The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1900-05-02
The Cotton Situation,


Cotton The market 90 Thursday
and Friday. April 5th and .6,h. me.
some selling by operators. who had
made ID. profit 10 the rise of the two
days preceding. But the market has
siooe shakeo of oil such bulls, aud has
more than recovered what was then
lost The Inherent strength of the
figures and of the situation is now
better and more generally understood.
The problem Of bow to supply the mills
up to Ootober 18th next is fairly before
the market and The trade. The ship
meuts to Great Britain from Septem % Der
1st are today l.272.O0O behind those
OF last year. The stock of American
10 the port is 100000 smaller than
ssme tiue last year, aud the visible
supply OF American is 400. 900 less
than April 10th. 1899. Some ship.
msnss to Liverpool and to Mauch ester
continue. but they are quite inadequate
to such situatioo Unless some great
change 10 .hst respect presently occurs
and there Is 20 INDIGESTION yet of its
occurreuoe-,he end will be Q rapid
depletion Of the Liverpool stock. fol.
lowed by short time 10 the
mills 10 August aod September. Man.
chester gave iudioations that such may
be the practical solution or partial
solution Ct the difficulty as to supply.
II is more aud more evident that foreiRu
markets will refuse to buy for next
season on tho present basis of price.
The spinner and % manufacturer may be
making big profits on contracts 10 hand.
bat 10 August they ought to be booking
large orders for Iudia aud China, many
Of which would take ten to twelve weeks
to mao aoufaoture and deliver. While
oew crop, are Id per pound below
near months. 90 merchant shipping to
tho east will buy except 90 the basis of
new crop prices The manufacturer
would need therefore to buy 10 August
at current months basis. and sell at Id.
discount or refuse the order. He will
refnse. The difference is too great sud
will prove impossible
II 90 the season advances, the Amer.
icsu choose to ship some $50. 900 bales,
then 40 approximate or possible adjust.
meut between nesr aod distant cotton
might occur. Or il i'll look attended
the oeW crop, new crops would rise
sud some relative proximity between
uesr and dstsot months take place
Bat 80 the market now stands. aod %
shipments are as present progressing,
there is no way out of the difficulty
except short time. as present orders
expire.
So far as can be judged, the trade
understand now that tight place is 10
prospect sooe where 10 the autumn, but
have by 90 means ntemplased auy
short time Each spinner aud manu-.
facturer mesos to take care that bis
mill or bis weaving sheds shall coo ne
to rau. He slresdy feels the difficulty
Of booking fresh orders. but enough
hes beeo bought Of late for the home
trade and for few of the minor
markets to prevent aoy undue uneasi
ness on his part. It 10 wben be faces
bis su.uuusl India :sud Chios orders
that tho real difficulty will arise. apd
that period 10 still four months for yard
He still hopes that the chapter of acoi.
dents will save the situation, that 10
one way or another cotton will yet
come forward. and that foreign buyers
will ultimately raise their limits sufi
cicntly. Nevertheless. be Is not easy.
and is, over and above the supply
pcrplexi.ies. q little afraid of the posi-.
BILE macbinstions OF spectators. The
si'ustion is just suoS an one as would
give a strong ring Of speoulstors tho
opportunity to increase all the Daturai
difficulties Of the positios TO the
spiuoer's disadvantage.