The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-05-17

scarcely varied at all, the opening price being
s-sd for middling uplards and the closing price
il,l6d, surats owing to the large import have
declined u little, but the demand has so much
increased that little real weakness has been
shown, Egyptian cotton has been well main
talned under the prospect of scarcity, but quota
tons are not altered. The Manchester market
has resembled that OF Liverpool In so far as .
fair volume OF business has been put through
without change OF prices The position ofmanu
LECTURERS Tor the eastern markets still remains
very pad. The price of cloth is extremely low
compared with cotton; some of the leading
makes are as low as at this time last year though
American cotton takiug the average Of grades
Is Ia per o. higher We think Of late an in.
creased demand has sprung up for India based
upon the very low prices ruling but we can re.
port no improvement In the EASTERN marKets
when remain overstocked, with little hope of i'm
mediate recovery. do not see anything which
can change the p0specfs of this department
materially till the result of the next monsoon is
known, and that cannot be before September
Al the same time It seems likely that as p.ices
are very low merchants may continue to buy
moderately ana prevent any great acoumu-
lation of stocks in Manchester Other dc.
par,ments of the Manchester markets are in
a less depressed state. Yarn keeps in fair
demand at better. prices relatively than
CLOTH and goods for the home trade arc easily
saable. but yield little profit owing to the trans
Terence OF many looms from the eastern trade
ne general characteristic of Manchester is that
the very large production is moved oil without
very much difficulty, but at prices that leave
llttle return on the capital employ ed 1t is PROV.
ing disappointing year to producers but not
more so than any one could have tpreSeen with
so short an American crop Of cotton. The pros.
peTts OF our market have not materially altered
Oh la'e INC american crop viii, apparently, not
vary much from 5iO0,0O,g something will, of
course depend upon the amount of new cotton
received in August The wonderful thing is
thsl, III spite OF decrease OF l,A0,OOO bales in
me crop the visible supply for the world is only
.S,otO bales below last year, while that for Eng
land Is l6lOOO bales more both English
and continental spinners are also be.
leyed TO hold larger stocks than last year
me principal cause of this unexpected
result is of course, the extraordinary crop of
western Iudia, It now seems probable that
Bombay viii ship 100000 bales more than
last year up o the monsoon and as there was
also considerable increase in the aiter-monsCou
shipments OF the last year Europe will receive
AZ ieaSt half million bales more East India
cotton i'll the twelve months ending October
ihhn III the previous year. This large slt llus
mas undoubtedly STAYED oil an extreme ,csrrity
IN me autumn At one time II seemed doubtful
whether the trade would go largely upon Surats
III pl zee OF American, but that doubt is now at
an enc splnners are buying and using Surats
very freely, the excellence of the crop ami thp
poor style and high price Of low American com.
pine 10 driVe them in that direction aud it is
Clear that American cotton will be relieved from
much of the demand that would otherwise have
come upon it, We are. therefore, of opin.
ion that there is no real danger of scarcity his
autumn, not even of American cotton, and we
see no indications thus for OF a Corner being
attempted We incline to think that we shall
mold In the aggregate as much cotton in the au-
tnmn Of this year as last. but no doubt much
more OF II will be Surat and much less Ameri,
can. Ne therefore think the general level of
prices high enough, and do not share In the ex-
pectation OF higher prices in the autumn. We
think the present price for August Scptem-
Der delivery of middling uplands, say 69.@.67,d
fully discounts all reasonable expectation OF i'm,
proyement. As to sufat cotton, DO doubt we
shall pass through u time of weakness and very
heavy stocks but 1t seems doubtful IL much
lower prices will be established. Both trade and
export demand are now so good that holders are
not likely to press their stocks and In the finer
grades 1t 10 possible we have already seen the
bottom The continent having taken the same
as last year from Bombay and left all the exccs,
for England, will likely buy freely In this mar
set during the summer and autumn Taking
all things into account we do not see that auy
change OF Importance Is to be expected In our
market at present The stock win rapidly in.
crease, and probably exceed |, l0O,0O0 bales In
June; but with cheap money and spinners dis
posed TO Keep mp their stocks. we do not think
holders Will show much weakness.