The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1897-10-05
Il. H. AULL, EDITOR.
THE COTTON SITUATION.


''The latest reports indicate continued
injury TO the cotton crop and tho aver
age estimate OF tha crop is consider-
ably lower than it was a few weeks
ago.
Tho government report just issued
predicts that the bulk OF tho crop
will be picked by the middle Of this
month.
"Why, then, does tho price of cotton
continue so low?
''In tho last issue of the Textile
World Mr. Alfred B. Slepperson, the
famous cotton statistician, offers an
explanation which seems reasonable.
"Ho attributes the low price OF cot
ton to the condition OF the cotton goods
market. Last sp. ing there was q glut
OF print goods at Fall River. Business
was dull and on account of the enor-
nous supply OF goods the price of
prints declined until it was below the
figure at which prints could be manu-
factured at a profit.
"Mr. Shepperson thinks that between
tho first OF July and the first Of Sep
tho parity OF yarn and cotton cloth.
"He ia convinced that the situation
is now changed, and that decided rise
IN the price Of cotton may be expected.
He says:
"'Cotton ia not dear at present
prices. 1t has not been so low since
May, 1895, the season OF the great de-
preston In cotton. II may go lower,
aud the prospects for an immediate
improve mont are not encouraging, but
from It's present price It would jump
by leaps and bounds should unusually
early frosts occur. Those who wait
for lower prices in their anxiety to Sc
cure their cotton at the very bottom
may find their plans upset by sudden
and severe frosts and be compelled to
pay we'll for their cotton-nnd expert
ence. The crop Is far from being Sc
cured. Its extent and its quality will
largely depend upon the weather dur
ing the next six or seven weeks.
Frosts will reduce the yield and frosts
and rain will injurc the quality. The
present receipts are excellent, both rs
not be afraid to buy it and put it away,
actual cotton Of good grade and staple
at present prices. Those who enter
tain the idea that cotton will fa'l to
the low prices OF the season of 1894 50
arc hugging vain dclusion. The con-
ditions arc essentially different, and |
never expect again to sec middlng cot
ton sell in New York for 9-l6c, which
WAS tho price in November, 1894, and
In March, 1898. 1t is we'll to rcmem-
Der that in April, 1895, it had advanced
nearly | IL cents, and in May ad-
rhnced 3-8c more, making an advance
OF nearly two cents in two months.
Exactly this state OF things may occur
again II prices are forced too low dur
ing tho present dcpression.'
"There are evidently good reasons
for Mr. Shepperson' hopeful viows
Tho general revival Of business will
cause q greater demand vt homo for
cotton goods and there IL an increased
demand from Japan and China."C-0
1.-The condition OF tho worlds stocks
also helps to make good the prospect OF
better prices for this years crop.
There were last Friday GA ,007 bales
less In stock than there were q year
ago, and 1,M7 ,443 less than at the same
date in 1895.
ut Ia not probable that there will be
10000, 600 balo crop and Il riso In tho
price OF cotton at any time would not
be surprising"
The above is from the Atlanta Jour
nal. Tho trouble is that those who
should receive the benefit from an I'D
vance will not do 1t unless the advance
comes pretty soon. Unfortunately, too
many OF our farmers spend the crop be-
fore 1t 10 made and arc forced to sell it
as fast as they can gather it, regardless
OF what the market may be. The price
is too low and we do not believe tho
law OF supply and demand has any
thing to do with It, but In the present
condition OF majority of our farmers
they cannot help themselves. II 1t
were possible to unite the farmers as
the corporations and mills unite they
could get cents for their cotton. II
all the cotton growers Of the South
would just hold their cotton from mar
kot for month, the price would he
obliged to go up, but for Il few of them
to doit will not benefit anybody or help
the price.
Still we believe the price Is low and
cotton Is cheapat present prices and is
obliged to 60 higher in the near fu-
ture.