The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-12-01
NOTES on rae COTTON SITUATION.

anX1ously awaiting the Government crop report 70
be issued Thursday of this week. Meanwhile there
is much interest in the estimates prepared by the
prominent cotton houses of New York and Lon
don. A summary of these is given in the follow
ing New York dispatch:
NELL Brothers, of Liverpool, who are famous
as cotton crop estimaters, to-day published their
November circular in which they gave their con-
solidated crop estimate of their three American
authorities at L ,1OO,OOO bales and their own esti-
mate at 100000 to 100000 bales. These do
not include any estimate by Henry M. Neil, the
New Orleans representative of Neil Brothers. On
Monday Latham, Alexander & Co., of this city,
estimated the 10000 cotton crop at 100000
bales, and on Tuesday J. II. Parker & Co., esti-
mated the crop at 1O,648,OOO bales. Still another
estimate-1O,75 1000 bales-was made to-day by j.
M. Aver & Co. Perhaps the most interesting cot
ton crop estimate of all, however, was the an
nouncement to-day representing the annual can
yass of Seidenburg & Co., members of the New
York Cotton Exchange. 1t resulted in an average
crop estimate of 1O,724,OOO bales. The average
estimate last year was 11yO76,O 600 bales"
In Europe the cotton crisis is even more acute
than here. Nearly every day some article in the
Consular Reports, which The Progressive Farmer
receives daily from the Secretary of State at
Washington, directs attention to the seriously
deranged condition of the industry in Europe.
Here, for example, is a report from Consul James
Boyle, at Liverpool, received and published last
week by the Department of State:
"There is an accommodating irritation and even
bitterness in all foreign consuming countries, and
particularly in England, at what is termed the
'cornering' of American cotton, such as has been
going on recently. This year trade has been dis
organized, thousands, of operatives have had to
work short time, and some mills have had to shut
down altogether, and as a consequence there has
been and is now very much suffering, especially
in the Lancashire district. So great is the pres
ent distress in this county that public soup kitch-
ems have had to be established, and the uncer-
tain condition of the market has recently caused
several serious failures in Liverpool. The deDres-
sion has been almost unprecei ented-perhaps ex-
ceeded only by the dreadful period during the
American Civil War. It may be doubted, how
ever, whether the cornering is RESPONSIBLE so much
as charged for the famine in cotton in Lanshire.
The real cause, it is pointed out, is the consump-
ton overtaking the supply, consequent on the par
tial failure of last years crop. The significant
growth of the new imperial eminent among
the British people has led to the desire to produce
within the Empire, as much as possible, the things
the Empire consumes. There is now a widespread
and profound belief among the cotton spinners
of this country that the only salvation of their
trade is British-grown cotton. By this it is not
meant that British-grown cotton will, at least
within anything like the near future, altogether
take the place of American-grown cotton. The
hope and expectation is that the British product
will be supplemental to the supply drawn from the
United States"
From Germany comes a similar report. Consul
Muench, at Plauen, Germany, is thus quoted by
the Department of State:
"The fuctuation of the American cotton mar