Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1877-08-31

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entered that the grand total o. the year
would not reach an aggregate OF our
millions Of bales. Under these cir.
cumstanees the market 10 Liverpool
opened In September With s good de-
mand, though quotations we're 5 l5.l6d
for Middling Uplands, and sgd for
Middling Orleans, which figures we're
maintained till the 22d, when q decline
Of 1.16d occurred, the sales during the
time running frequently as high as H..
600, 1900 and even 1900 bales daily.
There were no changes however IN the
general condition Of the markets until
about the middle OF October, when the
l.l6d lost in September was recovered,
and held until the 18th, the market then
opening buoyant at an advance Of l.l6
to be rapidly followed until Middling
Orleans had reached 7 5.l6d on the It'll,
8th and 9th Of January.
By this time, the receipts at the
ports became the absorbing interest,
short crop men hanging 10 the theory
that they should then begin to show
evident signs Of the decrease predicted
In the beginning o. the season. They
continued excessive, however, ard esLi-
mates were consequently increased,
which, at one time, bid fair, If the Bears
of the market were to be listened
to, to equal, /: not surpass, the crop OF
the previous year. Prices also tock q
downward course, and, though q tre-
mendous fight Letween the bulls and
bears went daily on, the tide could not
be stayed, and those who had stacked
themselves Up with oil they could carry,
found themselves il the folds Of o
rapidly decliOing market, and compell.
ed to fall back upon the statistical po-
sitlon as the only tenable ore which
/ could, at the time. be occupied. The
complications o: the Russian and Turk
ish Governments, coming in as a
factor, and the fear of other Powers be-
ing drawn into tie war, FASTENED the
downfall OF the staple, and from that
time to the present no hope has been
entertained that q permanent advance
could be expected until quiet was once
more restored to the Eastern question.
Even at this date, the commencement
Of a new commercial year, there ls lit
tie L for congratulations, and
though the statistica! position 10 still
one Of strength, the losses during the
past year have been so great as to OPP
crate as a barrier to any speculative
feeling that might otherwise exist,
had the Years business involved
less OF loss, or proved only
one OF medium extent. Tie cd
adaRe OF 3 burned child dreadirg the
fire, Is particularly applicable to the
position Just now. Those who went In
to win last year, and lost, are extra eau.
tious; while the disease has seemingly
become infectious, and ust uow,uo enc
wants cotton, no matter how low it
gets. The rub given the bulls has
proved to be dose enough for the
whole family. and few members of II
have temerity enough 10 &c 10, this
early in the season. The markets
therefore are opening III rather q drag
ging way, aud the immediate future is
one OF great uncertainty.
The course Of the New Orleans mar.
| ket for the season has been one Of con-
siderable d~uctuation, opening at lie for
Middlings in September, II rapidly de-
scended to 1916 by the 7th Of October,
and as rapidly advanced til llTc was
reached on the 1lth Of November.
Then taking q downward course ll6C
marked the prices on the Let of Deem
Der, about which time the active mat.
ket commenced, when prices suddenly
rose and continued on an upward turn
until l2a4c early Ia January. At that
time the large receipts and European
complications, together with the pros.
. poets Of 8 heavy crop, depressed the
markets and the continuous decline
commenced, which has now settled al
I0iSc as the ruling figures. The differ.
encs In gold accounts for the lower rate
which the American markets are quoted
| at to-day. Liverpool, last year, was
the same as this, but gold was Their
worth Ill and now only a fraction
above l04.
/ With the many cause OF d~esponden'
: cy for the Ills which we have teen. and
! are still suffering, we have still one
=. source OF congralulation in the fact
| that our city has been brought promi,
8 nenlly to the front 90 q cotton market,
and is enjoying an increase In receipts
t despite lessened production Of las
r season, aud the inconvenience undel
-. which we are laboring In the want o.
sufficient banking capital with which t
i. push our interests.
At the close OF last seasons business
= the folio wing imperfect statement o
' our receipts were published. In get
8 ting up the information for the hrs
: season, many inaccuracies crept into th'
reports, and 1t the end Of the season
y large number o~fcorrections, adding Il
the general receipts Of the year, had Il
be made, which sWelled the aggregate
of the season 10 undue proportions
During the past season these error
: have been avoided,and the books wer
u as correctly kept as could possible b
i done under the circumstances.
} The following tables will show tn
. receipts and shipments for the yeaI
compared with those Of the season pre-
le vious, giving the sources from whenc
y they came, as well as the route ard des