Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-04-30
THE COTTON SUPPLY.
Decreased shipments and Prospects
Why Prices Do Not Respond.
New York World.

The total receipts Of cotton at the ports
from the lst of September, 1874, to the oath
of April, 1875, were 1924, FOG bales, and
for the corresponding period of last year,
3,545,6l5 bales. This shows a decrease in
receipts thus far in 1873 Of 100000 bales.
The total shipments to foreign ports from
the 1st Of September, 1874, to the present
date, amount TO but 2,225,2 3 bales, against
2,424,216 bales for the same period Of last
year, showing a decrease in exports of I9S,-
977 bales. At first sight it seems surpris-
ing that a shipment of cotton short by
nearly 100000 bales, together with the
prospect Of short receipts from this
dTte until the new cotton year in
September, as compared with the same
UeriOd of last year, should exercise so
little influence on the price Of cotton at
home and abroad; for cotton is to-day fully
J cent. a pound cheaper in Liverpool than
last year, and % cents a pound cheaper
than in 1873. The explanation, however,
is readily found in the dullDess of the
market for cotton goods and in the dimin-
ished consumption Of cotton By foreign as
well as by domestic mills. The shipments
from the United States to Europe from
the LIST Of September, 1873, to the 26th of
April, 1874, amounted to 2,424216 bales.
The stock Of American cotton in Europe
and ahOat was at that time 1,247,000 bales,
showing that Europe used from the LIST Of
September to the 10Th Of April 1,1TT,2l6
bales of American cotton. Now let US
turn to the present cotton year. We sent
to Europe from the LIST of September, 1874,
to the 26th Of April, 1875, 2,225,239
bales Of cotton. On the 26th of April
the stock Of American cotton in Europe
and afloat was 1,142,0O0 bales, showing
that Europe consumed 93,977 bales less Of
American cotton during this period Of
nearly eight months than during the same
period of the previous year. In other
words, tEeunusua lstagnation Oftrade / moot
ton fabrics made OUr short shipment-shOrt
by nearly 100000 baleS-less felt than it
would have been if the ordinary amount of
business had been done. But dull as the
cotton trade Of Europe has been, with con-
sumption short by nearly 100000 bales in
eight months, it is nevertheless true lat
the visible supply Of American cotton in
stock in Europe and alOat is diminished
by some 10000 bales, as compared with
the same period Of last year. And it is but
reasonable to assume that should there be
merely IN indication Of a revival Of trade
in cotton fabrics in Europe, which will
naturally run chiefly on the American sta
pie, the short supply from here would at
once be felt. The present cotton crop was
over estimated by 100000 bales or more,
for it was at Il time supposed that the
supply would reach 4,333,C00 bales, where
as the most ~ssnguine now reduce these
figures to 3,750,0OO or to 100000 bales. 1t
follows, therefore, that the hopes for a plen-
tiful supply Of cotton during the last four
months of the present calendar year depend
entirely on the new crop, half Of which is
not yet in the ground. The vicissitudes of
the new crop will therefore be watched
with great interest. If a revival Of trade
should set in here and in Europe, not only
an average but a plentiful crop for the year
1906 would be required to make good the
comparatively moderate supply now on
hand.