The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1873-10-10
The English Cotton Trade.

The English Cotton Trade.
from Smith, Edwards Co.'S. Monthly Cotton Cir
cular, dated Liverpool, Sept. 1921
In Manchester during the past month
the business has been less than an aver
age, and the tone of the market has been
somewhat dull. The accounts from Cal
cutta are very discouraging; merchants
are disheartened by the poor results of
past shipments, and are reluctant to
give out further orders at present prices.
The recent activity in Liverpool has led,
however, to some increase of miscelape.
GUS business, and producers, as rule,
are still fairly in order. In some de
scriptiOns of yarns, especially in num-
bers suitable for eastern shirtings, the
supply offerings has been in excess of
the demand, and the margin of profit to
the spinner has been somewhat reduced.
The trade, however, as a whole, contin-
hes sound, and there is sufficient demand
to take off the production. THROUGH
the prevalence of strikes and disputes
between the operatives and their employ
ers, the tendency towards increased con-
sumption has been arrested, but we do
not consider that any reduction, SO Tar,
has taken place. As Brazil is now Civ
ing us more liberal supply, the import
reaching 10000 per week during the
past two months, fully as much as last
year, we 81 all be able in some slight
degree to economist American, but the
trade seem very reluctant to increase
their takings of East India.
The export demand has been disap,
pointingly small during the past few
months, but as stocks on the continent
are not excessive, and in Havre 10000
less than last year, it is reasonable to
expect more liberal export this autumn.
Our stock will consist largely of the ex
port qualities of American and Surats,
and of the latter the continent has taken
direct from Bombay rather less than was
expected this season. Last year the ex-
port from Liverpool and outposts reach,
ed Il, 900 bales per year; so far it has
only reached 1000 At the same time
it must be remembered that the inan
cial difficulties this summer have seri-
| ously interfered with business in some
important districts, and the civil war in
Spain has had an injurious effect on the
trade of that country.
The prospects of our market have not
altered in any Important degree since
our last issue. They are still viewed in
a great measure through the medium OF
the American advices, and these, we re-
greet to state, are not quite satisfactory
as to the condition of the growing plant.
The crop is generally admitted to be
two we ks later than last year, ana, in
consequence, is more liable to damage
in the autumn from storms or early
frost. The receipts in September are
| likely to be considered less than last
year-when they reached 100000 bales
even though we shall receive this
season a considerable quantity of old
cot on, and it is highly probable that
the present excess of go, 600 in the stock
in America over last year will be counter.
balanced by a like deficiency in receipts
| during the first two months of the season.
| Our import would thus during the next
three months very slightly exceed that
of last year, and with outgoings of 3d.
| 600 bales per week of American for trade
and export, our stock in November
would be run down to only two weeks
supply. The position of American cot.
ton, therefore appears to be sound, ard
even with good crop accounts during
| the autumn, it will be difficult to force
prices much under their present level,
whilst, with unfavorable crop advices
and a reduction of estimates, we might
| have some advance, at least in the
medium and lower grades, which are
comparatively cheap.
For East Indian cotton the prospects
have not materially altered. During
| the next four or five weeks the import
will be heavy-probably 100, 600 to 100
| 900 bales-chief1y from Bombay /; and
as a large proportion of this will be good
co ton, which continues relatively cheap
it is probable that spinners both here
| and on the continent will be induced tC
| operate rather more freely. It is not
| likely, however, that we shall have any
| important rally in Surats, unless there is
| first fall a movementinAmer
for their consumption is still limited
and with the prospects of IA liberal sup
ply of American next year, spinners vii
not change to Surats, unless they have
an important advantage in price. If low
! American, however, this autumn should
/ become scarce and dear, as it did las
year, and all the lower qualities of Bra
| zils, ETC., should be used up, we nigh
see a sharp rally in the good fair qualities
/ of Surats, which are now so modeIat il
price and of such superior style. Ben
gals have maintained the slight improve
ment of last month, but the stock OF
hand are so excessive that tits not likely
we shall have any important advance
uni, IS the opinion is generally enter
tanned that the next crop will not com,
forward at present prices. 1t is highl!
improbable that Calcutta will ship freel,
at 4d for fair, but if we only receiv,
half as much as last season the prospec
of reducing stocks to their nomina
compass will still be remote.