Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-31

*OPENING.-After the opening yesterday prices
fell off sharply, and the closing figures will be
found in our regular report.
The receipts at the ports, according to
the statistics of the Cotton Exchange last
week, came within about 10000 bales of the
receipts for the corresponding week last
year, but according to the same authority
the falling off from Sept. to Oct. "a was
nearly 81, 900 bales. The question of price
however, has not in any degree been one Of
supply and demand. These influences have
been in favor of steady, if not higher, prices.
At the latest dates the visible supply of
American cotton was only $1,000 bales
greater than at the corresponding date last
year, with prices in Liverpool ten per cent
and in New York twenty per cent lower,
and the general estimate of the crop little,
ifany, in excess of last year. Yet there is
wholly wanting any appearance of strength
to our market. Liverpool has been strong,
with considerable spirit in its business, I'M
I'll within the last two or three days, when
we began to drag 1t down with US.
The stoppage Of some Of the largest Of
the New England cotton mills, and the run-
ming of Others, on short time, have, of
course, given serious check to the demand
from home spinners; but the whole of this
will not probably amount to more than a
totsl suspension for three weeks-curtailiDg
consumption about 10000 bales-and can
have no more than temporary influence
upon prices.
Shippers have been embarrassed By a
scarcity and high rates of ocean freights.
the advance in rates since the opening of
the shipping season is s61c per pound, and
this, with the temporary withdrawal of
spinners from the market, has been an i'm
portant influence contributing to the decline
in prices of cotton. There has been, it is
true, some recovery in sterling exchange,
but not enough to have much effect.
What effect the epidemic in various in
terror towns of the South, and the decline
in prices that nave taken llace, will have
upon the work of gathering the cotton crop,
cannot now be estimated with any degree
Of accuracy. There has been q general
complaint ofthe inability of planters to pro-
cure currency to pay hands engaged In the
work of picking; added to this trouble, a
slckly season and the disbursement caused
by much lower prices than were anticipated,
and some decrease in the quantity gathered
may probably be anticipated. To be sure,
cotton ready for picking may be proftably
gathered at 10 or II cents per pound, but
this will not prevent some fields, or parts of
fields, being wholly abandoned, es pecially
as the picking season, though fine, must be
somewhat shorter than the average.
We have already referred to the advance
in ocean freights. There is a scarcity of
vessels in the Southern ports. The Calves
ton circular refers to it, and at New Orleans
on the 22d there were only 80 square
rugged" vessels in port against go at the
corresponding date last year. This has
naturally curtailed exports; and from the
LIST of September to Oct. "a the total
was only 103,605 bales against 1929 the
same time last year, and in conjunction
with reduction of home consumption, there
is naturally rapid increase of stocks at all
points.