The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-11-20
IN ENGLISH VIEW OF COTTON
The Latest Circular Of Smith, Edwards
s Co.

Smith, Edwards & Co., Liverpool, In their
Monthly Cotton Circular of the 3lst of October,
ult., remark:
We learn that many of the manufacturers
are arranging to work their looms "short
time "the position Of those who have to buy
their yarn is indeed very bad, and holds out no
hope of amelioration but spinners have still
o moderate working margin, and we see no
sign of limiting the consumption of cotton
for the present, and We still estimate the
weekly quantity being used In the kingdom at
O,000 bales. In the early part of the month
spinners Increased their stocks largely, but
they have latterly reduced them considerably;
and as we incline to think good deal Of their
reported takiDgs have been resold in this
market, 1t seems probable that the stock in
port Is larger than the estimate and the hold.
ings Of the trade less than Is generally sup
posed for this reason We do not think that q
long time will elapse before they enter our
market more freely again.
The prospects OF our market continue to
hinge exclusively on the size and development
of the American crop, and we have to report
that, during the month of October, fine pick
ing weather has prevailed in the Southern
States, lending a some what more favorable
hue to the accounts OF the crop. The rapid
increase of receipts has also tended to enlarge
peoples ideas OF the yield, though We scarcely
see that any important conclusion can be
drawn from them. Compared with the e4-
tremely small receipts OF September, there is
no doubt rapid increase, but this was IN
evltable whatever was the size of the CROP
At this time of the year planters must haze as
much cotton to send to the ports as their gins
will turn out, whatever be the size of the
crop, and their deliveries will be regulated
mainly By the price ruling, and whether they
consider 1t fair one In relation to the ex-
pected yield.
The accounts by letter from America up to
the middle OF October are about as unfavorable
as at any time this season, and We scarcely
notice any disposition to increase estimates,
millions. and the October estimate of
the Agricultural Bureau was only three
millions against three aud half millions
tor September; In most of the States the
appearance Of the plant Is represented as
rather worse at the beginning of October than
1t was at the beginning of September. 1t is
true, however, that the weather during October
ing frost has yet occurred, 80 that danger from
that cause is passing away. and we hear by
cable of q disposition to increase estimates,
chiefly from New Orleans, where we are
informed that three and quarter to three and
half millions is now the current estimate. We
thinkit may be safely said that fully
three and and quarter millions Is now the
people In America, and we doubt if the
slate of the crop will justify more than this.
We fear 1t is beyond doubt that over a large
part OF the cotton region the yield Is ire
trievably BAD, the plant lacked vitality and
died out, and even late fall would do little
TO restore it. In other parts the top crop
may mature If the weather keeps fine for some
veyng the whole question, that the yield Is
likely to exceed three and half millions
under any circumstances, while we fear 1t will
not even reach that figure unless remark
ably long open season prevails. For this rea-
son we do not expect further downward
movement at present, and should there be any
slackening In the rate of receipts, there would
likely be Increased activity both here and In
Manchester. The daily movements of our
market will be regulated very much by re-
ceipts, and these 1t is quite impossible to pre-.
dict, depending as they do more upon the dis.