New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-09-01
;ent, but without showing


much activity.
During the first fortnight of October with
more copious supplies buyers came forward
with . better spirit, and the general ten
dency was to stronger prices, enabling fac
tors to establish an advance of about Ac,
but the market then took an unfavOrable
turn, and for the rest Of the month the ad-
vantage was decidedly on the side Of the
buyers, the closing rates showing decline
for the month of u q No in the medium and
lower grades, and v $50 in middliDg and
the better qualities. The market at the
same time was much more active, and the
sales of liberal extent. The previous down
ward tendency continued in November with
occasional rallies and some irregularity,
while the sales we're consequently heavier
than in October. The closing quotations
showed Q net decline for the month OF Y q
sc in the medium and lower grades and
$50 in mddling and the better Qualities: .
In the meantime there had been q marked
change in crop estimates at Liverpool,
which had been raised from 1000, 0O0 bales
to 1880, 900 and even to 100000. This
naturally caused increased depression in
the American markets, which was the more
readily responded to at Liverpool in co.,
sequence of the gloomy feelings which pre-
dominated in cotton circles from four years
of unsatisfactory trade. By the close Of
inc LU0utu prlCcS udu consequently given
way SD. In October, however, reports
from this side of threatening setback
from cold nights caused favorable reac-
ton, which was further stimulated by the
discOuraging tenor of the Agricultural Blu
reau report issued in that month, and the
conclusion reached by foreign cotton pub
licists that all Of the 1880, 600 would be
needed to prevent a serious falling Oft in
stock. Against this, the receipts at the
American ports were unusually heavy, out
still the Liverpool market closed at net
recovery of Is a Ad of September's decline.
The American crop question continued to
absorb public attention, and all through
November our accounts from the interior
were closely scrutinized. These proving
to be encouraging, there was general in
clination to raise crop estimates, both in
America and Great Britain, which was in
creased by the National Cotton Exchanges
report being decidedly more favorable and
pointing to 4 100000 bales, the effect of
which was only slightly modified by the
Bureaus reporting an increase of only a.
v cent over the previous year, indicating
hardly more than 800, 900 bales. Under the
influence of these conflicting reports the
Liverpool market closed dull at net de-
cline for the month of ls !, the quotations
being 3 led under those ut the Commence
ment of the quarter.
This brief glance at the foreign market
presents a KEY to that OF our own, which
readily responded to the reports received
by telegraph. with but little check to the
movement. The sales embraced g, 400 bales
in September, against % 100 in 1874; ZIG, 500
in October, against $4,000. and 204, 700 in
November, against l43, 200, making an sg
gregate of $4,000, against 266,3oO. The
gross receipts were Al $50 in September
against 90, O03 in 1874; l6l, 423 in October
against 126. 1927, and 259, 423 in November
against 206 SIS, making total gross OF
49,, 438, against 1862, 405, while the amount
proper for the three months WAS 3o2 4le
bales, against 300, 645. The exports for this
| quarter summed up 2S9 $50 bales, of which
536, 800 were to foreign ports and 3d.
| coastwise, the former embracing 1872 339 te
Liverpool, against lao, 0S3 in 1874, 81 ,087 to
| france, against 81 ,765. 32.750 to the NORTH
of Europe, against 1887, and 2O,l53 t.
other foreign ports, ag ainst 8lS8, the totals
| showing an increase of 1926 to foreigl
ports and decrease of 9SS5 coastwise. Tit
stock by our running statement was nov
1872, $50 bales, against 263 ,07O in 1874 and
| the amount unsold was estimated at SS 600
| aganet l2S 700.
| December opened with an ample supply
| and fair demand for export, with only q
moderate inquiry for the North: but the
| movement, nevertheless, was on a more
| liberal scale, although hardly in proportion
| to the increase in the receipts, the pressure
| of which made it necessary to meet buyers
| freely at the parity of the Liverpool quota
| tions The general tendency was conse
quently to easier prices, which was in
creased by unfavorable foreign accounts
and a decline in foreign exchange, thu
month closing at a net reduction of II y
| in good ordinary. $50 in low middling AM
| lso in middling, showing the general lean
ing of the market in favor of the bette
| qualities and the neglect OF the lowe
| grades, the latter comprising an unusual,
large proportion of the heavy stock, tn
| pressure of which gave a steady advantag
| to purchasers. These continued to b.
striking features of the market Throughout
| January, when the movement exhibited
increased activity, resulting in the heaviee
sales of the season, the largest days bust
ness being IA, 400 bales on the fifth. TIL
closing quotations consequently showed 1
further decline of "a q $50 in good Ordinar.
and only lsc in low middliug and middling
February exhibited considerable fallin
off in the movement, both in the receipts an
sales, with no intermission in the dowI
ward tendency, the closing quotation
showing further net decline of IL 9 in goo
ordinary, and "A a asc in low middiing an
middling. and reduction for the quartz
of las q 1ec in good ordinary, "a q $50 i
low middling and "a q $50 in middiine
Compared with the commencement OF tn
year the quotations presented the follow
ing reduction:
| Aug 81. Feb % peclin,
Ordinary ll4allh 7A0sa So
! Good ordinary IL Ol21e 9ss a 9ls 03'
Low middling.. ..is ri3ls I1,s OIL 5Sa2
The excessive proportion of the lowe
qualities was, IN fact, one of the mos
prominent characteristics of the crop
which was not only low in standard in tn
field, but proved still more unsatisfactory,