Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-11-24
The British Cotton Trade.

The circular of Messrs George Fraser,
Son & Co. says of the present and pros
pective condition of the British cotton
market:
1.-THE downward tendency of prices has
been arrested, but without leading to any
actual improvement. In fact, the amount
of business doing has been but insignii-
can't, buyers having generally satiated or
anticipated their wants by their previous
low purchases, and not being tempted to
renew them under stimulus arising mere
ly from speculation in the raw material.
The experience of the course of matters
after the advance in August upon the great
German successes is not favorable for that
and the excessive supplies to the East,
Calcutta especially, forbode no good to the
results of shipments, but rather glut of
the markets, and the continuance of like
unfayorable quotations as we have been re-
ceiving for many months past. People
seem, in fact, at q loss to conceive why
prices should rule higher here for the ma
nufactured article, or in Liverpool and
elsewhere for the raw material. Notwith-
standing the large deficiency in the export
of cotton from the eastern side of Igdis,
notably from Calcutta and Madras, and
which deficiency is not likely to be made
up at the prices now ruling on this side,
but which may not unlikely be somewhat
further augmented next year; notwith-
standing also deficit of 100, 600 bales from
Bombay, which, however, will not impro-
badly be made up, or turn into an increase,
also a considerable decline in the ship
ments from Brazil, West Indies and other
smaller sources, the increase in the Anne
rissn crop of about 800, 900 bales has not
only covered or made up for the decrease
in the previous years supply below the
consumption, but has also made q not in
considerable addition to the stocks of Eu-
rope. And as the advices from America
point to q further increase this year over
last, ranging from 200, OOOto 5OO,O 900 bales,
or as some wildly estimate even much
more, we may look for further augmenta-
ton of the stock during the next twelve
months. The picking season in America
is highly favorable; the average period for
killing frost, which could now do no harm,
is past. On the other hand the continental
consumption has been curtailed. Accord
inG to Mr.. Otto Trumplers statistics, the
consumption of the continent has been re-
duced during the season ended Both Sep
TENDER, from l, 916, 900 bales last year to
], 1927, 900 bales this year, or decrease of
289, 600 bales, and this has arisen chiefly
from the war Since it broke out the
average weekly deliveries have diminished
from 81 487 to 21,692 bales weekly. In
all probability there will be some increase
in the consumption of the United States
when trade is recovering, perhaps little
in this country, and in the non-belligerent
countries of Europe where trade will natu-
rally be benefited by the war expenditure.
But looking the whole question broadly in
the face, there would seem to be no valid
grounds for expecting that, apart from the
and short-lived advances dur
ing the many fluctuations we may look for,
the main tendency will be towards larger
stocks and perhaps lower prices Of cotton.
And in our market the production is too
large to admit of other than very moderate
rateeA