The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-08-03
THE COTTON OUTLOOK.
Supply, Consumption and PrEces-A
Bull View OF the Question.
The Liverpool Courier, Of July Is, prIn

! The Liverpool Courier, Of July Is, prints
the following communication
T S1R-The crop question must remain unset
tied for at least eight months to come, and 10
making O guess, 1t will be safest to attach nc
credit to either the bears or the bulls, the for
mer talking OF four million and the latter ol
three million bales, whilst the authorlta.
tive estimate of the Agricultural Bureau
leans to the smaller quantity. 1t Is enough
for the purpose of to-day to assume that
the next crop will not prove as prolific as
bear cannot muster courage to dissent. What
i would point out to-day Is the extraordinary
strength of the statistical position Of the arti.
7cle, more especially In reference to American
descriptions; but to guard against the frequent
mistake of expecting undiminished deliveries
from diminished supplies, shall ut once as
sumo that the rate OF consumption, as shown
by the brokers' returns, Is over estimated to
the extent of 1000 bales per week In American
1t expedlent they might, for nm entire month.
suspend all further purchases and yet keep all
their spindles.runhing. Let lis see what, In
such an extreme case, would become Of the
statistical position, and whether that would
save lis from the predicament of high prices.
According to the brokers' statement
OF last Friday, the stock OF Amert-
can cotton In port was. 1895, oU0 oales
From this time to the emil OF las.
|. year there was imported the ex-
traordlnary quantity OF $4,000
+, American bales. As we shall get
(. none from France this year. aud
as the crop Is late, We cannot hope
for over 1000 bales.
Giving supply OF American to the
/ 3lSt December 855, 600 bales,
Up tO this time the trade have taken
$4,000 bales American per week,
but taking their wants at $1,000
bales which Is probably below the
reality, they Will require In q
weeES.... .S6i, 600 bales.
and If they were to abstain from taking any
American cotton for four weeks. they would,
In the remaining 20 weeks, at SO, 900 bales, re-
qulre 100000 bales; and only In this case
should we be able to close this year with
about the same stock as last year-a sorry
prospect enough In the face of a smaller sup
ply next season.
Now let US look at 1t in another way. The
present stock Of American cotton Is $4,000
bales larger than last year, which represents
as nearly as possible the quantity we after
this date got from France. We therefore
at this moment have no more at our dis-
posal than last year, when the dellve-
Ties to the trade from this date to the 31st
December were only q, 800 bales per week. and
when, nevertheless, from sheer scarcity, In
spite OF war and large crop estimates, prices
were. In the course OF the autumn, forced ND
to Gid. and l0i. for mlddling Orleans, the year
closing with stock of only 100000 bales
American, Notwithstanding the unprecedented
extent of new imports received within the old
year. What price will this autumn reduce the
weekly deliveries from $4,000 bales to 27, 800
bales OF American cotton?
OF East India cotton we have only 5000 bales
more at sea this year, but we hold $4,000 bales
less oil 1t on the spot "a grievous deficiency.
which is only partially made up by surplus
of 70, 600 bales miscellaneous.
Yours, &C., AN OLD IMPORTER.
Liverpool, July II, 1871.