Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1881-06-23
COTTON VIEWS ABROAD.

MONTHLY CIRCULAR OF SMITH, EDWARDS & co.
Messrs. Smith, Edwards & Co., Liverpool,
in their last monthly report on cotton, re-
mark:
The prospects of our market have not al
tered materially during the past month. The
favorable features are the healthy state of
Manchester and the large absorption of cotton
that may be expected during the summer
and autumn, and the very moderate figures
of stock that we shall reach before long. 1t
is rather a remarkable fact that the excess in
visible supply for England is now only $4,000
bales over last year, while our spinners hold
considerably less than last year. These 6g-
ures evidently point to very moderate stocks
in the autumn and possibly some attempts to
squeeze up the market as happened the last
three years. At the same time the accounts
of the growing crop i'll America are extreme
ly favorable. A somewhat larger area has
been planted, immense quantities of fertilizers
have been used, and the first point has been
gained for large yield by a favorable sea-
son during May. American opinion is in
favor of increased cotton crops and lower
prices for the more distant positions, and this
is shown by the weakness of new crops and
the absence of all desire to buy on speculation.
On the other hand, it has to be said that at
this time of the year sanguine expectations
of yield generally prevail, and usually in the
autumn contrary current of opinion springs
up; it was markedly so last year, and it may
happen again, and if any serious backset &C.
Cured when our stock in Liverpool was
small, some temporary excitement might be
superinduced.
The chance of this will prevent specula-
tors "bearing" the market for the next crop
at the low prices which now prevail, and it
seems not unlikely that time of quietude is
before us, in which the steady action OF the
trade will support the market without much
bias from speculation either way. 1t is gen.
orally thought that 10 further financial diff
iculty will be experienced in the settlement
of contracts, and as the stock will rapidly
abundant, there is not likely to be any pres
sure to sell the lower grades are still the
cheapest, and it is quite possible they may
harden during the summer and autumn,
without an advance on the better kinds.
One feature is worthy of notice. The low
prices ruling have diverted from England
considerable share of the Bombay crop, and
the consumption will run more upon Amer
can than ever known before. The large
quantity of dirt in this crop also involves
much waste in cleaning, and considerably
more bales will be spun up than in such
year as last, when the quality was very good.
The Manchester market, during the past
month, has been healthy in tone, and prices
have been well maintained, but we cannot
report much activity. The demand has slack.
ened for the large Eastern markets. and some
anxiety prevails respecting their power to
digest the immense supplies that have gone
forward. AS manufacturers, however, hold
large contracts for cloth, extending in many
cases as far as August, they are rather indif
ferent about fresh business and no serious
weakness will be caused in Manchester at
present by the quiescence of the Eastern de-
mand. The more important question is, will
it revive in the autumn if crop accounts from
America keep as favorable as they are now