The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-08-19
CONSUMPTION.

The consumption we would still put at
SO, 600 bales per week. The advance in cotton
has not affected it go far, and we have obtain
ed information about the Increase In spindle
power, which appears to justify that estimate.
It seems that an addition of about 100000 Of
spindles has been made since ls6s-most of
this we should say In the last twelve
months. This is not entirely from the
addition Of new machinery, as s.many old spin
dies have been brought into play, still, on
the whole, 1t indicates an increase In con-
suming power of from eight to ten per cent,
and there Is also no doubt an Increase IN the
amount OF turned off spindes In consequence
of the profitable nature of trade this year.
There are considerable number OF new mills
In course of erection, chiefly at Bolton Zine
spinnlng) and Oldham (average counts and
it Is thought that lie machine makers can
turn out about 100000 new splRdles annu-
ally, and at present they are encum6ered by
more orders than they can execute. 1t there
fore seems probable that we are drifting To-
wards consumption OF 1000 bales weekly
next year, unless trade becomes so unprohta.
BILE as to restrict consumption. and II would
appear that crop of three and hall millions
is very necessary for the welfare OF Lancashire
next year, while four millions would scarcely
produce gut of cotton.
ESTIMATE OF THE AMERICAN CROP.
The crop has still to pass through three criti-
Cal months; these were extremely favorable
last year, and very favorable the year before.
Should they be again highly favorable this
wear, public opinion may settle upon St to 81
millions in October: but should they be Lnfa-
vorable, 1t is just as likely that public opinion
may settle upon three millions. To the best
present between these figures, it being entire
" weather question.
STOCK.
The next most important element In FORM
ing judgment of our market Is the stock now
held BY the trade. On that subject various
opinions prevail, but 1t Is universally believed
to be very large. II Is known that all the rail-
way companies and carriers hold unusually
large stocks, and the general belief Is that
their hands. We are inclined to look at lt IN
this way-the deliveries to the trade from Llv.
erpool and London to date are almost 64,000
bales per week; the consumption we believe
to have averaged $1,000 bales, and 80 IN
the thirty weeks that have elapsed this
bales of stock. This is large figure,
compared with the small stocks spin
ners have been accustomed to hold for
some years past, but 1t Is not enormous when
trade Is profitable and cotton at moderate
price. We do not think the trade will surren.
der all this stock, except under the pressure
of very Improbable trade, but they may re.
so If we have constantly favorable accounts
from America the next three months, and they
become relieved from the tear OF q short crop
next yea. II, however, bad weather reports
again come 10 hand, or public opinion taxes
another of those sudden changes II often does
In America. and low estimates OF the crop
again come into the ascendant, we think spin
ners will be unwilling to reduce their stocks
materially, and will only be driven to DO 30 by
further rise In prices.
PROSPECT OF ''sHARP ADVANCE"
From now until the end Of the year we will
have small import of cotton, and our STOCK
can only be kept from running down rapidly
BY policy Of abstention on the part OF the
trade If they use up their stock In the next
three months, that In Liverpool will not be re-
duced very seriously; but If they hold to their
stocks and buy their weekly consumption, II is
evident that our stock will run uncomtortabiy
low In October and November, and we would
be in peril of a sharp advance If uniavorable
news then reach US from America.
One thing is certain: we cannot supply the
present large consumption OF American cot
ton to the end Of the year, and the trade must
be thrown more largely upon Surats. This
must be brought about by an increasing mar
gin in price between the two kinds, and we
see this process already going on In the more
rapid decline that Is taking place In Surats.
THE EXPORT DEMAND
has greatly fallen of, owing to the continent
being so literally supplied, and 1t Will likely
continue dull tor some time; but If prices keep
moderate. it Is likely to revive In September
or October. Trade Is as highly profitable on
the continent, especially In France, and the
increase of consumption Is relatively greater
than In this country.