The times. [volume] (Richmond, Va.) 1890-1903, 1898-07-07
COTTON PRICES LOW.
The large Supply, However, Is Being
RaDidIy Absorbed by BUYERS.

Colonel Alfred -. Shepperson. the cot
| ton statistician, believes that we can wei
| AFFORD 10 dispense with the cotton trade
OF Spain. During last season." said Col
onel SheppersOn 10 a representative oil
tho Commercial yesterday, I'VE exported
TO Spain only $4,000 bales of cotton.
while during the same time Japan took
from Us 10000 bales an increase of 1900
bales over the previous seasons ship
ments TO Japan This shows the unim-
portance Of the Spanish cotton industries,
and also the manner In which little Japan
IS coming right up as a consumer OF our
goods For every bale OF cotton that IS
left on our hands IN consequence OF the
loss Of Spain as customer. We shall sell
one extra 20 Japan. so that the loss OF
the trade OF the DOns need have no de-
pressing effect on the trade of this c0un-
try.
80 FAR as their power Of iniurlng the
cotton trade OF this country is concerned
there might as we'll have been no war
When the war first broke out prices went
up a little IN Liverpool on the belief
that Spanish cruisers would waylay our
vessels, but this scare soon died out,
and 1 have yet 10 learn of the capture
OF single bale OF cotton by the
Spaniards
4 AAH ANNhWW CONDITIONS III AIllN country
arc very satisfactory. The supply Is 200
600 bales moro than a year ago. and our
mills hold considerably larger stocks than
az this time last year when, IL Will be re-
membered their supplies were unusually
small The stocks in Europe exceed those
OF last year 10y Z26000 bales. while the
European mills have probably 300 600
bales more than at this time last sea-
son. our mills and markets had very
limited stocks of cotton a year ago. and
the present stocks I'm America and Europe
are not excessive. IN view OF the in
creased consumption over last season
and the prospect of n still larger rate
Of consumption IN the early future. on
account of the comparatively good stocks
Of cotton I'm tho markets and mills. and
the very farabe reports concerning our
growing crop. the sDinners here and In
Europe are generally Indifferent about
buying. even az tho present low prices,
and this feeling will be likely 70
prevail as long as crop accounts CON
unue good.
That cotton is unquestionably cheap,
compared with IT'S value In recent years,
IS clearly established. Compared with
prices OF a year ago, wheat Is still ~
per cent. higher. Notwithstanding the
recent heavy decline. while corn. oats
and mess pork are % per cent higher
and sugar is 70 per cent. higher. Cotton
is 3-S cents per pound or Is per cent
lower, and print cloths ~ cent per yard
or 20 per cent. lower. To is quite clear
therefore. that cotton IS also cheap COM
pared with other staple commodities.
up 10 this time about 100000 bales
more of our crop have come into sight
than at the corresponding time last year.
and yet the visible supply of American
cotton in the world is only 100000 bales
greater than 4 year ago. This is the
significant feature of the situation, and
emphasizes the fact of the rapidity with
which cotton IS absorbed and passes out
OF sight when prices are ow.'-New
York Commercial.