The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1874-05-21
Pro-peee OF inc coEsOn markes
From a late report of Messrs W. c.

From a late report of Messrs W. G.
Watts & Co., Of Liverpool, We have
copied thefollowing observations in refer
ence to the prospects of the cotton mar
ket the approaching season 1t will be
seen that the conclusion reached is that
if the decrease of the quantity of lands
in cultivation should be material, say
not less than 123 per cent, as compared
with last year. prices will range consid-
erably higher than the past season.
That the reduction of acreage will be
large, is unquestionable, and it is no
less true that the injury to the upland
crop from excessive rains and late plant
ing is irreparahle. Planters may there
fore rely upon fair prices. Consump-
ton keeps full up with supply, and the
law of supply and demand will exer-
else its authority in the end. Producers
can deprive themselves of the beneit
of its operation by dealing extravagantly
and losing control of their crops by plac-
| ing themselves in the hands of specu-
lators. Let them avoid this even if they
have to live hard while the crop is being
made, and deprive themselves of every
! thing but the actual necessaries to keep
soul and body together and their stock
in working condition. 1t is an i'll wind
that blows nobody any good and who
knows but that the providence which has
wrought such fearful loss by overflow
in the submerged districts, may place
within reach of the toiling upland peo-
pie the opportunity of lifting the mort
cages from their farms and getting even
with the world again?
There is at present no one subject of SC
much interest to the trade generally, as
the probable acreage planted in cotton
this spring in America. This point has
been much discussed this week, and as
usual, very divergent views seem to be
entertained. Without ourselves express
ing any opinion, at this early period OF
the season, as to the probable decrease
this as compared with last year, We may
| however, say that from all we can gather,
our opinion is, that if the tenor of adj
vices from America should indicate a de-
crease of 123 per cent. or more, the eff
feet aoiH be to strengthen the position Of
| holders Our reason for this opinion may
be summarized in very few words.
The American crop of 1929 amount
ed to 8, $3.50, 900 bales, and that of 1894
it is now generally supposed will amount
| to 400, 900 to 4, $50, 600 bales. The
average of the two years thus promises
to somewhat exceed 1000, 600 bales.
Should the decrease in The acreage plant
ed in America this spring be II! per
cent. less than last year, it would
seem that the chances aside from the
damage done by the recent overfiows in
Louisiana, Mississippi and Arkansas-are
against crop of 4, 900, 900 bales the COM
ing season.
Let US, then, look at the question of
prices. For the last twenty-four months
the average value of middling Orleans
cotton in this market has been 98d II Id,
or l i'd above the prices now current; and
this, too, Notwithstanding the fact that
within this period number Of causes
have combined to depress prices. For
the past two season there have been large
crops in Egypt and average crops in India.
Last year there was financial panic on
the Continent of unexampled severity,
the recovery from which is now slowly
taking place. France has for the past
year or two been unsettled and disturbed
by political affairs, and business general
ly further depressed by the short grain
crops last season. In Spain there has
been civil war. In India there has been
ha he
serious famine to contend against FL
year, and deficient harvest, have ma
terially iaterfered with our home trade
OF course there may be difficulties and
drawbacks in the future as great as those
we have had to contend for the past year
or two, but this hardly looks to be proba-
bic. Besides 1t IS admitted by every ono
that the consumption of american cotton
IS increasing gear by gear, both IN hiscountry
and on the continent, and the supply being |
adequate, zoe have every reason to expect tis |
increase 1UiU continue.
The downward tendency of prices last |
year, and the first two months of this
year, was undoubtedly due in a great
measure to the prevailing impression that
production was going ahead of consump-
ton, bad the present excess IN the Visible
supply is not no,c so great as acas appre-
hended. If, then, there should be ma
terial reduction in the acreage planted
in America this spring, the presumption
will be that it is mainly due to the fact
that present prices are, to say the least,
not sufficiently remunerative to stimulate
production, and that the same cause may
operate to check production elsewhere,
in which event it would appear to be pri-
ma taciG evidence of a higher rather than a
0,cer scale Of prices.
The stock of cotton held by English
'pinners we now estimate at 207 900
oales, against 172 600 last year, and 257,-
700 the year before at the same date