The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1897-09-14


February 8B3 873 1872 600
March " .....u81 8.77 8..7 600
April 89J $50 8.s2 7I2
The price Of cotton is now 1888
cents cheaper than last year, 1877
cents cheaper than in 1895, and OF
cents cheaper than in 1894, for Janu-
ary contracts.
The cotton year began on Septem-
ber 1st in the midst of tho most ex-
citing Presidential campaign and
universal trade depl ossion ever known
throughout tho United States; but,
on account of reported serious dam
ago to the crop and depleted stocks,
the price of cotton was highly salts
factory to the planter, middling up
lands selling at 8bc. in New York
and 4 23.32d. in Liverpool these
were about the highest prices of tho
year.
During September and October
the price declined to 7 15.1Gc., but
the market reacted to 8sc. about the
time OF the OBSERVATION-DISCLOSURES I'd
under the belief in tho South that
better prices might rulo should froo
silver ideas prevail.
After the election tho course Of
the market was downward, influenced
by large receipts, increased crop es-
Inmates, stringent money and less
favorable advices from Europe.
In December and January, al
though speculation at times was &C.
tive. the tendency Of the price was
almost continuously downward.
On February 9Th, middling up
lands in New York touched Tho,
and this was the lowest price Of the
year. From this time until the close
Of the season, with the exception Of
a short period, when a marked ad-
vance occurred IN August contracts,
slight fluctuations occurred and the
cotton year closed with middling up
lands in New York at 84c.
Such long period of inactivity
and absence of outside interest and
speculation IN cotton have hardly
ever been experienced as that pre-
vailing from January to July this
year, in face Of depleted stocks and
scarcity of cotton.
While the consumption Of cotton
has been large throughout the world,
trade has not been altogether profit
ablo.
The plague and famine in India
rendered uncertain the operations Of
English mills, and the long delay in
passing the now Tariff Bill, coupled
with the general depression in trade,
caused the business Of American spin
ners to be unsatisfactory.
The future prospects of the cotton
trade now aeem to us most promis-
ing. The visible supply of cotton
throughout tho world is 384,024
bales smaller than last year, when
the supply was exceptionally short
1t is 1,300,N'8 bales smaller than
in 1906, and the stock Of cotton in
the hands Of American spinners and
the quantity Of old cotton on planta-
tions Is less than for many years.
The price Of contracts for future do
livery, except the near months, is &c.
a pound lower than at this timo last
year.
The phenomenally rapid restora
tion Of confidence, revival of business
and great enhancement in values of
all kinds, especially wheat and other
farm products, putting in the hands
of the people large sums Of money
to spend, will doubtless cause dur
ing the year largo demand for
cotton goods, and greatly benefit the
cotton spinning industry. Then,
too, it is not unreasonable to believe
that speculative demand will spring
up in an article 80 current end uni.
versally in request as cotton. With
wheat at nearly q dollar a bushol
and other commodities higher, it is
not probable thnt cotton in moder
ate supply will continue to sell as
low as 7c. for middlings in New
York.