The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-01-09

consumption of the North IN and South
ern mills, Canada and Mexico, last year
was 100000 bales, or $4,000 bales per
week. They began the year with stock
of 100000 bales. They took during the
year 3, 100000 and they consumed 2,900,-
600, so they began this year with stock
of 100000 bales. Their trade is better
and consumption larger than last year by
at least 1000 per week, so that we may
safely estimate their consumption at 61,-
900 bales per week, or say 3,150,000 bales
for the year, if no collapse takes place.
But II they are willing to go into next
year quite bare of stock they can not con-
sumo 3,150,0O0 bales and yet take out of
this crop only 2,750,000 bales and this
II trade in America continues fairly good
and mills continue running, is the very
least quantity they can take. The stock
left over from last crop at United States
ports and interior country towns was
100000 and if the crop is 6,500,000
there are 6,S00,00O bales to dispose Of
II American spinners take 2,750000 and
towns carry over only 100000 bales
against 100000 last year, there would
remain for Europe out OF this crop $780,
QUO bales against actual last year 6,663,-
GOO bales. AS regards European CON
sumption of American, which last year
reached l1l,1OO bales per week or $780,
600 for the year and rs increasing supplies
from other countries may be expected
from better crops, and better prices, it
Will be reasonable to estimate this years
European consumption of American Mt
$4,000 bales per week or 100000 for
the year, or 3,S22,000 for the 80 weeks
from the 18th Of January to the LIST of De-
tober. This is very much below Mr.. Eli
sons current estimate, but am anxious
to adopt the most conservative estimates
which current facts will justify; nor do
| give this estimate as being mt all posi-
Bile to be reached, because the cotton to
supply it will not be available, as is appa-
rent from the following statement Thou
sands omitted: Total supply for Europe
out of this crop, 5000; actual last year,
6663; actual exports to Europe to third
of January, 2264 actual last year, 1902.
Probable exports hereafter, 1876; actu-
al last year, 3061; European port stock
and ,at1oat, 4th January, 203S; actual last
year, 1868; total European supply of
American for 80 weeks, 3714 against
573O last year. Estimating consumption
80 weeks at 90 per week, 1922; actual last
year, 434S. Thus assuming American
consumption to be only 100000 bales over
last year and American mills to go into
next year quite bare of stocks assuming
American ports and interior at first of
September to hold OILY 100000 bales
against 100000 last year, and assuming
European consumption of American cot
ton to be less than last year by 1880
bales per week, will still reach a condi-
ton of absolute exhaustion of European
stock of American cotton at first of DC.
tober, 1896.
Now, of course, this is an impossible
situation. Something must be done tC
check consumption, as on the side of sup
ply we have allowed for great in.
crease other than American; this increas.
ed supply from other countries permitting
reduced consumption of American by
1850 bales per week The situation is
indeed alarming, and it is apparent that
any trifling excess over a 100000 CROP
would be very little palliation of this
alarming outlook.