The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-09-08
HESTERS ANNUAL REPORT
CROP DID NOT BRING AS HIGH
VALUE AS EXPECTED.
shows Increase-American Cotton
Was Returned from ABROAD for De-
Iivery-Features of the Report.


Hester's annual New Orleans cotton
exchange report was issued in full to-
day. He puts the cotton crop of 1902
03 at 10. I21. $50 bales, an increase of 49,
S79 over that Of 19O1-02. He says that
compared with last year, in round fig
ures. Texas, including Indian Territory.
has decreased 162, 600 bales; the group
consisting of Louisiana, Arkansas, Mis-
sissippi. Tennessee, Oklahoma, Utah
and Kansas. has increased 1863, 900, and
the group of Atlantic States alabama,
Georgia, Florida. North Carolina. South
Carolina. Kentucky and Eirginia) has
fallen off IA, 600.
He puts the average commercial
against S41.O1 last year and the total
value of the crop at $3.50. 40, 2S2 against
$438, Ola. 687 last year.
In reference to the total value, Mr..
Hester says that while the crop as a
whole brought a good return nOtwith-
standing the high prices during the lat
ter part of the season. the Out-turn has
not been as great as was expected. The
total value carefully inquired out is in
round figures S42, $4,000 above last year.
This year the range from September to
January. average monthly values. was
1888 cents to SCI, the price of 9 cents
not being touched until February. when
nearly S.0OO,O0O bales of the crop had
been marketed. the monthly average
sales of which were from $40 to a little
over $44 per bale.
Another important feature tina af-
fected values was the long continued
rains which reduced the grade of the
Texas crop II of the section tribu-
tary to New Orleans. Mr.. Hester puts
the average reduction of the grade of
the crop from lie to lis.
Further referring to crop values, he
says " when it is considered that the
combined alu of the nast three crops
resulted in payment to farmers. COM
mon carriers merchants and other
handlers of over Slab. 900. 900 their inn
portance as the great factor in the
prosperity of the south may be fully
appreciated"
He puts the total spindles of the
south at S.24S,2I5. an increase over last
year OF 1929. These include 1.1S4, 245
in new mills not yet completed. h
net gain in the number of Southern
mills Over last year has been "a. max
ing the total now 40. OF these $50 are
in operation. 80 are idle and 81 are in
coure of erection.
The larger have been Ala
bama 211 .S04. an increase of Is. 1893; Geo
gia 425. 500. an increase of 22,S2O: North
Carolina 551. S02 and increase of 22,314;
South Carolina 1925 a decrease Of 100:
Tennessee Al. 500 a decrease of 1,417;
Virginia AZ, 04S a decrease of 1885.
The total consumption of the south
2.OO0.729 bales, an increase over last
year of g., 1853.
In reference to the general manufac-
turing industry of the country. Mr..
Hester says thai Notwithstanding the
endless discussion of sfoppage of mills,
short time, and in reference with con-
sumption by high prices, American
mills have practically used every bale
they could obtain and the limit to their
consumption has been due to the scar
city Of cotton. So far as domestic
mills are concerned there has not been
enough cotton to go around. Most of
the mills bOugh or contracted for their
supplies early and as the rise in price
for raw cotton to min cents and above
did not take place until nearly 10 per
cent. of the crop had been marketed,
they were actually in excellent shape.
In the south from 100, 900 to $50, 900 bales
more would nave been consumed had
conditions during the latter half of the
season been normal as to supply and
price, n in spite of speculation at no
time in the history OF the staple. have
values been governed so thoroughly
and completely by supply and demand.
The details of the visible supply he
"a show with startling ClearneSs
the reasons for most OF the short time
and partial StOppage of mills within
the past few months. At the close of
August. 1902. there remained of Ameri-
can cotton visible in the United States
in round figures but III, 900 bales in
Great Britain 11S.O00 and on the con-
tinent 153, 900. 4 total of 51I 900 with a
late crop coming. of which only 1900
bales were marked in August, against
81, 900 last year.
The total consumption of American
mills vas 4.017 900 this year, against
> 1888 coo last wear an increase of % 600
bales.
The use of foreign cotton by Ameri-
can mills has decreased materially.
Thirteen years ago the North took 1911
per cent. and the South 23.3 per cent.
Today the percentage are north 1853;
south 50.42-
With the new spindles in course Of
erection, the capacity of the south
should be nearly 2,36S.0O bales.
One of the most interesting features
of the report is the showing of the
worlds consumption of American cot
ton for the past season which is put at
10,S59. 900 bales against 10. 651 900 last
emminent English authority for the
statement that the surplus stocks in
the mills of Europe at the close of Au-
gust. 1908. was 10000 bales against
T57 900 last year.
One of the most interesting features
of the years cotton movement was the
return of American cotton from abroad
for delivery during July and August on
contracts entered into At New Orleans
and New York Mr.. Hester shows that
it amounted to 42.316 bales.
This is the first time IN the history OF
cotton that any considerable quantity
of American growth has ever been re-
turned to the United States from
abroad.