The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-04
Conditions Which Seem 10 Make for and
Against Higher Prices.
COMPARISON WITH SEASON OF l894.95
In Rapid Advance of the Spring of
s Small Amount Carried over
Unprecedented Reccipts-Peculi.
nrities of tho Present Juncturo-
Tho Present shortage,
eDy Goods Economist,

'on meet US on every hand. Not only
10 the Southern planter ve1ed by the
~ertinacit with which the staple
clings TO the present rates, but North
ern mill men who hold goodly stocks
OF the raw material, at higher prices.
are equally anxious for an upward
swing of the market. The commission
merchant, the jobber, and the retailer
are all to 4 g:etter or less extent de-
si:ous OF Improvement in the value OF
raw cotton. for It Is believed that such
development would stiffen up the pres
emit weak market for staple cotton
goods and afford q surer and sounder'
trading basis.
The Dry Goods Economist has made
a. careful Dtudy OF the conditions affect
Ing :he cotton market to-day and has
given special attention to the CORES
ponding period OF 1894. when, as is the
case today, an unusually large crop
hung like a wet blanket on the market.
From the facts and statistics thus
brought together some interesting In
fercnccs can be drawn by those who
Will give them i little consideration
THE ADVANCE OF 1895.
The crop Of 1S94-95 Was the largest
on record, amounting to 9.S37,0OO bales,
40 reported by one authority, and TO
1901, 600 bales according to another. On
December Z, 1894. the price OF middi!ng
uplands st New York was 5M cents; on
December 10 of the present year Che
corresponding day. the price was 5ys
cents. During the first two months Of
1896 the value Of spot cotton in New
York continued close TO this latter ng-
use. But by the middle Of March Il
change had begun 20 set IN. The price
advanced to 6 cents. then to GA cents,
and before the middle of April 4 had
reached G GIG cents. Th!1 increase in
value continued until. early in June.
the 7-cent nh-k had been reachtd and
passed.
SAlA Ill AMOUNT CARRIED OVER.
SO far as the statistical position is
concerned, the situation to-day Is bet
ter than Il was at the corresponding
period three years ago. The amount
of cotton carried over from the pre-
vious year on September l last was the
smallest in many years. the worlds
visible supply on September 2. as COM
puted by the Commercial and Finan-
clal Chronicle. comparing with that OF
the three previous years ss follows:
1897. 9S2, T6l 1898 20, 2Sa. $40
1896, ! 1867, 1855 1884 . .1.el3,SS8
The shortage In the worlds stock of
American cotton was still more marked,
the figures as given by the same nu-
thority being:
1897 789.561 1898. 2.oIl .349
1896 .1.oSG.lS 1894. 1929 1873
In other words. the worlds total sup
ply of cotton was S75. 600 bales short
OF the average OF the previous three
years at the corresponding date, lille
':he worlds stock of American cotton
WAS 10000 bales short of the average
OF the previous thee years.
UNPRECEDENTBD RECEIPTS.
So far during the present crop year
the receipts at the ports and interior
towns have been Of an unprecedented
volume. Up TO December 10 the guam
tity broughi into sight compared as
follows with the quantities received up
10 she corresponding date in the pre-
viouS three years:
1897 .5,9I6.00 1895 . i. . .5,6S4. 600
1896 &, 2Si,0 900 1894. &. . .5.Si6. 900
1t Will be seen that the receipts Of
this year are so FAR 10000 bales ahead
of these of the corresponding period of
1894. when the crop was nearly 10,-
600. 900 bales.
INDIAN AND EGYPTIAN CROPS.
1t Is r curious coincidence that while
our big crop Of 1S9t-5 was accompanied
by n shortage in midas production of
cotton, this year the Bombay receipts
slhow up very similarly in quantity to
those of 1894. The figures MS made up
from September ! to December Q thip
year and 20 corresponding dates in the
three previous years. ara as follows:
1897. 200 1895. $40, 600
1896 .lSS. 900 1So4. :. 50. 600
On the other hand. there Is a proba-
bil!ty tha. the crop of Egyptian cot
ton will be somewhat larger thai hat
of 1915. This. however. is a small
matter. not only in point of quantity,
but because the Egyptian cotton Is used
for special purposes.
THE PRESENT SHORTAGE.
Now let us compare the visible sup
ply ar 1t stood OH December 10 with
that Of the previous three years on the
| corresponding date. Here are the
figures:
1897. .s,s67,757 1925 D.. 1906. $50
1886 . .2.S9S,7l6 1891 .4.S99. O32
Ii Will be seen that we are r,!il 81, 900
bales ehind last year to date, and
nearly 5Sl 900 bales bshind 1894. Yet.
when the sensational advance of 1895
began Nn March. as already stated
the visible supply exceeded tina OF the
previous year at the same time by
379,9lS bales.
Inc facts and figures already present.
Ell seem clearly favorable 10 4 higher
cotton market. They are. however. Off
set by ecne imDc!taTs. considerations.
UNSATISFACTORY CONDITIONS.
First. there IL The unsatisfactory con-
dit!on nov existing at Hall River. The
stock of print cloths in that center and
IN j. evidence on December Is, 1885,, was
l57,G20; on December II. 1897, Il, was @
l74,Ce0 p!ecas.
Nct Only IS :here a large accumula-
,i3n Of goods at Fall River, Oh. there