New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-13
PART IL.
PAGES IS TO is.
THE WORLD WANTS COTTON
MANCHESTER BUYING HEAVILY OF THE
GREAT AMERICAN PRODUCT
NAVY BALES SHIPPED ABROAD AS WERE
prf-rrvEp AT THE PoRTs-THE CONTRACT
MARKET HIGHER-A SHORT CROP
DEMAND


MARKET HIGHER-A SHORT CROP
AND BIG DEMAND
rn. inherent strength in cotton again asserted it.
- Yesterday The weakness Of the day before
.,,shed March cotton closed last night at SSs. or
.,nts over the closing of the previous night Bonn
~ was heard from, and its figures were over
,s,rred by bullish news from all sides. The re-
.,kable spot sales at Liverpool continue. Yes
..-ssy Manchester spinners bought in that market
,sno bales OF which 1900 were American Port re-
1,ns Yesterday were 2S.79l against 41ls2 last year.
ard 1000 1898 Exports were 2s7 or about equal
"a the port receipts. Port receipts this week Will
a.. I'm probably 10000 against $4,000 last year.
r,,s is a remarkable falling Off Yet the market
has been oppressed all week by watching COM
rsrstlvely heavy movement at ew-Orleans. ignor-
DC -be fact that II at the expense OF the other
no-,s Interior receipts yesterday were again ex-
.remely light. compared with last year. New-Or-
,..,s expects to-day 1000 to 10000 against 1880
The market nevertheless moved along strong. but
unchanged until the last hour. when Colonel j. c.
Graham. who generally brings In large and wide
awake contingent from Wall Street in his wake.
led a rapid advance that closed the market at the
top.
IAon,l5 Mandelbaum one OF the shrewdest and
r,st successful operators on the New-York Cotton
Exchange said yesterday that It seemed TO be
overlooked that while the present worlds visible
supply is about 10000 bales below the visible supply
Of anv Of the three previous years. the bis cotton
eoinne-s' strike abroad began in November. 1892.
when consumption in England practically ceased
for over six months also that in 1893 the great
panic closed cotton mills throughout this country,
curtailng consumption never before. These facts
VII have an important bearing comparisons
with preceding years in the weekly statistical re-
views OF the cotton movement from now on. And
the crop shorter than in 1892. Judging by the
receipts The difference abroad between Manches-
ter closed in 1892 and that great spinning city al
present is wide apart as the North and South
Poles
The friends OF higher prices for cotton declare
that the settlement OF the great strike and lockout
IN the enormous shipyards In Ireland and Scotland.
al Belfast and on the Clyde, will help TO increase
the demand for cotton goods in Great Britain. The
principal shipbuilding firms of Ireland and Scotland
and England employ scores of thousands of
altogether This enormous army Of workingmen
has been out Of employment for some time ard con-
tracts OF vast value and Importance have been
given 10 German shipbuilders and to various ship
yards on the Continent Of Europe, while the yards
IN Grea- Britain have been silent and deserted
The employers have now consented TO grant an ad-
vance OF wages 10 their men, and the great strike
IS over This, of course, means prosperity instead
Of suffering and restitution among hundreds of
thousands Of people, because these workingmen in
mos. cases. have families dependent upon them
Hence the settlement of the strike is expected 10
bring about increas in the demands for cotton
goods in Great Britain.
The believers in the future OF cotton sav f,r.har
that progress is constantly made in Africa in bring
Ing under civilized influences the tribes in the in
terror. and that millions OF Africans as they draw
nearer 10 civilization, using cotton goods 10
cover their nakedness. The supporters of cotton
say that the African demand for cotton goods is
enormous and is steadily increasing. They de-
clare also that the Southern States in this country
far more prosperous than they year
The report of the Agricultural Department
Washington says that the cotton planters in
the South have been receiving for the cotton which
they have already sold of this crop average price
Of 65 per cent higher than the average price which
they received for the crop Of last year This big
difference, OF course will have great effect upon
Southern industries and upon Southern prosperity
When the planters get Go per cent for their
cotton than they received in 1894 they have
a great deal more money 10 spend in every form Of
outlay. The wholesale drygoods merchants AMI
wholesale merchants in all branches of trade in
NewYork and Chicago, and the other principal cities
OF country. say that Southerners have been pur
chasing far more heavily since cotton crop this
year began be sold than they purchased last
This is true OF every kind Of goods. which South
erners buy. II is conspicuously true of cotton
goods since the South prodigious quantities Of
cotton cloth. The Southern mills. of which
there is a large number. are doing much TO supply
Southern demand for cotton cloths. This increased
demand. due to the enhanced prosperity OF the
South, has been felt during recent months in
every quarter from which Southerners derive their
supplies Of cotton goods.
Another argument advanced by the friends Of high
e. prices of cotton is that the production OF gold has
been enlarged much by the recent discoveries In
Africa and Australia. Colorado, and elsewhere, ana
the supply Of gold is likely TO be multiplied to so
wonderful ar the future by the discoveries
OF new mines and by improved methods OF working
the old mines that the tendency Of all prices VIII
Inevitably be upward and that this upward ten
dency Of prices will tend TO raise the figures for
American cotton.
The New-York World" published yesterday the
following straightforward. positive and emphatic
editorial article. which expresses the view OF al
who advocate higher prices for cotton. This cdi-
,orial is entitled England and the Cotton snort
age" and Is as follows:
on its final returns from the cotton belt the y, De
partment of Agriculture Ina, q, ' me c1pn Of last
year. .o,,o.e ,,ov NOT prove SO large as II
il Is apparent that foreign BUYERS are 1r ne" hidnS
&c, the better of the American market oy ho'u"e
There Is no quarrel with Enslanu r's xuar, nice
ing to say what is or is not proper sApUra e r
at which to begin moving tne Dulh % H nonntrv
crops but neither ENGLAND nor any oi its own
can control the American market against It's wv"
conditions. ..,o.,,,oo,, short All that
cot, ntanS 6rop % take Of it viii be taken
III Short-crop prices
The Bombay weekly cotton report ISSUED ye 81 olo
dav showed: Receipts. 5000 bales against '''V'
last year: tota, since January l. io,VVV' o0o
1s22Oo las, year shipments to Great britain l'cD'
to,ai since January l. $1,000 against 44"O iast year
shipments TO Continent, 1900; total since 'aa a..
/ 5,7 600 against $4,000 last year anoat' lf""'
against 1000 last year. 49,, l.,
The improved condition Of industrial anans II,
India. as stated by Lord George Hamilton ~ .ne
Lancashire cotton spinners on WEDNESDAY anu 'he
prospect OF the removal OF the per cen. uu'S o-
cotton goods entering that country. are peHe'eu "
have had much 10 do with the large purchases W
Manchester Yesterday There is nothing IN the above
-, ...., % nrove that the Indian mills