The Providence news. (Providence [R.I.]) 1891-1906, 1898-10-17
COTTON SITUATION.
Hope Of Manufacturers is in an Ex-
pansion Of Trade.
Demand Locked From Our New Possessions
From Sugar Trust For Bags.

The Fall River cotton manufacturers
are still suffering from their old com
plaint-declining market, and doubt
less, will attempt TO remedy matters by
curtalling production OF the mills. This
may temporarily improve the situation
at Fall River, but the condition OF the
| cotton industry I'm the United States
| today is such, that sectional reviVal,as
may take place at Fall River, viii not
be indicative OF a general turn in the
market.
Officials OF Rhode Island cotton mills
will probably not take similar action.
News reporter who has been making
inquiry from one of the leading brok-
ers who knows, learns that there is lit
tie or no likelihood of movement TO
restrict output being inaugurated in
this state. According To this informant,
no cotton mill in Rhode Island is MAX
ing profit today. Some are holding
their own, whilst others are losing
ground, but even the largest are not
making money.
The cause OF the depression-immense
surplus OF manufactured goods in
hand-is too familiar to all in the
trade TO need extended analysis. The
converter. the man who buys and cuts
up the cloths for garment making Is
just now shrewd and very much alive
to his own individual interests. He real
iYes that he can buy at the bottom of
the market just such quantities OF just
such lines of fabric as he may want.
end 20 arv tine he may see ft Con
seQueuilv I've leaves the carrying of the
nVerrlus of goods with incumbent ex-
pgnsCs- insurance. interest and all
entirely with the manufactures. That |
Is why the latter finds the burden too |
great for his branch Of the business
AT the present time the production |
of the mills Is about on "A par with the |
average demand. The surplus is what |
creates the mischief. But were this SUI |
periluous stock Of goods removed from |
the market AT once, the number of /
mills In this country would increase /
largely by influence OF the rise in val
ues that would follow. and in due time
the cotton trade will again be confront
ed by the troubles that beset IT today. |
In the mind Of our broker there is but
one means Of reinstating the cotton
cloth industry of the United States up
on n profitable basis--the development |
Df commerce with some OF our new
land possessions. The Indies and the
are located in the tropics
and cotton is the chief article OF cloth
ng worn by the masses. Through this
people will come the salvation OF the
industry.
The Sugar trust Is about to adopt the
ise OF cotton bagging instead OF bar
els for the transportation Of the pro-
luct. The sugar bag must necessarily |
,e of fine texture and the quantity OF
{ used will be enormous Thus is an
venue afforded for disposing OF a GER
ain amount of the cloths now on hand. |
nut the new country must be looked To
or means to enable mill owners TO
make out a clean balance sheet.
In conclusion the broker stated that
american cotton itself is now cheaper
han ever before save I'm 1S47, when |
nder pressure OF n bad break in the |
eneral commercial market 1t declined |
o cents fiat i'm New York and remain
d at that figure for two days. The
Jumper crop Of several years ago car
led the price OF cotton down to 5b
ents. Now, however, middling up-
and cotton is barely steady in New
'ork at 5A cents.
The belief now is that cotton must of |
ecessity settle upon a low basis of
alue. The manufacturers will not buy
I'm any quantity, which i'm itself is
ifiicient 10 bear the price to the lowest
ossible point; moreover the manufac-
irer cannot afford To pay a high price
'r the raw material. The growers be-
ond question will continue to plant
leir fields with cotton. Just as they | Z
ave done through the past period OF
epression and the prospect OF low
iced cotton, therefore is very well de-
ned.