The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-12-08

a FINAL WORD WITH
THE AMERICAN SPINNER.
NEW YORK. Dec. I. 1903.-At the close
OF last season wo advanced the belief
that tho American crop Of 1903 -'O4 would
( be inadequate to meet the demand. At the
beginning OF this season we reiterated
this same belief. which has been consist
emily and pcrslstcntly adhered to by w
to this day.
Now, after complete vindication by re-
liable and recognized authorities, In
Guiding the Census Bureau and tho
Bureau OF Statistics, as We interpret these
reports. we feel We Gun with propriety.
nnd, we hope, without offense. refer to our
frequent and urgent appeals to the Amer
lean Spinner made during tho past eight
months, TO BUY HIS COTTON, and
make one more appeal to the Same eff
feet. 81. tst 6
Theories are vain in the face Of the
conditions confronting the American spin
Sner to- day. The commercial crop Of tho
present season will fail to meet the de-.
mands of normal consumption, and re-
store the necessary equilibrium between
raw material and manufacture. BY8l.-
10000 TO $500 900 BALES. It Is. there
fore, idle to make the bare speculative
assertion that the government estimates
are too low. However comforting for tho
time being, such guess work may be,
it Is misleading and fraught with disaster
to the textile industry OF th1 country.
The care taken In preparing the gov
eminent reports, the ImpartalIty5 with
which information Is weighed, and tho
exceptional facilities afforded for the col. <
lection OF data are sufficient gnaranties Ut
their fairness and OF thelr.iaccurncy az
forecasts. The Census Bureau alone had
more than 60o paid canvassers mako Gin
10 Gin inspections Of their districts. The
Bureau Of Statistics had sources more
extensive and presumably as reliable.
Yet. without seeking to be pesslmistic.
we make this prediction: THE ES1'l-
MATTE OF 1862, 900 BALES MADE BY
THE BUREAU OF STATIsT1Cs IS TOO
HIGH By MANY THOUSANDS OF
BALES. 5a54 Ali
circumstances referred TO III our pro-
vIous circulars and others, that need
not be entered into here, point to this:
SO far as the criticism that tho estimate
Is too conservative Is concerned VIC be-
levc the Bureau would have regarded It
highly unwisc, in view Of the prevails
ing high prices, to have placed Its figures
ONE BALE below tho number its infor-
nation Justified.
word as to consumption. Last years
consumption OF American cotton was as
tImated by Mr.. Ellison at 10,S40.OW bales.
The actual apparent consumption was 49,
$4,000 bales, AND THIS IN THE FACE
OF CURTA1LMENT, AND In MANY,
GREAT BRITAIN, AND ON THE CON-
TINENT, ENTIRE SUSPENSION OF
MILLS DUE TO EXHAUSTED STOCKS
OF RAW COTTON. In October Just
passed., Mr.. Ellison estimated the worlds
requirements Of American cotton for this
season Mt 10S70,0OO bales. On N0vember
10th, when cotton reached II cents. he re-
vIsed this estimate and placed 1t at 10,-
100000 bales, predicting even still smaller
consumption In event of higher prices,
Here is our estimate on the consump-
ton OF American cotton: EVERY BALE
OF, AMERICAN COTTON THAT AMER
ICA CAN PRODUCE AND MORE,
It is not "a question OF lorlce or the num-
her Of bales, but how much the spnners
can get at any price g .l INK
The foreign spinner learned lesson
last year. and he has been buying his
cotton early. The American spinner has
held back for lower prices. Tho exportn-
tion OF cotton reveals a condition that
spells tremendous loss to American mills.
unless immediate steps are taken to
remedy 1t. Last year we had a larger
crop than this, and September movement
was tho grea test on record. This year
Will, smaller crop, and the movement a
month lato, 255.4G9. more bales had been
exported up to December 4th than Mt tho
same time last year, Last week 10000
more bales were sent abroad than IN tho
onrraapoudinp weak last wear At lon at
70 per cent, OF this years crop already
has been engaged for export. II tho
foreign mills are to get their cotton at
lower prices 1t means that tho American
| spinners will be undersold and driven out
| OF the markets, both mt homo and abroad.
Therefore, wo say to the American spin
ner will you continue to lot tho foreigner
get his cotton at low prices, while you
take the remainder mt any figure ut which
YOU can buy It? HIGH AS COTTON IS.
| COTTON IS STILL TOO LOW, The COM
merclal crop OF 1o03-'0i means the cotton
grown and picked In those years. There
Is no surplus or Invisible supply to fall
| back on.
THE price at which you can buy fu-
| lures to-day will be chear In "a few
| months. Unless you enter tho market Mt
once and anticipate your requirements you
| will he compelled to close. CuRTAlL-
MENT WILL NOT BE ON SHORT
| TIME. 1T WILL BID ABSOLUTE,
| II is useless to predict what YOU will
have to pay II you walt. What does fiji
teen, sixteen. twenty, even twenty five
cents pound mean when YOU CANNOT
GET THE COTTON,
is too late.
DANIEL. j. suLI.Y 8: COMPANY. y
/