Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-09-25

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Watts & Co.'S Liverpool circular, OF the 9Th
instant, has the following: " In our last re-
port we referred 70 the unfavOrable crop re-
ports that were reaching us from America.
Since then these unfavorable reports have
been more numerous and more emphatic.
some Of our own correspondents who, two
months ago, thought the prospect good for a
crop Of 100000 bales have within the past
week telegraphed us, and reduced their eStf-
mates to 8,l25,Og0, and we hear OF some esti-
mates even as low as 3,0o0,090. The reports
generally attribute the damage 70 worms and
rust All our accounts agree in representing
that about two-thirds OF the crop is from one
Ia two weeks earlier thar usual. The open
ing OF the bolls on those plants that
have been stripped OF leaves by the
worms VIII be hastened. Present prices
in the American markets are remuneraive,
and large sales have been made in New York
and other American markets for delivery this,
and particularly next month, which must be
covered. All chese reasons point 20 liberal II
not large receipts az the ports for some time 10
come. II ~ The danger is that we attach too
NIUE 70 the bad crop reports that
nave or IAay reach Us On theother hand ana
~ auec ding the weekly receipts, II should be
borne N mind that the stock at the principal
lnter,.o town was, on the 2d ultlnao, only
a,bo. bales, against iS.0G0at samedate last year,
an & hat there Il, doubtless. considerable less
Cd crop in other interior towns and on plan
cations than last year. Prices IN New YORK
are relatively about Id. per pound dearer
than here in Liverpool, consequently
there is no inducement for Americans
10 ship or for our pinners 70 send ont
orders. American Epinners are said TO be bare
OF cotton, and will probably tax the bulk OF
the early receipts. The markets
are even more bare OF American cotton than
we are here in Liverpool, and will perhaps
Outbld US. Finally, there Is no short Inter
est here in September shipments 70 be COW
cred; a large quantity has been sold snort
here for October and OctOber-NOvember snip
ment, but little or none for earlier shipment.
This feature OF our market, taken in cOnnec-
ton with our present short suppiyO OF Alnerl-
can, should be duly considered. In hapre'
prices for American cotton are now relatively
about I'd per pound desrer than here, that Is,
Swiss and German spinners can now purchase
here at about I'd & n less than IN HaEre.
some American cottOnfls this week being
kind in many weeks. In fact there are lndl-
cations Of decided Improvement Tor 0me
weeks 70 come In our general export oeinaH1.
The visible supply, As shown by our ADle
above, is now ld0,OG bales larger than az TINS
date last year. The stock held oy EnBnsh
spinners we now estimate al 6kioV Da!es'
against $4,000 last year, and 81 900 the year De-
this week, but has not responded fully 70 the
Improvement here. Tn recent accounts rom
the goods markets Of India and China nave
been very disappointing. ~
b New Orleans RoaV1ue, on Sunday, for
some reason emphasizes the f~Ollow1nga
deem n necessary, tor the information Of our
readers, to state that the EXCHANGE OFF
CIAL QUOTATIONS. are not based on any
classification assimilated % that OF Liverpool
but on types Of the Exchange, made up by the
Committee on Classification and quotations.
cotton factors, brokers and buyers. Liver
pool middling sold to-day at ls4c, whereas
the Committee, quoting according 70 Their
types, quoted middling at lS3Fc."