The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-07-24
THE FLEECY STAPLE.
THE FIRST BALE OF NEW COTTON.

TIE FIRST Bale OF NEW COTTON.
It is Sold at Ntnety-three Cents Per
Pound.
The first bale of new cotton was reported by
telegraph as having reached Galveston few
days since. A further dispatch from that city
says that the bale was sold on the 10th instant
by Focke Wilkins to Richard & Hawkins at
nlnety-three cents, gold, per pound. The
New Orleans Times notices the matter as
follows:
The fancy price of SO cents gold per pound
paid for the first bale OF new cotton received
at Galveston must have been predlcated on
the premium of $500 offered for the first bale
by the st. Louis Cotton Association. A bale
of 400 pounds at SO cents gold ls equal to about
$420 currency. If the holder of the bale re-
ceive the $500 prize and then sell at the fancy
price of25 cents per pound, he will receive
$500, showing profit on the transaction of
$50, less transportation and other charges.
But TO secure this he has to run some risks.
Had the weather been clear and warm. he
might have been preceded by bale from
Louisiana or Mississippi. Three weeks ago
we heard of parties at Vicksburg preparing TO
rush forward bale Of new crop, and the
planter who sent the first bale to this market
last year was about making the effort to take
weather, however, has dispeled their hopes,
and we have Leard 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 1t be drst
presented, but rather suspect that, In Offering
the price, our enterprislng friends up the river
tod vnQr
Wide cotton region to the business OF which
they aspire, and did not imagine they would
find competitor for the prize from the bor-
ders OF Mexico.
The New Orleans Price Current OF Saturday
last says:
A bale of the new crop, from the plantation
of Widow Hausman, Dallas county, Texas,
passed through this city on the 18th, by ex-
press to New York. A sample OF it. drawn at
Galveston, was exhibited at the Cotton Ex-
change by Meesrs. Clason & Wieting. This Ia
the bale which sold at Galveston at SO cents
per pound, gold, equal to about $426 currency;
premium from the Galveston factors OF $500,
making total of $665. We also hear that It was
passed free over the road to Galveston.
II is consigned to Messrs. Fattman d Co., and
it is supposed will be shipped to Liverpool,
but may be offered for the premium OF $500 Of
iered by the New York Cotton Exchange.
Another bale is en- route from the BIO 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 Galveston News OF Tuesday
that another bale was expected shortly from
Columbus. Thus there are three bales of new
cotton In sight. The earliest receipt at this
port was In 1860, when the first bale came to
-. Tel, E,k AHof 1ooFu
was a bale on the 9th July. from Texas, on
the Guadaloupe River, near Victoria. It was
full size bale, weighed nearly 500 pounds,
classed mlddllng, and was bought at ~ cents
for shipment to Providence, r. !.
The Cotton Crop In the Southwest.
The Mobile Registrar Of Saturday, the goth
instant, says OF the late destructive freshet In
Alabama that ''the heavy and genera! rains
throughout the State have done great damage
to the crops. Most Of the plantations along
the Coosa, Tallspoosa, Alabama and Warrior
Rivers have been inundated, resulting most
seriously along the latter, as almost the en-.
Tire crop 10 reportorf r1,innd The low lands.
also, through the Interior have been generally
oyerfown. It Is estimated that the cotton
crop of this State will be decreased about
$4,000 bales by this sad misfortune, but we
encourage the hope that the injury may not
be 90 great; and 1t will be better to wait for
future developments than rush to conclusions
at this time. Caterpillars have certainly ap-
peared, though the injury done ls as yet
limited. The corn crop has also been con-
siderably damaged, and the yield will be much
less than was anticipated ten days ago."
The New Orleans Price Current of Saturday
last mentions that ''the weather has been sea-
sonable, but not unusually warm, with daily
showers. The previous worm reports have
been confirmed and have become more gene
raj. in addition to which accounts of disastrous
floods have been received from Alabama, indi-
eating the loss of large portion of the crops
in the low lands of the Alabama, the Bigbee,
the Warrior, the Tallapoosa, the Coosa and
other small streams. The crop prospect is
certainly less encouraging than last week, and
outside estimates are generally dropped.
From Texas, on the contrary, we hear of none
but the most favorable reports. Worms have
appeared there also, but the plant is 80 much
advanced and its foliage 30 tough and matur-
ed, that they cause but little uneasiness, and
the prospects are that the yield will be largely
In excess of last year."
The above are two Of the best Informed au-
thorlties In the Southwest.
TGE Ea1RTCULTUR4L REPORT.