Vicksburg weekly herald., 1878-01-04

Messrs. W. C. Waits q Co g Circu.
lar, OF December l4th, has been received,
from which we extract the following:
"THB Position, ETC The market
this week has presented several phases
OF interest In the 6rst place spoi quo.
tations for American, not wlthstauoing
only moderate demand, have been ad.
vAneed about l.l6d. This is explained
by the very small stock Lere which
now amounts TO only 100000 bales OF
all sorts. On the other hand future
deliveries Of American have declined
about l-l6d. The decline in future
this week has been due to several
causes. The receipts at the American
ports have 80 far this week (4ix davt)
been larger than expecled-26 0O
bsles larger than last week, and 1900
larger than last year, same time-and
It is supposed they will continue CON.
parstively large fIr the next four or
ak weeks. Thip, Il is coujectured, will
give rise TO increased estimates Of the
American crop, aud dissipsto any ap.
prehensions OF short supply Of cotton
next year. This view is 40 generally
entertained that even should II In a
great measure be realized It's influence
on the course Of prices is by no u cans
assured, for the effect may to a
considerable extent have been already
anticipated. For instance, all eta.
tistiCSl authorities agree that the
viRible supply of cotton waa about TOO.
600 bales less, and the stocks held bI
English and Continental spinner
about 100000 bales lesS on the lst inst,
than at same date last year, making The
deficit in actual supply about 100000
bales. Now suppose the receipts a.
the American porta, which on tho lsl
inst. we're 30S, COO bales behind last
season, should he recovered by In
creased receipts during the next two or
three months. there still remains q dc.
felt of lay 200 900 bales. II Ia thou4ht
100000 10 200 900 bales OF this deficit
may be made up by increased ship.
ments next year from India, but this IL
by no means certain, for our latest mail
sdviees from Bombay speak less hope.
fully as TO the prospects of the crop
than for some weeks preceding. From
Egypt there is no hope of any increase
IN supplies, but the probability OF some
decrease, while from Brazil the news
is 90 bad as II can be.
"rhat the strong statistical position
has In some measure sustained this
market for some months past, there is
no doubt. But for this we might now
have been at Sd or under for Mihdling
Uplands, because OF the depression oc-
casioned by the Russo. Turkish war,
The political unessiness in France, the
low price of silver, and the unsalisfac-
tory state Of trade in Manchester. On
the other hand, 1t should be borne in
mind that prices are now slighlly lower
for American than one year ago; and
that the present great deficit In supplieR
has resulted not from long period Of
activity, but has followedA 3 long period
Of depression in trade. But Plevna has
now fallen, and We are Inclined TO the
opinion peace is near at hand. Some
disquieling questions may yet srise,
and the fear OF these may hold our
market in check. France, after passing
through seven months of political lur-
moil and business depression, has now,
II is hoped, entered upon a period of
tranquility and prosperity. Under
these circumstances 1t seems hut reason.
able to expect some Improvement in
trade. Besides, we think 1t quite evil
dent the strong statistical position,
whilst II has attracted great attention,
has as yet failed to stimulate anything
like speculative demand because of
the drawbacks to which we have re-
ferred but there are, we have reason
10 believe, many anxiously looking on,
hoping that the anticipated large re-
ceipts at the American ports will soon
present q favorable opportunity 10
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