The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-02-07
PRICE PREDICTS HIGHER
PRICES FOR COTTON.
Denies Reports Tint He Ras Changed
His Opinion on
the Crop.
REPUBLIC SPECIAL

REPUBLIC SPECIAL
New York. Feb 6-Theodore II. Price. an
authority on cotton, is indignant over re-
ports in circulation to the effect that he
has changed his opinion in regard to the
size of the crop and the course of the
market.
In reference to these reports. he says:
ut has come to my knowledge that with
In the past few days a report has been
industriously circulated that. notwithstand-
ing my widely published crop circular Of
January 20 and the views therein expressed
I have changed my opinion with regard to
the size of the crop and the course OF the
market Were it not for the implication of
insincerity involved. 1 should ignore these
reports entirely. but inquiries received from
many friends impel me- at the risk of SEEM
ing somewhat egotistical. to deny them
most emphatically.
"As the season develops and the move
raent of crop progresses. the probability
that higher prices will be realized for cot
ton becomes. in my judgment. more and
more of a certainty. The following propo-
sitions hold to be- self-evident:
81. That this years crop Of American
cotton has moved more rapidly than has
any crop for many previous seasons.
'2, That the light receipts at present are
due to comparative exhaustion of unseen
supplies.
..s. That TIE crop is only about 100000
bales Of last years weight and that TINS ms
worlds requirements at the present rate
OF consumption:
-. That despite interested reports 10 tne
handing the causes which make for such
expansion being the reopening of the Chi
nese markets fts the the mInsns
of the South African war. and the indus
trial Improvement In Germany.
'.5 That all reliable sources Of informa-
tion with regard to the condition of Amer
lean manufacturing trade abundantly attest
the fact that the mills are fully employed
and will require sufficient cotton to keep
every spindle going. unless the market ad-
vences to a prohibitive price: and that,
misled by cverestimates of crop. Amer
much cotton as they had bought up to
this time last year, and from now on
will therefore be obliged to purchase an
increasing supply as compared with last
season.
That the excess of exports of American
cotton from the United States thus far this
wear are 655Gl0 bales over the exports lot
the same time last year. and that even al, al,
hitting a crop of 16.0t0 900 bales. there Will
be an exceedingly short supply In Ameri- r,si,,.
coming to light which ahundantly confirms
The truth of the proposition, in my opinion.
The New Orleans Cotton Exchange, In a
average weight of the bales Is six POUNDS
less than last year. This Is the equivalent OF
1gO1G1 of last years weight on crop VI
100000 Lightweight bales are never
characteristic of a big crop. Receipts are
daily becoming lighter and telegrams re-
ceivcd by me within the last twenty-four
hours from all counted points of accumula-
tior show that the weather has very iittie
to do with the light movement. II the
weather is sufficiently good to ship cotton
it seems absurd to say that 1t prevents its
delivery. Those who own the remnant OF
the years cotton have the situation In their
hands. 1t is worth more than present
prices and If present prices are declined,
higher prices can certainly be secured