The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-01

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was the original cause of the resistance of the
strikers to thief ntting down Of wages. With
the terrible lesson presented to them by the past
in such disastrous results. peeuniarily. to the
business community generally. as well as TO the
roads. and morally, not only to the actors In the
tragedy, but to the community at large, 1t s I'm
likely that such madness will be repeated Il il
more probable that the lateral roads will accept
the situation, and be eontented with legitimate
business at remunsratve rates rather than re-
peat the rule Or ruin policy
New Orleans therefore, has The combined adj
vantages OF the greatest river Of the North
American continent and ths cheapest railways
within the boundaries OF the States. With such
auspices on our new departure TO commercial
greatness, no merchant should despond, none
despair of the future TO realize. however, all
the hopes Frightening mp our future, our COM
mercial friends should cordially unite In sup
porting every enterprise calculated to promote
the common welfare At the present moment
the Improvement Of the Red river and the CON
struetion of the New Orleans Pacific road TO
Marshall and Shreveport are the works that
most attract the public attention. New Orleans
has grand future before her when she will BIO
the entrepot Of the Pacific trade the Vests chief
outlet TO the sea, the main seat of South Ameri-
tensive connections with transatlantic com
mercial nations. But there s no necessity for
| us to scan the comparatively distant future.
We have only to watch the present and give our
special attention to such undertakings as prom
| ise i'm mediate results. Such Is this road to
| Shreveport and Marshall. which, as surely as 1t
| is in working order, will be the means of re-
| storing to us highly valuable trade diverted
| from US by other roads, and impartiDg renewed
| vigor and increased prosperity, not only +, our
commercial classes, but to the community at
large.
At the commencement of the commercial year
the stock in the presses and on shipboard not
cleared embraced 29s77 bales, against 1916 In
1876 1858 ia 1874 TIT in 1873. and $3.50 in 1872
The entire supply for the year was 1614417
bales, composed of 140l,5es bales proper in
Guiding corrections, 30s, 1878 from other delivery
ports, and 1916 on hand at the commencement.
Compared with the previous year this showed
an increase In the receipts proper of 203.s7s
bales and 80. so4 from other delivery ports, and
9t4O1 in the stock. The value showed an in
crease of 81, 915-s84 473 s19 against s75 FOG s4
The past year presents a less favorable result,
exhibiting q decrease Of 224,2ss bales In the re-
eeipts proper. and an increase Of ge1e from other
delivery ports, while the value is estimated at
s12. 2o5 81 less.
Taking q general view Of the subject and con-
sidering the probable demand for consumption
as well as the expected supply, the year opened
in September with indications Of steady mar
ket, and although the new crop came forward
more freely. yet under threatening worm &C.
counts prices were maintained. With regard to
the crop and the probable supply. however, all
speeulations as early ms September are well
known to be unworthy Of much confidence but
nevertheless. have q certain influence. and later
in the month under liberal receipts and rather
encouraging reports from some parts OF the in
terror prices took a downward turn, giving way
&c during the last fortnight. Early in October
the unfavorable elements with regard TO the
crop were increased by killing frost which
with the estimated damage from rust and cater
pillars. had a manifestly strengthening effect.
At the same time the dry. hot weather, had
broughtthe crop forward rapidly-some thought
prematurely-and 1t was eonieetured that the
picking season would prove to be one of the
shortest on record But little attention
was consequently given to the increase in
the receipts. which; compared with the pre-
vious year, showed an excess at all the ports of
es,o7e bales in September and 81, $40 in October.
and the latter month closed with recovery OF
the previous decline. The elements abroad
were, at the same time. favorable to IN advance
there being an actual plethora Of money In the
London money market. and good deal of inn
portanee being attached in Liverpool to the New
York Chrontcle's average of estimates from re-
liable authorities, which it made 4s4e, 600 bales
This it was apprehended. would fall short of
the actual wants of the trade an impression
that was strengthened by the tenor of Messrs.
Ellison Co.'S annual circular, of October 1st.
These favorable influences were. however, to
some extent neutralzed by the drift OF foreign
political affairs which still caused no little I'M
easiness and excited continued fears of the re- |
suits OF European war. but at later period
such approximations were relieved and In view
of the heavy receipts at the American ports, 1t
was estimated that even If the crop should turn
out four and half millions, 1t would be con-
sumed. The movement consequently exhibited
much greater animation at Manchester |
where the sales on the I'd of Ncvem- |
Der were the heaviest on record. Under
these circumstances prices at Liverpool exhib-
tie improvement. showing, in fact, |
an advance of I'D. for the fortnight ending on
the 9th of November but spinners being well
stocked the market soon received q check. |
which prevented any further improvement,
without its exhibiting any quotable decline, |
later accounts from this side being of a re-
assuring tenor, our heavy receipts being afrib- |
nGed 10 the CRUISES mentioned hD0V6, an early |
falling off being expected. and the prevailing |
sentiment being adverse to large crop. The |
market, moreover. was strengthened by less |
warlke political aspect of affairs. and by the |
crop accounts from India and Egypt being de- |
cidedly discouraging. Prices were consequent |
ly maintained at Liverpool throughout Novem-
Der, and in our own market the movement had |
been active and the quotations had been raised |
Middlng closing at q net advance of &c.
One of the principal features Of the market |
thus far was the scant supply OF lower grades,
which consequently ruled at full prices COM
pared with the better qualities. The supply. in
fact of these descriptions was 50 nearly ex-
hausted that towards the close Of November
quotations for them were dropped after having
been entirely nominal for several weeks. and
were not resumed until the first week in Febru-
airy. Taking. however. the general quotations
as guide, prices at the close Of the first quar-