The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-09-08
The Annual Report Issued by
Secretary Hester.
The Crop Of Nineteen Two and Three --Increase
of Mills in the ScuIh---Con-
tBy the Associated Press.)

SOhipdFeu Win last year, IN round
Texas, including Indian Territor
creased 10000 bales; the gro
ing of Louisiana, Arkansas
Tennessee, Oklahoma, Uta'
has increased $685. 900, ar
Atlantic States (Alabar
da, North Carolina, 8
lucky and Virginia)
He puts the avera.
OF this years crop at $44.
last year. and the total NdI
crop at $3.50, 1902 against $3.50,
last year.
In reference to the total value, M
Hester says that while-th crop as whole
brought a good return, notwithstanding
the high prices during the latter part of
the season, the out-turn has not been
as great as was expected. The total
value, carefully figured out. is in round
figures SAP 756, 600 above last year. This
year the range from September to jan
uary, average monthly values, was 1888
cents to SCI. the price of cents not be-
ing touched until February, when nearly
5000. 900 bales of the crop had been
marketed, the monthly average sales of
which were from $40 to a little over $it
per bale
Another important ere that affected
values was the long con aued rains which
reduced the grade of she Texas crop and
of the section tributsry to New Orleans
Mr.. Hester puts the average reduction oil
the grade of the crop from lie to 1-18.
Further referring to crop values, he
says, when it is considered that the
combined values OF the past three crops
resulted in payment to farmers, common
carriers merchants and other handlers of
80 M AI,o.,, 1Opfa a
great factor in the prosperity of the South
may be fully appreciated"
He puts the total spindes of the South
at S,24S,275, an increase over last year
OF 1885, 93 These include 1.1S4,245 in new
mills not yet completed. The net gain
in the number of Southern mills over
last year has been "a. making the total
now TAO. OF these $50 are in operation
80 are idle and 81 are in course of cree
ton.
The larger consumers have been Ala
bama 1904, an increase of 13, 1893; Geor-
gia, 425,699, an increase of 22.S2O; North
Carolina 551 SOP. an increase OF 1884;
South Carolina 619,275, decrease of 100;
Tennessee All, 500, a decrease of 1,417;
Virginia 42,04S, decrease of 1885.
Total consumption of the South 2,0OO,-
100 bales. an increase over last year of
62,75S.
In reference to the general manufac
turing industry of the country, Mr.. Hester
= says that notwithstanding the endless
discussion of stoppage of mills, short
time, and interference with consumption
by high prices, American mills have prec-
tically used every bale they could obtain
and the limit to their consumption h9s
been due to the scarcity of cotton. So
for ,illc Org fbpPp
has not been enough cotton to go around.
Most of the mills bought or contracted
for their supplies early, and as the rise
in price for raw cotton to nine cents and
above. did not take place until nearly
75 per cent of the crop had been market
ed, they were actually in excellent shape.
In the South from 1000 to 100000 bales
4 more would have been consumed had con-
ditions during the latter half of the sea-
son been normal as to supply and prlce,
and in spite of speculation at no time IN
the history of the staple, have values
been governed so thoroughly and com
pletely by supply and demand.
The details of the visible supply he says
show with startling clearness the reasons
for most of the short time and partial
stoppages of mills within the past few
months. At the close OF August 1907
there remained of American cotton Wis
ibIe i'm the United States in round fig.
ures but III 600 bales. in Great Britain
IT'S 900 and on the continent $4,000. to.
tai of 517. 900 with a late crop coming, OF
which only 800 bales were marketed in
August. against 81, 900 last year.
The total consumption of American
mills was 4,017 900 this year, against 3,9SS,
600 last year, an increase OF $4,000 bales
The use of foreign cotton by American
mills has decreased materially Thirteen
wears ago the North took 1871 per cent
and the South 1913 per cent. Today the
percentages are: North 49. IS, South 50.42
With the new spindles in course of cree
ton the capacity of the South should be-
nearly 2,36S, 900 bales.
One of the most interesting features o.
the report is the showing of the world
consumption of American cotton for the
past season, which he puts at 1O.S5s,OO'
bales, against 1867 900 last year, gam
of 100000
He quotes an eminent English author
Sty for the statement that the surplus
stocks in the mills of Europe at the close
of August, 1903, which 10000 bales
against $50 900 last year.
One of the most interesting features of thu
years cotton movement was the return
OF American cotton from abroad for de
livery during July and August on con
tracts entered into at New Orleans ant
New York
Mr. Hester shows that it amounted t.
1876 bales.
This is the first time in the history o
cotton that any considerable quantity o
American growth has ever been returned
to the United States from abroad.