The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-03
THE COTTON SITUATION.
Atwood. violet * Co. show Basis oil
Their BuIIish views.


New York. Feb. 2.-Messrs. Atwood w
olett &, Co. of New York have just issued
the following circular;
The cotton exports from America lioi"
Jan. q TO Aug. 81 1899, both inclusive were
A 129 900 bales. From Sept 1, 1899, to Jan
81 1900 there had been exported from TINS
country nearly eco bales less than from
Sept. /, 1898, to Jan. 27, 1899. Consequently
10 equal the totol exports from Sept l.
1898 to Aug. 81. 1899, there must pe eA-
ported from this country from jan - 10
Ane 81 1900 6.500O00 bales of cotton. 10
show the impossibility of exports oil any
snch oantity. we submit the following:
The total visible supply of American IN
This country on the 9th inst. was 17lSoO
bales. and on the same date, the amount
marketed OF the present crop, according 10
the Financial Chronicle had been 6.ofe'SI9
ba1es Assuming. as we dc that this crop
will realize S.7500O0 bales, II means that
the invisible supply in this country was
on the 9th inst, about 2,2o0W9 pa4es'
which added 10 the visible supply, gives
a total of both in this country on the z'1h
inst of about 3,9lS 600 bales. Inc + man
ciaI chronicle of the 9th inst, makes
Southern consumption to that GATE since
sent l. 1899 Gil 600 bales, and NO therh
mills takings to same date 1,5S2,59S baIes,
~, oooreaate of 2193. 900 bales. The total
of Northern spiuners' takings and SCUM
arr, cons1luDtion for all of last season was
q $50 1914 bales Consequently, II TINS coun-
try consumes no more than last sea OF or
Cyvhereas ii will consume &O,U0 70 0V''oVo
hales in excess of last season., 1t means
hal
o,1irad between jan. q and Aug 81 1910
for domestic consumption, in addition 10
. / % 0O0 bales as above to the Y n INST
Tban again. there must be carried over
on Sent ] next, in this country at least
4o1 COZ bales of visible and invisible sup
plv. and deducting these two amounts from
. oAS 600 bales it shows that there Will be
Iaft for EXPORT, not only to Europe but TO
r,,ina Tanan. Mexico and Canada from
- 81 to Aug. 81 1900, about 2,l52'WO
baIes against exports during the same
neriod last year of 4l29.00O bales. Ihese
foures are startling because OF the sup
IN Darticularly when taking them IN
connection with the worlds consumption
of American cotton in regard to which
we have to say as follows. According 10
the authority on European mlll STOCK anu
nt,s',,,ntion (NIr. Thomas Ellison) the ag-
oroeate amount consumed by English and
Continetal spinners is now l65'Oo pdleS
weekly. of all kinds OF 800 pounds edcn;
taxing the daily report of the Liverpool
,,,arIIet If shows that the proportion OF
t,,,arican cation sold, to that of all kinds,
a. about 90 Der cent, and, no doubt, inc
mo rroportion is true of the daily conu-
,,ey,tal sales of cotton of all kinds. Assum-
ing however. that only 80 per cent. OF
r,,,roraan consumption is American cot
ION. and this represents, out. OF lo5'WO
ha1es weekly about $4,000 bales of Amer
;oar tho wee xiv consumption of Southern
,,ute according to the Financial enron
lie and Secretary Hester is 10000 bales.
The consump ion ny Northern mllls must
car+ainlv be 1000 bales weekly or a toJal
Of g0a 900 bales To this must be added Ihe
consupnption Of American, by China ia
non Naxico and Canada. and elsewhere.
Assuming that this aggregate is ony 6'O)
bales weekly it gives a total weekly con-
sup,otiOn by the world OF 2l5VJV bales
~ American. or II 900 bales per an
mum. Ii can he safely said, however, that
the spiuning world is to-day consuming OF
American cotton, an amount per ahhum
of II. 25O.O00 bales, equal TO the largest con-
sumption on record-that of last year,
when il was largely stimulated by the low
price. ,. -
The worlds buying power however has
increased so aterally during tne past
twelve months, as 70 show hat Inc hlgAef
nriees for cotton. instead of lessening con-
SUMPTION is stimulating the productive
ness OF the worlds cotton manufacturing
Industries
with crop this season Of even s750,O0O
bales. and adding TO 1t 100000 bales
brought over on Sept / last Of the world $
visible supply of American of 1852, 600 bales
would stll leave on Sept. J. 1900 dehcit
between supply and consumptton OF Loo
600 bales. but IL would also leave the
worlds visible supply dangerously smaE,
and smaller than on Sept. ] of any year
since 1889. the crop OF which season wes
1911 coo bales and at which time The PR,
of middHng cotton in New York was 111ac
against Sisc today.
Any one can reasonably anticipate from
these statistical conditions as we have
presented them an advance of great pro-
portion. and in giving this data as here
in contained we do so in oder to show
what has been for y long time past che
basis of our publish views for the staple
and which we have continually put forth
IN our market letters to the local aud
Southern press during the past five
months. Atwood. Violet & Co.-ad.