The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1877-07-27
doTT0S donsUHIgqEll99EE, HIqll99EE }, - THf UNITED

~ ySrst STATEb.
WHAT THE NORTHERN MILLS HAVE DONE,
AND WHAT THE SOUTHERN MILLS CAN DO.
Sc The New York Financial aud CONNER.
cial Chronicle, of the 7th instant, contains
an article on the above subject, brief syn-
opsis of tho 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 wasan immense over production
4sof 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
:nf goods, thne disproving, to great extent,
Sng 6iegSd osSf pf6duCncfiooini: oii safd Is }uiy,
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 ffty-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 tho consumption of these mills
Tor the hrst six months Of 1877 with the
'assnae period Of 1876, it is shown as follows
,t Pounds.
In the frst six months Of 1877 the SO
mills consumed. CSC, ,8T4
In the FIRST six months Of 1875 the So
mills consumed ed.......................91,4 400 447
Inorsase in the last six MONTHS. S,1s1, ,427
or S:48 per cent.
Commenting on this, the article referred
These 6fty-eight mills use about four
hundred aud nine thousand bales of cotton
each year, which would be about thirty.three
and onc-oighth per cent. of the entire North
ern consumption and, as they represent
fair average of all tho 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 tho consumption of cotton
by our Northern mills as compared with last
year, Ono further fact of Importance is
also brought ont by this inquiry, and that
is that the goods manufactured from this
cotton have all disappeard-having gone in
to actual homo consumption or been cxpor-
ted-in the face of tho very dull trade dur
ing all the early months CT 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 OK
tremely favorable aspect-never 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 the fu.
ture. Various causes led to decline in
prices generally last season. Dufiue 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. Il will therefore be interesting to
bales will be kept for export after deducting
what is needed for home wants.
From the figures given above it is estin,a-
ted that our Northern mills will yet require
this year 10000 bales additional to what
y0ey have already consumed and have on
hand. Bearing this fact in mind, then, the
following is shown:
Stock in ports June 20, a. above. .257, 900
Receipts ct ports and corrections afler
juno 70, estimated ed.......,....,..,..5O 80. 600
Overland after June 20, estimated. ...... 80, 900
Total supply after June 29............. ,387, 900
The stock in ports LIST Septem-
Der IL Q varying quantity,
larger or smaller Is demand
and prices may control it,
Last year 100, ,0O0-suppose
1t this year..................10O 900
We freight engagements at all
the ports for export June 90,
were sbout..."..."......". S6,00O-135. 600
To supply the home want for spinning. 1S9, 900
Leaving for export. ort....................- 81, 600