The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-07-07
Such a Policy Would Make
Cotton Producers Abso-
lutely FinancialIyln-
dependent.
AFTER The GAMBLERS
Men are Annually colHing Millions Of Dollars
Out Of the Product Of the
Sou'h's Great Money
cfanla
ATLANTA Journal.)

(Atlanta Journal
In less than sixty days new cotton from
the crop of 1908 will begin to move from
the fields to the ginnery, and from there
to local markets. The crop is generally
conceded to be at least three weeks late,
and the plants are quite small in most
sections of the belt for this period of the
year. Along the southern section of the
belt the cotton plant is taking on small
percentage of June crop of squares and
blooms. There cannot, however, be any
thing like an early movement of the
crop this year as compared with that of
last year. The plants are yet small, many
fields grassy IN the old States east of the
Mississippi, while the boil weevil and 9TH
er insects are becoming an important
source Of danger to the crop in the south
western and northern sections OF Texas.
The outlook Tor the crop at the present
time is anything but promising.
It win certainly be matter of impos-
sibility to grow and mature full crop
in view Of the backward spring and late
ness in securing good stands. and inabili-
ty to work and push the crop during the
carly stages of its growth The acreage
over the whole belt has been increased
about per cent, over that of last year,
making an estimated acreage of total
of 2S.000,000 acres for 1908. Perfect
stands, with early planting, favorable sea-
sons and with an abundance of labor to
work the crop might yield an output of
12000.000 bales. But none Of these COP
ditions have prevailed so far, on the con-
tfary the irregularity of stands, late
planting and an absence of labor, togeth-
er with unfavorable climatic conditions
to date. are all important factors tend
ing to curtail rather than increase an
average normal yield.
We may, therefore, unless the unforg
seen should happen, look forward to only
a medium sized crop, something like ten
to ten and a half million bales With the
most favorable climatic conditions from
now on this estimate is not likely to be
exceeded. while the critical stages of the
crop during the months of July and Au-
gust are yet to be gone through with.
High waters and excessive overflows along
the great deltas of the Mississippi and
others rivers in the southwest have rem
dered many thousands of acres of rich
farm lands practically useless in the pro-
fair and temperate statement of the pres
cnt condition of the cotton crop
throughout the territory of the South
Every cotton producer interested in main
tanning good prices for the staple should
keep himself posted from now on rela-
tive to the condition of the crop and then
exercise wisdom and proper business
Judgment in selling his crop.
SUPPLY OF OLD COTTON.
We have outlined the present condition
oil the crop from information obtained
through the most reliable statistics gath
cred up to the last week in June. There
ere always two important factors which
give value to any kind of Ilroduct, and
those are supply and demand. The de-
mand for raw cotton by the mills, which
nted the staple for spinning purposes, is
regulated more or less by the demand of
the trade for cotton goods and the gen
eral financial ability of the people, both
at home and abroad to buy and use the
material made out of cotton for clothing
and other purposes. A constant, and
active demand for cotton by the mills is
based upon the fact that the trade in cot
ton goods in the first place is active, and
that the supply of the raw staple in the
second place is short. Both of these con-
ditions now prevail to an abnormal ex-
tent throughout the cotton spinning cen
ttrs Of the world.
For many years past there has been pro-
duced enough, and more than enough,
raw cotton to meet the demands of the
mills, so much so that there has been a
surplus of cotton carried over each year
beyond the needs of the mills. In 1898
the crop yielded surplus OF fully 1,500,-
600 bales more than the spinners could
utilize in 1899. Since that time, how
ever, production has been more or less
curtailed each year from various causes,
thereby reducing the surplus each year
through the annual increase in the con-
sumption of cotton goods estimated at
about 100000 bales each year. The sur
plus of raw cotton was practically ex-
hausted during the year 1902. While the
crop OF last year, consisting OF 10600,000
bale. would have been far in excess of
the needs of the mills that were in oper-
alton in 1898, and the demand for cotton
goods by the trade at that time we now
find that it was not enough to meet ex-
isting demands, owing to the annual in
crease in spindles and the wider and more
extensive trade in American cotton goods.
We find, therefore, that in less than ten
months after the opening of the cotton
season of 1902, that not only has the en-
tire surplus carried over from the year
1901 been exhausted, but practically the
entire crop of 1902. This, too, in view of
the fact that a large number OF mills
have either shut down entirely some
months ago, or have curtailed their busl-
ness so per cent, owing entirely to the
great scarcity of spot cotton and their In
ability from that cause to operate on
full time There is now no cotton on
hand ft for spinning purposes which can
be bought. That class of spectators who
have sold short in the markets, guaran