The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-22
| AUCTION SALES THIS DAY.
:. ~ B. J. Montgomery sell Household FurIi.
ture, Carpets, Mirrors, Mattresses, etc. 81 Camp
street.
COMMERCIAL MATTERS.

fora copy of Messrs. w. c. Watts & Co. 8
Weekly Liverpool Circular, of July 2, from
which we take the following extract:
The Position, etc.-The serious decline in
[prices the past week has been due mainly to
IAN unexpectedly large import (91, 874 bales),
Ito further failures in London and rumors of
|even more serious troubles in commercial and
Pin tncial circles than any that have yet oc-
CURED, and to fears lest heavy tenders of cot
ton against July delivery contracts should
Lead to serious complications in this market.
As to the condition of financial aft airs in
London, it is useless for us to speculate; mat
|terb there have already assumed more seri-
sous aspect than any one anticipated few
weeks ago, and no one can tell when conf
sdehce has once been shaken. what day or
AN hour may bring forth. 1t is, however,
worthy of remark that so far Liverpool has
stood this panic much better than London,
lanA we suppose the ,eason to be: that much
THE largest proportion of capital in this town
lis rtsed in making advances on actual proper
|ty, Isuch as cotton, tobacco, breadstuffs, pro-
visions, ETC., whereas in London q much
larger proportion of capital than here is ad-
war iced on bonds, stocks, securities, etc,
which are subject to violent fluctuations, and
may or may not represent real property.
1t is impossible to ascertain how much cot
tor has been rendered here on July contracts,
as compared with previous months; but this
much seems now to be certain, the tenders
yesterday and to- day have been much smaller
than was generally expected. This grows
out of the fact that month by month it is be.
coming more and more the practice to settle
such differences as may result from the fuc-
tuhtion of prices in money rather than tender,
and receive actual Gotten, and be put to the
extra expense and trouble of actual deliveries.
In other words, we seem to be rapidly drift
ing into something very nearly akin to tt
practice that prevails in New York.
Lou Prices etc.-On the 7th June, 1860,
thu stock of cotton in Liverpool amounted to
], 1855, $50 bales (the maximum ever attained),
of which l, 154, 600 bales were American. The
consumption of Great Britain that year
averaged only so, 500 bales per week. So that
this enormous stock represented nearly ~
weeks consumption, and yet Middling Or
ieans, which on the 7th June were quoted
at64d., advanced in the following November,
before there were any indications of civil war,
toTld On 3O:h December 1867, 'Middlirg Or
leans declined in this market to I'D, and four
months later say in April, 1868, ran up to
I2Ed, an advance of SD. On 9th March, 1871,
Middling Orleans touched Z 7-16d, and four
Months later was quoted at cd. On 18th
December, 1874, Middling Orleans was quoted
at 72d, and four months afterward was at
8 $-1bd.
The stock here has now run up to 1,O3O,-
O40 bales, and Middling Orleans are down to
7Jd, or about at the lowest point touched in
fourteen years. How much lower cotton may
be forced it is impossible to say, for it is not
question of supply and demand, but one OF
confidence or panic. At the moment there
ara rumors ahoat about several firms CT world
wide repute for wealth, ETC., and should these
unfortunately prove to be correct, credit and
confidence would be shaken to the very
foundation. We. however, hope and believe
these are gross misrepresentation or exagger-
atoms.
There is another aspect of our market which
irIclines us to take hopeful view OF the posi-
tibn. Nearly every body wants cotton to ad-
ysInce. and few, if any, wants it to decline.
The American and Bombay shippers OF course
want cotton to 90 up. The Liverpool banker
o,i broker who has made advances wants to
SEE an improvement because margins have
ALREADY disappeared or are growing dlstr ess-
;nply small. Spectators are as rule 'fuli
of cotton. and would rather have what they
ndw hold advance rather than "mend their
averages" by purchasing at lower prices
S,binners don't want. cotton to decline, Tor this
Would depress the value OF their yarns, OF
which they hold large stocks
orIerators want prices to give way, for many
who sold stshort' at about Sd for July and
A,Ioust delivery covered their contracts at
ahEsnt I'D, and should prices further decline
and lead to suspensions here, their prohts on
PAGER might be turned into actual losses.
Such things have happened.
The stock of cotton held by English SPIN
ne r. we now estimate at 1902. 900 bales, against
al 900 last year and 15S, 900 the year before
ct Same date.
The Trade in Coffee.
In the course of long aud interesting
article on this subject, the New 4oik Ch1o"a
Gle of the 18th inst, remarks:
dDf late, signs of returning vIgor nave oeen
noticeable here in New York, and the traoe
anbears to be on better footing. The last
Brazil crop was large one, and had, IN con-
neStion with the slowness of trade, depress'
ind effect: but trade with the interior has re-
Gently revived, and the supply In the dis.
tributing ports of the Atlantic and the Gui,
greatly reduced-in fact now beng con
S;darablv uuder the supply held at this time
fori fonr wears past. Moreover. it appears
from dispatches from Rio Janelro that Inc
next Brazil crop is expected to be small one
owing to the unusual length OF the rainy sea
son there which has, it IS stated proven
very unfavorable to the crop.
i1 Is furtler aN6II6u eAAo
p;S reo;on will not exceed 300, 900 bags, and
the Santos district 100000 bags, where the
combined yield Of the season ending July
was nearly or quite three times the qua ntiIJ
nov expected from the two sections; t mes
calculations are exerting considerable lnnu !.
ence at present, and appear likely to anecl
the future not little 1t, however seems
probable that returning prosperity IN the
country would have more to do with improve
ment in the coffee trade than any caiculatlon n
Al to the crop of Brazil, though it is from
thence most Of the American supply Is drawn
Crop estimates are necessarily problematica
to greater or less extent.
The traffic in coffee forms an importan
mart of American commerce, and as sucn EN-
pioys considerable capital. The United States
can not be said to have monopoly OF tns
trade in any description of coffee, and IN this
respect is unlike Holland, which maintains al
almost exclusive control OF the crop OF Jaw
through the Netherlands Trading Company
vi oroanization which has existed for hun