Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-04
NeSsIS. atwood, Violett & Co.

of Now York. have issued the following
circular:
The cotton exports from America from
January 9th to August 31st 1899. both
inclusive were 4.129000 bales. From Sep
tember. list, 1899. to january 9th, 1900.
thore had been exported from this coun-
try nearly 100000 bales less than from
September list, 1898. to January 9th. 1899.
Consequently, to equal tho total exports
from September 1st 1885, to August Slst,
1899. there must be exported from this
country. from January 9th to August
31st. 1900 6.000.000 bales OF cotton. To
show the impossibility of exports OF any
such quantity. we submit the following:
Tho total visible supply Of American in
this country on the 27th instant WIS
1,74S.oO0 bales. and on the Same date, tho
amount marketed of tho present crop.
according to the Financial Chronicle, had
been G57S. $40 bales. Assuming. as we do,
that this crop will realize S,160,000 bales
means that the invisible supply in this
country was, on tho 9th instant, about
2. 1000 bales. which. added to the Wis.,
bio supply. gives a total of both In this
country on the 9th instant or about
3.s4S coo bales.
Tho Financial Chronicle of the 9th in
that date since September 1st, 1899. GIL 900
bales, and Northern mill takings to same
date. 1,5S2.Ss3 bales. an aggregate of g.
193,0c0 bales. Tho total of Northern spin
ncrs tal1ings and Southern consumption
for all of last season was 3.5S9.494 bales.
Consequently, .f this country consumes
no more than last season (whereas it will
consume 250,000 to 100000 bales IN excess
OF last season.. it means that to equal
1t 1860 bales will be required between
January 9th and August 31st, 1900 for
domestic consumption, liz addition to
2.f93.c00 hales. as above, to the 9th in
slant. Then. again. there must be carried
over on September list next in this coun-
try at least 100000 bales of visible and in
visible supply. and. dcductlng these two
amounts from 3,94S, 600 bales. it shows that
there will DO left for export, not only to
Europe. but to China. Japan. Mexico and
Canada. from January 9th to August
3lst. 1900, about 2,152.o00 bales. against
exports during the same period last year
OF $4,000 bales.
These figures are startling because of
tho supply. particularly -water, taking;
them in connection with the world'a con-
sumption of American cotton, In regard
to which we have to say as Follows:
According to tho authority on European
mill stocks and consumption (AIr. Thomas
Ellison) the aggregate amount consumed
by English and Continental spinncrs is
now 1885, 900 bales weekly, of all kinds, 600
pounds each. Taking the daily report of
tho Liverpool market 1t shows that the
proportion Of American cotton sold to
TINT OF all kinds is about 90 per cent. and
no doubt, the Same proportion is true of
ha fnilU ~ Of 81
kinds Assuming. however, that only So
per cent. OF European consumption is
American cotton and this represents, out
of 10000 bales weekly, about 129 goo bales
of American. The weekly consumption OF
Southern mills. according to the Finan-
cial Chronicle and Secretary Hester is
$1,000 bnles. Tho consumption by North
ern mills must certainly be 10000 bales
weekly, or a total OF 100000 bales To
this must be added tho consumption of
American by China, Japan, Mexico and
Canada and elsewhere. Assuming that
this aggregate is only 5000 bales week
ly. 1t gives a total weekly consumption
by the world of 215.O00 bales of Amer
lean. or 11.1So.000 bales per annum.
1t can be safely said. however, that the
spinning world is to-day consuming, of
American cotton. an amount per annum
OF 1920. 0G0 bales, equul to the largest
consumption on record-that of last year
when 1t was largely stimulated by the
low price. The worlds buying power
however, has increased so materially dur
ing tho past twelve months as TO show
that the higher prices for cotton instead
of lessening consumption. is stimulating
the productiveness of the worlds cotton
manufacturing industries. With u crop
this season of even S,75o.0oO bales, and
adding to 1t 100000 bales brought over
on September list. isst. OF the worlds Wis
ible supply of American Of 1867, 900 bales
would still leave on September 1st. 1900
deficit between supply and consumption
of 1900 900 bales, but 1t would also leave
tAa-1xailds -vlslhla-snpply- dangerei.sl,.
small. and smaller than on September LIST
of any year since 1850. the crop of which
season was 1911 600 bales and at which
time the price of middIns cotton in New
York was 11Ia cents. against SIS cents to-
day
Any one can reasonably anticipate from
these statistical conditions, as We have
presented them, an advance of great pro
portions. and. in giving this data as here
what has been for a long time past the
basis OF our bulish Views for the staple
and which we huve continually put forth,
in cur market letters to the local and
Southern press. during the past five
months.
(Siened)
Atwood, Violet 2 Go.