The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-12


Indian, in consequence OF the partial fail
nro Of the East Indian crop, has been some
100, 900 bales less than in 1887, and that
the deficiency has only been partially
made up by the large supply OF American.
In an ordinary year this deficiency in In
dian, counterbalanccd RS il is by the larger
American supplies, would probably not
have had any apprccidble effect beyond
that OF
PREVENTING PRICES FROM FAILING,
but other factors have this year been at
work. The new American crop, which
usually comes forward in considerable
quantities in September is this year very
late, AZ the ingathcring was retarded and
the forwarding delayed by wet weather,
bad roads, a corner in bagging, the yellow
fever scare and the difficulty in securing
transport. Added to all these incidents
there Is the TACT that now that cotton has
become scarce Spectators have stepped in
and bought up a considerable quantity OF
the already limited supply. The result is
that prices, rs we have mentioned above,
have been raised until Gd per pound has
heen touched.
"TnwARTISG THE SPECULATION"
With this condition Of affairs, and with
the estimated stocks nj Liverpool reduced
10 some 232. OnO bales, or nearly 10000
below those held a year ago, it was seen
that there was every reason for the trade
20 curtail consumption until fresh supplies
arrive. The action Of the spinucr8 last
week In deciding 10 run hall time during
the next month was considered the only
means Of thwMtipg the Spectator. The
partial stoppagu entails considerable los on
both spnners aud their employees. vet
such action was deemed TO be better Than
playing into the hands Of the Spectators.
With regard TO the future prospects Of tie
market TALL IN prices il not regarded as
probable for some time to come, unless,
indeed, the stock, at Liverpool have been
very much undercsima,cd, which is, how
ever not believed to be the ease. Spin.
nors are well under contract, 80 that the
present
PARTIAL CESSATION oF PRODUCTION
viii not he continued longer than is abso-
luicly Necessary In order 10 prevent the
price Oi raw cotton going higher Sup
plies from America are not expected 90 be-
sent forward in large quantities Tor some
little time, owing 30 the difficulty expert.
Cnccd IN securing ships, which, In c0nse-
qupuCe OF thc short wheat crops Ia this
country and Western Europe, are this
year engaged Ia transporting much laig z
quantities OF cereals than usual Lastly,
freight rates have risen very considerably.
On the other hand, the new American
cotton crop Is again expected 20 be large
onc-largcr than the last, seeing that there
are now 1879 acres under cultivation, in
contrast with ISIS acres last year, and
the condition Of the crop, though back
ward, h. reported TO be- favorable. Whom,
therefore, later ON, the new crop C0m-
mrICls to he received IN any quantity d
iall in prices will doubles be witnessed.
There ave, however, several important
factors which render
FALL 20 TOW PRICES iMrgoHAuLt.
Spinner viii require larger quantities p
cotton IN order 10 make up their stocks
which will have become depleted. lm
proved Trade D. expected 60 continue. tn.
larger imports of cereals into ih.s country
will give nations We buy grain from
larger spending capacity. uHl doubtless
Manchester gUoIs will benefit thrplrom
willie the great efforts now being made @,
develop now fields for our manufacture
and The increase in the population 90 lh.
countries already large customers %. ours
which have io De- taken account ui, uUIF
it unlikely that the iutuFu demand viii ID
lcs. than 10 lir past Ali these ccum
stances, therefore, point 90 ihg fact that
large crop will be- required 10 meet tho DC
maul, aud that CALI IN prices 10 thg qu1
ia,ious cuuvn, in 1856 is Improbable.