Weekly commercial herald. (Vicksburg, Miss.) 1884-18??, 1886-05-28

IN YoRK. May m. -.

NEW YORK, May 18th, 1896.
There has been a marked change in
the statistical position of cotton within
the last two months.
On the 18th of March the total visi-
bic supply was 267,894 bales more
than at the same date last year.
On the 9th of April all this excess
had been lost and the visible supply
was 1913 bales less than at same date
last year.
The active demand with the advanc-
ing prices which caused this great
change in forty-two days. greatly stim-
alated the marketing of the balance of
the crop, SO that on the 9Th day of
May, the visible supply showed 1888
bales more than at same date last year.
During the last week (the one end
ing May 18th, thelexcess in the visible
supply decreased to 1884 bales, and
l venture the prediction that after
this week, it will continue to decrease
much more rapidly until the end Of
the season. Last year at the end of the
season the total visible supply was
reduced to 100000 bales. A minu.
mum almost unprecedented.
1t looks as if a scarcity can only be
averted by an advance in prices to a
point that will check consumption.
AT present prices. there is every
prospect that the present rate of con
sumption will be kept up.
In the United States the consump-
ton of cotton is much greater now
than a year ago, with very much lighter
stocks Of cotton goods in the hands Of
agents, jobbers and retailers. There is
practically no accumulation of cotton
goods. This is the more remarkable
when we consider the extent to which
trade has been depressed by labor
troubles.
With all the complaints we hear
from Manchester of dull trade, small
profits and even losses, we do not hear
of stocks increasing, nor do we hear Of
heavy stocks of cotton goods anywhere.
Recent advices from Calcutta. the great
depot from which cotton goods are dis.
tributed in India, all agree in reporting
stocks eight" and demand fair to
good.
That the East is absorbing an un-
usually large amount of cotton goods
is further evidenced by our increasing
exports of them, especially to that part
of the world. For the last week 1.-THE
n ending May llth), we exported
9,527 bales Of cotton goods, of which
over 5000 bales went to China. 1t is
safe to say that we are not exporting
these goods at a loss.
Mr.. Ellison puts the consumption of
cotton in Great Britain and on the con-
tinent for the month Of April at 1000
bales per week more than for the cor.
responding period last year. There is
every reason to expect an increase of
2O,OOO bales per week in the consump-
ton for the balance of the season If
present prices remain current. Pres.
ent prices of cotton are fully Is per
cent. lower than they were a year ago,
and fully that much lower than any
crop has been marketed within 25
years. Last year a great many spindles
were stopped that are now running.
and many were running short time then
that are now running full time, both in
England and America. Times are very
hard now as they were then, and this
fact has been silently having its
influence on the consumption of the
necessarieS of life, and one of them has
been to stimulate the consumption of
cotton. People have very little SUI.
plus, and that has to be applied to their
must urgent wants. They need and
must have a certain amount of textile
fabrics for clothes and other purposes.
There is nothing that they can use for
these purposes that is cheaper than
cotton, or SO cheap. Nothing can be
substituted for it, or even mixed with
it, that would cheaper the goods; but.
upon The contrary, it can be mixed
with wool, flax or Silk, and thereby
cheaper the cost of the articles.
OBSERVER.