The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1900-09-06
THE PRICE OF COTTON.
Good Chances For It 10 Be High.
SOME SIGNIFICANT FIGURES.
Atlanta Journal.

SOME SIGNIFICANT FIGURES.
Atlanta Journal.
| When Hon. G. II. Jordan, the agri-
cultural editor of the Journal, several
months ago predicted that cotton
would bring ten cents pound this fall,
there was skepslclsm in the minds OF
many who had not given the subject
study, and even In the minds of some
who had. A number CT farmers and
fertilizer concerns sold cotton for fall
delivery at about eight cents.
Now it transrires that there is more
faith in the staple, and the talk of ten
cents has become common among news
papers and people who have just wax
ed up TO the situation. No one can
predict with absolute certainty what
the market will be, but the general
opinion as to the fall price of cotton Is
far above that of two Or three months
ago.
There is an impression abroad that
the demand for cotton Will be serious
~ curtailed by the war in China. This
is a most popular impression cal
culated to effect the price Of the staple,
but in we'll Informed circles it will not
have much more effect, for general
reasons, among which are the follow
ing:
The amount of raw cotton purchased
by China in 1899 was "a, 600 bales but
her purchases Of cotton goods amounted
to $73, ,671.971. The amount OF raw cot
ton In these goods, added to that taken
in the raw state, will make about 6OO,-
600 bales of 500 pounds.
II all of this trade were cut off by
the war this year it would be cffse.
twice over by the failure of the crop
In India.
It is estimated that the cotton crop
of India this year will be about ono
fourth of the average for the past five
years. That average was about 1900
600 bales of 500 pounds each. This
year the official estimate OF the dlrec
tor general of statistics Tor India is
about 100000 bales OF 500 pounds
each.
| This leaves shortage of 100000
bales in India. IF the demand for cot
ton and cotton goods in China were
wholly cut off, the shortage of the Gre p
in India would offset it and still leave a
shortage of 100000 bales.
1t is not likely that the Chinese de-
mand will be entirely cut off. While
war is progressing in the province Of
Pc Chi Ii, containing the cities Of Pc
kin and Tien Tsln, other PROVINCES.
with the ports of Hong Kong, Canton
Shanghai are open to trade.
The bulk of the imports goes through
Hong Kong, and there we haye heard Of
no check upon trade. 1t is likely, there
| fore, that most of the consumption of
cotton goods in China Will be reported
the coming year. If the allied powers
speedily reduce the insurrection, which
has been called ian imperial riot"
confined mostly to the province which
includes the capital and Tien Tsin, and
the progressive young emperor is
placed on the throne, the entire coun-
try will be opened up and the foreign
trade will be immensely increased.
The tendency in that direction is
shown by the fact that it increased 25
per cent. in the last year reported, end
ing with 1899.
The chances are that after the cur
tailment of demand, if any, due to the
war in China, Is deducted, the crop
failure IN India will have a shortage Of
over a million bales, SO far as the con-
tinent of Asia is concerned. With
cotton consumption increasing throug-
out the civilized world, and in many
parts which are hardly civilized, there
will be large relative shortage.
| In this country the condition Of the
growing crop was reported by the gov
ernment bureau of statistics at rs,
which 10 lower than the condition OF
the crop in August first tor several
years. The crop promise cf two or
three weeks ago has not continued and
untimely drouth following wet season
has done much damage to the cotton
in some sections.
Well informed opinion now looks for
a crop of about 10,250,OOO In this
country and crop in the rest OF the
world far below that of recent years.
| Under thess circumstances, with pros
porous times ard high leyel OF pur-
chasing power among the worlds work
ers, the price ought to be good.
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