The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-04

SEA ISLAND COTTON.
The first bale of sea island cotton re-
| ceived the past season was on Aug. 4,
| more than two weeks earlier than the
| average date. Shipments in quantity fol-
! lowed at equally, if not at rather an ear
| lier average. The stock carried over from
the large crop of the season before was
| very much greater than usual The in
! visible supply, or the stocks at the mills,
| was reported to be very heavy. About
| six of the largest northern mills, with as
many more in England, entered into a
! syndicate which composed about one-half
of the total of the commerce of sea island
| cotton in the world.
| When the review of the last year was
| written a severe drought existed over the
entire sea island cotton belt and fears
were expressed that the crop would be so
! injured that the outcome would he less
than for the preceding year, but fav-
| orable weather followed and continued
| through the balance of the season and the
| crop goes on record as the largest that
was ever made.
Contrary to the usual conditions at the
| beginning of every previous season, there
| seemed to be no mill in need of cotton,
| and with an exceptionally early crop COM
| ing into the market for sale, with half the
| consumers of the world in a syndicate,
with a full knowledge of the conditions
prevailing, WIN the prospect Oh a. very
! large crop, and with large unSold stocks
brought over from the year before, pros
poets were very gloomy, and one could
easily see that prices must rule very low
to work off the bulk of the crop. Bust
ness was stagnant for a long time and
stocks accumulated rapidly, so that a large
amount of cotton was always on the mar
ket and buyers enjoyed a picnic. Prices
receded on every large transaction, and If
it had not been that a few of the larger
factors were able to stem the tide and
bolster up the market, values would have
been cast to the winds early in the sea-
SON AS 1t was prices We're let down
by degrees and the panic &reatened was
averted. There was but one time, about
| ten days during the whole season when
| buyers came into the market and were
anxious takers of the staple. The crop
| could not be considered very good in quail
! ity, neither was it a very poor one, While
a fair quantity was of both good and also
! poor quality. The crop was, as whole,
| hardly an average good one.
| Great complaint was made about the
| staple, especially yearly receipts of Geor-
gians and the entire crop of FloridaS-
| This was no doubt partly due to the
drought, but the chief cause was the plant
| ing of poor and old, worn-out seed, the
| low prices prevailing not encouraging
| farmers to entail expense in the renewing
| of their seed.
| The low n2ureS TedCleu from the Hlluule
| to the end of the season enabled factors
to dispose of considerable of their poor cot
| tons to mills that never used sea island
| cotton before. 1t was taken in place of
| Egyptians and long staple uplands, and
was certainly a great relief to the mar
| ket.
Notwithstanding the unsatisfactory
markets and the low average price for
| the season that the crop went off at, the
| season was a fairly good one, so far as
| results were concerned. Planters never
| raised cotton at a lower cost, and the
| quantity about made up for the lower
| values. Collections, on the whole, were
| good, and failures in the interior were
few The only losses sustained were by
those who either could not or would not
meet the market freely and promptly and
| swung on to their stocks. There existed
short periods, though during the season,
when it was impossible to sell
While there are those who are in the
position to know, who think that a tariff
on foreign cotton principally Egyptians)
would not do the sea island cotton inter
ests any good factors here regret that the
bill introduced in the Senate by Senator
| Bacon did not become a law, as that
would have exemplihed the good, or the
reverse to he gained rom such a tariff.
1t seems a shame that every other inter-
est should be protected, and if such a bill
as this would afford the sea island cot
ton interest relief that it should not be
granted.
The imports into this country of this
foreign long staple cotton is yearly in
creasing. To illustrate, the importations
for the fiscal years 1887 and 1896 are APP
pended:
Imports of Cotton
Year. Pounds.
1887 ...................... 1924, 531
1896 ............................5 5 350, $50
The long staple cotton imported in the
year 1896 is equal to 1SS, 376 bales of 400
pounds each of sea island cotton, and is
a larger amount than the crop had ever
attained.
The prospects for the coming season,
although somewhat hampered by the large
stocks brought over from the last crop
| ESTIMATED at 5000 bales), is nevertheless
brighter than for last season. About all
the upland cotton areas planted the two
| last seasons in sea islands have gone back
to the planting of the former again; the
| estimated lessening of acreage on this ac-
| count alone is not less than Is per cent,
| and the falling off in the sea island coun-
| try is fully per cent. more The low prices
| the last two seasons and the difficulty eX-
| perienced i'm selling at any price has about
| put an end to the planting of sea islands
| in Texas. which means further shortage
of fully 1000 bales.
The receipt of the first bale of the new
crop this year was on Aug. is indicating
that the crop is about two weeks later
than for last season. From the late ac-
counts received, cotton was opening free
w. and is about a week ahead of what
was expected. Some complaints are being
received of too much rain, inducing she'd
ding and rust.
with crop of $4,000 bales and the
brought-over stock of 1900 bales more.
with the Improvement now in trade prom
ising to extend and increase as the sea-
son advances. the prospects are certainly
much brighter for the coming than for
the past season, and, although we NAV
not see any boom or very large advance.
should the crop not develop any larger
proportion, it is fair to expect a very
healthy tone, and some appreciation in