The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1893-04-07
CLAPP AND CoMPANY's WORLDS
CROP LETTER.
NEw YORK, March81st, 1s9S
FINANCIAL OUTLOOK.

The womb of the earth is the granary
of the race. The biology of the food
plant as much a mystery as the origin of
human life. Two thirds of the worlds
available product is the annually renewed
gift of God The country Boosting land
that is arabic, climate that is temperate,
and men of faith and hopeful energy is
thrice blessed.
The United States of America pro-
duces annually in earth's products of
wheat, rye, corn, oats, barley and cotton
an aggregate which nets the farmers and
planters a sum exceeding 1,500 million
dollars per annum, and amounts to about
SO per cent of the worlds cereal grain
crop and 10 per cent of the worlds cot
ton crop. This does not include seven
billion of manufactured product and the
mining products and farm values of live
stock and other farm and labor products
not traded in on the exchanges, but
which would increase the annual value
of the products of nature and labor in
the United States available in home and
international exchanges, but which
would increase the annual value billion
dollars per annum. The banks cleacings
of the United States last year were over
81 billion dollars, against over 60 billions
in 1881. The deposits of New york
banks reached S543, 1858, 100 June 18th,
1892, which was maximum for twelve
years, against minimum of 1911 SOS, 800
March 18th, 1881. The United States
employs more capital and labor in trans
portation of persons and products than
all the other countries of the globe.
The transactions in railway and miscel-
laneous bonds at the New York Stock
Exchange in 1S9! were $4S5, S57. 400,
against 1886, S99, 800 in 1881, and more
than for any previous year since 1886.
The transactions in railway and miscel
laheeus stock in 1892 were $50, S75, 092
shares, against la, oil, 2S4 shares in 1881.
The volume of actual stock and bond
issues has doubled during the period
from 1878 to 1893. The money paid to
railways for all freights approaches close
to 1000 million dollars annually. There
appears to be absolutely nothing to pre-
vent continuation of this prosperity
except withdrawal of the benefcence
of nature or reversal of the well estab-
lished policies which protect and pro-
mote the energies of our people. A con-
tinuation of present conditions will like
ly be reflected in the increased market
values of railway and industrial stocks
and bonds, which are shown by above
statistics to be more and more sought
for an investment by the masses of the
people through the medium of the Stock
Exchanges.
COTTON.
The United States grows more than
double the amount of cotton grown in
the West Indies, Egypt, Brazil, Persia.
and Turkey. In 1912 we grew our
largest crop. We then imp rted about
five times as much as the previous seven
years. Then Egyptian cotton importa-
tions direct from Alexandria amounted
to over 5000 bales of $50 pounds aside
from $4,000 that came ria Liverpool.
Peruvian cotton is very desirable for
mixing with woollen goods, India cotton
is much used in mixing with silk goods,
1t is not as fine as South Carolina Sea
Island cotton. The number of spindles
in the United States ard Europe are re-
ported to be 81, $40, 900 with yearly con-
sumption of about II, 600,0o bales of
400 pounds each. India is reported to
have 1852, 900 spindles that consume l.
10000 bales of 1902 pounds each. We
manufacture about 40 per cent of our
crop. India will likely have an average
crop. United States exports and amount
brought into sight since August 3lst,
have each decreased about 2, $50, 900 bales
compared with the previous year. The
worlds visible supply is 495, 900 bales less
than a year ago and the largest of any
previous to 1892. British spinners have
bought about 100000 bales less than
same time in 1912, their stocks are
about the same. Our spinners have
taken full average supplies There are
eleven cotton States. Texas will likely
grow more than one-third the coming
crop or about $500, 900 bales. The 1892
8 crop is good quality near the coast,
and medium at interior points. Cotton
appears likely to advance in value.
WHEAT.
The worlds crop of 1892 was one of
the largest ever grown. Europe grew
about 100, 900 bushels. America about
ten per cent more than an average. Ex-
porting countries had larger crops and
now have liberal reserves. Importing
countries have surprised the trade in not
showing a more rapid decrease in stocks,
or anxiety to stock up at the lowest
prices recorded in history. India con-
sumes about two-thirds as much as
America. Their crop and Russia's was
about equal in 1892 to that of the United
States. Russia grows about two-thirds
spring wheat. We grow two-thirds
winter wheat The worlds visible is
about 225, 600, 900 bushels against about
186,000,000 bushels year ago. Our
supply is the largest at any Easter.
Farmers holdings March 1st. were three
million bushels above an average. We
believe they will deliver less to primary
points the coming 80 days, or the last
quarter of the crop year, than usual.
We look for visible supply July 1st to
equal about 65 million bushels. This
seems to be partially the result of under
estimates for the past few years crops,
equal perhaps to from 80 to go million
bushels. Importing countries seem to
require about 1851, 100000 bushels and ex-
porting countries report a supply of
$50, 1000, 900 bushels The United States
furnished 1913 per cent; Russia 1915 per
cent; India 1871; other smaller countries
the balance of Great Britain's require
ments in 1892, or 1874, 1852, 1856 bushels.
About 5000 American millers are esti-
mated to be grinding more -four than
ever, over stocking Western Europe, and
depressing their flour market as never
before. The condition of the growing
crop seems to be reported from Europe
as better than usual. The three coun-
tries about finishing harvesting, report
good yields and quality. Our growing
crop appears equal to an average. The
worlds average crop for ten years past
equals about 2,200, 900 bushels. New
Orleans seems since Feb. 1st to be ex-
porting more grain than any other