Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1895-01-10
COTTON CROP COMMENT.

Interesting Extracts from Advance
Sheets of Mr.. Shepperson'
| Book for the Seasons
of 1898 -'94.
The annexed interesting ex-
tracts ae from advance sheets
of Mr.. Alfred B. Shepperson' S
cotton book entitled Cotton
Facts and Figures, for the sea-
son of 18931'94. which is now in
press:
The American crop of 1694-'95,
which is being crowded into
sight and upon the markets of
the co-ltry in such an enormous
volume, is undoubtedly a very
large one, and perhaps larger
than any previous crop. The
weather conditions have gener-
ally been faYorable throughout
the season, and especially so dur
ing the time for maturing and
picking the crop. Early circu-
lation of extravagantly large es-
Inmates of the crop followed by
a rapid decline in prices caused
in many planters an anxiety to
market their cotton quickly,
which some Hof my correspond
ents have described as an un-
precedent "craze to SELL" While
the extremely low price of cot
ton has required about double
the usual quantity to pay the
same amount of Indebtedness it
must be remembered that very
smaller advances than customary
were made upo. the crop. The
early marketing of so large a
quantity of cotton is therefore
chiefly due, in my opinion, to the
fact that the farmers, believing
the crop to be very large one
and fearful of lower prices, hav e
rushed their cotton into market,
thus creating the enormous
movement and causing the de-
cline in prices which they sought
to escape.
Opinions differ as largely as
usual as to the size of the crop,
but fewer estimates have been
published than last year.
To December 4th, there had
come into sight, 100000 bales
more than to corresponding date
last year and 238, 900 bales more
than in 1891 when the CONNER
cial crop was 9,O18,OOO bales.
Should the movement hereafter
equal that of 1922, land it is
well to bear in mind that about
10000 bales of old cotton was
marketed with that crop,
whereas there was very little old
cotton with the planters at the
beginning of this season. then
the present crop would be about
81, 500, 900 bales.
It will thus be seen that re-
view of the previous crops does
not afford encouragement for the
expectation of crop of over
9, 10000 bales, if all marketed,
while it might readily turn out to
be 100000 bales less. In this
connection it should be consid-
cred that the crop having been
raised upon very limited ad :
vances, many planters, and es-
pecially these in good circum
stauces are we'll able to hold
back from market larger guam
tity of cotton than usual, if they
were disposed 90 do so. Hav-
ing paid all of their debts and
purchased their most needful
supplies, it is a question
whether the low price may not
cause the holding back from the
present commercial crop of at
least 50O;eOO bales of cotton.
This problem makes all crop es-
Inmates more than ever guesses,
for no man can tell what the
planters will do with this large
surplus. It is a question which,
as [ take it, few of the planters
themselves have yet decided, and
their decision will depend upon
what the prices are later on. If
prices advance materially in the
spring, IL is evident TO me that
a much larger proportion of the
surplus, and perhaps all of it,
will be marketed during the
spring and summer.
It may be noted that the aver
age of the estimates on the crop
Of November Goth by 131 mem
bers Of the New York Cotton
Exchange is 9, 249, 838 bales.
Though the cotton which has
come into sight is ], 200, 900 bales
more than for the correspond
ing time last year, it is to be
noted that the visible supply of
cotton (of all kind is only co.
900 bales greater than year
ago, while the stocks in the mar
kets of this country are only
94, 900 bales in excess of same