The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1903-12-08
COTTON IN rHE CLOUDS.

the New York exchange
The scene ia the pit" where the
excited brokers shouted themselves
into exhaustion in their mad efforts to
buy the staple. was indescrbable.
Never before, perhaps, in the history
of the exchange. ild the market ad-
vance so rapidly.
The immediate cause was the read
ing Of the government crop bureau
estimate, which placed the crop at
9.962. 900 bales. Traders realized that
this amount would not be sufficient to
meet the demands of the market and
fiantlcally bid up the price.
What does it mean--this phenom-
email uprush in the price Of raw cot
ton?
Are we to look for a continued ad-
vanceg Is Is cents TO be the limit?
or is the price as predicted by excit-
ed brokers. to go to 25 cents before
the movement is checked?
We had just as well speak plainly
about this matter There is a cotton
famine II is not severe; but it exists
Ii Is a physical fact, not a speculative
Illusion How long this famine will
last, or to what extent lt win go no
..uan can say. But there are certain
Motors in the causation OF this short
aee that ought not to be overlooked.
There are two agencies which now
overshadow tae cotton belt, ana which
menace the production of the staple
throughout the entire south. 1t is the
incepdve work of these agencies that
has caused the present shortage; anS
in the m set OF our rejoicing over the
high price of the staple. we should
not forget to consider the brambles
which surr nd the golden blossom
of this season prosperity.
The first OF these destructive agen-
cies is the Mexican boil weevil. All
though il is difficult to reduce to fig
ures the damage caused by the weevil,
Calculations made in the division of
entomology of the United States de-
partment of agriculture based upon
statements showing the production Of
cotton in en- leading counties in
Texas. when the boil weevil was alb
sent and when it was present, and
showing the increase in ten other
counties when the weevil was absent
at both similar periods. appear to
justify the estimate that the total dam
age caused by the insect is about so
per cent. Upon that basis the Texas
planters have suffered a loss of $15,
000,00 the present season. and this
estimate. It is stated, agrees with
those Of conservative cotton statistl-
clans. AS the normal cotton crop Of
the United States is estimated to rep
resent value of s5OO,0OO,OOO, the
probable ultimate damage. when the
pest has become spread over the en-
tire cotton belt providing nothing
were done to check It, would be in
the neighborhood of s250,OoO,OOo an
nually
Unless some method IS found for
checking the ravages Of this para
site. the entire cotton belt win be laid
waste as by destroying army
Another menace, scarcely less serl-
Gus. is the gradual sterilization Of the
cotton seed-the result of the rapid
expansion of the cotton seed oil in.
dustry with its attendant extreme
competition for seed, both as to quail
ity and quantity, and the Wen known
practice Of the average cotton grower
in disposng Of his best seed, resery-
ing the inferior for planting Presi.
dent George A. Morrison of the Amer
lean Cotton OH Co., says in his an.
nual report that this state Of affairs
has beyond a reasonable doubt. caus
ed a sterllized seed. which ia turn has
manifested itself In a less hardy and
vigorous plant, bearing shorter sta
pie 81 less tensile strength, generally
showing ~ to is pen cent less in pro
ducing power than obtained before the
days OF tho OH mill and altoge her
contributing TO a limit in the yield in
the aggregate. regardless Of the acre
age"
The situation Is not to be lightly
trea .ed. Whatever the course Of the
miwket-anl 1t is bounl to be very
irregular during the next month
these grave problems continue 10 de-
manj the most thoughtful atten ion.
A contributor TO the Liverpool Journal
OF Commerce sounded a timely warn
ing not only to British but to Ameri-
can interests when he wrote:
a /.