Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-04-04
From the New York Evening Bulletin
Cotton Planters Gnt. Cotton Spccu-
latOrS.

lldCTSe
throughout the South there seems
to be feeling that at New York COM
binations Of spectators are using all
their power to depress the value of the
great Southern staple. We draw this
inference from the fact that meetings
of buyers and planters are being held
throughout the cotton States at which
resolutions are adopted asking that
buyers Of futures viii! in all cases
demand the cotton on their contracts,
and advising producers to keep back
their crops and prevent these combi-
nations from holding cotton enough to
meet their contracts; and 80 thwart
their designs.
The friends of this movement seem
to ignore the fact that, on all these
contracts there are two sides, the
bulls to advance the price, as well
is the ''bears' to depress it-and that
in the long run the side which has the
most correct view of the actual situa-
ton Of the cotton trade must come out
victorious. They also overlook the
consideration that a single 100 bales
willard VIC have seen cases where it
1id-sett1e contracts for over 5000
bales; and indeed there is no limit but
time to the amount of contracts it
might settle. There is no doubt that
the system of contracts i'll vogue here
IS gradually reducing the volume of
business IN actual cotton. A COMPARE
500 OF the number of bales sold here,
SINGS and before the adoption of this
system, would at once settle that point
The oItburst Of feeling among South
erl shippers seems to us without war
rant. Before this future" business
we had the same class Of operations;
there were bulls and clears" as
row; and the change recently adopted
IL the mode Of conducting the business
places the Southern interest at no
more Disadvantage than formerly; in
ton sold by the bears for future de-
livery, the South has now q very i'm
portant advantage.
Il is evident there is and has been
for some time something keeping back
the good cottons; for the actual re-
ceipts, both here and at other sea ports,
show that the cotton received is fully
90 per cent. lower in grade than last
Or former years. 1t may be that this
can bc ACCOUNTED for by the fact that,
with such n large crop as is generally
tho planters have not been
able TO give it the care that is neces-
5ary to produce good crop But,
:, ll,teycT may have been the cause of
.llis deterioration in the grade of the
cotton coming to hand, it is clear that
his fact itself, and not the mere action
j spectators (Who can influence any
market but very temporarily is to be
as n very important cause
10 the decline in cotton.
It is also to be kept i'll mind that-with
5ho large crop in this country Jour
-cceipts now pointing to an inn
9crtant increase over last year,
md an evidently abundant crop in
nearly eli the other cotton-producing
heavy stocks ill Europe,
bat not however, quite as large as last
car at this time,) very unsatisfac-'I
ory trade i'll Manchester, and the fact
hat the expense per loom in building
2cw factories in England is largely in
,ycess of what it was five years ago.
since which time there have been very
cw now works put up)-an facts seem
o indicate plenty of raw material and
scarcity OF looms to spin it. It. is
ruc there have been some few facto- |
les put up IN the South, but they can !
My supply 4 home demand, and arc
'ut as bloom in ], ZOO acre field 4; |
heir effect on the great cotton trade |
an hardly be felt beyond their own |
ieighborhood. b.
Whether the ''bulls'' or "bears'' will |
revail remains to be seen !; but it |
oes seem that the "shorts'' (bears)
ave much in their favor. They, Of !
curse, have agreed to deliver what
hey have not 4; and if the bulls can
ontrol all the cotton, they can make
heir strength felt at the end of each
lonth but can they, with the large
rops, hold enough to do this !? Have
ley the requisite moneyed strength !?
they have, they will certainly tenn
orariiy put up the price but If not,
not the natural tendency from these
9uses towards low prices? Time Will