New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-08
finanridl.
AMERICAN COTTON.
SUPPLY AND DEMAND.

On 25th ultimo we published these columns the re-
suits Of Investigations to the Worlds requirements
and consumption Of American Cotton and OF the supply
present and prospective Our conclusions after care
investigation Of tine Nev-York Financial Chronicle
together with EllIsons estimate OF European consump-
ton week and own estimate biased upon the
movement Of the CROP OF American consumption was
that II was in excess Of 9750O00 bales. Our I'm
prcssons 10 the consumption in the United States
have been more than verified. as the Chronicle In us
annual report 0 crop movement OF iss4-o5, pub
lished IN instant: shows 10 have been 26oii2i bales
Under the head OF Europe the Chronicle makes most
elaborate statement. They say follows: we now
add usual tables OF consumption and supply Of Cot
These figures the takings OF the mills.
but the actual consumption Of the mills. and arc IN
all expressed In bales Of 400 pounds For Great
Britain 4264o00 bales for the Continent 5os6ooo bales
total for Europe OF 03600o0 These figures prove
quite concluslvely. think. what stated In our
card on 18th ultimo that Esons estimate Of European
consumption Of all kinds reduced to American weights
made 10000 bales OF American consumed weekly In
Europe: therefore. the Of nearly 10000 bales
per annum. which added the consumption In this
country as per Chronicle of to-day. shows the worlds
annual requirements Of American alone are now about
100000 bales Secretary Hester Of the New-Orleans
Cotton Exchange makes the cotton crop OF the twelve
months expiring 3ist ultimo e.oO PSI The Chronicles
figures 9se2 766 2.365555 bales more than the
Of the previous The Worlds visible supply
Of American. however LIST instant WAS. In round
figures only 10000 than last year showing That
worlds spnners had taken OF the previous
ls65O0o bales. The Worlds total visible supply OF
American LIST instant 100000 bales. and what
shall be marketed in the crop year, beginning LIST
instant-say 1850 O00-(an estimate that Will be much
reduced we think after publication OF the Bureau
port 10th Instantly Will prove to he what the Worlds
Splnners will haze rely visible supply Tor
the next twelve months We have then a maximum
prospect ~ 9SJ0000 bales (on the above basis 10 supply
100000 requirements deficit OF $50 900 bales but
II add TO this latter figure spinners stocks in this
country on sst umo. which, according to the Chron-
icie Of 9TH 800 sis bales and further
add the spnners' stocks in Europe on list umo. accord
ing Ellison Of $4,000 bales. reduced probably
LIST nstan, 100000 would give 10000 bales. as the
total invisible supply Of American Cotton allowing all
European invisible stocks be OF that character which
most decidedly they not What then do We ind?
Calculating upon a crop such already mentioned for
the current and taking the figures found In the
Chronicle. OF their Worlds visible and Americas In
visible supply and Elsons European Invisible supply
We have grand total Of 106io00o bales to MI
requirements that only about GO0O0 bales
smaller This would leave a surplus to that
extent by lst OF October. 1896 II will be
though that all Of this conemplates falling back
every bale OF Cotton IN sight otherwise the main part
Of which supply however yet upon the Cotton stalks
in the South in the shape OF bols small percent
age OF which has sufficiently matured to gather lint from
them, and very large percentage OF which may be
caught by frost earlier than the average date. which
might reduce yield $500 900 bales We pre-
senting statistics fully herein set forth in order
that 1t he how dependent the consuming world
is upon Cotton OF American growth and considering how
Important part II plays a gold producer for this
country there questions involved in the size OF this
crop greater than the purely speculative Referring to
card Of LIST instant again call attention another
point Of decided interest the Future Contract markets
In America and Europe-namely. that they require
protection the short interest existing that there
shall be held by them. the aggregate perhaps go
900 bales. removing that amount an available stock
from which draw by the Worlds spinners and which
properly should be deducted far they concerned
Tho tai Of and nyfz
which have already called attention. Still another
matter OF is the estimate OF Secretary Hester Of
the New-Orleans Cotton Exchange. He says American
mills will require Of the crop $4,000 bales
their takngs this past year OF 3Oo 500 bales II
s., shall be able give Europe for the twelve
months 100000 bales only instead Of 67ls113 the past
deficit Of than 700 900 bales Of American
1t should the United States get all their require
mens out Of the growing that Europe must supply
their consumption for the next season Of 100000 or
Of exports from this country OF 100000 bales
plus what they held q visible and invisible supply LIST
instant Whether Cotton entitled higher Of
values after this exposition OF the situation the
thorities have quoted indicate to be- we leave our
readers to In she time. We beg to say in
reference the Cotton market that 1t Is presenting
unusual attractions for investors spectators The
mind mystihed by unlimited quantities. but. the
contrary with crops Of o5oOooo to 100000 bales, as
they have ranged during the last ten and with the
perfect system OF keeping track OF the movement
during the Cotton commercial year. both buyers and SELL
the movement is concerned. Is known practi
caly a bale daily and weekly by the New
Orleans Cotton Ex ,hange and The Financial Chronicle
absolutely bale The judgment Of buyers and sellers
therefore, be exercised conserativey. they
equally well advised receipts exports consumption
domestic and foreign and other data 70 form
intelligent opinion to the probable OF the
market The interest In Cotton. locally and outside has
grown during the past six months large proportions
evidences OF stl further increasing prospect
wide and frequent variations for months ahead
Of The weather conditions In the ten Cotonpro-
ducng this country being watched just
with considerable interest only by but
by the industries all the World, less
dependent upon American Cotton. and what the con-
dtons OF the crop September LIST will be
ported by the Government Tuesday next. They
be the worst at this OF on record
and several points below the conditions August lst
which even then were seriously unfavorable.
ATWOOD VIOLET & CO.,