The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1877-07-27
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fcoTToH CoNsuMe1TIoE. IN THE UNITED

STATEb.
WHAT THE NORTHERN MILLS HAVE DONE
AND WHAT THE SOUTHERN MILLS CAN DO
81 The New York Financial and CONNER.
cial Chronicle, of the 7th instant, contains
an article on the above subject, bricf syu-
opsis of the main points of which will be of
interest:
In July, 1874, the cotton mills and their
agents found that they had largo surplus
of stock on hand, and it was at once claimed
That there was an immense over production
hof manufactured goods. In July, 1875,
@however, it was ascertaincd that though the
mills had used up as much cotton as ever,
still they held, at that date, decreased stock
of goods, thus disproving, to great extent,
thia epnclpsion Of the previous year regard
I ing alleged over production: Agafu In July,
1876, the stock of goods held by manufac-
turers was still further reduced, although
more raw cotton was consumed than in years
past, and hence it was shown that tho coun-
try was really steadily absorbing moro than
the current production, Notwithstanding the
universal business depression which prevail
An investigation into tho actual number
Of pounds OF cotton worked up during the
past six months by Gfty-eight Of the larger
cotton manufacturing establishments of New
England, shows still an Increase over pre-
vious years in the consumption of raw ma
terial.
Comparing the consumption of these mills
for the first six months Of 1877 with the
f.Sme period of 1876, it is shown as follows
Pounds.
In the first six months of 1877 the SO
mills mad QA GS0 2SA
In the first six months Of 1875 the SO
mills consumed. d...-"..............91,4 AGO ,447
Increase in the last six months. S,181 ,427
or G:48 per cent.
Commenting on this the article referred
to says:
"These ffty-eight mills use about four
hundred aud nine thousand bales of cotton
each year, which would be about thirty-threc
and onc-oighth per cent. of the entire North
crn consumption and, as they represent
fair average of all the Northern cotton mills
in styles of production and in other partic-
ulars, wo may safely take the increase OBJ
tanned above as representing the actual in
crease this year in the consumption of cotton
by our Northern mills as compared with last
year Ono further fact of Importance is
also brought out by this inquiry, and that
is that the goods manufactured from this
cotton have all disappea-d-huving gone in
to actual home consumption or been cxpor-
ted-in the face Of the very dull trade DUR
ing all the carly months cf the year. Could
we have more positive proof that at low
prices consumption has outrun production,
and is constantly increasing? The popula-
tion has increased since the 1873 panic;
the buying capacity of our people, under
the recuperating influences of good crops
and past economies, is rapidly on the in
crease !; the export demand is also decidedly
larger and at paying prices altogether Civ
ing to the manufacturing outlook an cx-
tremely favorable aspect-nover more prom
ising, unless prices be run up to a point
which shall check consumption
Comparing these facts with last years
transactions will give an insight into tho fu-
turc. Various causes led to decline in
prices generally last season. During that
dull time, spinners almost universally adop-
ted the policy of working up their cotton
and pushing the sale of their productions.
In Europe stocks are now about exhausted,
and what is hereafter consumed must be
taken from the market out Of the visible
supply. 1t will therefore be interesting to
see what OF last years crop Of 100000
bales will be kept for export after deducting
what is needed for home wants.
From the figures given above it is estma-
ted that our Northern mills will yet require
this year 139, 900 bales additional to what
ySey have already consumed and have on
hand. Bearing this fact in mind, then, the
following is shown
Stock in ports June 20, as above."......257, 900
Receipts at ports and corrections after
June 70, estimated. d........................5OO 900
Overland after June 20, estimated. .......SO, 900
Total supply after June 29.............. 337 600
The stock in ports 1st Septem-
ber is o varying quantity,
larger or smaller as demand
and prices may control it.
Last year 120, ,O00-suppose
1T this ear-."....-.........100,0 600
Nhe freight engagements at all
the ports for export June 90,
were about........ 80, ,000-135, 600
WnlCn leaVeS OUO
To supply the home want for spinning. .139, 900
Leaving for export. G1 900
And, as the article referred to says in
conclusion: "Last September our spinners
we're bare of stocks, having allowed them to