The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1898-03-30
ANOTHER BIG COTTON CROP
Means Great LOSS to the Southern Farmer
and Merchant.

Aessrs. Latham, Alexander & Co.,
have issued 8 circular letter that shows
the cotton situation on March 18th in
| q manner that should warn the cotton
farmers against planting smother elev.
en- million bale crop. If the crop Of
1898 shall be SIS great as the crop OF
1897, the farmers of the South will be
bankrupt and the business interests OF
this section will be in worse condl-
Htion than in 1S93-94. The following
extracts are made from the circular
letter referred to above:
The total visible supply Of cotton
in the world is 613 ,S29 bales more
than last year, 660,092 bales more
than in 1895, and AT, ,56S bales less
than in 1895.
The amount OF cotton that has been
marketed to date is 2,105,027 more
than last year, 3,694,7S1 bales more
than in 1896, and 1,045, $50 more than
in 1895.
The exports this year are 977, 1896
bales more than last year, 1855, 40
bales more than IN 1896. and 514, 674
bales more than 10 1895.
The stock in United States ports is
2SS, 1856 bales more than last year,
357. $50 bales more than in 1896, and
9t,S ,S56 bales more than in 1895.
Middling uplands is now selling at
an advance of only SIC cents per
pound above the lowest price touched
this season, and contracts for August
delivery at an advance of only OPS
cents above the lowest.
In our circular lettsrs of January
18th and February 5!h we endeavored
to show the undeniably enormous
losses that the South has invariably
sustained when more cotton wss pro-
duced than necessary to supply the
wants Of the world.
If we should bring the tabulatsd
figures made then, up to this date, the
losses TO The farmers on this years
crop would appear still more startling;
and, with the condition Of affairs now
prevailing throughout the world, the
necessity for reduction IN acreage
this year should appeal to every farm
er with greater force and induce him
to largely increase tbs production of
food crops.
The planters Of the South have no
encouragement to plant cotton largely
this year, with the Anglo. Russian
Chinese complications existing in the
East, which might before the new
crop could be marketed, greatly re-
duce the value OF cotton, and the
strained relations of our own Govern
ment with Spain, which possibly
might result IN war, staring them IN
the face.
Even with permanent peace exist.
ing between all the nations Of the
globe, the consumptive demand for
cotton would not be sufficient to war
rant the production of another such
large American crop as last year. An
inevisc5IIe loss to the whole South, in
our cninion, would surely follow.
From recent circular Of Messrs.
Ellison q D., Liverpool, the highest
authority on cotton consumption in
the word, we make the following ex-
tract as to future prospects:
In our Annl lsl Report issued in
January, We slowed that with an
American crop OF 10,750,000 bales, and
consumption of about $3.50, 900 bales
the stock of American cotton in the
ports of the United States, Europe, and
the surplus stocks st the American
and European mills would be about
1900, 600 bales, against only 800, 900
last wear. and we remarked that in re.
gard to the future of prices everything
would depend upon the prospects OF
the reW crop.
with SIS great reduction in acre.
age as took place in the spring of 1895,
we should see repetition Of the up.
ward movement in values witnessed
in hat year; but, if planters are salts
led with present prices and do not re-
ducs the area planted, then cotton
will become a greater drug than 1t
ever has been in the history Of the
trade, and planters will not get any
thing like present prices. F."
In their report Messrs. Ellison & Co.
based their calculations upon s crop
Of only 1O.75O, 900 bales, when $685.
41S bales have already been received,
and the indications favor 100000
bales or more.
The present untavorable outlook for
prices of next years crop should in
5uce every merchant IN the South to
use his influence with the planters 20
cause q marked reduction in acreage
which would be surely followed by
better prices and greater confidence
in general business operations through
out the South. Yours truly,
Latham, Alexander & co.
THAT Spain is preparing to resist the
4. No-o