The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-04-19

usa, T., ,ha sroll estimates Of crop. the eVl.
dence is now Irresistible that inns crop WIN Ply
Extraordinarily large, and yield surplus 10 hu-
rone exceeding the most sanguine expectations
he,i at the beginning OF the year. Cus.Sk. as est
TnaTes in America now range from s,SSO,o0o 10
2 ooO. 600 bales, not including Southern censump,
1iOn saw 700 600 bales increase on last crop. O1
that increase about 900 bales Is already SHOWN
AT the ports so that if those estimates are reacnea
there must yet be an excess Of l50 ooo oales ia s
receipts till the close OF the season. 1gure WHICH
people on this side are hardly prepared lor. we
refrain from expressing az opinion oi our own On
this point beyond remarEIng mat we uo tS ny pa
evidence of that exhaustion Gl erEp towns still
keen large say 1000 bales, anu 50 s.,ons .ne
receipts ut the ports must Oe from M a. o
inc ~, i'm rrceipts and should that occur, IL would
| iT,ien he heavy feeling that now prevails III
our market. ,,,,. =, .ror hoe ,,oen nrn
risrly The opposite OF that in America; each onth
has brought us poorer and poorer accounts OF tAe
weld and instead OF the large surplus which was
expected three months ago, 1t Is beyoilu uouoe i
that great deficiency will be shown III tne SHIP
ments prior 10 the rains, and it seems unlikely
now that we can receive in this country us iiucI
Indian cotton as last year. The shlplhents ol cot
ton from Bombay keep unaccouItaois Sliat' liz unv
total clearances up to the "5th 81 Marcn are Only
I62 900 bales against 3O4 600 bales last year, ana
the amount on shpboard is, we understand, luliy
100 600 bales less than at Ihe same TIME ast Sea'
The arrivals OF cotton In Bombay from the inter-,
or are still on smaller scale than last year, anu
we do not sec how the clearances IN Aprll ana
Nav can equal the same months last year; lnuced
il seems not at all unlikely that the deficiency III
shipments at the break Of the monsoon VIII De
100 600 bales compared with last year. Ihls Is u
very heavy deficiency, and can hardly oc repaired
| even by the canal, for though the Stock III poin
| bay at the break OF TIL. rains Will, no douo'' oe
| stunned or by that route during the monsoon,
| little more cotton can reach BOMBAY tiil octope!
| and November and therefore much OF the present
| Indian crop will not reach Europe TIL next year.
| nn
crop was cut short very largely 10y tne rains, anu m
II seems as il the other crops VIII not luri W. so
well as was once expected ed we SarH unnas rms is
nuorer than usual and there is no doubt tlat ali
| the crops are fur later than usual we ques'Mlui M
| If more than half the pholerah crop can oc eoe
| into i.umbay before the rains, anu Tue Oalauce
will probahly not be shipped till the close VI tls
wear and the beginning Of next one. Inc poor
| deyclepment OF the Indian crop goes ] long way
TO counterbalahcc the excessive supply from rom
| America, and taking a broad view Of the Whole
question of cotton supply, We do not see tlat our
| Spinners will have more than enough. a lartmGr
| consideration has also to be adueu: Inc A1eIi-
| can crop contains an extraordinary proportion
| OF low sandy cOttOD-greater than we nave oeen
| accust toned 10 for many ycars-ana me spihnine
value Of the crop will not rank rs hisli as MS NJ,
| pareut magnitude would lead one 10 expect IL
| very large pnriinn Of our STOCK in the summer
months win lctifisisi Of the low sandy grades uis.
cOlorcd and full of dirt, and these VIII pe almost
unstable. while good cotton may lie scarce aud
in active demand. We expect 10 see an uneHalli,
Piled difference in value between middng and
ordinary cotton for the trade being healthy, SPIN
ners viii not care 10 spoil their machinery and
lose favor with their wOrkpeope from using trashy
cotton.
unfortunately 1t so happens that the bulk OF
| the OonrraYuttec crop will also he OF wrctchta
| onalIty SO that the choice OF cotton TO splnners
| will be narrowed still further.
The Immediate future Of this market VIII PROD
ably lie controlled by the heavy Imports Whlch
| viii continue Tor several weeks, and as The bnlS
or it is pressed for sale as sosn US landed strong
| trade demand will DC needed TO Keep prices
| steady Whether the trade Will abandon Their
hand.to-mouth policy IS difficult tn say, ana II Is
obvious that the course OF our market VIII mainly
depend upon this circumstance. IL receipts hn!'l
| on well in America for q few weeks l.nger spill
ners will feel their position 30 secure that they
will he content TO stand au0f and lei our market
sink, hut if tho crop shows signs OF exhaustion
before long they Will likely buy freely themselves,
and would probably feel disposed to do 50. our
market is now IN the hands Of the trade 10 m cX'
tent we have not seen for y very long time past
The actual stock OF cotton was taken on the
18th ult and proved $4,000 bales greater than the
estimate.