The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-05-14
Extracts from Smith, Edwards d Co.'s
Monthly Cotton Circular.


Monthly Cotton Circular.
LIVERPOOL, April 30.-Our cotton market has
experienced several small fluctuations during the
past month, and closes about 1sd higher than at
It's commencement.
AT the date or our last issue dull !eellng pre-
vailed: midlling uplands were worth l0Hd on
the spot, and 103<al0Id to arrive; fair Dhollerah
was quoted 9zd on the spot. and S7sa9d 10 arrive,
but sudden rally occurred. The American re-
ceipts broke of sharply, and conveyed tle IalSe
impression (which they have often done already
this year) that the crop was nearly finished; at the
same time highly favorable news was received
from Calcutta, which caused heaVy business 10
be done in Manchester. and spinners entered our
market freely, supported by very strong demand
from speculators. For fe v days very sangnne
tone prevailed here and very large tfunsactlohs
took place in cotton 10 arrive from America anu
Bombay; midCiing uplands were pushed up 10
llXd, both on the spot and to arrives and lalr
Dhollerah to ekd on the spot. and the same price
for April-May shipments vi new crop. Inc ieer
ing here was very general that l2d would oe sooh
reached for midding uplands. But an uneXpect-
ed turn occurred in the market; the receipts
again increased ut the American porte. spnners
withdrew from the market, and dull tone en-
sued. The Easter holiday $ put stop to business
for three days, and when the market reopened q
very quiet feeling prevailed; uplands 10 arrive
were offered at lid, and Dhollerah at ga TO 9>su.
Stronger accounts from Manchester producea q
more active demand for some Gays, and prices
OF arrival cotton hardened I'D but this last week
heavy feeling has again set in, caused by an eX-
traordinary increase OF American receipts, whiCn
have run up 10 $1,000 bales against 4o,ooo oaies
last week and o. 600 bales the corresponding
week OF last year. The effect OF this news ls In
creased BY the very large import OF 135, goo oaies
which has raised the stock In port to BOZ GOO oaes
against 35l, 900 bales last year. Prices nave gwen
mildlIug uplands to arrive are only worth WA
lid on the spot. Fair Dhollerah ON the spot Is
worth OK to S4Sd. and April.May shipment to ar
rive 9 5-l6 to sgd per ID.
In our last issue we estimated the consumption
OF the Kingdom to be 52 900 bales per week; since
the Board OF Trade returns were puoisued ior
the first quarter OF the year, showing tne dehpe-
res to the trade $4,000 bales greater than our
brokers' circulars allow; and II this be taken Us
correct, which We have no reason to doubt then
the average delivery from the ports Tor consnmp-
tion during that time was s., 600 bales per week.
aud as the trade were thought then to hold less
stock than on the 1st Of January. 1t follows that
the consumption was over $4,000 bales. we now
incline TO put II Ut 3d. 600 TO $4,000 Tor the Wh"ie
Kingdom comprising about ao,o QUO bales OF Ameri'
can cotton.
There is no doubt that spinpers have this year
taken largely of American cotton direct rom tNe
ships side, and probably some OF this has escaped
being included IN the brokers' statistics, hence
The increased delivery shown by the Board u
Our market during the past month has ribfa!cd
between two poles OF ATTRACTION, %niGm Ia naIe "
drawn il first upwards and then do~nwards IN
precisely the same manner as they have done
since the beginning OF the year. IheSc pocs ol
attraction are America and lndia and just as the
enormous development OF the crop In the former
has from time to time pulled the market down. 50
the miserable out turn OF the latter has produced
sharp upward reactions, and just about counter
balanced the other. "
Turning first to America, we find the stream Of
receipts flows steadily onward In an eStraurd-
nary volume for this time OF the year: the esti-
mates Of the crop have been constantly rising
month or two ago are now accepted as facts.
i've think there Gun be- little doubt now that the
mill nj
commercial crop VIII reacn tnree niiiiiohs y!
ba.es, and will yield surplus to Europe OF about
seven hundred thousand bules over last crop, say
2l5O 900 bales in al against 1850 600 bales last
year, most extraordinary increase being ABOUT
so per cent. the Connnent takg tnucm ann a !,
seems likely that the surplus WIN be dlriuei thus
450 600 TO England, and 10000 TO the Continent:
On this theory we laye sun 10 eSpecs @ Ur,N ivUvvV
the remainder OF last season. With those figures
before us, the irst impression Is one OF astonlsI-
ment that such hlgn prices can be Still maintain.
ed, and that feeling has prevailed In New iofH
all this season.
But when we turn to India the deficiency OF
shipments is prodiglous. up 10 April ~ the eA-
port from Bombay to Europe is $4,000 Dales,
against 538 600 bales last year; and II we make
our calculation from September to correspond
with the American season, we dnd the figures
are a3S 600 bales, against 660.00o bales previous
season TO this we may aad aohav ugne and G eSeyc
comes into view total deficiency OF Zs29oo from
Bombay, to which we must add further decrease
of ia, 600 bales In the export from Calcutta ami
Madras to Europe from September 1. making al.
together 3S5, 900 bales OF deficiency. But this Is
mot ali. The Brazil crop this year has been turn
ing out very poorly, and there ls some decrease
besides from miscellaneous quarters, SO that the
total import Of all kinds OF cotton Into Liverpool
from September TO date, other than American
and East India Is l00, 600 bales short OF the same
time previous season. Hence there has come into
view since September last surplus In receipts In
in America Of fully CO; mn 'ooo'Ooo Oa.es'
Less deficit from other
sources. es...................loO,oc ,oco 435oOo