Trade and Commerce Report on European Cotton Crisis
The article notes severe U S advices reaching April 29 and widespread business distress. New Orleans firms suspend payments while only five stay afloat. New York reports deteriorating conditions with no sales and little demand. Cotton prices fall sharply at Liverpool, around 52d per ton, with potential continued declines. Iron prices drop on coast, tallow and flax markets weaken. coffee stocks across Europe are listed with varying figures for May 1 1856 and 1897.
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