The age-herald., 1902-02-07
I. H. PRICE DENIES
 BEAR|SH RUMORS
Feels Confident That Price of
 Cotton Will Advance
GIVES SEVERAL REASONS
Says the Crop Is Only About e,5oo,ooo Bales of Last Years Weight and That the Supply Will Be
 Wholly Inadequate.

New York, February 6.-(Special)-It the past few days, report has been in- dustriously circulated that notwithstand- ing my widely published crop circular of January 25 and the views therein express ed. l have changed my opinion with re- gard to the size Of the crop, and the course of the market. Were 1t not for the implication of insincerity involved inquiries received from many friends im- pei me at the risk of seeming somewhat egotistical to deny them most emphatical- ly.
 As the season develops and the move ment of crop progresses, the probability that higher prices will be realized for cotton becomes in my judgment more and more of certainty. The following propositions I hold to be self evident:
 First-That this years crop of Ameri- can cotton has moved more rapidly than has any crop for many previous seasons.
 Second-That the light receipts at pres ent are due to comparative exhaustion of unseen supplies.
 Third-That the crop Is only about g. 50O,0O0 bales of last years weight and that this supply will be wholly inadequate for the worlds requirements at the present rate of consumption.
 Fourth-That despite interested reports to the contrary, trade in Europe is rapid ly expanding. the causes which make for e,in paio haiy fha of the Chinese markets; the termination of the famine in India; the imminent settle ment of the South African war and the industrial improvement in Germany.
 Fifth-That all reliable sources of in formation with regard to the condition of American manufacturing trade abundant ly attests the fact that the mills are fully employed and will require sufficient cot ton to keep every spindle going unless the market advances to a prohibitive price; and that misled by overestimates of the crop, American spinners have not as yet secured as 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 com pared with last season.
 Sixth--That the excess of exports of American cotton from the United States thus far this year are 653.0O0, bales over the exports for the same time last year. and that even admitting a crop of 10000 900 bales, there will be an exceedingly short supply in America during the sum mer. Evidence is daily coming to light which abundantly confirms the truth of the proposition. in my opinion.
 The New Orleans Cotton Exchange, in a report published yesterday. shows that the average weight of the bales Is six pounds less than last year. This is the equivalent of 10000 bales of last year s weight on crop of 100000. Light weight bales are never characteristic of a big crop. Receipts are daily becoming lighter, and telegrams received by me within the past twenty-four hours from all counted points of accumulation show that the weather has very little to do with the light movement. Shipments from the interior towns, even the small est of them. are heavy. If the weather is sufficiently good to ship cotton. 1t seems absurd to say that 1t prevents It's delivery Those who own the remnant of this years cotton crop have the situa- tion in their hands. It is worth more than present prices. and if present prices are declined higher prices can certainly be secured.