Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1880-11-25
SSt1isfellameoms &eadiug,
THE PAST AND PRESENT COTTON SEASON.

THE PAST AND PRESENT COTTON SEASON..
Messrs. Ellison & Co., of Liverpool, have
published their annual Review of the Cotton
Trade for the season of 1879 80 From which
We take the following: ..... ..-....
Twelve months ago there were already dis
tinct indications of an approaching recovery
from the extreme depression which had been
felt with intense if not exceptional severity by
the various departments of the cotton indus
try. The new season, therefore opened hope
fully, though with dash of timidity begot.
ten of a long succession of previous disap-
pointments. By degrees, faith in the reali-
cation of the long .hoped-for improvement
gained strength, and, before the close of the
old year, our merchants, spinners and manu-.
facturers were in the midst of revival OF
trade 80 thoroug gh and so extraordinary that
few dared to hope for its continuance. 1t
did continue however, and during the first six
months of the season, the transactions for the
immediate and forward delivery of cotton,
yarns and piece goods were unprecedented in
their magnitude, and exceedingly profitable
in their character, except where accompanied
by extravagaut speculation. In these six
months it is thought that at least nine months
production of yarns and fabrics were Sold
At the outset of the revival it was discovered
that the chief markets of the world we're bare
of cotton goods, and that no surplus stocks
existed anywhere. This induced buyers to give
out large anticipatory contracts, and the ad-
vance in prices which ensued brought orders
from all quarters. Middling upland cotton
rose from 6 7-16d. to,74d. per tb. 32s cop
twist from Std. on average to 3d., and 84fb
shirting from an average Of 6s. Sd. to one of
IS. Sd. per piece, and still higher prices were
expected But 30 much speculative antici-
patory business had been done that buyers,
deferred by the advance in values, and al.
ready we'll supplied by forward contracts,
began to withdraw from the market. The
result was that during the summer months
business was cut down to very small dimen-
sions, both here and in Manchester, the out
come of which was fall of 65d. for middling
uplands, to 9Sd for 32's cop twist and to
Is. Sd. for 8}tb. shirtings *
The dividends declared by the limited COM
panies show that the season has been prof.
table one to our spinners and manufacturers ("
Speaking of the American cotton required
for Europe during 1880 81, they estimate the
total requirements to be 61SSOOO bales of
400 pounds each, and the supply from other
countries than America 1,856,000 bales
4,432,00 bales of 400 pounds to be furnished
by this country. Last season the deliveries
to American spinners, to exports to Canada,
&C., as shown by the figures given in the
Financial Chronicle, were 1,854,934 bales,
against, 1,614,1 bales in the previons season.
This season they will require 100000 bales
more, say 100000. American crop wanted
(bales $50 pounds) 100000, against, in
1S79.8O, 5,757, 900.
The crop is required to give Europe 150,-
900 bales, and America 100000 bales, or a
total of $4,000 bales of 400 fbs., or 100000
bales of 45Otbs. more than last season, and to
leave the stocks in the ports of Europe the
same at the close as at the opening of the
season, namely, 677,00O bales, against $780,
900 in 1879, 656,000 in 1878, and 1,00l 900
in 1877.
As to price, much will depend upon the
development of the American crop. With
the present prospects, it seems only reasona.
Bile to look for lower average prices than
last season, which gave nearly I'd. per 10 for
middling upland but it is scarcely probable
we shall see so low an average as the figures
touched in any of the previous three seasons,
which gave 332d. to 5-16d. Trade will
be better than in any of these seasons, and
consumption will be much larger and more
regular.
Messrs. Smith, Edwards d Co., in their
Monthly Circular of October 30th, give the
following opinion as to the probable wants
of the world for American cotton.
We should say that the actual consumption
of American cotton in the world this coming
season will he about 100000 bales, suppos-
ing trade to be fairly prosperous; but it
must be remembered that we have held far
too small stocks at the close of each season
for some years past, and therefore we should
say that a crop of 81 millions will be needed
this year to prevent scarcity, and six millions
will be none too large to put an end to tau
tumn corners and give the trade a stable
and prosperous business throughout the year.
With regard to the prices that should rule,
we believe we interpret the best opinions
when we say that Gid would be regarded
as fair price with a crop of FIVE and three
quarter millions, but with six millions it
would be reasonable to expect dip to Cd at
some point of the season, and an average
price little higher