The Montgomery advertiser., 1903-09-05
SOUTHERN PROGRESS
REVIEW BY THE MANUFACT
 URERS RECORD.
Col. Aired B. shepperson the Well Known Statistician, Writes of Cotton Spinning in Eur
 ope-Some Lost Money.

Baltimore. Sept. 4.--(Special. .l-Col. Alfred B.. Shepperson. the well known New. York cotton. statistician who has Important centers CT e of the i % cotton trade in Germany. France and Belgium, writes from England to The Manufacturers Re-
 The cotton manufacturers of the coun- tries named have done a fairly active business during the past season. but. talk little money. Considerably more cotton has been spun into yarns than the pre- vious season. but often at a very small prof profit and and sometimes % at loss The spin November and December. when prices were on the basis of 1-2 to 43-4 pence for middling uplandg. have had a remu- at prices ranging from 5 1-4 pence to nearly pence have made no profits. and those who sold their product ahead on did) have scored serious losses!
 "As a result of the high price of cotton many of the continental mills have not but short time has not prevailed to any thing like the same extent as fin Eng land. most of the mills having run i've to five and and one,half H., days day in the week. of the British mills German spinners are in far better shape than year ago, as the large stocks of yarns and goods then depression resulting from such a condi- tion has been removed. While their stocks of cotton are quite moderate, last year Many of the French spinncrs bought cotton freely in the early part of the season, and have done 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 suf- ficientt for their requirements to the mid tically no stocks and are buying, as 1t were, from hand to mouth. My impros- sion is that the stock of cotton held by the French spinners is less than year ago. In Belgium much the same condi- tions exist as m France. but think the spinners hold about as much cotton an at this time last year. The French spinners have, on the average. done better than those of Germany and Belgium. The spindle capacity of the three countries Italy there has been an increase of about 1,200O GOO spindles, but there will not be a corresponding increase in consumption of cotton. It has been the custom in Italy night. there being. operatives for the night work in addition to those for the feet prohibiting the night work. and this has caused the erection of additional spindles to able the mills to do the same amount of work in the day which was formerly done during the day and night. This explanation 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 very moderate busi- ness.
 Tn consequence of the high prices which have been ruling in the United States considerable cotton has been shipped from Europe to New York and New Orleans since July 1. Shipments have been made from Liverpool, Havre, Bremens Trieste and perhaps from other ports. 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 artificiality of the prices which have been ruling in the United States for sew eral months as a result of speculative manipulation In New Orleans and New York; The RElce1 1oe American 1ottaR &oE