The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-09-15

We take the following extract from thu
monthly cotton circular Of the famous Liver
pool house of Messrs. Smith. Edwards & Co..
dated August 81. 1878
The prospects of our market viewed from the
standpoint of supply are IN favor OF further
rise In prices but In the light OF Manchester
trade the strength OF tho situation Is consider
ably modified.
The prfssnt deficiency in the Visible supply
pers probably hold 30 900 more than last season
At the end Of September last year the Liverpool
stock was found to be overrstimated $4,000: but
this year the probability is that 1t Is somewhat
under estimated lit certainly Is 50 In Egyptian1
Presenting, however. it Is correct, we have a
the deliveries trade and export were to the end
of November GO 600 per week; putting them this
year at $4,000, we would close the period OF
scarcity with q stock Of nearly 100000 less than
last season, say $50 600 bales-SuppO@in ing we have
imports of the new crop American to equal last
season Had it not been f. the rapid spread of
rivals of new. cotton in this market in the
autumn would have been considerably in excess
receipts In, the, first two, months would have
been run far ahead Of what we then had, and
with abundant steam freight. the first ARRIVALS
would have been attracted to Liverpool which
Is much over the parity Of the other European
markets. We have no data to guide US in esti-
mating the de thnt viii be causfd in the
railway system is now so extended that we
should think considerable norton of the cot,
ton that usually goes 10 NO" oEItHtlS Woulu llutl
its way to the Atlantic and SO far the fever does
not seem to have extended to the other South
ern and to none of the Atlantic ports. Under
these circumstances we shall receive at least
as much in the next thrre months from Amer
lea as last season. probably $4,000 bales more
from Egypt through the lateness OF the crop
about 20 900 bales less:
1t would appear therefore that with great
economy on the part OF the trade. they may be
able to tide over the period of scarcity. but it
would not be possible for them to carry any re-
serves of stock. and under these circumstance
this market will continue very sensitive to any
adverse accounts Of the crop, or to any i'm
provement in Manchester when would lead tC
the trade buying in excess Of their present re-
duced requirements.
The Bureau report for July was rather Jess
favorable than was anticipated; the condition
had fallen nearly per cent In the month. but
still stood at the high figure Of 95 We have sell
dom known Il season III VT Cd ~ pTo111-
ise Of the crop was SO good but 'atterlv there
have been some drawbacks. notably continuous
rains and worms in some portions of the Guli
States. In Texas prospects are splendid, and
generally in the Atlantic above an average but
In the Southwest the crop is not SO good as last
year. The general crop guess In America is al
present s 900 900.
The Egyptian crop is expected to be some
what less than last year butthe prospects lat.
terly have improved, and the Joss through
drouth is not now considered to be SO serious
The good monsoon in India gives promise or {
larger crop for next season. and with the ex-
eeption OF some damage in the Breach districts
the accounts are all thnt could be desired.