Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-09-01

could be handled without dlticulty, and
one of6,6O0OO would afford no inconve-
nienee to business.
Tho month Of November witnessed
seven variations in prices of c>..or here.
three being advances Of a slight nature
near the middle Of the month, caused by
tho killing frosts which visited the entire
South. Here thin ice formed on the
morning Of November 18th and the frost
killed vegetation all the way 10 the Gulf
coast. The temperature here dropped to
| 50 degrees, and was as low as "a and SO de-
Rrees az far south as Mobile. At this
point over O. inches Of rain fell, and on
eighteen DAYS. In Texas and along the
| South Atlantic coast it was very cold.
| However prices declined hereduring the
month a total of y TO &c per ID on the
various classes. The weather was gener-
ally favorable for gathering cotton during
the whole Of November, and rapid prog
| ress was made toward saving the crop.
| About the close Of the month estimates
| began 10 be made, and some were very
high, putting the total up above the largest
on record in many cases. By the 18th OF
/ November the amount which had come
into sight was 2,325,666 bales, and within
81 1926 bales Of the same time the year be-
fore. Sales here during November were
SS.425 bales, of which exporters took 3D.
$50, spinners 27,Z5, and spectators 1850.
News from Egypt during November
| reported the acreage Of the crop then
coming into market as about the same as
the year before, but the spring was cold
and backward and in many cases replant-
ing was necessary, while both summer
and autumn proved unfavorable. The
political troubles caused withdrawal Of
| credits in some cases and coal for irriga-
ton fell short At a later period, in Aug
ust, the military confiscated the fuel in the
country, and in September serious fogS
produced worms. SO that not more than
| two andA quarter millions cantars of90 lbs
each was anticipated. Besides il was ex-
pected the yield would be Of a weak sta
| pied description, as insufficient irrigation
generally produced this effect.
From India news impaired as late as the
middle Of October was that the acreage
was equal to the previous year, and as
monsoons had been favorable, the pros
poets were good both for quality and an
average yield, and early arrivals were
anticipated.
In December there were but three
| changes of quotations during the month
and no decline was sustained, prices clos
ing the same as they had opened, mid.
ding being csc. For nearly three weeks
it was &c above this quotation. The
feeling was strong throughout and sellers
generally held above buyers views SC
that sales for the month were 1850 bales
and nearly 1000 less less than the previous
month. OF the quantity sold exporters
took 1880 bales, spinners q, 700 and
spectators 1000 About the second week
Of December stains and off oolors began
to enter the market, the result of freezing
and unfavorable weather. On the l4t6
they were first quoted at the Cotton Ex-
change and &c below other qualities
Three weeks later they fell to &c and Xc
below unstained grades. Between the Isl
of December and January 10, a period OF
six weeks, a small quantity Of fair cotton
entered the market and 1t was quoted at
from 10%c to lie per ID, a cent and q
quarter above mlddlng. The receipts OF
this superior class were, however, mea-
ger, and its extreme scarcity caused it to
be omitted from the list of quotations
after January 10Th. The stock on hand
here which was 80, IT'S bales on the 1st OF
November, increased 10 upwards of l0l,-
900 bales before the end Of December,
and were the heaviest Of the season. The
condition and magnitude of the crop be-
gan 10 be realized by buyers and consul
mers early in December ,Iwhile sellers and
producers, impressed with the idea that
there would be a demand for all that could
be saved, maintained stiff views regard
ing values. Early in December the news
from Texas was to the effect that picking
was making good progress except when
interfered with by cold weather, but il
was further stated that the entire crop
would never be saved. Along the Atlantic
coast and in Central Georgia, however,
the picking was drawing to a close the
second week in December. In New York
prices for middling opened at 10 7-I6c
and fell 10 l0Zc, n decline Of 3-l6c, but
it closed at 10 7-l6c, the same as it opened
In Liverpool prices opened with Decem-
Der at 8 l6-l6d for middling uplands and
closed at sid, a decline of 3-l6d.
The end of December saw the worlds
visible supply at 3,066,96l bales, an in
crease Of I,22l. 54S bales in two months.
At the same time it was 10 ll6 bales in
excess OF the previous year, 293,872 in
excess Of 1880 and 602, 75l more than in
1879 at the same date. The cotton which
had come into sight in this country at the
end Of December was 4, 1853 .944 bales, an
increase over the year before Of 2l3, 76g
bales. Mr. Ellison at this time reported
the consumption in Europe for nine week:
ending with December lat l,l6S,000 bales,
an increase over the year before of 5000
bales, or 5000 per week. He further re-
ported that ever should the American
crop prove seven millions Of bales or more,
with the prospect of continued large con.
sumption, prices would not be apt to sink
much. The Agricultural Departmet re-
port issued December 18th, set the total
crop at Q, 100000 bales.
In his annual report Of the cotton trade
Of Europe for 1882, issued during January
last, Ellison estimated the American orop
at 6,SO0,000. BE deducted 2,263, 900 bales
for American spinners, use, being III.
900 more than last year, and allowed fol
European export the remainder, amount.
ing 1881, 900 bales. He estimated Euro,
pean receipts from India at !, 100, 600 bale
after January LIST; from Egypt, 1871, 600
Brazil, 2s8,000, and from sundry sources
$1,000. The total supply according to Eli
sons figures gave a weekly quota Of 1871,
600 bales Of 400 lbs each, against 1873, 00
bales used for the first three months Of IL,
season, or an aggregate from January !
TO September 80, Of 6,l28,O00, and tn
total receipts in Europe from all source
was set down at 0,l60,U leaving a stoc.
on hand of ,052 900 bales. The weekly cor
sumption for all Europe during the yea
ending December Slst, 1885,, was 1850
or a total Of 1885, 000-balss Of 400 lbs eaci
OF this England consumed 70,750 bale
\ weekly, OF a total Of 3,679,000 bales. Tn
total stock in European spinners' hand
|, g9nsry lst iS3, vas given at 292,000 bale
Of which 1900 was in England and 2i2
! 900 on the Continent. The weekly cor
sumption Of Europe, as before remarked
in '62. averaged l3l, 800 bales, but for tn
3 closing three months Of the year il We
1856, 600 per week, and in June, '93, It in
creased to 1856, coo weekly, bales Of an aver
age weight Of 400 lbs. On the l.
OF August, 'S3, Ellison estimated Eng
lands consumption at $4,000 bales fo
the remaining nine weeks 10 0ctobe
LIST, or IN per cent greater than las
: year. And the same authority reporte
the exports Of cotton from all India
{ Europe during the year 1882, closin
December 81, was l,772,940 bales, an ex
cess over 1881 Of 657, 200 bales. The ship
ments were from Bombay, Calcutta
Madras and other smaller ports. OF th
amonnt l,04S,OO bales went TO Grea
Britain, while 720,600 bales won't TO th
Continent. Ellison's report for the tw
years ending with December 81, 'sl an
'92, give the following as the imports int
Europe from all sources, showing an in
crease for 'S2 Of 1853, $40 bales:
PORTS. 1889. 1881
American ....... ......l 3,085, 7S0l osI Id
East indian. ..............~. LINZ. e40l i,i6S'Sl
p~Iahlian-'''''. '.~.-'"~. s5,lso 800 IS
kgyptian- .............- .....l 934ltI I'D m
Peru and West IndeI-....I si,lGOl RE
smyrna etc ....- .~--.- 43.6i0l li;fi
Iotsl..-=.--.-.-.-.... Q 6S $40 6,2s2, 20
The new year opened with tho cotto