The Montgomery advertiser., 1903-07-04
THE SUPPLY OF COTTON(
COLONEL sHEPPERsoN DOES
 NOT THINK IT SHORT.
Says There is Probably as Much in the World Now as There Was Year Ago, and $50, 900 More
 Than Three Years Ago.


 Baltimore, July s-(SpeciaL)- binder date of July 1st. Col. Alfred B. Shopper son of New York. the weli-known cotton statistical expert, writes The Manufac- turers' Record as follows:
 Tn the full belief that can say noth- ing which would especially interest the cotton trade. I will nevertheless respsAd to your request for a brief statement re- specting the cotton situation. Notwith- standing the great advance in cotton of over 3 cents per pound during the last four months, there is probably fully as much cotton in the world as year ago, and about s50.0OO bales more than three years ago. According to The New York Chronicle, the visible supply of cotton on July 26 was 214,0o0 bales less than on the corresponding date last year. The stocks of cotton in European mills of May 31st were estimated by MT. Thomas Ellison of Liverpool as 367, 600 bales in excess of the previous year.
 At this time the excess of the spin ners' stocks may not be as large as on May 31st, but 1t may be safely assumed that the figures presented confirm my opinion that the quantity of cotton in the mills and markets of the world and at sea is as great as a year ago. The distribution of the supply, however, Is
 
 less than last year. while the continental markets hold 102,0 more than a year ago. Continental mills at the end of May had on hand 243.000 bales in excess of the pre- vious year, while the excess of English mills was only 124;0O0 bales of which about one-half was Egyptian cotton. which is chiefly used for very fine yarns It is probable, therefore that desirable grades of cotton will be in fairly good Aox,a sx, begins to move in September. notwith- standing the fact that most of the Eng fish mills agreed on June IS to work only four days of each week. This action was taken chiefly in consequence of the high price of cotton.
 "A number of American mills are now running on short time from the same req son. and some have actually suspended operations. On February 20 middling cot ton was ten cents per pound in New York, and print cloths were three and a quarter cents per yard. Print cloths are now quoted at exactly the same price. while middling cotton was quoted here on June 26 at thirteen and sixty-one hun dredths cents, and at thirteen cents to- day. It Is perfectly evident that cotton at present prices cannot be manufactured into yarns and goods anywhere except at serious loss. It may be added that cot ton goods are very dull here and abroad. ''The great advance in cotton is largely speculative based upon the comparative ly small stocks, especially in England. and the backwardness of the new cotton crop. The size Of the growing crop will depend entirely upon weather conditions hereafter. The present lateness may be overcome, and as the acreage Is the largest ever planted and the use of fer tilizers more liberal than heretofore, 1t is | quite possible that a large crop may be grown. It Is idle to speculate upon the matter at this time, but 1t is well to re- member that some of our largest crops have been late ones.
 Tn considering the present supply oi l cotton In the world. 1t is well to recall l that, according to the figures of the New York Chronicle, the present visible sup. | ply of cotton Is 469,0O0 bales more than three years ago, while the spinners' stocks are about 100000 bales more. It Is scarce. | ly necessary to say that have no pecu. niary interest whatever in the market and that 1t Is now, as. always. my wish that the cotton growers should receive the fullest prce for their product that business conditions warrant"