The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-14
Leads all North Carolina Dailies i'm News an Circulation

tity during January, we shall have in
sight on the first of February out of this
years crop, 10000.
The figures above the total crop show
The percentage of the crop in sight up to
February 1st for each year. 1t appears
that the movement last year was the
sloWest on record, while that OF 1889-90
was the most rapid on record II also ap-
pears that in 1S9495, when we had a crop
of only 5000, 900 there was at the end OF
anuary nearly 100000 bales more in sight
than they will at the end OF January this
year, and that heavy January movements
are not infrequently found in the case of
exceptionally small crops. Figuring upon
the percentages given it appears that If
the movement of fhis has been as fast
as the fastest Of the past fourteen years,
the total production Is only $3.50, 600 bales.
II it it is as slow as the slowest I. c.
that of last year the crop is 10, ,400, coo, If
it has moved with the average rapidity
Of the last fourteen years, the crop is
9G56,000. l believe that the movement
this year, especially since the first of
January has been one OF exceptional rap
i0ity and l cannot therefore. see any
reason to doubt the substantial accuracy
Of Messrs. r. Wilson & Co. g figures.
My reasons for believing in the rapid
movement of the crop are able stated in a
circular from the gulf ports trading COM
panies of Galveston Texas, of January
9Th, who estimated The crop nearly two
months ago at 9,76i,000 and which l
herewith quote in full:
Gentlemen-Owing TO the numerous
enquiries addressed TO us as to whether
We upheld our estimate on the yield of
this seasons crop in the face OF the heavy
receipts up to the end of the year, we
addressed circular inquiry to almost all
OF the oil mills in the entire cotton belt
To this circular we have so far received
more than one hundred and fifty answers
and we summarize their contents as fol-
lows: THE farmers have sold and moved
their cotton this year much more literally
than in past years, Far less cotton is
held by the producer now than last year
at this time. The general tendency among
the farmers all throughout the cotton
belt was sell almost as fast as harvested
and ginned.
The same conditions prevail, as we
specially mention in Mississippi and Tex
as, but reports from some sections of
Mississippi show that there is still some
little cotton in the fields, part Of which |
will not be picked on account of bard
weather. be reports from Texas show
that the amount in farmers hands is in
finally smaller than in past years. Num-
Der of reports give the following rea-
sons fer the fast movement of the crop |
and the fact that far4iass cotton is held |
than last year:
/. TIE weather all during the fail has
bee very favoraorble for havestlng and /
marketing
2. Owing to the very small movement !
in grain, cotton seed meal and cake, !
the transportation facilities for cotton (
have been far greater than in past years. |
In only the State of Mississippi was a |
scarcity of cars experienced at times
s. Many farmers and merchants who /
held cotton last year for ten cents were |
sadly disappointed. And had to take |
about seven cents for their cotton. With !
this experience behind them they sold |
heir cotton this year as fast as possi- |
bic.
4. For the reasons mentioned under /
No. g. the merchants and bankers gener- |
ally pushed the farmers to sell and mar
ket as fast as harvested.
5. In some States there was a disposi- |
ton observed TO hold cotton to some de-
gree until the United States Agricultural |
Bureau report was issued on December !
3rd. Upon the subsequent advance in the !
lrice OF cotton same was rushed 10 mar !
ket by the farmers as never before.
6. In a number OF States, and especially !
so in Texas, the farmer had TO pay
enormously high prices for feed, corn de- |
livered III Texas interior towns cost about |
one dollar per oushel, and to NEE his re-
quirements IN this regard, and also his
obligation generally becoming due Octo-
Der 1st and January fst, had had 10 sell |
his cotton and Folding" was out Of the |
question.
Z. Oceon freights have been this year
the lowest for perhaps ten years, which |
had a tendency on the part of exporters
to rush the cotton TO the export PLACES
as fast as possible so as to avail them
selves of these low rates This ten
dency was particularly conspicuous in the |
fast months OF the new season. Accord
ing to the general tenor of the reports, as
above mentioned and for all the reason
sstated we do not see any cause what.
ever TO change our estimate of the 1901
1902 cotton crop. which was 9,764 900 ]
tales.' In view OF the foregoing can
rot see any reason to believe that the
present crop can substantially exceed |
Messrs. Wilson & Co.'S estimate and with
such a supply of cotton extreme prices
for the article arc inevitable later on in
the season.
THEODORE H. PRICE.
1