The gold leaf., 1899-11-09
{ Raleigh Pos

81
| Crop of the South COMPARED
! tRaleigh Po>t)
! The Norfolk Cotton Exchange has
| Issued It's ''flnal report Of the cotton
crop Tor the States Of Virginia, North
! Carolina and South Carolinan 1t
! shows that the crop will be at least
20 per cent. short and that the pick
inGs are nearing completion. 1t is
asserted that the crop was gathered
earlier this year than for many sea
| sons, and the bulk will have been
| ginned by November /.
| from our information this is a
very conservative statement, certainly
not exaggerated.
And 1t is as conservative a claim as
can be made for the crop of the South.
On this basis let US consider Mr.
Neills figures again, for however lit
tie we may like it the estimates OF
that gentleman have more weight on
| the worlds market than those of all
others.
In August, when everything prom
iscd full crop, Judging from the
acreage planted and then pros pects,
MIR. Neill estimated the limit Of the
crop at twelve million bales.
| Since that estimate storms, ,drOurhth
and other destructive agencies have
admittedly done very serious damage
to the crop throughout the entire
cottonproducing area. What is called
the top GRO ,',' and which is relied
on to constitute IA large per cent. OF
the total yield, has been, admittedly.
seriously y inj ured throughout, totally
cut off III many sections. Some weeks
ago the damage throughout Georgi:.
and the States further South wa,
| claimed to reach from 80 to 30 per
cent. Until this estimate by the
Norfolk Exchange Of 20 per cent. for
this State and South Carolina, no ono
had placed the damage in the two
States at less than % per cent.
But we will take Mr.. Neill's more
| favorable figures, twelve million bales
and estimating the loss throughout
on the 20 per cent. basis only, will
reduce the crop to 10000 bales.
| Mr.. Neill's latest estimate admitted
damage that would probably reduce
his former estimate down to ten and
a quarter million bales. IT, as is
| charged, Mr.. Neill's interest is TO
magnify the crop for speculative pur-
| poses, we can at least take his least
estimate as the maximum, and allow
inc fully for his zeal, on the one side,
and the general opinion of greater
loss which others claim, strike 4
| balance and then the crop will be
below the ten million figure. And
we believe that, considering all re-
sources, late pickings, etc, ten mil
lion bales will be the full figure Of
the crop this year.
If it were known positively, or if
these calculations could be impressed
| upon the Liverpool buyers who do
and will fix prices until we come
nearer manufacturing the crop than
we do we believe the price would get
to eight cents promptly, if not higher.
A tenmillion bale crop, with only
| the two and one-quarter million
bales brought over from last crop,
not only justities, but will compel
eight cents at the least so soon as
such estimate can be realized.
| The condition of the manufacture
| ing world now ustities this price,
and we contend that the limited crop
specially iustifies it. We shall not
try to help out false hopes to our
farmers, but giving the situation,
| and estimates from all sources the
best consideration we can, we are
forced to believe that the present
crop will command eight cents at
least before very long.