The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-02-22
COTTON.

icNciNeu W lhls CITY to-uay, lne larger pOr-
ton by rail. The roads are still impossible
for teams, and the small amount brought
in by wagon required four mules to draw
each bale. The storm of Sunday night
played sad havoc with the telegraph wires,
and only partial reports of the mar
kets have been received. Liverpool
was quiet and unchanged. New York was
nominally unchanged and dull Galveston
closed nominal
The exchange in New Orleans is closed
to-day ana will remain closed tomorrow.
In this city the market is quiet and prices
nominal, at our last quotations:
GOOD Ordinary .........................9 k
Low mlddling. Observation-Disclosures. 90
MiuuhiB ;;........... ,..... ............,,.. 1OA
noou inluullng. .,,...,............,....l 01s
Miuullug lalr ..,......,...,.... lOA
Liverpool cotton market was reported
quiet and unchanged, middlings 81, Orleans
= l-l6. Receipts 10000 bales, of which 49,
500 were American. Sales 5000, of which
1900 were American and 500 for exporta-
ton.
New York opened quiet and nominally
unchanged was reported dull during the
day and closed dull, middlings H. Sales
759
Galveston closed nominal, owing no doubt
to the Mardi Gras festivities. Receipts 800
bales.
There were no reports from st. Louis, the
telegraph wires being down in several
places between here and there.
MEssRs. SMITH, EDWARDS & Co., of Liver
pool, in their last monthly circular, thus
allude to the situation of the cotton trade:
1.-THE prospects of our market have been
very keenly discussed of late in connection
with the extraordinary and unlooked-for
collapse in American receipts. rhe great
feature of the month has been the apparent
drying up of the American crop, leading,
as it has done, to large reduction in cur
rent crop estimates At the end of the year
the iavorite idea in this country was
100000, though IN America lower figures
prevailed; but so bitter was the memory of
last season that the public could not be
persuaded to believe in so short crop as
the Americans constantly asserted.
Now, however ii is clear To every one
that the very bad accounts which we re-
ceiyc increasingly since last September have
had only too much foundation in fact, and
even the bureau estimate of 1900, 900 bales.
which we all thought so absurd at the time,
had at least some semblancc of the truth,
We have seldom or never seen so startling n
collapse IN figures as was witnessed this
month. Various explanations are rendered
To account for it, such as bad roads, spccu-
iative holding by planters, etc, but we
must admit that the unanimous opinion in
America, so far as We understand It, is that
exhaustion of supply is the true explana.
ton, The general opinion in the south
now is that the yield will not exceed 8, 500
600 n few in New York adhere to 8, $50, 600.
but Others 90 rs low as 5 10000. We ven
turc no opinion, except that the scale of
receipts during January looks more
| like 100000 than any other figure.
40 less wonderful than the collapse 10
receipts is the perfect indifference with
which 1t is regarded. Had any one been
asked in December to predict the effect of
such small figures, he could have conf.
IDENTIFY prophcsied sharp advance but a
series of events, which we have already
glanced AT, chief among which is the dis.
turbance of the money market and the dull
state of trade has neutralized for the pres.
ent the great reduction in our probable sup,
ply of cotton.
The large movement of crop Mt Bombay
and the heavy shipments to this country
also tend in the same direction, and il /.
coming to be felt that there will be no scar
city, even with crop OF $4,000, while
o,MO,OOO will yield sufficient"
The Couricr.Journal says the nationa
department of agriculture has made two
extra dives at cotton crop estimates thi,
year, probably under pressure from oppos
ing interests, anxious to reconcile discrep
ancies IN current estimates, The last gros,
results IN percentage by states were pub
lSheu through the associated press report.
yesterday. In the following table we com
bine these percentages with the actua
yield of 1850;
80,