The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-11-04
THE COTTON CROP
The Great DrOnth Has Cut 1t
Short.
Still the Price Has Not Gone
Up Yet.
HOW 1T IS HANDLED.
a Cotton Bale May Change
Hands Twenty Times.
How Dealing In Futures At
fects the Farmer.
HOW IT IS HANDLED.

:
the great drought cut me estimate to
$500 900 bales and today cotton is sell
ing from 612 cents to cents all over the
south. lit was at first predicted that
cotton would bring 10 cents. The stock
Of cotton on hand last June was very
small. The mills in this country were
reported to be practically OUT of cotton,
while the stocks in Europe were much
smaller then than they were in June OF
the preceding year. Planters built high
hopes that the shippers would do some
lively bidding at the outset, but 1t was
not so. The general belief prevails over
the cotton section that the price viii
go to 10 cents before the season Is over
and several million bales are now being
held for the expected advance
The cotton crop of 1896 was ISL ,346
bales, a. decrease of 2. 743, 500 under that
of 1S94-5. The loss was mainly in Tex
as. The average commercial value of
the crop was S41 a bale against $50 in
1919 and $3.50 in 1884 The total val
ne was S294 O95. 900 against 1921, 03S,OO0 in
1894-5-which shows that the south OBJ
tanned for a crop of little more than
100000 bales in 1856. within S3O00,000
OF what was received for the 1OsOOO,UOU
bale crop of the preceding
There are now 1888, 238 spindles in the
south; an increase over last year OF
51592s This includes 5T4 430 not now
complete. but which VIII be brought in
10 play during the season. There have
been many spindles which were forced
10 stop on account of the business de-
preston. In answer to direct query re
garding Z653.OuO splndies out OF a lotaI
OF 1856. 900 in operation in the south,
that they have not been affected, while
LOOSE 600 say tney nave suIAeieu- Il No
hundred and fOrty-One thousand spin
dies have consumed less amount OF
cotton for various other reasons. Last
year 1000 bales of cotton were inn
ported into the United States.
Cotton was gathered this year TWEEN
" days earlier than ever before. IN
AGAINST Z. $50 lin August. 1885, and agalns
Is SIS in August 1894
Very few people know how cotton Is
bought sold and handled. In the hand
1frz of cotton a bale may change hands
twenty times before it reaches the spin
ner and it Will scarcely pass through
fewer than three or four hands Inc
first man to get hold OF lt as the country
merchant. lin competition with the
country merchant is the cotton buyer,
who is either a broker on his own ac-
count or the agency of a city firm. The
country merchant however. often sells
- mis- country broker or the II o. b.
7..4l-assrt arrive This free on board"
-,-es-,s fba+ cotton viii be delivered
-.io51o-si5s shin at mort without cost to
~ l977z-sr for frefg-ht or handling
-IT5,.a cotton factor is a man in the city
Who sells on commission He may not
s4csrrv-' the cotton planter, but as q
General thing he does advance him
7a1na7r On his CROP In the south cotton
rs +ba great money croD. Al man can al
-,-ev-s Sat money On his growing cotton.
49, ~ tbaea rfaala mentioned NAV
- ~ Len to r,77a a17otber until the
COTTON fna1lv passes into the exporters
57s-Gs v-b0 in f1ru NAV sen to a deal
e..'i tn it 'eS or to speeuIator or
-sr,f.,r,a7. though of course all the cot
frr, intimately hnds it's way to the spin
77ar
THE Gree on board man handles his
cotton IN this way. He receives sam
1aIes which are forwarded from the bro
ger also invoices. giving the marks and
country weights In many Instances
the sales are erected. subject to inspec-
ton by the BUYER 1t frequently hap
pens. however. that sales are made
without SAMPLES. grades and weights
4,zsr.e- r-777'ra NEED bv the seller In case
- t -, -, ~ 80 q, 90 is ERECTED nv
q Spot u aiise-etlo4ls d sais ~ go ~
me samples exposed on factors taDles'
SO that man sees exactly what ne IS
buying. The buyer then sends his
sscIasser'' to the press to extract addi-
tionaI samples from the bales. to see
10y ti-Ss 11i1iS y ~ IL s u 's - -
which the transaction was made Inc
cotton is then reweighed, reinspected
and remarked for foreign shipment.
Two sets of samples are made of each
49, q,.57tg,, f,77,-s- erl7 che o+,er 10 l-e,,t
sAS t'l Sls u D-5 q o-io ~ 49, ~ ~
ps me eApOitsA - ptolTcl liIllstA
against any reclaIflal lQnS when may be
made bv the party to whom he sells
Of the season until ali danger from re-
CANA tlon II passed, ailq they are lhen
500 ~ l2ose ~ NJ Pleh1LS men
VINO fepacA ana sen them lot cOtlon
Whlcn IS snippeQ 70 matters OF 70 nnlli
men for mixing or for making cotton
batting.
Every cotton b74var as q ru1a deals
A., ssf74t-,,.ss r7,l7ssa - -sere,llsl7 30 q
- ~ - - n
dAsss ua4 " ana eoFeAltstse TO All con-
cerned- When a man buys in the cOun-
try 500 or J. 600 bales he can and does in
ss47re himself against loss b1r going
e9v-f1, vs-ifr IN. tne e--oba7,oa e.7S eelIi71e
81, ~ IL, ,,1,,,,l,s-. ~ 5l.5- 80 $50 i
SA-s - lil 81 y 'ssls-9 III t-AS ~
ANetg- us WAe1llL "a lihei curing the
growing season may take advantage oE