The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-08-07
THE FIRST BALE OF NEW COTTON.
It is Sold at Ninety:threee Cents Per
Pound.

The first bale of new cotton was re-
ported by telegraph as having reached
Galveston few days since. A further
dispatch from that city says that the
bale was sold on the 18th instant by
Focke & Wilson to Richard & Hawkins
at ninety-three cents, gold, per pound.
matter as follows:
The fancy price of 9S cents gold per
pound paid for the first bale of new cot
ton received at Galveston must have nave
been predcated on the premium OF sow
offered for the first bale by the st. Louis
Cotton Association. A bale OF 4)o ut 93
cents gold is equal to about S42O curren-
cy. # the holder of the bale receive
the $500 prize and then sell at the fancy
price of twenty-five cents per pound, he
will receive $500, showing O profit on
the transaction of $3.50, less transporta-
ton and other charges. But to secure
this he has to run some risks. Had the
weather been clear and warm ne mlgnt
have been preceded by q bale from Lou
isiana or Mississippi. Three weeks ago
we heard of parties at Vicksburg prepar-
ing to rush forward a bale of new crop,
and the planter who sent the first bale
to this market last year was about ma
king the effort to take the honor and the
price. The showery weather, however,
has dispelled their hopes, and we nave
heard of nothing farther from them on
the subject.
We have little or no doubt that this
Texas bale from the Rio Grande will be
technically entitled to the st. Louis
premium if it be first presented, but
rether suspect that, in offering the price,
our enterprising friends up the river
contemplated cotton from some part OF
the wide cotton region to the business OF
which they aspire, and did not imagine
they would fluid competitor for the
prize from the borders of Mexico.
The Ncav Orleans Price Current OF
Saturday last says:
A bale of new crop, from the planta-
ton of Widow Hausman, Dallas county,
Texas, passed through this city on the
18th, by express to New York. A sam
pie of it, drawn at Galveston, was exhlb-
tied at the Cotton Exchange by Messrs.
Clason g. Wieting. This is the bale
which sold at Galveston at SO cents per
pound, gold, equal to about S425 curren-
cy: in addition to which, Mrs. Haus-
man received premium from the Gal
weston factors of 5000, making total OF
S665. We also hear that it was passed
free over the road to Galveston. It is
consigned to Messrs. Fittman & Go; ,
and it is supposed will be shipped to
Liverpool, but may be offered for the
premium of $500 offered by the New
York Cotton Exchange. Another bale
is en- route from the Rio Grande, in the
steamship Harris, detained by ground,
ing in Arkansas Bay. 1t is expected
here to-day. There is some question
whether the Dallas bale is not mixed,
old and new. We learn from the Gal
weston News of Tuesday that another
bale was expected shortly from Colum-
bus. Thus there are three bales of new
cotton in sight. ,a The earliest receipt l at t
this port was In 1850, when the m nrst Ie eale
came to hand on July 5th. The first
receipt last year was bale on the 9th
July, from Texas, on the Guadalou!pe
River, near Victoria. It was full size
bale, weighed nearly 500 pounds, classed
middling, aud was bought at q cents
for shipment to Providence, R. /.