The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-11-15

CoTrnN IN LIVERPOOL AND MANCHESTER. we
are indebted to Messrs. d. A. Given X Son for
copy Of Watts & Co.'S Liverpool Cotton Circu
lar dated October "a. from which we extract
the following:
W. Position. efr. 80 The October corner
which nat uraly terminated to day at noon. has
apparently been complete ssuooess., spot
prices of American cotton. Notwithstanding The
retail business doing from day 80 day. we're
forced up I'D per pound for grades that could
be rendered on contracts. while October daliv
DAYS ago the committee OF the Cotton Brokers
Association issued notice that in case OF fall
ute to. tender cotton at the expiration OF the
thai day of the cotton contracted for. in rule
Of delivery contract. moan the spot quotation
at IA o'clock on That day Some doubt existed
ma To the proper Interpretation Of above clnuse,
and tho decision was road III favor OF those
having October contracts uncovered. but those
engaged lii manipulating the corner pushed
the spot price np ID in tho past three ds,ys.
with almost no business doing, thus showing
how completely controlled the market was.
Tho last price paid for October was. we believe,
~ n and mt the close the amount Of excitement
displayed Was quite unprenedented IN the an
nails Of tha market, How IT will all end. when
differences have to be met IN the course OF the
next ten days. 1t ID impossible TO gay. but no se-
rious disaster is feared. October deliveries
were selling freely only four weeks ago ~ low
as s 3 "a. % t viii be seen that tho squeeze Il
severe one.
The abstention from buying on the pRrt Of
spinners lt.at week was not Of their own seek
ing. They aimply could not IND cotton Offering
except In very limited quantities. but the artt-
fetal stringeney being now relaxed tho prob },
primary importance. On all hands It ls admit
ted that they are unusually bare or cotton that
they have done a large business lately In Man
chester which has put them 90 well under con
tract for some weeks ahead that II is now diff
cult 10 buy yarns for Immediate delivery. There
apinnera viii 10 large buyers. Of cotton
during November, aud on this assulnp-
shown "n We q ~ 5er
new that tho minds Of operators are free from
the dstracting excitement Of the October Cor
/ ner" AT noon TO- day November deliveries were
4 quoted At & led. aud spots at 7tsd. This even
Ing Novembers arc worth 1921, and the
prevalent opinion ut tho moment is that they
will advance to meet the expected fall III, spots
i The import during the month Will be heavy
but there fa supposed TO be- large short interest,"
open md ths II conjunction Witn 'he eNpeu,e -
sustain values.
I The Manchester market continues firm. and
4 owing to tho abnormal condition OF our cotton
market yet prices have rather q hardening
tendency The advance In the value Of silver,
I ehould it prove permanent Will be or i'm
mense benefit to the trade Of Lancashire. Even
now there are many SIGNS OF revivinE conn., COZ, !.
has been for n long time. Manchester is also
| bare of goods and the business doing Is gen-
orally considered 70 be q healthy. conserve nas
are no doubt enormous; and We may reckon
upon a heavy weight OF cotton TO grAvtate to
| this port. but, with q more cheerfnl trade
| prospect, and growing confidence In financial
/ and commercial circles generally. we are likely
| to avoid TIL. extreme depression and low prices
| of last winter.
4 Il ne ostinlates of the American crop have not
oflate n>enany new dep arturo Notwithstanding
the large port receipts. but should these con-
tinue a few weeks longer, increasing estimates
may come into favor. AT present the crop Is es-
timated III a rough way as likely to prove rath-
We take the following ATTRACT from an article
in the Manchester Guardian Of the twenty
eighth instant. entitled Ten Year 9 Growth Of
the British Cotton Industry" based on official
| statistcs:
The total number Of spinning spindes and
| looms In tho entire cotton trade of the country
| was as follows:
Spinning spindles. 1863. 1873.
In spinning mills ....+.., Ii .76O 24.1o9.445
Spinning and weaving mills le .254 Ats
Total Observation-Disclosures. 80. 600 Oh 1851. 900
Il Looms 1868. 1878.
Tn weaving mi .......,-~---- 160.3aS 234 503
Spinning and weaving mills 2Is.osl $50. 4os
Total Observation-Disclosures 3T9 500 bl4.9ll
The tendency toward differentiation in the
two great departments Of the cotton industry
which has grown up during the past ton years
is very marked In these figures. The number
Of spindles in mills where both spinning and
while the number In mills exclusively devoted
to spinning has increased to the extent OF
s.5726s5. or more than 50 per cent. The entire
Increase Ia 1897. 9o6 spindles Ia the ten years.
1868. But the progress In the number Of looms
ia still more remarkable. Between 1868 and 1878
the increase. assuming the correctness OF the
returns was nearly 30 per cent. against barely
The stock OF cotton held by English spinnere
we now estimate at $4,000 bales against 60. ooC
last year and $4,000 the year before at same
date.