The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-03-05


ruary ., was 1884, 900 bales. This is small
err than any figure since 1891. In tina
year, on the corresponding date, the
worlds visible supply Of cotton was g.,
$4,000 bales and cotton sold at 1-2c pei
pound in New York In the veal
previous--viz: 1s96-the visible supply
for the corresponding week was 2,96600(
bales and cotton sold in New York al
Il S-4c per pound
Since 1890 the worlds consumption OF
cotton has increased fully IS per cent
Since 1891 the estimated increase is about
10 per cent. The figures may be tabuated
as follows
Worlds Highest Tot. spindl' s
visible price Europe, U, s.
Feb. 9 for year and Orient
! 1891 $50. 3,5400O0 lie S5425 900
1900 80. 3,634,OO0 4? 100. 72S, 900
! The London Statist and other influen-
tial financial and commercial journals of
England are urging the British cotton
trade to replenish their stocks as soon as
possible at any price.
Some figure that nearly 10000 will
have to be placed to our credit within a
few months on account of European pur-
chases of cotton. The decline Of late in
sterling exchange is attributable partly
to buying of cotton.
The Atlanta Constitution thus reviewed
the cotton situation in a recent issue.
With cotton fetching nearly Ii cents in
LIVERPOOL. those who have been interested
IN pucking the Southern farmer think it is
ABOUT timo TO rush to cover Those who have
been holding out ia the last ditch of NelllIsm
VIII nave pretty price u pay Tor their folly
as tue Constitution point out long wee As
ago IL is mainly the Lancashire spinners
VINO VIII have TO pay high prices for the
BOBBY nrize
The continental mills in Germany. France
and Belgium have not been SO much under
the influence of NELL deuson. and a great
many or these came into he market a
month ago But Mr. Neill represents Lanca-
shire. and Lancashire has depended on his
ridiculous guesses with a faith that is almost
sublime In it's costliness. We are of the
Vpihlon that the element which has been de-
luded by the guess-work OF Mr. NELL will
hesitate next year whtn mis- estimates are
put forth in the public prints. The lesson
th5y nave learned may or may not open their
eyes but as q mattee of fact. they are now
paving more than $50 a bale for cotton thar
theY could have bought earlier In the season
for $35.
The situation in Great Britain is more
serious than 1t has been painted by the Con-
sututlon. The most influential OF the financial
ana commercial journals of England uclud-
ing the Statist. all OF which were deceived
by MT NeilPs extraordinary estimates have
enahFed thstr tune completely. They are now
urging the spinnerg to get into the market
ana replenlsh their reserve sunply at once
ana az eny price. They say that the situation
Is OF so grave character that the mills OF
Lancashire VIII nave to shut down for lack
OF tho raw material before the next crop
comes in. 'N
This advice demonstrates the fact that
american Journals. including the Constitu-
no, nave pi9o. the reserve supply of cot
ton In Great Britain and Europe at too high
a Lgure. We have been saying all along
that the reserve supply in the foreign mills
"aS perhaps sufficiently large to kesp tho
european purchasers Of cotton were short
on the present crop by 1900, 900 bales. This.
II seems. was an ultra conservative statement
of the case.
The London statist declares that British
purchase Of raw cotton have been CON
siaerahly less than the weekly figures would
hulcate, fact which leads us TO nav n
passing tribute TO the continental buyers who
nave been making their purchases not only in
bremen. but in Liverpool and also In our
own interior markets Lancashire has heen
q pending on Mr.. Henry NJ. Neill aud has
oeen PATIENTLY waiting for an avalanche OF
cotton TO come forth from its hiding places
aud knock prices down to cents--a resnlt
when would surely have happened If tbe
NElll estimate were anywhere within Tho
bounds Of reason Wv
In discussing the next crop the New
Orleans Picayune takes The Posts view
Of the worlds need OF American cotton.
1t says;
The outlook for cotton acreage for ,h,.
wears cotton erop is beginning to claim ats
,entlon, although as vet speculation in that
direction has eAerted no influence The gen
etal impression seems TO be that n con-
slderably larger acreage will be planted in
cotton this season than was planted last veer
u reports are 70 be believed thers baa
l a,,,ay been a much increased sale OF FER
!. The unfayorable reports as to Indian ana
neSptlah cotton production are, also. OF a char
aeter 70 tneourass producers Ia this country
10 Increase Their acreage, AS result OF
.nese Indications. many peoplo are predictipp
.pat prices Viii not be maintained az a saiis
factory lsysl, but will be promptly forced
i9Wn 70 last years unavoidable range
W course. oyerproductiou OF any agrlcult,,
raj product has tendency "a forco 49,
values TO level which no longer pavs n
ioes not follow. however. that he,auaf 40.
lS S asnsake may be Increased this year that
oroocrtions that would render prices nnnrest
,piv. mere increase in acreage does moi
nsure bumper crop. rs weather conditlons
Ultimate Weld. ink lhr
~ shonla likewise be remembered that m.
'op OF isss e iikelN 10 show SHORTAGE os y |
,onpie o. million bales IN ths supply co,nnsrsS
with the worlds requirements 70 sunoIs
nus shortage from next crop would n.ens
, ,,,s ms,erlally increased Weld hence II |
M lu' " hs,sssltv follow that large yislS
MS war would materially lower priees 'ie'u
y would bo unwise 20 advocate ! ,s,
-ha systematic reduction OF COTTON aerssr ssl
= :, Is necessary to grow all the costo ~" ,,
Ncrlc can tax. to retain our sunremsc,, ~ re
slsa -nIodleinE country Ths LUG
Il lAr ne southern farmer IL 10 div.yslss
nnnev efcn 80 devote his Other svnr. Ais
.ne rroars;ion oi food crops srcS - 20
n KS, ~, ne necessities without solna ny
'sAtion Of CROPS would have a tsudsn ssr,i.