The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-02-02
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line 10yNy0 COUJS0sUs ptAS0o sOs SOssS~
Is s,iilsx MISTER Of vital importance TO
this secu6G aof the country, and s!>
though the seasOn Is growing late, u 10
vet an open .luestiOn which way the
market will teud. o! c0urse the crop
Weld will determine the matter, but
this is the very spoiot on which sop'n'
ions are dIEided the widest. Eslima'ts
range a,Isths way from 6,750,O0O bales
200. 600 bales. 1t may be stated Tor
the sake of argument ttat II crop up to
900. 900 bales will insure al advance
ttAlees, aud asything over 1000 900
viii have q weakening Influence.
While the crop itself is stili an un-
known factor, all the other elements 81
the situation are known aud well de-
fined. The consumption in Europe has
been and continues 10 be very large,
and u, state. of unexampled prosperity
ia known TO exist in the spinning trade.
The consumption IN Great Britain last
year was 1892 coo Of an average weight
of 400 porfttds; an increase OF los, 600
bales over 1887. In continental Europe
the increase was 81 900 bales, the ag-
rreaafe consumption reaching %, 1885,
900 bales.
The weekly consumption during the
months Of October, November aud
December of the present crop year has
aggregated $4,000 bales for Great
British and 78, 900 bales for the Con-
ttneut; against $4,000 and 1900 res.
pec,ively in 1887. This Indicates that
prosperity among the spinncrs contin.
ues on the increase.
The assured continuance of this
prosperity in the manufacturing
branch OF the cotton industry necessi-
tates very large American crop TO
meet the demand for raw material.
Without making any allowance for an
incyeaee-s in~sAmerica consumption,
altkOuvh It Is know q that Southern
6tlls ard using much more cotton than
last year, Mr.. Ellison, the we'll known
Liverpool s!atistician, estimates that
an American crop of 100000 bales
will be- needed to meet actual re-
S3&aenis. 50
In The face Or this estimate, and with
surplus mill stocks 10 Europe, 452, 900
bales OF 400 pounds weight less that Q
year. ago, spinners still hold OF aud
await a decline in prices, which clearly
proves belief on their part In crop
of over 1000, 900 bales.
Du the outturn OF the crop conse.
quently depends the immediie future
of prices. In this connection 1t must
be remembered that the amount Of the
crop in sight is still 90, 900 bales behind
last year, and although the shortage is
being steadily reduced by liberal
crop movement, It Is no, probable that
the entire amount will be wiped out so
as to cause the yield to turn over {, OOO,-
600 bales. 81
Adylces from every section Of the
country to prominent merchants here
report shortage compared with last
year, hence 1t is probable that the port
receipts, which are now SO formitab BILE,
will soon slack up greatly.
The slightest indication Of a falling
off in the receipts will bring spinners
into the market for large quantities OF
raw material. rs II must be remem.
bsred that ,English mills have Alto
Hethcr barely more than one week q
supply in reserve.
Even shnuid the Improbable hap.
pen, and ,hs.acrep slightly exceed
1000, 900 bales, it is not likely that
the steadily Increasing activity In the
goods trade will permit any noticesb BILE
decline in prices, particularly as sur
plusrstoeks are so thoroughly exhaust
n