Birmingham age-herald., 1894-10-26
TIE FbEECY STAPLE. Interesting Statement Prepared by an Experienced Shipper,
WHO MADE COTTON A STUDY
His Estimate of the Crop s,ss5,oOO Bales-Price Less
 Than Cost of Production.

NEW ORLEANS, Oct. 25.-Relative to the growing cotton crop the local press will publish tomorrow circular of MT. A. J. R. Landauer, one of the largest exporters from the south of American cotton, esti- mating the commercial crop for the current season at 8, ,8s5 ,000 bales.
 Mir. Llndauer estimates for Texas 2, 700,- GOO bales, or an increase of 64l 1000 over last year; for the group of other gulf states, embracing Louisiana, Mississippi, Arkansas and Tennessee, 9, FOG, ,000 bales, an increase of ASA, ,OOC, and for the Atlantic states, embracing North and South Caroli- na, Georgia, Florida and Alabama, 3, 4S5,- GOO, an increase of 2i0, 900.
 Calculated by percentages he makes Texas gain 31 per cent, other gulf states 22 per cent, and the Atlantic states 6h per cent. His views are predicated on personal observations made while travelling through sections of North and South Carolina, Georgia, Alabama, Tennessee, Mississippi, Arkansas and Texas, and In addition to the reports of large number of experienced correspondents throughout the south.
 Referring to reports promulgated rela- tive to this season s growth MT. Landauer says: "From my own personal observa- tion, and from what Iilearn from reports received, feel satisfied that the yield of the present crop is exaggerated.
 He says the fact that 6,6OO,0 bales were marketed from states other than Texas last year, notwithstanding the very poor yield of the Mississippi valley bot toms, indicates that some very fine crops must have been raised in many sections of those states, leading to the inference that while good results may be obtained this season, they must be considered in many cases in comparison with like consideration last season.
 He finds Texas, Louisiana and North Carolina ahead of all other states, while the hill lands of Arkansas promise indif- ferent, and in many cases poorer crops than last year. Georgia and South Caro- lima crops are very much spotted-some good, others not better than last year while the gain in Mississippi is principally in bottom lands, which promise better than for years, though the uplands will give an increase.
 MT. Landauer says the Egyptian and h. dian crops will equal last season's, while the Asiatic crop promises to prove disap- pointing. He claims that the spinning trade in England and Germany is improv- ing. France reports good trade, with pros- poets ofmlls continuing 10 work full time, and that in Russia many of the most prom inent spinnerS and manufacturers have contracted ahead for their entire output for 1895, some having contracts up to March, 1896.
 In America he looks for considerable improvement over last season. He esti- mates the taklngs for the year by foreign and domestic spipners at 8, COG, 900 bales of American cotton, and calculates on this basis that, should the current crop reach g, 300, 900, the visible supply October 1, 1895, will not have increased more than 360 ,000 bales over that of October last.
 He claims that with continued low prices India will not ship anything like the quantity she has shipped the last two years and that with a reduction of the Asiatic crop the demand for cotton from other centers will naturally increase, added to which he points to the probabil- ity of planters holding back great deal of this years product on account of low prices, and that as cotton cannot be raised at present values, unless there is an im- provement, next season must witness con- siderably reduced acreage.
 He claims that the present heavy move- ment to market is not an indication of the crop, as it might even be greater with an S,00O ,000 crop, and expresses the opinion that it is suicidal to sell an article which has gone far below the price of production, concluding as follows:
 American cotton has no competition, and hence America is in far better posi- ton to dictate the price of this article than any other which she exports. As matter of course if planters continue to rush their entire product to market at once; if they are so frightened by current prices as to demoralze others, then. 1t is possib we may witness evsn lower prices yet. On the other hand, if they market gradually and hold portion, their risk is certainly only nominal, if any, and if no great advance be established we might, for a time at least, experience steady markets, followed by a healthy advance.'
 Mr. landauer Is Belgian consul here and manager of the American Trading com pany.