The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1882-07-08
CHANCES FOR HIGH PRICES IN
COTTON.
From New York Sun. 26th ult.

, lalng trims, whose aim is to keer
prices down, and, if possible, to create
q short interest before they have accu.
} mulated all the cash cotton they want
The movement was, however, suffi.
GENTLY pronounced to interest outsid.
ers, and to dispose them to take a flyer
on the bull side. Speculation in cotton
has, in the eyes OF scrupulous men, the
advantage over speculation in grain
and provisions, that it does not en-
hance tue price OF the poor mans food
at home, but merely tends to result in
higher prices for the produce Of Amer.
ican soil abroad. That under the pres.
ent circumstances cotton has a fair
chance for considerable advance
seems to be evident from the following
facts and figures:
The average Egyptian crop is 425, ,000
bales Of G2O pounds per bale, which is
equal to 1000 American bales of 45O
pounds. This cotton rules in the T.u-
ropean markets about cent per pound
higher than the American cotton. How
much of the Egyptian crop will be
saved from destruction this year is diff
ticult to tell, but cable dispatch from
Alexandria announced on Wednesday
last that ''the cotton crops of Egypt
are ruined, and that it is difficult to see
what can prevent f;,mine.'' Leaving
the Sea Island crop, at all times but a
very small one, out Of consideration,
our Gulf long staple is the best substi-
tute for Egyptian cotton. Some of the
Lancashire factories work only the long
staple cotton, and will have to shut up
in case the Egyptian crop proves a to-
tai loss, or our supply is not large or
fine enough. The supply from the East
Indies shows an increase of $40, 900
bales over last year, but Fast Indian
cotton can not be worked at all by the
European machinery without an adj
mixture of at least 60 per cent. Of Amer
lean cotton. Yarn made from the short
staple India cotton is unsuitable. The
worlds consumption OF cotton is stead
lily increasing. The Europcan con-
sumption alone was $4,000 bales, of
different kinds of cotton, per week in
1904 'iAA'A 'o',''p lSt " SS'N III ioCv.
These facts indicate that the demand
for American cotton this year is likely
to be greatly increased, While the esti-
mates show that the supply is likely
to decrease.
The visible supply tho
l1th inst. amounted tO.......l PSI 800 bales |
Estimated receipts up to Sep
tetnter H.. ................ 100000 bales
Probable receipts in Septem-
Der. from new crop or tho
weather is normal ..........,... 200, 600 bales
Total.,..... ..,................l,,s ,,s7, 900 bales
The estimated consumption
Of American cotton in Eu-
rope during Is weeks at TO-
coo bales per week makes. ,HIA,Mm bales
The consun pt ion in the Uni
ted States and Canada iSf0,-
600 bales per week, which,
reauceuby tho pIescnt hold
ingS of the SpinilcrS, is
tinat ed to require at least
10000 bales per week, or i'll
- weeks :.AO,OOO bales
Total probable icnand Il 100000 bales
This would leave the United States
on the Ist Of October next with 4 stock
on hand OF 237, 800 bales, against a
stocl; on hand on the same date last
year of 1,2ST,i7l bales. Our supply
must accordingly show this year a !
shortage OF over ,O00,00O bales, even
if no nnlavorable influences affect the
cultivation between now and the close
Of the season.
As far rs the prospects Of The crops
go. it must be borne in mind that the
spring Hoods in the most productive
sections Of the Gnlf States reduced the
acreage and delayed the planting for
three weeks. The cold weather follow
ing upon the floods retarded the growth
OF the plant throughout the whole cot
ton belt, rendering rcplanting in many
sections an absolute necessity. Good
crops require the plaut to start with q
good stand early in May. The tardi-
ness Of the present season EXPOSES the
plant to further dangers Of drouth and
carly trost5.
Although cotton has occasionally sold
@; late rs low rs ten cents q pound, it
is never considered dear nowadays be-
tween II and - cents, according to
the length of the Optf0nS. In 1870,