Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-11-05
THE POSITION AND PROSPECTS OF
COTTON-ITS PROBABLE YIELD.

Liverpool statisticians are figuring on
from 4,75O,0OO bales to 5,23l 900 bales
In this country calculators place their
figures at from 4,SOO,OO0 to something
over 100000. The continued favor
able weather for crop gathering, and
the excellent character Of the yield in
the Mississippi Valley, warrant the
belief that the quantity to be market
ed will not fall far if any below 4,SOO,-
600. A number of our local buyers
run the figures up to $780, 900, while
on the bear side estimates seldom
place it as low as the inside Liverpool
estimates Continued dry and pleas
ant picking weather will have much
to do with the out-turn. At the
present time the cotton fields
are everywhere white with feecy,
unpicked locks, and planters are
rushing the work of gather
Ing with their utmost vigor,
From appearances it will be impossi-
bic for the river valley grower to get
his crop into the Clubhouse before the
close of next month, while the planter
in the hills has several weeks Of real
hard work yet before his fields will be
clear and clean. 1t is therefore ap-
parent that much depends on the
weather between now and the close of
the year. The low state of all South,
ern rivers is doing much to prevent
the marketing of the crop this season.
and we may look for heavy receipts to
continue at New Orleans and here
until late in the spring, unless we
have an early swell in the Southern
streams and a heavy fall of rain i'm
pairs the condition and beats out and
destroys portion of the yield vet
ungathered. The receipts of cot.
ton at New Orleans for the present
season now reach 275,834 bales, and
are $4,000 bales in excess of last year
at the same date. Mobile has re-
ceiyed 10000 bales, and $1,000 in ex-
cess Of last year at this time, while
Virginia and North Carolina has re-
ceiyed so far this season 128,0OO bales.
being 1900 more than had been re-.
ceived at this date last year. TIE
points showing a continued falling OFF
are in Texas where 100000 bales have
been received this year, a decrease Of
10000 bales also Charleston and
Savannah, where 33j, 900 bales are the
aggregate receipts the present season,
a decrease of over $1,000 bales.
There is also deficit of some 10000
bales or more at other points, all OF
which goes to verify the point ad !
vanced by the LEDGER some weeks
since, that the cotton production of
the Mississippi Valley will this year
largely exceed that of last season,
while the yield in Texas and
che Atlantic cotton region will
show anequally large deficit.
A decided revival Of confidence has
taken place abroad in regard to the
position of cotton within the past
three or four weeks. In ito remarks
on the situation under date of Octe-
Der l1th Messrs. Watts & Co., Of
Liverpool, give vent to the following:
The stock Of cotton held by English
spinners we now estimate at 100000
bales, against $1,000 last year and
l57, 1890 the year before at the same
date. The receipts from Bombay
from January lst to date have been
$4,000 bales against SSl 900 bales and
the shipments to Europe 599, ,OO0 bales
against 100000 bales, leaving on ship.
board 1900 bales against 1000 last year.
We do not doubt but that as soon as
we have a large import of American
cotton our exports will materially
increase, and the deliveries to the
trade may and probably will be large,
but all this may take place and vet
the spot demand here be very limit.
cd AS an evidence of the improved
feeling in cotton circles the same
authority says: So A number of mills
which have been closed, or working
short time for weeks or months past,
arc gradually rosuming fuIl time. at
Oldham the short time movement still
continues but this is amatter OF ncces
sity. The stock of American is so
very small, the assortment so poor and
spot prices so dear, that spinntrs have
been impclled to buy as sparingly as
they possibly could on the spot. In
order, however, to cover their con.
tracts for some weeks, and in cases
months ahead, there Is 40 doubt they
are believed to have been large buyers
Of cotton now afoat from America and
ofdistant deliveries. In other words
they are hungry for cotton. But we
y have a large import now at hand. y
The Manchester Guardian referring
to the revival Of trade in England
takes a hopeful view of the prospect
and says 4The wave of oommercial
depression which forced down prices