The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-29
THE PRICE OF COTTON
WILL BE HIGHER IF FARMERS
AWAIT FURTHER DEVEL+
OPMENT.
THE CROP WILL PROBABLY NOT EXCEED
100000 BALES.
The Producer of Cotton In the South To-day
Is In Command of the Situation"
NeiIPs lpse Dixit.

NelfS lpSe UIxIt.
The event of the past week in the cot
ton world was the estimate of the crop
made by the Commissioners of Agricul-
ture of all the cotton States i'll session
at Atlanta. These gentlemen are in a
OF the cotton crop than any other living
men. They have no private interest to
subserve. They have correspondents in
every neighborhood in the cotton dis
tricts, they have studied every phase of
the crop since it was planted, and have
sought to gain the truth as to the size
of the crop. After comparing their re-
ports, the Commissioners gave it out as
their official estimate that the cotton
crop for the cotton year of 1S99-l900
would be 100000 bales. They made
no deliverance as to what it ought TO
bring. If the crop does not exceed g.,
100000 bales, it ought to net the farm
ers eight cents a pound though the
uncertainty and the stubborn sticking
to Neilrs figures by foreign buyers keeps
the price much below its actual value
One of the largest and most reliable
cotton houses in New York, in recent
letter says:
Receipts of cotton at present are on
a scale that justifies the smallest crop
estimates. The producer of cotton in
the South to-day is in command of the
situation. If he is kept advised of the
facts and not alarmed into parting with
his product below the value which the
relations of supply and demand this year
justify, your section win be greatly bene-
fitted. We cannot help but feel resent
ment that the ipse dixit of one man
should be as seriously regarded as is
Mr.. Neil's. As far as we know, he
has no organization for obtaining any
very comprehensive information with
regard to the cotton crop. He is, avow-
eddy, representative of the buyers. whose
interests are in favor of lower prices
He cannot be clairvoyant, and he must
be human. In our opinion, were it not
for his efforts. cotton would today be
selling at considerably higher prices than
are current, and it remains for the press
of the South to thoroughly advise its
constituency as to the facts.
Neill & Company. Of London, issued a
circular confirming Henry NJ. NeiIl's
estimate of II 100000 bales, and stating
further that the prospects of top crop
We're good; the weather favorable, and
that the plant is mostly dry, and that
frost would not do much damage With
u view of ascertaining how far this
prediction was borne out by observers on
the ground, Price, Mccormick & Com
pany, of New York, telegraphed to trust
worthy correspondents throughout the
South asking them what We're the pros
poets of top crop. The answers as a
rule showed that there was little or no
top crop, especially in Texas The an
swers from North Carolina are as fol-
lows:
Concord, n. C.-No top crop this Sec
ton. j. Dove.
Charlotte. n. C.-There will be no top
crop in this section.
John W. Miller & Co.
Newbern, \. C.-Personal investiga-
LioA anu lNpoAiS
practically no top crop" picking nearly
done. J. l.. Latham.
Charlotte, " C.-Dont think there
will be any top crop here.
Commercial National Bank,
j. S. Spencer, President.
Raleigh, n. Crop crop on highland
ruined by drought; good weather may
mature some in bottom.
Commercial and Farmers Bank
Charlotte, y. C.-Top crop theory alb
surd for this section.
Sanders. Orr & Co.
Charlotte, n. Cline, open mild
weather undoubtedly adding materially to
crop. First Nat. Bank of Charlotte.
Wilmington, n. C.--Reports conflict
ing, but satisfied 10 to Is per cent short.
continued warm weather may increase
top crop. Murchison q Co.
Charlotte, \. C.-Continued favorable
weather has considerably increased top
crop in this section, which applies main
~ to late planting and stiff and low
ground, ON which good crop will be
made, if prevailing weather continues
two weeks. Il. ID. Heath
Raleigh, y. C.-Good weather posi-
bly, increased crop this county on bot
tom lands = nor cont