The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-09-04
The COTTON.
BUSINESS
There Has Been FairlyActive
Season Abroad. !.
EEFEGT. OF HIGH PRICES.
EFFECT OF HIGH / Fl PRICES q s:
Many Mills Have Had to Work Short
Time-Those Who Bought at Low
Price Realized Heavy Profits.
AZ Cement In the South.


l q 4 Z y y
Especial to The Times Dispa tch.)
BALTIMORE, September 3.--Colonel AL
fred 3. sheppcrson. the we'll known New
York cotton statlstican. who has spent
several weeks In Europe visiting impor-
tnnt centcrs OF the cotton trade IN Ger
many, France and Belgium, writes from
England to the Manufacturers Record as
follows:
"The cotton manufacturers Of the
countries named have dono q fairly active
business during the past season, but,
taking them as a whole, have made very
little money Considerably more cotton
has been spun into yarns than the pre-
vious season. but often at very small
profit, and sometimes at a loss, The spin
nefs who bought freely during October,
November and December when prices
we're on the basis OF 4 1-2 to 43-4 pence for
m,ddling uplands. have had amuenrn-
tive sea son, while those who bought ut
prices ranging from 5l-4 pence TO nearly
w pencc have made no profits. and those
who sold their product ahead on the basis
OF lower priced cotton Gas many did nave
scored serious losses.
AS a result OF the high price cotton
many OF the continental mills have not
worked on full time since early IN June,
but short time has not prevailed to any
thing like the same extent as IN Eng-
land, most OF the mills having been run
five TO five and one half days In the
week. against four days In the week IN
many OF the British mills.
IN GERMAN NY. II
German spinners are in far better shape
than a year ago. as the large stocks OF
yarns and goods then existing have been
disposed o. and the depression resulting
from such n condition has been removed.
While their stocks OF cotton are quite
moderate, think they are larger than
atSthsItime last year. s,
| Many or the French spinners bought
cotton freely In the early part OF the
season and have dono well. Those who
bought sparingly in the hope OF still
| lower prices have paid the penalty for
their conservatism. Some OF the French
| spinners have cotton sufficient for their
| requirements to the middle OF October,
| while others have practically no stocks
| and are buying, as 1t were. from hand
| to mouth My impression Is that the stock
| OF cotton held BY tho French spinncrs is
| loss than n year ago.
| Tin Belgium much the same conditions
exist as In France, but think the spin
nors hold about as much cotton as at this
| time last year. Tho French sp!nners
have, on the average. done better than
those OF Germany and Belgium, The spin
die capacity OF the three countries differs
but little from last year. In Italy there
| has been an increase Of about 100000
| spindcs, but there will not be cores
ponding increase In the consum pt!on OF
| cotton.
1T has been the custom In Italy for the
| mills to be regularly opera ted at night,
| there being operatives for the night work
| in addition to those for the day time. a
new law will soon go into effect pro-
| hibitng the night work, and this has
caused the erection OF additional spindles
to enable tho mills To do the same amount
OF work In the day which was formerly
done during the day and night This ex-
panation Is made because an Increase OF
spindles usually indicates larger business
| and greater prosperity. In point of fact
the Italian spinners have been doing only
| a very moderate business.
SHIPPED FROM EUROPE.
IN consequence OF me high prices
| which have been ruling In the United
States considerable cotton has been ship
ped from Europe to New York. and New
Orleans since July LIST, Shipments hnvo
been made from Liverpool, Havre. Bro
men, Trieste and perhaps from other
| rorts, About 5000 bales are now on the
way from Bremen. In previous years
some cotton has been sent from Europe
to the United States but never to any
| thing like the extent of the shipments
OF this year. These shipments emphasize
the artiflcIaity OF the prices which have
been ruling In the United States for sew
| oral months MS result Of speculative
manipulation In New Orleans and New
York, The price OF American cotton for
many weeks has borne no relation to the
price OF cotton yarns and goods In this
connection will mention that European
splnners have used a great deal OF East
indian cotton in place Of American coi-
ton, and in some instances at saving
Of fully cont q pound for similar
grades OF cotton.
"The high prices for American cotton
viii stimulate the production Of cotton
| in every part of the world where y can
! DO grown to advantage, and VIII surely
| Induce more careful cultivation and prep
aratIon OF the india crop, The world
needs good-sized yield OF. American
cotton from the crop now growing, pvt q
large crop now (Which ls quite posslple),
! II followed by another large crop, would
| probably cause decline to unretn uhcra'
| tive prices =
! PORTLAND CEMENT.
| In this weeks Issue of the Mnnutac-
lurera Record Mr., Charles Catlett, g
leading authority and expert on cement
and other mineral interests Of the South
referring to an investigation which mas
been undertaken by the United states
the country for Portland cement, sayl
that 1t behooves the individuals as well
ms the States OF the South TO see to IT
i that tho fullest and most accurate infor-
nation available should be promptly &c
| cured and placed at tho disposal OF me
/ the effort Mr.. Catlett notes the In
creas,ng use Of Portland cement as q
substitute or a supplement for iron ans
timber In building operations, shows tha
Tho production OF cement was greater Y
1909 than the entire iron production ol
llSS2. and says: lalg, A.,
tWenty-eight lbld In ten years, and ~