The Savannah morning news., 1902-08-07
I2,OOO,OOODALE CROP
COL. GORDON Quotes ESTIMATES
OF COTTON MEN.
SENTIMENT STILL BEARISH.
BUT HE SEES NO INDICATIONS OF A
DECLINE VERY SOON.


the New York Exchange ON His
Return From Canada-Unless Con-
dttiOns Change Greatly He Looks
for Continued PrOsperity-COl.
GOrdon's Summer In Quebec Prov
ince.
Col. Beirne Gordon returned yester-
day after an absence of two months
spent pleasantly at North Hatley, on
Lake Massawhippie, in Quebec, Can
ada. The object of his trip was rest
and recreation, and Col. Gordon laid
business matters aside for the time
being. He promptly assumed the du-
ties of his positions in business and
finance, however, and during the day
was a visitor at the Savannah Cotton
Exchange.
Col. Gordon stopped over in New
York on his return trip and while
there learned something of the gen.
eral feeling as to the coming cotton
crop. The current belief among COM
mission people, he said, leans to a crop
of from 100000 to 100000 bales.
Until a short time ago sentiment was
Overwhelmingly bearish, and still con-.
tinues to lean that way, though some
large operators, and one in particular,
is reported to have come into the mar
ket lately as a large buyer.
II see nothing to indicate that cot
ton is to decline materially very soon,"
said Col. Gordon. THE statistical po-
sition is strong, the working surplus
is small, and trade conditions are such
that spinners will want cotton. In
fact, very large purchases have al
ready been made for August and Sep
TENDER delivery of the actual supplies,
which indicates that consumers want
cotton about as soon as they can get
it.
Then, too, it must be considered
that in the event the weather inter-
feres with or delays the delivery of
the large amount of cotton sold
scramble may follow that will impart
great strength to the situation. While
the crop in most sections seems to be
progressing well it is still far from
made, and there is the possibility that
weather conditions may yet seriously
affect production. However, if crop
of from 1000, 900 to 1000, 900 bales is
made, it is conservatively estimated
that owing to the present short sup
plies at least 10000 900 bales will be
required by consumers the coming sea-
son.
Il am pleased to hear that the crop
is doing well in Georgia, and the
Carolinas, which promise to produce
satisfactorily -
Col. Gordon discussed the general
outlook, and unless unforeseen wealth
er interferences appear he looks for
continued prosperity. 1t is true the
belief prevails that owing to the large
borrowings of Mr.. Morgan in his va
rious promotions, and the talked of
over-capitalization of corporations,
that a relapse is to come that will
bring on hardships among the people
until there is an adjustment. While
the money transactions of the past
two years in the United States have
exceeded any in the history of the
world, there is no reason for believing
that all the corporations concerned
may not prosper in view of the ex-
cellent crop conditions in this
country. In the Northwest grain is
reported in fine condition with the
prospects for a full yield, the corn crop
is to be among the best for years, and
cotton may be relied upon for a full
yleld. Big crops mean greater earning
capacity for American railways. a
stimulus to industries of all kinds, and
establishes confidence in financial cir
Giles and contributes to every other con-
dition going to make the country pros
porous.
North Hatley is one of the prettiest
spots in the province of Quebec. and
Col. Gordon derived much pleasure and
benefit from his trip. His fondness for
golf naturally asserted itself, and as a
result of constant work on the links
he returns slightly tanned. Much
pleasure is afforded there in fishing,
canoeing and other features of outdoor
entertainment Old families from the
East have been visiting the place for
years as a recluse affording every en-
joyment the heart wishes. Mrs. Cor
don and the remainder of the family
will be away until October.