The times. [volume] (Richmond, Va.) 1890-1903, 1894-03-16
DAILY COTTON LETTER.

Following is the daily cotton letter Of
Atwood, Violet & Co, Of New York. by
private wire 10 G. W. Branch 4 Co:
the worlds visible supply September /.
1893, was 2,s63,oco bales. price Of middlings
AT Liverpool. A; on September l.. lss-,
$40 bales, middling, AZ; on September !.
seDtem 3ss' s salss @Id SaIes mtiin on
1916; on September /, 1855, 16i1 900 bales.
middling, s, on September l. 1887, i,sl 900
bales. midiling, bis; on September !,
1856, 10000 bales, middling,. 5 7-l6. The
estimated total supply OF the world for
lss3-9i is l3,Sl3,00o bales from all sources Of
900 pounds per bale OF which Great Britain
VIII consume at the rate OF 5000 bales
weekly, or $4,000 bales. Continental Eu-
rope AT rate Of 50 900 bales weekly, or
i62s,0co bales; United States. Canada, and
Mexico, 10000 bales. a total of II ,l8sWo
bales. leaving, therefore, II these est
mates prove 10 be correct, on the LIST OF
September next 1,b25,000 bales, which will
BE- the smallest supply on that date. with
but two exceptions. according to the
above table, In eight years. The price OF
middling AZ Liverpool to-day is ~. We
see from the foregoing figures how evil
lent IL IS that production OF cotton IS
falling behind consumption. AS prices
realized by planters this season have not
been high, to put 1T mildly, the acreage.
instead OF being increased. We think more
likely TO be decreased. Anyhow we gave
reasons in our letter Of yesterday showing
how suicidal IL would be for the South
10 increase It's cotton area next season,
and, inferentially. what an extreme ad-
vance we might have II the South does
not Increase or decrease It's area We
have thought when the cotton world be-
comes aware OF the probable supply at
| the beginning Of another season on Sep
! TENDER LIST next, that "A rise in price from
the present low figures would seem 10 be
most probable, TO say the least The
market to-day was given surprise by
| Liverpool. as general expectation last
| night was that prices there would be
| lower to-day, instead Of which an inn
| provement Of two sixty-fourths points was
| realized with 1900 bales spot sales. The
| bearish features seem 10 have been dis
counted, such as comparatively large re-
| ceipts, though actually small, a reiterd-
| ton Of large crop estimates, bad trade.
| etc The supply at the South is growing
| gradually smaller, and what is left OF II
| Is IN the hands Of people who are able 10
| hold II as rule. Our New Orleans firm
| telegraphs to-day that shorts are getting
| nervous, and We notice similar feeling
| here. lf speculation was a little more
general and active with larger volume
| OF buying orders, material advance m
| cotton would occur but a. Il rule those
| vance, and thus continually help 10 weak
| en- the market. The advance to-day rs
| eight points from Yesterdays. Judging by
| what Liverpool did to-day after tho de-
cline I'm this market Yesterday, il would
seem that they should do better t0-nlor-
| row, because We have given them more
| encouragement to-day. our Atlanta cor
| respondent wires to-day that manufac-
| turcrs there say that ~ per cent. less
| fertilizers have bccn sold I'm that territory
| than last year The author OF a large
! crop estimate cabling Liverpool Tuesday
night last stated that there would be a
large increase In fertilizers this year
| II there Is no more realization of tho lat.
| ter statement than OF the estimates OF
| large crops they will be badly left.