The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-07-15

tations here. and dull tone has ensued, and
the little Improvement gained the two preced-
ing days is lost. We close fiat at lid to 1l3d
for upland and Orleans on the spot, and Ttd
for fair Dohllerah.
In Manchester during the past month 8
very quiet tone has prevailed, and prices have
declined; but still there has been no depres-
sion, and fair demand has existed all the
time, which has carried off the production
without difficulty, and there has appeared,
from time to time desire to place contracts
on large scale, which has only been checked
oy the dullness of our market. Altogether
the position of Manchester has been sounder
lts depressed state during the spring months.
Though the accounts from the East and gene
rally from foreign markets are not very en-
couragtng, yet merchants. appear willing to
operate With more confidence, and 1t Is EVIL.
dent that no short time need be expected this
year, and probably not any serious accumula-
tion of stocks. At the same time the busiHess
doing is not satisfactory to producers. The
margin between cotton and cloth is quite In
adequate, and this becomes more apparent
when II is recollected that an enormous rise
has taken place in the price Of Goals, and gen.
orally In all articles used In mill, 80 that the
position of spinner ia worse than the margin
Indicates There seems no prospect Of any
change for the better during the remainder of
the year, and the hopes of the trade must
centre on the next American crop.
The prospects of our market have changed
somewhat for the worst since our last Issue,
owing to the highly favorable accounts reach.
Ing us from America about the growing COT
ton crop. The report Of the agricultural
bureau shows an increased acreage equal to Is
per cent, which is confirmed by private ad.
vices. and 1t is alleged that the appearance OF
the plant all through the country Is excellent
and considerable portion Of the seed used
did not terminate until after the middle OF
Nav, owing to drought; but genial showers
that occurred In the second half OF May
brought up that portion, and though 1t will be
later in maturing than the rest of the crop. We
are informed that the fields now present
everywhere o most promising appearance.
mates begin to be indulged In, and four mil
lions is freely mentioned for next crop. We
consider 1t entirely premature to form any
such opinion at present. Two-thrds OF the
critical season have still to be passed, and we
believe that any figure between 81 and A MIL
lion Of bales ls possible, according to the re-
mainder OF the season.
To guide opinion, We may remark that the
last crop In actual growth cannot have ex-
to believe that 100, Q5O to 100000 bales were
Carried into It from The previous season, and,
therefore, the entire growth OF the previous
year must have been Al millions, difference
that appears almost Incredible. AS the de-
crease OF acreage was about l23 per cent,
while the deficiency Of growth was nearly 4o
per cent, IL is evident that the difference OF
season was the main cause. We consider that
1870 was the best growing season known IN
MI
poor one, and therefore the average OF the
two crops may be taken as fair guide to this
one. This would give $3.50, 900 bales as tho
probable figure, plus about per cent. add.
tional acreage, say $3.50. 900 oftotal growth, or
81 millions commercial crop, and therefore we
conclude that 1t will need an extra good
season throughout to give four millions.
present is the remarkably large stock held IN
the ports, say 1,242, 900 bales In Liverpool and
London, against 793, 900 bales last year, q re-
suit that appears almost incomprehsDslble
when we remember the prodigious falling Oh
In the American crop. Nothing can ahoW
more clearly the wonderful effect Of high
prices in hurrying forward supplies and econo.
MIXING consumption. The stocks In Inc iead.
Ing Continental ports also show an increase OF
about 200, 900 bales over last year, but there 10
the important set-of of q deficit OF 100000
bales il cotton afioat, taking the latest tele-
graphic dates. and considerably less to be
sflfrped from all the producing countries than
after this time iasC year. Tue nAot 10 wo haso
drained our sources Of supply far sooner Than
usual, and We have less to get Tor the next
five months than In any year since the Ameri-
can war. Everything at present consplres 10
make our visible supply look as large as posst-
BILE; splnners are holding far smaller stocks
than last year; the producing countries are
emptIed, and the average weight OF the oales
Is much less than last year.
The spinning capacity Of the cotton in the
world Is undoubtedly far less than last year,
and q greater proportion Of the STOCK held
cannot aid materially In meeting tne consumP-
ton this year. We expect from this time Tor
ward rapid and continuous decline In stock,
and our supply of long-staped cotton must be
extremely small during September, OCTOBER
and perhaps November. At the same time, it
Ia evident that great economy Will De prac-
ticed aud no surplus stocks held by spnners
80 long as the growing crop In America looks
30 well, and little stimulus to speculation VIII
apparently be given In the second halt OF tnls
year, unless, unfortunately, some mlenap oe-
fsll the American crop. There must, however,
be q steady trade demand, and probably an
Increasing export demand, as the year goes
on. and it seems not at all unlikely that prices
NAV exhibit comparatively little change for
considerable time to come. The present enor-
nous difference between American aud East
Indian cotton seems likely TO commune
throughout the autumn, for spinners snow
nearly 90 much reluctance as ever to consume
the latter. ..,-
Some anxiety is now felt about our gram
crops, owing to the long continuance OF cold
and wet weather. So wet season as this has
rarely been known, and not dozen days Of
summer heat have been experienced this year.
The green crops, however, are looking wen,
and these are now quite as Important to tnls
country as cereals. and there Is still time to
make fair crops OF the latter If the autumn
proves dry and warm. The weather Will now
be watched with great interest, ior IL VIII oe .
serious matter If q change for the better does
not soon occur.
Great satisfaction Is felt that the arbitration
on the Alabama claims will now 90 on as tne
Indirect claims are officially Withdrawn.
THE NEW YORK COTTON TRADE.