Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1873-04-24
THE COTTON QUESTION.
ALABAMA AFFAIRS.
LATEST ENGLISH VIEWS OF THE SUPPLY AND

LATEST EN6LlSd VIEWS Ot IdE SUffLx AND
CONSUMPTION.
The monthly circular of Messrs. Smith, Ed
wards & Co., dated Liverpool, March 81, con.
tains the following :.e..7 ..,,'..s o:...
/: The prospect of our market appear now to
be assuming more defined shape than they
were short time. ago. At the time that pri-
ces touched Sd for middling uplands the mar
ket was so demoralized and the accounts from
America SO depressing that many people ex-
pected further drop to 83d, and it was i'm
possible to say with any certainty what the
bottom would be. But now there seems to be
good ground for believing that the lowest
point of the season has been passed, and that
We will not again see such an accumulation
of adverse influences as we had pressing on
the market two weeks ago.
There is still, however, much difference of
opinion even yet about the out-turn of the
American crop. Up till the last week esti-
mates were continually increasing, till $780,.
I 900 became common figure for the total crop,
including Southern consumption: It was as
serted that an unusual amount of cotton re-
mained in the country, and that the receipts
would hold on we'll for some time to come.
Facts, however, do not seem, to square with
this theory ; the receipts have fallen off very
fast Of late, and at rate thet is quite incon-
sistent with these Very large crop estimates.
The average for March (78,000 bales) is quite
below what was predicted, and now it Is al
legged that exceptional causes have accounted
for this, and that next month will be compar-
atively large. -, ....,,J z,b,si z., NJ r.,,.-..,
W. ,raot1x, Io,Hk ~ f6to Iako .oosoo
the year, receipts will HE again, aha tie pres.
ent ratio does not seem to us to point to
crop of more than g, 10000. a. At the same
time, we believe, from all the information. We
get, that a greater quantity has been grown
but as much of the crop is Of very low quality,
and fetches much lower prices than planters
have been accustomed to, we quite expect
that some portion will remain in. the interior
till next season, so that the apparent crop will
not exceed the above figure. So far as our
market is concerned, ,the amount. Of, cotton
that comes to light is the only important mat
ter for the immediate future, and for that pur-
pose the weekly receipts is the only evidence
that will have weight on this side: -,..' ....'
Should the crop not exceed $3.50, 600 bales,
we repeat what we said in our last =that the
supplHefAmeriesn cotton will belittlse enough
for the, wants Of Europe, especially as an un-
usual proportion of the crop is of bad quality,
and the spinning value Of the whole is much
below the aversge. Reckoning the total ex-
port from America to England at 100000
bales, ei:largest amount We can. afford to
deliver for consumption and export from now
to the end Of the yearis 0,00o. to $4,000 bales
per week, and this we consider q very, stinted
suRRly H! ,,,.,,;+ Y l., :. =, ,.;o.
is $4,000 to $4,000 bales per week; and it will
be kept up for q considerable time; as our
supply of Brazil cotton is very small. Later
in the year, when large supplies Of good Surat
cotton accumulate, the strain upon American
cotton will lessen, but we think our aggrega-
ted supply Of all kinds Of cotton will be no
more than the actual necessities Of the trade
require. The shipments from Bombay are
not coming forward at the rate expected. The
depressed state of our market has delayed tho
movement of the crop, and up to date the de.
100000 bales since the 1st of January; COM
pared with last year. No doubt the coming
three months wilfgain considerably on last
year, as far more cotton remains in the inte-
rior, but still We begin to-: doubt if the ship
ments prior to the monsoon will materially
exceed last years This, however, will depend
very much upon the state of our market, for
price has great deal tc do with the shipment
Of the Indian crop. One thing, however, seems
clear, our stock will keep very moderate all
the spring and summer, and much below what
it was during the Same time last year. 1t is
difficult to see how the maximum can ever
reach 100000 bales, whereas it went over a
million last year, and unless shipments from
America increase very much 1t seems unlikely
that our stock of American can at any time
materially exceed 100000 bales. The total
amount'of cotton in the ports of Great Bri-
tain and afoat is 10000 bales less than last
year, and spinners are supposed to hold 1OO,-
600 bales less. This is large deficiency to
make up, and the importance of the figures is
increased when it is remembered that prices
are lad per pound below last year.
-: We think it will be difficult with these hg-
ures before US to prevent some advance in our
market, unless the development Of crop in
America points to larger total than now
r. l&,,,