The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-09-03
Talking About Cotton.

Within month cotton will be coming
into the market in large quantities. and
it is patent that either the whole cotton
market must collapse between now and
then or else the cotton raisers will get
the benefit of existing high prices. 1t
is evident from the conduct of the market
that very few of the best posted men in
the trade believe that a great crash in
cotton prices is imminent, and every day
and every hour it becomes more and
more apparent that the men who raise
the cotton are going to profit very large
ly by the advance in the price Of the
great Southern staple. Men whose opin-
ions command respect give it as their
best judgment that the growers will re
ceive so per cent more for their cotton
this year than they did last, so that even
if the crop is a short one, as it seems
likely to be, it will bring more wealth
and prosperity to the South than any
crop for many years, or perhaps than
any crop in the history of cotton rails
ing.-New York Commercial.
j. H. Parker & Co., who have handled
part of their business, figure a profit of
seven million dollars for the Brown syn
dicate. They say that the New Orleans
bull clique has sold the greater part of
its spot cotton at from 13 to Is IA cents
for midding and there should be no diff
ficulty in placing the rest without much
concession. Parker & Co. argues a profit
of SIS a bale on the clique's spot cotton,
amounting to $4,50O,00O, and profits
enough on settlements of contracts to
bring the total up to $7,O00,000.
1t seems more than likely that the
present high price of cotton will eff
feet radical and permanent change in
the cotton situation Of the world. The
fact is becoming more generally recog
nized that the current high price for
the staple is in the main due to natural
conditions, though of course the specula-
tive efforts of audacious market operators
have not been without their effect on quo-
tations The talk about corner in cotton
has some foundation in fact, but when.
one plunges below the surface it is APP
parent that the existing situation is due
principally to the fact that the COM
modify has cornered itself. The manipu-
lative clique have simply forestalled the
actual consumers, and have brought to
head somewhat more quickly than would
otherwise have been the case a state of
affairs that was actually inherent In the
situation. The fact is, the use Of cotton
for manufacturing purposes has out.
stripped the supply, and it was perfectly
natural that it should have done So
American Wool and Cotton Reporter.
The Brown, the bull leader, denies that
his syndicate has injured the manufac-
turing industry and says;
'They say the effect of my operations
has been to close the mills, and throw
people out of employment. Let us see it
that is the case 1 took from the mills
which had a surplus of cotton, their sur,
plus. / paid the price for 1T, and | got
it. | suppose every one will acknowledge
that. I took this cotton and sold 1T to. the
mills that had to have cotton. Is that
forcing mills to close down?
There was a cotton famine. ! did not
cause that but I think | have brought
to light about all the cotton there is in
the world. and the mills are buying it
from me right along, and keeping on run
ning.
"There was not enough cotton IN the
world to keep them all running all year
that was all If last years crop had
been 10000 900 bales or more there would
have been little surplus.