Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-11-08

Sneeial 10 the Gazette.
New Orleans, La, Nov, d,'-McElroy
X 90. say;
Futures with New York closed on nc
connt Of the state election. all interest
ON this side was ccntercA in our market |
to-day. HiverpOol waS discouragng' |
c,osing easy at "a decline and with sales
VI ouly SOID bales Of spot
AZ our opening prices We're ycly steady |
ani Snmr advance was paid over lasi |
nights shortly aftrrward, but tho move
ulent stl continues too free to encoumge !
the holders of long cotton. AMI ihelf WI |
loading cause1 a decline OF points |
frnn last night One reason Tor Inc
softer feeling was the falling on IN spot
demand prices being easy ~ l-b4 ueahe,
while sales are rep0rtci to have been az
etill further reduction Ia Naiues luthi
sales We're only Zoo bales,
The interior, we understand, has been
offering very freely and perhaps TUG prih-
cinll reason for the decline w
prospect Of a very nntavouhle Voinpsll'
1 eon With last year IN the moyclnelt Tor
/ the next ten days at Houston, Mem
! phis and 81, Louis hut principally NJ the
4 former point. About this time year
I aga there was spell OF very sloN "
/ ecipts, and II Is with TINS si'o ~. s neSi
| thai we must now compare lot uhe heNt
week or ten days Il Is nccd'fSs 70 sH
/ that M matter what the reason. dalH
excess over last year Is mot eheouraslns
TO the bulls. ,,,.,.. a..
The New York Chronicle publishes Thy
princpal figures Of Mr. Ellison's annlAl
circular and gives his estimate OF SPIN
nrrs' requirements for the coming ssa-
son. These have causcd consluerNulu
| comment aud we are inclined 10 share inc
general belief that they are cNeess,IH
We do not forget however, That Mr.
Ellison stands alone la the position OF
authority on mill consumption and tl21t
his numerous critics have never been ahle
TO take his place Our criticism Is there
fore, Of the most friendly charaorr' hls
estimate Of the total Consumption nt
Europe for tue coming season Is -uuu1V
bales (of 400 pounds cach) greater than
the highest total ever before reaeheu
viz two years ago This total, by the
way, has been already seriously ques
toned, owing 10 the manner III whlyh
spinnors We're able TO keep ont OF me
market for So long time, showing PLAINLY
chat their stocks at mills mist nave been
far IN excess of Mr.. Ellisons estimate,
The consumption of America j. pui down
az 5000 bales gr'atcr than last year
II is well known fact that. many
! American mills have bonn running on
, short time, and some have been close !
DUNG the first Two months Of the present
l scnspn Their taldngs have been lnf
, below their short purchases OF lnst year.
aud II Is hardly reasonable, IN view OF
. the condition of trade in this country,
I, siIuc ns mud, cotton from now ON as
;, | they did ln.t season, mudl less make up
l. the loss already suffered ffrom rhnFi
time. We are inclined to think mat
American consumption must be put
down at 2OOO,OOO babes less than Alr.
. | l9Nsons figures. and European nlso 2Ol
, | 900 less. This would he lOu,OOO bales ol
4Oln uunds each on say 3DJuOO bales OF
v average weight, As Mr. Ellison ,hgnre,
on his basis rat u crop OF S'lthV0J
| ,,attt tt.t..l,A To, Ion the visible
supply where il was at the nd Of Sepirm'
Der, we must deduct from his hEun'7
30, 900 bales TO get our idea oil the
worlds ucctlS
In other words, according 20 otir deduct
!, tons an American Cr'p OF less than q,
:, S5uOlO bales would leave the present
! visible uudimnishcd, while any failing oil
! in consumption from labor. troubles oi
e ntler causes would only add TO the sur
= plus With this ns o basis, the holder'
- Of various crop views may be able t'
. form an idea for themselves of what IN,
. surplus should be at the end oil theseA
/, 4 crop of 7.OODOO0 bales would reduce
+ II 10 / .4n0,OO0 bales; Of 100000 TO onlJ
l. 1.0O0OO0 and 50 on. We are not losinl
=; sight however, Of the fact that spinncrs
u by their hand-to-mouth policy last season
l. must have allowed their stocks Of ruW
N cotton to fall to the lowest ebh know
- for several years, while the prolOnerl
> strike and curtailcd production naturally
:, assisted in disposing Of hg surply o.
q manufactured goods which had preyi
I, ously been such q drug upon he mnflci
- As practically the whole surplus is nov
- In the visible supply, II would be onl,
y, natural TO expect TINT spiuncN might h'
y inclined 10 rcpleniSli their depleted stock
3 | at any material decline IN prices,
= COURSE which would operate to cause
= large shrinSHgc In the visible supply br
II fore the end Of the season,