Savannah morning news. [volume] (Savannah) 1868-1887, 1882-08-21

Consumers and the Supply-Pfoba.
BILE Eject OF the New Crop Re-
cefnfa.


The following article from the New York
Evenirq Post will be read with special In
terest at this time:
"The view we took on July IS OF change
TO be expected at Liverpool, as soon as
holders there would become aware now
little cotton they had to look for by ship
ments from this side, and which was then
seemingly entirely disbelieved at Liverpool,
has since been fully realized. Middling
upland ruled on July 10 at 15-l6d.; the
present price is 71sd., and August-Septem-
Der deliveries have advanced from
$50 64d., to z 4-64d. If the amount of Ameri-
can cotton forwarded from ships side
should have been larger than reported,
as has hitherto always been the case,
the stock of American cotton on September
% will even be less than assumed by us on
July 19, especially as the takings of spin
ners have since been 10000 bales per week,
instead Of $4,000. To go quite safe We pur-
posely estimated them low. The continent
continues to purchase freely at Liverpool
All circumstances for the present point to a
further advance in that market. In fact, the
idea of large stocks Of American cotton on
September 30, In consequence OF estimated
very heavy supplies at the mills, free ship.
ments from this country, and India cotton
going largely into consumption, has been
eve wrote on July 10, that II August de-
liveries as was threatened should be largely
rendered to swamp the market, 1t was quite
possible that August would be taken by
spinners, exporters, and on speculation, at
from II go to 20 On July q, notices of
delivery were literally sent out early In the
day, but when it became apparent that they
had been taken up, issues ceased, and Au-
gust closed that same day at II Is to 70, and
cd ro n 12 M The nrfOn
has since luctuated, and was again pressed
down at one time to IL 70. The unusual
measure resorted to by those who issued
notices in demanding certified checks In
payment before actual delivery Of cotton on
August contracts, failed OF its purpose. and
the price yesterday closed at II IS to Sc.
"The temporary decline of futures and
of middling upland on the spot from 10
1.16 to 13 misled some to believe In down
ward movement, but If they had looked be-
low the surface they would have perceived
that the actual state of things pointed the
contrary way. Our stocks at the ports
are already reduced to 154,637 bales,
about 10000 bales of which are
partly on shipbosrd aud partly sold.
to twenty days, receipts Of any moment
cannot be expected before the middle Of
September, and to the end of August they
will be quite small. The weather in the
South has been too wet, causing too luXuri-
ant a growth and creating the appearance
of worms, whose increase is much feared,
unless there should be, as is greatly to be
desired, a complete and lasting change.
Under the most favorable circumstances,
on a decreased acreage, $780, 900 bales
would seem to be the utmost posi-
BILE yield of the new crop, and
every bale of that amount will
be needed, for the stock of American cot
ton everywhere will be exhausted; the sup
ply of heavy bales of Egyptian cotton has
ceased for the present, and may fall greatly
short during the season of the usual amount
of $50, 600 bales. Europe will receive from
October l. 1881, to September 30, 1882,
about 100000 bales East India cotton.
Part of this will consist Of old stocks
brought forward by the enhanced value.
One and q half million bales from India
was hitherto looked upon as
heavy impnrt lin 1877 to
1878 and 1878 to 1879 It had fallen to S44 900
and '979 coo bales.) Even if we now take
as possible supply from India, 100000
Egypt Qnstead of 100000 bales) at 100000
bales, other countries at 1900 bales, our
crop at 6, 100000 bales, thefe would be a
total supply of $3.50, 900 bales. The United
States, Canada, etc., will require per week
about 10000 bales, Europe about 10000
bales, which gives for fifty-two weeks
s $4,000 bales. So long as the result Of our
crop is uncertain the present prices cannot
be called high besides there can be no
doubt the first receipts, owing to scarcity Of
long stapled cotton, will find unusual COM
DetftfOn,n