New-York tribune., 1895-02-13
SIZE OF THE COTTON CROP.
THE GOVERNMENT PLACES IT AT 5000
BALES.

TON EXCHANGE-ESTlMATE or ihb NEW
ORLEANS BEAR H. II. NELL DIsCREDITED
NEUTRALITY-SUSPICIOUS. OF PROBES
sIoNAL BEAR OPERATIONS - DE-
TAILS OF. THE REPORT.
The long-expected and oft-deferred Government
crop report on cotton out yesterday. 1t esti-
mated the crop at OSsOOO bales The report stated
that up to January the total movement of the
crop by rail was 6,54572S bales; the estimated guam
tity remaining the plantations and at interior
towns was 2,OSofS9 bales; the estimated quantity
purchased by mills 455S3 bales. THESE hgures
added together give the estimate of 9.OSsoo baies.
This estimate was about what expected. and,
as seen by reference TO the remarks of Atwood
Violet given below, the Governments estimate as
tincty dscredits the estimate OF 1O5OVp paies put
out by II. NJ Neill OF New-Orleans some time ago
Mr.. Nen Is In the cotton trade what ADDISON
Cammack is In the stock market professionals
bear of the most pronounced type. His estimate
is usually the club used by the Manchester spin
ners to kLock down prices. so that these british
spinners can lay in immense supplies OF Ahei,can @
cotton at prices below the cost of production The
enormous effect Of such figures as Neiiis on 'he
Southern planters can readily be seen. when one
considers that these figures put out while the
cotton is In that invisible position ca'ied the
planters hands" If Mr.. Neilis estimates are
wrong as they frequently have been, the cotton
grower does not get the benefit of the discount OF
Noi,rs errors for when the crop has been about
marketed and the actual size OF it's known posi-
lively so that prices rise the cotton mas passeu
from the hands of the planters TO those OF MT
NeiIl and his friends. More than once tremendous
material injury has undoubtedly been done 10 a
vast section OF this country by the professional
bear estimates put early on the crop or cot
ton. while the British spinners have reaped the
benefit later on This sort Of playing with ioaded
dice is largely responsible for the deep and bitter
feeling manifested throughout the South toward
Mr.. Nell and his coterie of followers OH 'he GA
changes of the world.
What the bondholders and stockholders' 'he
wheat growers and cotton-raisers of America nave
had to pay for the prodgious operations eairet o m
in depressing actual values by sucn men ds -re'i
In Newt Orleans, Cammack in New-Nork ana ra'-
bridge in Chicago 1t Is almost impossible TO ex-
agcerate In figures Such bear tactics help 10 SUM
uate the growth of Populism in American MANS
OF legislation.
Therefore. when the Government brings out cot
ton estimate the hope of all honest uaoers Is '"a'
it Is a correct one. and the belief OF every one l.
that at least IT is honest. The estimate made yes
terday Is not generally believed to be eh'ile! 3oi
rect but IL can still contain some errors anu !e' "
on the side of right The crop is Deiie'eu os '"s
cotton trade TO be undere stmated in the report ana
consequently the report had no great eHect mere ia
advancing prices. Liverpool credited Inc report
however TO some extent, and strong all day.
Our market would have followed Liverpool pu' lot
unexpected receipts of 1900 bales OF cotton oeasu
In transit by the storm This NUMBER Oh paie'
swelled the total and similar condition which IL
expected at New-Orleans to-morro" '"" Wv
market to recede. -
The New-York market opened at 10 3 points su
vance on the strong feeling abroad but ciosed' io
the reasons given above. at TO points net loss
The total sales were s2So0 bales
A trader who had been operating on the buil sue
said: The hope for better prices is not in Govern
ment reports but in the promised reduction OF acre
age and In weather conditions
Two conservative reviews of the cotton situation
are printed below Hubbard Price G. Co say
The feature of the market to-day S has sshnss Sssh the
frthk'n Sf ths market on account pubca cn of the
Government Bureau report 1T Is frp0'eAu rp% america
caused the advance in the foreign markets while
here the attempt Of the the 10 s OF february
has not been received with eredence Dy @ Inc ~ te
AS tney ,hifs Ink number Of Bales remaining on the
plantations the lst OF February ana me i nsule
sserefore cn the report pTOyss
prices sS g S 5sSs Ssss the the H
caon IL sG Ss Of an estimate Of $1,000 falls a,
At the time that the bureau report was being % Iead,
3ss week weSd
the result was as Denea Sesk prices ns There @
little no disposition to aniclpae, iap,neI n SO
cline the Of @e To await develop
ments as TO the reduction in the acreage
Atwood Violet Co. say:
Liverpool did better today.1s pointsrbut with With
ont in the Srre e Of points but
they lost and declined 6e9W e yery s and
he c % as the
mated sOssoO baes caused decline IN nsfeaa nraa Ui
and yet ug to 5aRupTy Hc.sr s o Se New
orleans Exchange there had come into sgnt OF tne
Texas crop 10 that date 2,73S.OOo. or within 44oco
bales of the above mentioned estimate oro, u,r no
Sof1
not ss @ Ga Tscn or at the @ time they
should not decline, because while sucn an estimiats
sHse nas no anS aS be afs out Of
way The report throws discredit on estimates OF
For Ourselves, we feel more disposed TO take the
long side OF cotton with the movement when s
continues on large Ccale, and II rather seems 70 US
that when the loss in receipts does begin it VIII be
sSmns no srGnS ss ds and q weekly
There in our opinion to to-" srb sy sH ssi ep
smse9 pf On the contrary 90 we are 70
think that estimates of 10000 to Ioo"" MI soon SOON
o-dsy to take more moderate views OF the size Of
the crop and If this feeling should become current
The sse port movement today was sweed at Bat
more by l5ooo bales, doubtless due to accumuatdons do
s45Oc against 1870 last year. and 1890 this date In
1892.
The Bureau report in full is follows:
Washington, Feb. 12.-The statements furnished
the department by the various railway and water r
TRANSPORTATION
ports ard Northern and Eastern points. from ne
ginning OF season 10 January l. 1879 together WIN
returns made by the departments country agents
OF the amount Of cotton remaining on pantauons p,,n,
reported by mills bought from September
to January /, show as follows; - ..- go
Raiwav movement from North Carolina, 22I.l!2
remaining on plantations and interior towns, loo-
2s2; bought by mills. l0s sa3: total crop az
Hallway movement from South Carolina, issosl
remaining plantation, etc. jlbSH; pought py
mills, 1898; total CROP 7S.SOs. o.. ,
Hallway movement from Georgia. '5,,02O remain
ing on plantations etc. 2S 4ss; bought by mills
ITO 9i2: total CROP l.l5l 460.
Railway movement from Florida. 3s0l; remaining
on plantations etc. $3.50: total crop 1851
Railway movement from Alabama. o3ooni on
plantations etc, 2ss.ls; bought by mills $780,
total crop, S257i6. .
plantations. ETC.. 27os76; bought by mills. 1885,
total crop. 1.127.e6o.
Railway movement from Louisiana 5ss 4c5; on