The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1886-10-30
n INTERESTING LETTER
kanters, Cotton Boy ers, Shippers
And Others.

lave received u UeduIllully UouHt
inted book of Latham, Alexande
bankers and commission mer
New York, containing tht
movement and fluctuations from
1886" This elegant book con
Valuable information in reference
bn and is of vast importance to the
sellers, buyers and shippers o;
eecy staple. 1t has the cotton
of all the States in the South, the
trade in Egypt, etc. AS Latham
hder & Co., are amongst the best
most reliable and largest commits.
erchants in the world, we publish
owing letter from them in full,
|ng that it will be read carefully by
mers and others, as it contains
lie information:
NEW YORK, Sept. 2Sth, 1856.
3otton crop of sthe United States for the
at ended on the 3lst of August was
bales, gain of of s69, ,526 over the crop
rear, but o decrease of almost halt a
bales as compared with the project
lSS2-S3.
the business year just closed cotton
etuated within narrow limits. While
as been very good demand from
cturers, as is shown lby the large TAX
~ bur spinners, there has been an absence
@peculative activity that is the main
6f Quotations.
Ing upland sold during the greater
EXxfSeptember at 10 cents, gradually de-
% 9L by December, and remained at
&Ethat figure until the latter halt of
llfy; a sharp decline then occurred.
5Ince the opening of the season accounts
y &IIiverpool nd;,Manchester had been un-
fble; fear oflwar in Easrern Europe had
0ver the markets during the entire
W ;large crop estimates had prevailed
y free movement of the crop had sgiven
I to them. To these untavorable influeD-
O rather extended stoppage of New Eng
mills, on account of strikes and floods,
added in the latter part of February, the
le resulting in a decline that carried pri-
D the lowest point reached during the
ID Year. Middling went to 1916, and
ust contracts, which had opened at 1869,
down to 9-02. November contracts toueh-
'7a
I6 Bureau Report, which had been pub
ia On the 18th of February, and in which
crop was estimated at 6,50O,O0O bales, had
Id Immediate effect in checking the de-
j (; but in the first week of March dispo-
d ID accept this reduced estimate; Il
|or orop movement and very cold Gather
u 9soutb, led to purchases to cover Many
|es also .changed sides on the market,
|4duicl1ly rose to 9-75 for August contracts
! to 3-16 for middling. During the re-
ndor of the cotton year the market varied
middling never selling far
/ eN cents in July it ran up to 99-l6, and
le close of August, the end ofthe year, it |
again . 3-l6. August contracts varied
cen 9-75, the figure quoted above, and 9-O3 |
q close ofthat month.
ting most of the period between Febru- |
md the end of August, accounts from /
l TO this was the effect of belligerent |
|ments in Eastern Europe, considerable
cal Excitement in England, a decline in
ito the lowest figure ever known for it,
ONE annoying, though exaggerated, labor
les on railroads and in manufactures in
"A regard to the new crop, 1t is by no
il sure that there has been any increase
! sacreage devoted to cotton this year, as
ared with last. Whatever slight increase
10 whole cotton belt, there may have
At the start, has probably been lost by
of considerable land in
der cotton States, in places where too
K min had given grass and weede the
hand. Planting was in general, season.
but since then crop ac-
1Ahave not been entirely satisfactory,
for brief period. During most of the ..
they have at best been only fairlyg good,
~ times excessive rains have prevail
ONE sections and drought in others.
either has not been so favorable this
4lhst, although the latter was only an O
;e year for cotton growing. :
,Wseems probable that even with a late h
9 new crop will be smaller than that Of {
AR On this point we accept the result t
mpny estimates published in the Crop =
Vi In subsequent pages OF this book. a
IRE exhaustive, and coming, as they do, "
very section of the cotton region, are II
III more accurate than any estimate Il
AZ banker or merchant can make on b
4 Responsibility. il
1ton spinning has not been profitable p
The past year in some parts of Europe al
Nv iniEngland, no such complaint can q a
< as regards this country. Our spin IL
we taken cotton largely, the mills pl
114de money, and at the close of the Sc
1oks of goods, in first hands, are quite 81 81
~. Manufacturers prospects are good ey
~ sppinningicotton at much lower 1,
IN last year and all former years, J.
EHospering. AS a consequence of this, z,
new cotton machinery has been Or re
~ is fast being delivered, and the ps ~
a9power Of this country will soon be W
Q1ly increased. os os
PORTS OF cotton have been large, reach ~
2O3 bales. The grea. importance of I.
NQn as an article of export, and the X
~ value of the cotton crop of this Of
q strikingly shown in the table on q ot
AGe of this book.
81 the exports of cotton from the si
ktates, those from India were large r
- Egypt and other cotton-producing of
- were fair; yet this total visible n,
ofcotton in the world is now smaller ed
: years past. being, on the 18th of Sep (F
.1l,O25,51 bales against l,lO5.472, last w
&7'274 in 1884, and l,e25, 1853 bales in 1853, wi
rice of middling uplands in New York he