The times. [volume] (Richmond, Va.) 1890-1903, 1893-11-25
DAILY COTTON LETTER.

NEW YORK. Nov. 2i.-The following is
the daily cotton letter Of Atwood, Violet
* Co. by private wire 10 {. W. Branch
A review of the cotton situation during
the past sixty days shows about as fol-
lows: Up 20 the middle OF October Liver
pool sales were from 1900 TO l5UOO
bales daily, and spinners showed thereby,
a disposition 20 I'LL not only immediate
requirements, but future necessities, in
asinuCh as their supplies were unusually
small according 10 Mr.. Ellison, the Eng
iish authority on consumption. About
this time crop estimate was issued
by NELL Brothers of 100 900 bales mimi
mum crop. A prediction as TO the out
turn ten ana one-haif months before the
clQ OF the cotton year The English
ana Continental Spinners Immediately
accepted this estimate, with as much
feeling Of certainty as though the 3lst
OF august 1894, had matured and the
size OF the crop fully known, and from
the ddte OF issue OF this estimate the mar
ket gradually declined until on Monday
last, when the total had been more than
~ points lower than the prices ruling
before TINS estimate was promulgated.
Ihtu Followed the movement that did not
confirm large crop ideas, but during the
idst three or Tour weeks the movement
has been heaVy one, which still further
demOrdiIzed the long interest in contracts
ana the spot holder in the South. Crop
betting has been another element in the
situation TO bear cotton by betting ] 30
bales, i 10 Z on S,JO0OO0 bales. and
though we have not heard Of any higher
estimates, we suppose that about l 10 Ito
on H,UOuOUO would have been the prOpOr-
non. The moral effect Of this was 10
create the impression Of large CROP
as many people would loose sight of tie
oddS mat were offered. We have had
now from the decline Monday last
recovery OF 40 points, including the adj
vance or yesterday, Of which 10 points
have been lost The amount in sight
including this weeks movement viii be
reported this afternoon by the New Or
leans Exchange at about 3, 100000 bales
III round figures, which Includes stocks
at the weekly reported towns OF 3IS 900
bales, ana IN order to realize a crop OF
l,oDU.OD bales the amount 10 come into
Slghl after to-day until September LIST
must be, therefore, 100000 bales but
the character OF our information, and that
OF every other firm in this market and
at New Orleans, who has u country cor
respondent. is 10 the same effect-namely
"a rapid marketing of the crop. An aver
age OF lint per acre not exceeding IWN
pounds, with very little more production
IN some sections, and i'm others no larger
than last year. Now II certainly must
be that those whose figures have done
so much damage 10 cotton prices, in aGdi-
ton 10 The effects or q heavy movement
can only set their Information about the
crop from the same character OF people
that we and others get our information
from. They may be right In their es-
Inmates bur IN making them they must
have discredited their Information from
tbs southern planter and merchant, Nhai
the market may do will depend largely
upon how far the mind OF the lCrei5I
and domestic spinner can be dlsdD1seu
as 10 large crop expectations, anu We
suppose IL Will require a eomparauVelV
small movement 20 bring them 10 con
slider crop under 7,jOO,OOO bales. Ihe
whole situation q simply one OF pros
pective supply. and II the American or
European spinner does not take our COT
ton we Will have 70 wait until ne uoes,
whether the crop is 7OOO,VVO Da!es y!
= 100000 bales. Nc nave thouELt GI@'
the market would be better on TINS slae
because Liverpool should be better. W
forced Liverpool to follow the AmeIlcan
market last year Whether We can Iorce
her now IS the question. ner course VIZ
depend upon the amount OF offerings from
This side. whether large or small anu also
whether they 'yll reduce their crop eN-
pectations Interior stocks TINS week
OF uS.OJJ bales, against 10000 pales last
week, and interior receipts or lVa'VVV
bales, against 1900 bales last week
and 5000 bales last year. FORT receipts.
~ the lint per acre Is l6Q pounds "
means O crop under O.7OOOOO bales, even
v1lh the Chronicles acreage which j.
5unUo0 more than Nell Brothers acreage,
on lOpUOo bales less nan their mini
mum e.ffuenfa