Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-02
Statistics in Regard TO the Leading
Articles Of Produce.
A Review of the Prominent Branches
Of Business.

A Review of the Prominent Branches
Of Business.
According 10 custom, We lay before our
readers this morning, review Of the p. ia
cipal branches of trade of Nashville for the
commercial year just closed 10 making up
this review, we have labored under the
same difficulties that tended f,rner
efforts In this direction, and at the close o
each succeeding year, when taking retros-
pect of the past, we are always reminded OF
the advantages that would result from the
organization of well regulated chamber of
commerce. Until such can be established,
much of the valuable statistical information
regarding the trade aud commerce of the
city will be lost.
We feel assured, however, that our infor.
nation is as correct as could be obtained
under the circumstances, and We also feel
warranted in congratulalioa upon the gen.
eral prosperity which has sttended the trade
of Nashville. The volume of business ex-
hibits a satisfactory and healthy condition,
and In msng departments OF business
large increase over previous years. With
out however, taking up more place ia the
way of introductory remarks, We will COM
mence our resume of the year with
The Cotton Trade.
The year beginning with Sept. 1, 1872,
and ending the 31st Of August, 1873, will
long be remembered by sllIwho have had any
connection with the great STAPLE, either as
planters, spectators or factors. By the two
first because of low prices and severe losses,
and BY the factors from the various causes
attending long continued decline, greatly
aggravated by the miserably low quality of
the crop, and the unprecedented amount of
mixed packed cotton.
The year opened with favorable prospects
for renume. alive prices to the producer,
and reasonable Oh noes Of profit tc the
speculator. There was sharp decline in
September, but it was, how We, expected
TO occur when the crop began TO move, and
although it went from 49, to Tic for low
niddling 10 short time, the losses were in
significant, as but little cotton was handled
while that was being sccc mplisbed. From
October to January prices were remarkably
steady, ranging from III to is cents forlow
middliDg, with other grades selling close up
to the better qualities. -
In January quite a speculative feeling
was developed, based upon the short crop
ideas that began to gain more general conf
dence, owing to marked falling of in re-
ceipts. The highest point Of the season
was reached late in The month, and from
which, so soon as we passed into February
there commenced gradu | s'setding" OF
the better grades, and more marked de-
cline of low grade, which before a
great while resulted in ealam-
itious fall to extreme low fgures. l.
was, however, soon ascertaihed that the
s1ight receipts" were due TO the epizootic
and excessive CO wea her, and not TO short
crop. The receipts continued TO pour into
the ports upon a scale astonishing even to
those who from the first were inclined to
believe in three and tbree-quarter millions
and over, and 70 the utter discontinue of
those who had been operating upon basis
of three and one-half millions.
This unlocked for turn in affairs threw
the markets not Only Of this country, bu,
also of Europe, into chronic state OF dull
ness from which there has been NJ healthy
recovery, but Tow and then faint spas
modic movement, the only result of which
was to infuse just sufficient hope into hold
ers to induce them 10 wal. for a while
longer. Owing to the comparative scarcity
Of good cotton the higher gr0des suffered
but little, but the decIire upon The lower
grades was rapid and cslsmitOus, upon
ordinary and inferior 30 to 40 per cent. and
fully so per cent. on "jog tall" Good or
binary was greatly depressed for awhile,
but recovered sharply when the "bulls" in
New York began their movements for
acornering" the summer months. The dlt-
ference between the low and better grades
for the last half of the year has been such
as was never before known, causing heavy
loss aud great dissatisfacti IN. Planters and
shippers, fall G to comprehend the situa-
ton, were slow to accept as reasonable, or
indeed, UNSUITABLE sales of cotton, Two cents
below low middling, which, but short time
previous was worth within &C OF that
Grade, and when it came to sales of cotton
5, 6 and &c below low middling that Two
months before would have sold within
i. to &c of the grade named, 1t CURED
GREAT coDida .ce In tn, (. ctor making the
sales to enable the owners TO AVOID susplc-
ion of efJul play." They we're forced how
ever, in time, by the '.inexors 2le logic ca
eventsD TO admit that tb3 decline was an
actual fact WHITTIER they could Iuliy uhoeF-
stand II G why's and WbeTefores or not
Another feature OF the season which
tended e-e2tly to confuse and mislead the
nnl0QT2
move ment before alluded to. In their dss-
neTate Efforts to force up the quotations iol
the s.flItures.n they raised the price OF gooO
or ordinary and grades above, but changed
tho classification so that practically there
,Tos mi any real improvement 20 holders OF
snot c7tt n. especially if the cotton graded
below what would readily have sold for low
niddlng quotations during the active part
of The scsson. Thus were the quotations
of GOOD cotton square up, and the low
GRADES being utterly neglected, could only
be disposed of By ''forcing," and when lha
was done, the pric 8 we're Fuinously low
and qr.eyouslg unsa isf2cLory, for it was
Quite impossible for anyone to folly under
stand aud appreciate the situation unles!
thoroughly posted by experience gained
Though d Ally actual transactions.
Fcnn the f ST dsy of February to early
I'm June. gas a weary night OF gloom with
out al morning, long rough lane WIN
out any turn 10 it, Early IN the latle
month it beg n TO del!aIe hOtl'
and attained slight e'eFAtion
but soon dropped back ih:'
The OLD tu ?. and gradually descended agaiI
towards the valley of despond. Hoider
40, Ut the lst of July beg n 10 grow wear
OF tbeir loaus anu ohe d'tei eHOsn| I'm
meucs to realizs. This increased the de
preston, which added 10 the fiattering Gro
accounts, caused quite general disp !sltio
TO sell, consequently from the middle
July 10 last Of August sales were large, an
our stock was rapidly reduced, and now vii
less pressure 10 sell comes stesdier mai
ket. We doubt, however, II there VIII D
any material improvement.
Aside from the exceedingly poor quaiit