Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-04-01
FOR THE WEEK ENDING MARCH 8.
TQcO IN 800 -.


The circular of w. @. Watts & Co., Liver
pool, bearing date 18th March, is at hand,
from which we extract the following:
The course Of the market during the
past week is due in large measure to the
break down in prices in all the American
markets, enabling holders of cotton to sell
on the spot, and replace at cheap prices by
buying in America The continued large
receipts at, and shipments from American
ports, have brought out large number of
''bears," offering cotton to arrive at prices
considerably lower than cotton on the spot,
which hashad the effect of causing spinners
to buy as sparingly as possible although it
is difficult to see how they continue to buy
SO little week by week.
Since the commencement of the year the
trade have taken from this port and Lon
don oil, ass bales, and assuming their stock
on LIST January to have been $4,000 bales,
which was the estimate of the cotton bro
kers' association, and consumption to have
averaged So, 900 bales per week, their stock
of cotton would appear to be reduced to
| about AZ, 600 bales.
The actual stock, however, in the hands
of spinners is no doubt larger than this,
which is accounted for by considerable
quantities of cotton having been forwarded
| direct to the mills from the ships side, not
reported to the cotton brokers' association,
and consequently not deducted from the
stock here. The impression is gaining
| ground week by week that this has been the
case to the extent of several thousand bales,
and has caused the board of brokers to
come to the conclusion to count the stock
of cotton here on the 18th instant
Owing to the prevalence of easterly
winds the arrivals of cotton have been very
light, reaching only 67, 1879 bales in three
weeks. About 100, 900 to 100, 600 bales are
now due, much of which will arrive as soon
as we have few days of favorable winds;
and it remains to be seen what effects these
large imports will have upon prices here.
Some contend they will be pressed upon
the market by weak holders and still
further depress us, while others are of the
opinion that large import will give such q
selection as will induce spinners to come
into the market and buy freely, more
especially as we are now at what are gen.
orally considered comparatively safe prices
The latter opinion is to some extent war
ranted by the supposed small stocks now
in the hands of spinners, equal to $4,000
bales, as given above. We, however, fee
quite sure their stocks have not been re
duced to such low point, and the mos
reasonable explanation we can give is tina
J our table of deliveries is incorrect. But b.
this as it may, there can be no doubt tina
J spinners stock of cotton are now reduced
to a very low point In the first place, thu
tenor of advices from America has giveI
promise of an abundant supply, and in
duced them to purchase sparingly; and il
the second place, it is almost certain man.
are awaiting the large import before buyini
! freely. The same general causes that hav
induced our home trade to purchase s.
| sparingly since the commencement of tn
. year have no doubt operated in the sam
. direction both in America and on the con
! tinent We therefore think it safe t.
5 estimate that the trade in Europe an
S America now hold some 100, 900 to 120, 90
n bales less than at this time last year.
8 The present visible supply, is 100,
3 900 greater than at this date last veal
2 whereas, by our last report, it was 21O, 90
8 bales in excess of the corresponding perio
| of 1863