The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-02-23
COTTON.

During the year 1881 there were produced
in the United States 6,G05, $50 bales of cot
ton. Only 1888 Q2S were consumed in this
country.
The following is extracted from Ellison d
Co.'s annual review Of the cotton trade
Eighteen hundred and eighty-one witnessed
a continuance Of the satisfactory condition
of trade exptr enced in its immediate pre-.
decessor and in the latter half OF 1879. II
increased demand from the whole of the
foreign markets, combined with an i'm
proved home trade, has enabled spinners
and manufacturers to dispose of greatly
augmented production of yarns and goods
at fairly remunerative prices. This Is eva.
dent from the fact that the spindles and
looms have all been working full time
throughout the year Except u temporary
stoppage in the Oldham district for a week
or so in September), and that very proiita-
BILE dividends have been declared by the
various limited companies. The year opened
with crop estimates ranging about 6,O0O,OOO,
and with midland upland at 63d.; but II
soon be ne apparent that the supply
of AmeiS>ln would far exceed the
figure named, and as the year ad-
vanced prices rapidly declined, uhtll 2fu,
wac touched I'm MAY, So sharp decline
was not justified by the circumstances OF
cotton on its merits-it was the result OF
financial weakness and general demoraliza-
ton. So soon as this became apparent a
reaction commenced, and did not stop until
I'd. was touched. Then, after sundry tluc-
tuations, came fresh squirt to 1-l6d; m
September. This price, like the 5ld. touched
i'm MAY, was artificial, and, in October, at
ter a temporary dip TO 6sd., owing 10 pres
sure 10 sell, the price settled down TO 6sd.
Since then there has been but little change,
and the new year opens with middllng up
lands at q ll-lGd., with fairly good pros
meets. provided the interests Of spinners and
manufacturers are not injured by the specu-
latiye mania which is just now running Us
course in the United States, much TO the
narplexity of bona iide traders.
After giving tabulated statement o. the
'-,urse OF prices. the imports deliveries, etc.
and the consumption Of Great Britain for
the past ten years, Mr.. Ellison says Of the
PROSPECTS ofsupply and demand:
The size Of the American crop has ways
been a theme Of more or less animated con-
troversy during the winter months; but the
discussion has rarely, If ever, attained the
vigor witnessed this season nor last, nor has
the divergence Of opinion ever been 70 vide.
The reason Is that the movement oithe
crops have undergone considerable changes,
owing (alOng with minor causes) to the ma
ufnuiatiOus in connection with the eKtraOr-
dfnarv deveiopment Of the business In ''fu-
turesf AT New York and New Orleans aud
TO the Wild aud widespread spirit Of
gambling speculation, d which this devel-
0pment Il the result A large part Of the
crop is moved hither or thither. slowly or
rapidlv. according 90 the requirements o.
the var.ous "rings' and 'syndlcaies
which. with more or less success. coutrol
the market. and whose mysterious Opera-
ti1us completely mislead the nervous spin
ners II Europe and America a. 90 t.ic Iull
titv Of raw material likely % be avaIisl.e
~ consumption. During the four comp
ative Quiet seasons before last, we were
able o. make fairly approximate estimate
% file rruu