Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-01-05

by the 3lst ult. Finding that this would
only make a total of 3,47O,OOO bales "a fs-
ure astOnishingly less than current opinion,
especially with our Eastern friends) we dis
patched TO the ports and some dozen in
terror markets, requesting an average esti-
mate from ten Of the most reliable and best
posted merchants as TO the proportion Of
their crop preceived to December 31st. Dali
las, Texas; Shreveport, V.cksburg and New
Orleans failed to respond, but from the
ether points we received the following re-
plies: Galveston 81 per cent, Mobile 90,
Savannah 81, Charleston 63, Augusta q,
Macon %, Columbus Is, Montgomery T5,
Selma %, jefferson, Texas, 66; Memphis
81, ST. Louis AZ. These reports not only
confirm our estimate but show the astOnish-
ingresult Of &c, ,instea1 Of6Op per cent. result
that viii no doubt be a surprise to those
who have kindly responded 20 our request
for information, for had we asked estimates
from each as to their opinion Of the move
ment Of the entire crop, we are sure no
such fsures WOuld have been attained, for
being impressed with the large estimates 50
confidently and peTsistently put forth in
certain quarters, they would have cOnsid-
cred their locality an exception 20 what we
now see has been the rule IN respect 70 ear
" and rapid marketing, but by taking their
views separately and only Of their own
markets, and averaging them, we get a re-
suit certainly as reliable as any that can be
obtained otherwise. A notable feature Of
the interior markets, (frOm which
the ports must get the balance Of
their receipts,) is that they re-
port a much larger percentage than the
ports, and even allowing for the smaller es-
Inmates Of some Of the larger interior
points, and the generally larger stocks at
all than last year, the estimate will still eX-
ceed 80 per cent, can even allow that
Nelr Orleans has Only receircd 80 per cent,
without bringing below that figure.
In making this report We are not actu-
ated by any desire to raise an issue with
those possessed Of different views, but
merely to give the result Of what we con-
ceiye to be a reasonable Interpretation Of
the influences that have controlled the
movement Of the crop to this time.
In conclusion, we desire % add that We
believe the information furnished under
the auspices Of the National Cotton Ex-
change, up to Oct. 20, was as correct as any
that can ever be obtained in regard %
QrClCing crop, which may be largely in-
/ creased or decreased BY subsequent weather,
and as our estimate falls so far below thas
| Of some who are entitled 10 consideration
| upon the score of fdisinterestedness as we'll
as facilities for investigating the subject,
we think it appropriate to mention that our
views are fully sustained BY the course Of
the bagging market during the season.
/ Late in the summer those who were well
/ posted as 20 stocks and production, were
! positive that with four million bale or ?
! Of cotton bagging would rule materially
higher, and under this belief prices did ad-
vance sharply, but were brought to a sud
den halt by the light and irregular demand
which has not been sufficient at any tima
to check the decline
| OF course we cannot undertake 20 say thai
the conclusions reached are absolutely cor
rect, but they are certainly supported az thi
present time by such a combination Of ID
| dications as must, we think prove irresiSt
fble to every unprejudieed mind and un
less entirely dispelled by the eOntinuanceO o
heavy receipts during the coming mOnth.
Respectfully,
JOHN F. WHELEss,
GEO. j. GOODRICH,
T. 3. SAMPLE.