503 
FOR THE CONTINENT. 
Total deliveries. 3 = a 2 " S 
=. f S = 2 
pz | ag = Be Ly xe Wrens 
Seasons, 3 3 3) = q aS 
pe. a 3 me 
Pounds. Bales. ga | 84 a 8 go | £2 
~ int ~ ~ — 
= a z 5 & 
Per cent.| Per cent.| Per cent. Per ical 5% cent.|Pounds, 
NS (1 Shy 4 I a ee oa 898, 700, 000 2, 365, 000 47, 28 31.8 8.96 4. 7. 86 380 
Wile cocoate ets woo 693, 350, 000 1, 981, 000 33. 87 36. 65 15, 04 3. 28 11.16 350 
TRI acest tees aioe 802, 638, 000 | 2, 193, 0U0 40. 58 36. 02 10, 53 4. 60 8. 27 366 
LA epi aia = iin 893, 113,000 | 2,369,000 | 43.09 | 36.89 7.89 3. 84 8. 29 377 
Liye Vi ees) Ee es 894, 262,000 | 2,341,000} 41.91 | 40.52 6.78 3. 63 7.16 382 
BPG dis ener - sj 08 1, 026, 374,000 | 2,553,000 | 46.38 | 35.88 4, 27 6. 50 6. 97 402 
The percentages in the previous tables represent not pounds but bales. 
which vary in different supply-countries, and, consequently, the figures 
given are only approximations. For the season 1876-77, now in preere. 
the following estimates of supply are given: United States, 2,950,000 
bales, averaging 440 pounds each; East. Indies, 1,350,000 bales, ‘averag- 
ing 370 pounds; Egypt, 420,000 bales, averaging 600 pounds ; ; Brazil, 
500, 000 bales, averaging 160 pounds; sundry Mediterranean, 90 000 
bales, averaging 350 pounds; West Indies, Peru,&e., 110,000 bales, aver- 
aging 200 pounds; total, 5,420,000 bales, averaging 402.7 pounds, gnd 
amounting to 2,183,000,000 pounds. The probable consumption in Great 
Britain is given at 1,297,000,000 pounds, and on the continent at 
1,009,000,000 pounds, making a total of 2,306,000,000 pounds, which is. 
123,000,000 pounds greater than the supply. Deducting 65,000,000 
pounds, the estimated surplus held by continental spinners, and there 
remains a net deficit of 58,000,000 pounds. This estimate assigns a 
yield of 4,350,000 bales in the United States ; if it should reach 4,500,000 
bales the surplus will only raise the stocks in port to what they were at 
the beginning of the season 1875~’76, without leaving any surplus in the 
hands of spinners. 
The drift of the circular, then, is that the demand would be in excess 
of the supply, provided the present indications of a revival of business 
throughout the civilized world do not prove deceptive. If trade contin- 
ues dull, and if European politics continue to be disturbed by the agita- 
tions of the Eastern question, even a smaller crop than that esti- 
mated above will be sufficient to meet the prospective demand in EKurope. 
COTTON IMPORTS INTO THE BRITISH ISLES.—During the first nine 
months of 1876 the United Kingdom imported 6,551,066 hundred-weight 
of raw cotton from the United States, an increase of 870,095 hundred- 
weight, or 15.3 per cent. over the import of the same periodin 1875. The 
receipts from Brazil were 359,658 hundred-weight, a decline of 35 per cent. ; 
from Egypt, 1,029,142 hundred-weight, a gain of 168,219 hundred-weight, 
or 19.5 per cent.; from British India, 1,988, 331 hundred- weight, a 
decline of 760, 121 hundred-weight, or 272. per "cent; from other : coun- 
tries, 101,970 hundred. weight, a decline of 90,995 hundred- weight, or 
47 per cent. The entire import was 10,038,167 hundred- weight, a decline 
of 7,598 hundred-weight. The total value of the import was £30,653,466, 
a decline of £4,323, 895, or about one-eighth. The import of cotton- man- 
- ufactures amounted to 61,441,519 against £945,385 during the first three 
quarters of 1875, an increase of 52 per cent. 
