The Banner-Democrat., 1897-11-06
COTTON.

1nuer uate Vi OCe. ~ - % SO'Ni
laws old, but still it may be found in
eresting reading to the cotton pro- .
iuaers, which we print for their bene- i
it:
By far the most interesting and i'm
portant problem of our present com-
mercial situation is the sum OF money
which is likely to be realized this year
from the sale of what is usually our
most valuable article of export, cotton.
Alone among the great staples cot
ton has not advanced in price. It's
value, on the contrary. has declined
continuously, the downward movement
having prevailed for a longer time
without re-actiou than ever before,
and the price Of the article now resting
within three-quarters OF cent pound
of the lowest figure recorded. Lower
prices than the present price have been
known but once in the history OF cotton
growing and this dispute the fact that
the outlook for the business OF cotton |
manufacturing in this country is excel |
lent. that the stock of cotton goods on
hand have been greatly reduced and
that what is known rs the statistical
position of cotton is very strong. The
worlds visible supply of cotton, com
piled last week by the Financial
Chronicle, was 763, ,079 bales less than
on hand the same week in October,
1895; 994,64 bales less than on the
corresponding date 1895. and o9I go
haJes less than in 1894. AS the United
States produces nearly all the cotton
| in the world, about six-sevenths OF TINS
deficiency is to be credited to the
American stock.
The decline in the price Of cotton
has been caused primarily by the belief
that the crop which will come into
sight during the cotton year, begun
Sept. 1, will be an enormous one IL
lis kown that the land devoted to cot
ton growing in this country this year is
"a, 600, 900 acres, an increase OF ,oo0,-
600 acres over last year. While the
weather conditions have not been en-
ttireIy favorable during the season.
they have been generally so. Nearly
three -fourths of the crop has been
picked, the operation having been
/ facilitated by the unusual warmth and
dryness of the fall months, and there Il
no doubt whatever that very large
amount of cotton will come upon The
market before the first OF September,
. 1898. The estimate of its quantity
now having the greatest influence up
: on the trade is that of MIR. Henry NELL
9 the head of prominent cotton ex
porting firm in Liverpool, who ha'
been remarkably fortunate in his crol
estimates for the last two or thre'
q years. Mr. Neill's house is an Englisl
i one, having branches in Liverpool ant
!. London, aud his estimates have weigh
with English buyers of cotton. He de
e clares that this years cotton crop VII
Il be at least 10, 800, coo balessand may rui
4 into something like 11,5G0,00O bales
If any such unprecedented figures ar
- to be realized. the present low price
1t cotton is remarkable. Another dc
,e pressing influence equally as great l
hard times that have come upon tn
English spinners, this being due to tn
plague. famine and financial trouble
q in India and other countries wher
q. the product of the English looms
=, sold. AS two-thirds of the America
- cotton is sent to Europe, the coditio
Iy of business there has much more in
portant bearing on the price OF cotto
than does the condition OF bushes
D here.
D. On the other hand. while it is ce
er tain that the crop will be large on
X conservative men in the cotton trad
are skeptical about reaching any sue
20 vast quantity as Mr.. Neill predict
The amount of cotton that can
raised from given quantity OF Ian
n, varies with the character of the sol
Ny In some of the bottom lands OF e,
- ceptional fertility in Louisiana an
IT, Texas bale of cotton to the acre ca
w be grown. This is practically tt
st maximum amount per acre, the min
mum being very remote from this.
is established that the average grow
throughout the whole cotton belt vari
10 between a bale 10 two and four-tent
elk acres and a bale to three acres OF Ian
be the 6rst-naulcd figure being that OF
:, year When the weather conditions we
" uniformly favorable. Assuming tn
IT, the average rate Of production th
Id year will be the highest on record,
crop would be gathered of barely II
OO0, 900 bales. Ellison, Liverpo
satistician, of great prestige, who is
N leading authority on the consumpti'
m of cotton and The worlds cotton stock
-, estimates the American crop this ye
As at 9, ,41O, 900 bales. other estim ates
sm this side of the water being from
,r- 600 coo to 100000 bales. If t
DIR crop meets Mr.. Neill's expectations
will not only be the greatest of cott
OF crops, but will have been produc
ng with far greater average yield to
40. acre than has been shown IN the pa
1t must be said, also. that the amou
tu- of cotton which has come into sig
during the present year thus far dc
not Justify the prophecy of yield
,ut from 100000 to 100000 bal
Of Since the beginning OF the cotton ye
325. 900 fewer bales OF cotton ha
come into sight than last year in
ent same period, when the whole yea
crop reached but S,750,000 bal
700 though it should be added that