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

The Cotton SITUATION.
From the Lordoo Stats, Of April IA.
Cotton The market 90 Thursday
and Friday, April 5th aud 6,h, met
some selling by operators. who had
made 4a. profit in the rise of the two
days preceding. But the market has
since shakeu OF all such bulls, and has
more than recovered what was then
lost The inberens strength Of the
figures aud of the situation is DOW
better and more generally understood.
The problem of hov to supply the mills
up to October 18th next is fairly before
the market and the trade. The ship
mep.s to Great Britain from September
lss are today l,272.000 behind those
of last year. The stock of American
io the port is LOO. 900 smaller than
same time last year, and the visible
supply Of American is l,40O. 600 less
than April 10Th. 1899 Some ship.
ments to Liverpool and to Manchester
continue, but they are quite inadequate
to such a situation Unless some great
change 10 .has respect presently occurs
-apd there is no indication yet of its
occurrence-tbe end will be rapid
depletion of the Liverpool stock. fol-
lowed by short time in the
mills iu August ADD September. Man.
chester gave indications that such may
be the practical solution or partial
solution cf the difficulty as to supply.
Il is more and more evident that foreigo
markets will refuse TO buy for next
season on the present basis OF price.
The spinner and manufacturer may be
making big profits 90 contracts in hacd,
but iu August they ouga: to be booking
large orders for Iudia aud China, many
CT which would take ten to twelve weeks
to nauufacture and deliver. While
new crops are Id per pound below
near months. DO merchant shipping to
the east will buy except on the basis Of
new crop prices The manufacturer
would need therefore to buy in August
at current months basis. and sell at Id.
discount or refuse the order. He will
refnse. The difference is too great aud
will prove impossible
If as the season advances. the Amer
icau choose to ship some 750 600 bales,
then 40 approximate or possible adjust
ueut between near aod distant cotton
might occur. Or if i'll luck attended
the pew crop, new crops would rise
aod some relative proximity between
uea, and distant months take place
But as the market pow stands. aod as
shipments are at present progressing,
there is no way out of the difficulty
except short t'me, as present orders
expire.
So Tar as can be judged, the trade
understand now tnat tight place ls in
prospect Somewhere in the autumn. but
have by co means contemplated any
short time Each spinner and manu-
facturer meaos to take care that his
mill or bis weaving sheds shall cootlnue
to ruu. He already feels the difficulty
of booking fresh orders, but enough
has been bought of late for the home
trade and for a few of the minor
markets to prevent auy undue uoessl
pess 90 his part. 1t is wbeo be faces
his au,umnal India ..aod China orders
that the real difficulty will arise, ard
tha, period is still four months forward
He still hopes that the chapter of acci-
dents will save the situation, that 10
ope way o. another cotton will yet
come forward. and that foreign buyers
will ultimately raise their limits soa1
GENTLY. Nevertheless, be is not eaey,
aod is, over aod above the supply
pe-plexi,ies, little afraid of the posi-
ble macbirations o: spectators. TIE
situation is jus; such an one as would
give a strong ring Of spectators the
oppor;uoice 70 increase all the patu7ai
difficulties Of the posisioa TO the
spiooer's disadvantage.
Coed hsmmocks chcap-pet,er ones for a