tentative of shipping produce, other than
cotton, or gold to Ill up the gap. As an
instance of the dullness in the matter of
shipping general produce to Europe, we
may mention the fact that during the week
some of the European steamers from this
port have gone out with stone ballast, ow-
ing to the small amount of freight and the
low rates Offering. The stock of cotton at
all the ports is 81, $40 bales, against
3d., 399 bales last week, and 1aS, SIG bales
this week last year. The stock at the in
terror towns 5 80, 700 bales, against CD, lis
bales last week, and 81, 572 bales this date
last year. The stock of cotton in Liver
pool is 500, 900 bales, against 3S3, 600 last
year. The stock Of American cotton afioat
for Great Britain is 122, 900 bales, against
1916 bales last year. The stock of
Indian cotton afoat for Europe is 1917, 600
bales, against AS, 900 bales last year. The
cotton market at this point was less active
during the week, and prices declined / to
&c for lots on the spot, and to 1c for ia
tura deiiyerv -