The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-12

produced on this market has been disap
pointing. The question is often asked
"Why has the rapid and sustained falling of
not exerted q more marked influence upol
prices 2" In answer to this it may be sale
| that American cotton is now Id to I'd 59 II
above the lowest point touched last month.
This would seem a fair compensation fol
the light receipts, and while there are some
who think SO there are others who think differ
emily. There are many, too, who believe tina
this unexampled falling off in the crop move
ment is due to causes which are not thorough
| " understood on this side, and in evidence Of
this it is pointed out that the American mar
kets do not SO readily respond to any improve
ment on this side as they have done in former
years. In fact one of the most prominent
| questions on Change is-''Why do the Amer
lean markets remain SO devoid of activity
| The argument is that if the recent small re-
ceipts really indicate the exhaustion of the
supply Of cotton in the country the natural
| inference would be that those who are on the
spot would be best acquainted W. tn the fact
and the quickest to appreciate it, and that
therefore the American markets should be less
governed by the daily course Of the Liverpool
market than they seem to be.
The absorbing question, therefore, is still
the future course of receipts at the Ameri-
can ports, and on this subject much difference
of opinion prevails. Many expect receipts to
be even less during February than in January,
while the expectations of others are quite the
reverse, and these are buoyed up by frequent
kilograms from America prognosticating large
receipts for next month. Our own private
advices indicate that very much larger pro-
portion of the crop has already been marketed
than for many years past and hence We
are not inclined to attach very much i'm
portance to the kilograms referred to,
which may in many cases convey the wishes
of the senders rather than correct informa-
ton. Should the receipts in February not
be relatively larger than those of January now
promise to be, the figures of future supplies
will look altogether more favorable to holders
than at present. Only five weeks ago the ex-
cess in receipts over last season was close on
800, 900 bales, now the excess is only $4,000,
and we think it not improbable that as soon
as the figures drop below those Of last year
they have hitherto done.
Consumption Of Cotton on the Continent
When writing, at the close of the past year,
our annual review, we had before us the
figures of imports and deliveries for only the
first forty-seven weeks of the year, upon
which we based our estimate that Cont
mental spinners then held $4,000 to 100000
bales more. and that there were probably
$4,000 to $4,000 bales more held at minor
ports, from which no regular returns are
made, than at the close of 1873. We are
now indebted to Messrs Ellison & Co. for
their able annual report, from which we ex-
tract the following figures, showing the move
ment on the Continent for the past two years:
Stocks in Continental ports LIST Jan 27297O 44971o
Import direct ,729, 500 $50 41O
" from Great Britain 6S3,5S0 59, 400
Total supply -.......2 Csc $50 1891 61o
Stock on hand 3lst December------ 29s,O40 272,970
Deliveries to the trade 1888 $40 21la3lO
Average deliveries per week.. 1929 40,743
Messrs. Ellison & Co. estimated that CONT
mental spinners (including stocks held in
minor ports) held at the close of 1874 about
10000 bales more than at same time the year
before, which agrees very nearly with our
estimate to which we have referred above. It
is generally supposed continental spinners
reduced their stocks in 1873 about $4,000
bales. from which it would appear their actual
averaged 43, 800 bales per week
last year, against Al, 700 the year before-an
increase of 5 per cent.
Should there be similar increase this year
and this We confidently expect, provided
there should be no check to consumption
from unforeseen cause.-the consumption for
1875 would be 1880 bales per week, or
about the same as the figures of deliveries
last year. In other words, consumption may
be increased this year five per cent and de-
liveries may not exceed those of 1874, pro-
vided spinners work up their present excess
of stock.
The consumption of Great Britain last
year amounted to an average of 60, AGO bales
per week, and we suppose the increase this
year will amount to two and half per cent.
making the figures for Great Britain in 1875,
say Ga, 900, or for all Europe 100000 to no.
300 bales per week.
The stock of cotton held by English spin
ners we now estimate at 2O2, 900 bales, against
l66, 900 bales last year and 1873, 900 the year
before at the same date.