The Dawson news. (Dawson, Ga.) 1889-current, 1891-07-22

A TALK WITH A COTTON EXPERT--NDT EINc
TO HOPE FOR,
INTERESTINGLY ABOUT THE CROP
AND THE OUTLOOK.

is ABOUT THE WAY HE PUTS THE TALKS
INTERESTINGLY ABOUT THE CROP
AND THE OUTLOOK.
What about cotton?
1t is decidedly the most interesting
topic in this country at present.
THE News heard a merchant say the
other day, that he wonld pay more for
little knowledge on this one thing than
any he could think of just now.
He is one of the largest mel chants in
the city, and is worried at the state of
affairs, because everything depends ON
cotton.
Hundreds of Others are in the same fix
and the truth is, as is well known, IT'S
lack of confidence that is keeping MONEY
out of circulation. It's here, but wb &
will turn it loose? The cotton market is
too much for them.
THE News has had talk with OF
ton man who takes a rather gloo nv
view of the situation and prices of the
coming fall.
He said the crop accounts continue ex
cellent in the main and although we
may have titful rallies, caused by the
shorts covering either to take prom is, or
nervousness at the low prices, nothing
can prevent the market from going lower
except unfavorable crop news, and that
of a very general and serious character
The present prices of cotton are entire
ly new to the men now in the trade. he
said, none of them having never seen or
believed such figures possible.
"This has been year of reverses, :"
said the cotton man. "Our lowest pri-
fn, fv,f l,,N1 4
ter months, January for instance. are
one-half cent higher than August. An
other new thing with the cotton men of
to-day: with each lower level of prices
the ranks of those operators who are
buying on prices only gain additions, and
if the crop could be marketed by simply
buying futures we could very easily dis
pose not only of the present surplus, but
also of another crop, no matter how
large. Unfortunately this cannot be
| done, and the bales of the present epor-
nous supply and of another crop must
be forced.
1.-The new crop must be sold sooner or
later, and must be sold to the trade at a
price which the latter will pay for it.
"As was said before, this is year of
reverses. Very few contracts for autumn
shipments have so far been entered into
W tn the other side, nor is it likely that
they will be made as long as the premi-
ms exist. With the present outlook for
the new crop and the prospects of trade
there is absolutely no reason for the spin
n T t pay more for the new crop than for
the old.
''As long as the old crop can be bought
for less than the new, the surplus of the
old crop will be taken before there will
be a general demand for the early re-
ceipts. The latter however, must be
sold no matter whether the crop is small
or large, and the only possibility of sell
ing it will be by forcing it on Europe at
the best prices Obtainable.
"The price at which this can be done
will as matter of course, greatly de
pend upon the prospects of large or
small yield next season, but it seems the
ruling premiums never before known in
the history of the cotton trade are dis
counting a very moderate crop, while an
ample supply, say eight millions or more,
to which the last agricultural report
points, will in all probability give us
much lower prices than those ruling to-
day."