The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-02-22
| for any other quarter. The demand for yarn for
| expUrt TO Germany and the Levant has also been

export TO Germany and the Levant has also been
good.
Spinners have not had, for the last two or three
months, 8 small margin Of pront on the pr0duc'
ton OF most kinds Of yarn. but the rise In she
price OF East India cotton Is leaving little or nc
advantage to the producers OF the lower couhts
There has now been rise from the lowest POM
OF November OF Id to 1hd p to on Surat coelo",
| while the average price Of America mas scaIcely
changed. Manufacturers, as class, are ~
worse position than spinners, tnose WHO hafe ~. '.
buy their yarns are eeneraiyb ne wSSe IL to work
| fnll time and we consider the consumption quite
as large as ct the beginning OF the year, say 65.-
900 bales per week for the klngaom. ine takinRs ,I
nooi and London have been $1,000 bales ner week,
md we consider that spinDers are now moderate
iy snpplicd with cotton In this connection 1t may
he interesting TO mention tnat severai iaCtoIies
| have lately changed hands at low prices especial
| " in Preston, some OF which have long been
standing idle, and as these are likely to be set 10
work. the tendency is still towards an increase OF
consumption.
the prospects OF our market have been can
vassed during the past month with an avtdity we
have seldom witnessed. and statistical statements
without number have been issued, many oil them
aiming at conclusion favorable TO high prices.
Our last annual circular has been criticised with
unusual severity on the ground that It fore
shadowed greater increase In cotton supply for
this year than the facts Of the case warranted.
We make free to remark that We offered to the
public the best information In our possession, and
presented it exactly in the light 1t appeared in to
the mind OF the writer, and we may add that no
which were not the faithful reflex of those held
by the writer. 1t has been objected that our esti-
mates OF the last American crop was too large
No doubt 1t was for the simple reason
large o crop. Our information on such
O Subject Is unavOdably drawn from Amer
ica- Last season the opinion was universal in
America that the crop would be 10000 bales or
a,1 Q1N a IN
outside figure, having an impression that the
Americans were toe sanguine. This year our
best Information leads us 10 expect yield Of two
and threequarter millions and instead OF con-
clu,linr that his estimate will be 100 large simply
because the last two seasons witnessed that mis-
take. we think the tendency Is more likely to be
the reverse for it usually happens that when pub
lie opinion goes astray for two years In one dircc
tion, it turns to the opposite extreme The follow
ing year. We think that the course OF receipts
thus fer fairly points 20 crop OF two and three
quarter millions, say an increase or 100000 bales
on last year, OF which excess 100000 bales are
already shown in the receipts at the ports.
And should The crop reach this figure
we still think $4,000 bales OF the surplus will
come to England. Much has been made o! the
circumstance tnat n large portion of this surplus
arrived prior TO 5lst December; the fact IS, the
import or American cation from 14th October to
Slst December was 232, ,U10 bales against 174.0O0
bales the previous year. showing an excess OF
IS coo bales; and we see no reason why an equally
great eXorss should not appear In the receipts OF
new crop at the close OF the present year. Steam
is employed every year more and more largely in
the American trade, and we expect that the crops
will each season he delivered more quickly In
Europe, aud therefore we think 1t not Iar to. de-
duct from the surplus OF American cotton this
year the extra quantity that arrived before lie
slst December. HH1 vi
One point has operatcd strongly Il. .avOr Of our
marker. which We did not foresee. We refer to
the small shipments from America during most or
January. Tile planners have Seen very sangninc
of an advance. and have held for such extreme
prices that The stocks have accumulated at The
ports and now reach 100 900 bales, aganst @Soo9,
bales last year. This circumstance VIII prevcat
our stock Increasing in the early spring ncnihs |
SO much as we once expected, bnt sooner or later
heavy Imports will taEc Place from America, Tor
stocks VIII 1os be hc In the ports far inIo me |
year, anu We think 1t is only question OF II fv3
months till the excess Eo~ existing iH ..Mc:lca
be transferred to this siie Of The water.
Turning to India, We arc s0rSy 70 report that
the prospects or supply have a'sert ic! Ihc .r~L
since the beginning OF the year. We hn"e rc
celved canHrli.aiion CT lie serious damage 'lonc
to the Oomrawuttee crop by unreasonable rains
In December and the early pirt OF January. Tie |
weather IN India has been most extraordinary we
may almost shy unprecedented. for the lime NJ
the year, and IL has somewhat shaken the hopes |
OF very heavy crop which we;c well founded u
month ago..