The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-19

doubtless in the interest of the English
SPECTATOR and cotton dealer and while
1t has already done inealeulable injury
mo confidence should hereafter be SCI
riously given his reports-the most con-
servative estimates that ! have been able
to obtain is-the crop will not be over
nine million bales-certainly not over
nine and one-quarter million bales. The
world will need all of nine million bales
of American cotton and should the crop
not exceed that quantity, higher prices
than now exist must inevitably follow
before another crop is made. No old
manufactured stocks are held by mills
anywhere-goods are not accommodating
but fairly we'll sold ahead of production
and as the raw material promises to adj
vance. the price Of goods will likely 20
higher. An upward movement IS nor
unreasonable and the natural coaclu-
sion from the Inherent bouyancy OF trade
generally in every department through
out the country, as is generally known
last years crop was the largest ever
made i'm the history of cotton production,
II, 235.3S3 bales of which were taken
for consumption by Northern mills, .
PAT. 092 bales. of which were taken for
consumption by Southern mills, 1.400,-
026 bales exported to Europe Canada
and stock on hand, 1855, 2G5; total, H.
90, 1888 bales.
The Southern mills in many sections
are running night as well as day, to
prevent a too rapid accumulation of
orders. There has been an increase of
40 per cent in Spindles in the average
capacity of the Southern mills within
the last five years. North Carolina has
more mills than any other Southern
State and is second only to South Caro-
lima in spindles, looms and consumpt ;on
Of cotton. We have i'm this State L.
0032(iS spindlcs, %. 178 looms and CON
sumed last year $50, 234 bales of cotton,
say, lis, I09,9SO pounds, in value about
ten million dollars. North Carolina con-
sumes u 1000 per cent of all the cot
ton spun in the Southern States The
increase in spindles in all the New Eng
land mills last year were in round num-
bers 10000. while in the South, the in
crease was 317443 Spindles, about G.i5
per cent over that Of the North. This
State comes nearer manufacturing its
crop than any other Southern State,
say about four-ffths of her entire crup.
Now if you will deduct all the cotton
shipped from the State, the mills will
need every bale within the State the
first Of January next. The New Eng
land States last year consumed 20 per
| cent of the entire crop, while that of
the South consumed 1919 per cent, MAX
ing total 3215 per cent Of the crop used
! by mills of this country. We should
and wil no Doubt, in the near future,
| greatly increase this quantity. The more
we can spin ard put our crop into man
! ufactured goods. the more people en-
! ployed the more wages paid, the more
money it will leave in the South and the
| better price we can get for our raw cot
| ton manufactured. We need not fear
but what the European mills will ever
| strive to keep in check the enlargement
| and development of our manufacturing
| interest. from the single fact they can
manufacture, but cannot produce c1ttt.l,
! that Of itself. will stimulate them to al
| ways bid high for our raw material. hav-
! ing millions upon millions invested in
machinery and employed in the tra le
| of manufacturing cotton goods. Print
/ cloths have advanced recently about 90
per cent. from lowest prices, with sales
/ of from two to two and a half million
pieces, all former records broken as to
| quantity sold. the price Of these ci0lEs
are fixed by a selling committee. Al
| though there has been some advance in
cotton over prices two or three months
ago. yet the advance is not equal 10 The
advance in manufactured stock or goods
and while almost every other commodity
| has advanced twenty-five, fifty, and in
some instances an hundred per cent, cot
ton appearing to be alone, in not keeping
| up fully with the procession of pos
| perity. The Government Bureau OF
Statistics report for September, shows
an increase of $S.153957.04 in exporr
Of cotton for that month as compared
for same month in September, 1898. No