The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-03

above an average, and the shipments to Eu-
rope were more than usual. The
receipts show large falling
or as compared with those
of a year ago, but Notwithstanding the stock
on hand at the ports and inland towns is
in excess of that of last year at same date.
Prices in this city are unchanged and nom
/ mai.
/ GOOD Ordinary .......,........ 9]E
Low middling ....... ...........,.,...... or
Mldung, :..,,,......, ..,,...,,,....,. l0ii
Good middling lOyi
Middling fair. ACKNOWLEDGEMENTS. l0A
In Liverpool the cotton market was
quiet and prices unaltered, middlings O.,
| Orleans ll-l6. The receipts were LOO
bales, none American. The sales were TO-
600 bales, OF which 1000 were American and
| 1000 for expectation and speculation.
| New York spots opened quiet and nomi-
nally unchanged, and the market was re-
ported quiet az the close, middlings II 11-l0.
Sales 5l4.
New Orleans opened quiet and closed
strong, middlings III. Sales I 900.
| The Galveston market closed firm, mid
dlings IN Receipts l45. Sales 8, iO6 bales.
St. Louis closed quiet, middlings 1ls.
Receipts 3i5. Sales 1S5. Shipments l,79i.
Stock on hand 72,i76.
The cotton movement shows the net re-
ceipt, to be 40,27l, against l07 ,5i3 the cor.
responding day last year. "a falling off of
1922 bales. The exports to Great Britain
were 1919 continent, $3.50; France,
| | ,63I channel ports, l2,S67. The stock on
hand at all the ports was |, O22, 42l bales.
THE following is extracted from Ellison's
monthly cotton report of February O.:
Certain ingenious, and not over scrupu-
lous, critics affect to be surprised that
whereas, in October, we calculated that,
under certain conditions, the world could
do with an American crop of 6,2l5,0OO bales,
in January, under very different condi.
! tons, we estimated that crop Of $500 900
bales would be sufficient; but they are not
honest enough to state the grounds upon
which the two estimates were given. 1t
does not suit their purpose to state that in
| o, tober we said that crop of 62l5,0OO
would give all the cotton required by the
world and leave the stocks in the ports
and at the mills at the close as large as at
the opening of the season, that is, l,iSS,000
bales, against ! ,007 900 in 1880 and 5000
| in 1879, and that I'll the stocks were reduced
| to the level touched Mt the close of Septem-
Der, 1850, there would remain isl, 900 bales
available for consumption, in which
case an American crop Of 5,73i000
| bales would suffice for the probable wants
of the world Nor are they straightfor.
ward enough to say that in view of the then
| prospect of supply We stated that whatever
might be the fluctuations in prices, the
average would be rather under than over
that OF the previous season, which was
6id.
Since October very important changes
! have taken place IN respect to both suppy
and consumption. The current estimates
of the probable outturn of the American
crop are considerably reduced, but the ex.
tent OF the yield is still a matter of guess
work. The result Is that prices, instead of
sinking toa lower average than Cad, have
risen considerably above that figure, while
an important premium has been paid for
dista.t futures. The advance in prices has
checked business throughout the world;
the working up of old contracts has kept up
an appearance of activity, but the slow giy.
ing ont OF new contracts has made IL
impossible for producers TO get
an advance in prices equivalent TO
the rise in cotton, and already stocks
are beginning to accumulate, The
advance In prices has disclosed the fact that
the enormous production of the past two
seasons has not yet gone into consumpton,
whereas, if prices had remained ut a low
level, this circumstance would have re.
manned out of sight until much later In the
season. In this respect, therefore, the out.
which presented itself In October.
Moreover, while the supply OF American
cotton promises to be smaller than appeared
probable in October, that from India and
miscellaneous sources promises to be much
larger. This accounts for the revised est.
mates given In our January annual, which
compare as follows with the figures put
forth In October:
Actual import Est Jan. Total for Oct cs,l.
Oct 10 bee. to Sep. season mate
East Indies. $4,000 La 200 iptooo i,iSIo O
s ssSps.""iHgSS S 1870 1870 iie,N 5000
- - ,v,vV SVV'Vv
Total. ".. ieSool isSo,coi ASSOC Lwlto
! Average weigh. ...s,..u.. SQ3 10 OH
bales OF teJ los. 49,. .".,.... gJptuQO p0nO,e
There Is here an increased probable SIM.
ply Of 3i4 900 bales OF 40 pounds, IA nrirrs
instead OF sinking below Gid. have mi.
yanced TO 6sd for spot cotton, and 10 ,ii 4,
I'd. for distant futures, the large stock with
which the season commenced may safely be
trenched upon 10 the extent OF 3,b. OU bslcs
as the quantity lett will still be over an al
bales larger than in September, issi. and
nearly ypO,oD bales larger than IN Sentem.
Der 1850 In October we estimated IN.
probable requirements OF Europe nj i2s lln
bales per week, but ms activity reipneJ IL
every manufacturing centre. and ne nr,c.s
promised TO be rather lower than AZ nr..
vious seasons, we thought Il possibia ,hs,
u .ne actual con sumption might reach IL. !.
~ omes per week. Now, however, with
tne enang aspect of affairs, brought
soou, ny h'gher prices, and by the discoy.
cry 'nat the leading markets are full Of