The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-11-10

crease we have, according to their esti-
mate, a net decrease from last years crop
of 653, Az bales, which, deducted from the
crop of 1900, which was 10 ,425, 900, leaves
a yield of 9.771, 58S bales for the present
crop.
My own judgment is that they have
made the increase in the old States too
much, and figured too low on the actual
decrease in the trans Mississippi section.
My opinion is that the crop will reach
100000 bales. judging from all the in
formation had up to date.
Whether or not the crop can be or will
be increased in Texas by top crop if
frost is much longer delayed / put but
little faith in it.
ro,roN FAMINE IN PROSPECT.
Mr.. Ellison. the statistician for the Eu
ropean spinners on consumption, has
made the statement recently that the
world will require not less than 11.50O,000
bales of American cotton during the next
twelve months to meet the demands OF
consumers. There was but little or no
good cotton on hand at the opening of
the present season, carried over in stock
from the crop of last year, hence if Mr..
Ellison is correct and he usually is, and
our crop does not yield more than 10000
600 bales, there will be a big cotton fam
inc next year unless trade conditions
should get decidedly worse than they
now are
Quoting from one of my New York cor
respondents, whose letter was received on
October 26, reviewing the cotton situa-
ton, he says 1.-THE future market in
Nov nrty ho, h1n ELL t,nV%
mered the last ten days by Philadelphia
spot people in conjunction with others
for no other reason, the writer believes,
than to weaken the faith of holders in
the South in their staple. Unless all
reports coming into our office are wilfully
and basely exaggerated, which we do not
believe to be the case, this crop Of cotton
will possibly be the smallest which has
been made since 1896. In this case cotton
should bring, instead of tx cents, 1917
cents. We will have next summer, unless
trade conditions are miserable or We
should have international wars or some
great calamity should overtake US, the
greatest cotton famine we have ever
seen in this country or in Europe. The
people who handle the actual cotton are
using every endeavor to get the farmers
production for nothing this year, and
while 1 do not know how you can pre-
vent it, you should certainly use your ut
most endeavcr to induce farmers and
merchants to hold the remainder of their
crop for at least legitimate price, which
would certainly not be less than 10 cents
per pound, and the writer believes that
it would bring much more later on.
1.-The market here is being sold now on
oirfc in ho m 10 ha
DRY that cotton is making every day as
fast as it did in August and that should
we not have frost for three weeks longer
this will be a bumper crop. OF course,
this is ridiculous, as we know, but it is
hard to convince people who know moth
ing of the staple of what are actual facts
With all Of your airing last summer OF
the rules of this exchange, they have
not been changed"
There is considerable truth in the let
ter quoted, as every farmer South who is
posted on the situation must admit.
have all the season contended that If we
could get 10 cents last season we were
certainly entitled to it this season.
The stock of cotton in New York at
present is quite low, and if the farmers
and merchants should now hold the bal
ance of the crop and insist upon better
prices we could control the market in
less than thirty days. II the farmers
will read the daily market reports in their
papers they will see that the only factor
which has enabled the buyers to depress
prices this fall has been heavy receipts.
Cotton has not been bought on basis
of value, but solely on the power IN die
tate prices on an overcrowded market
during a short period of time. We must
study the situation more, have more con-
cert of action and gradually demand what
is our due. HARVIE JORDAN.