The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-12-29
COZ ON. y

Nov *, 4 s. K December % - otton; 81 \
haliavas Ills sea son s crop f.. q n3erlcAll
cotton to be 49, 600 bales or over, lhe
cers,,s returns show that IN to me me slstll
of ecor,ber, 7B7 co ton prodsuo ooHll-
Ties IN the South had ginned gown we
two round bales as the e a y e -
ono square bale s4s lls bales q Go,.
ton. The census ~ ~
states that l5 tho 8.rcmaln unre pQrteu
counties had glnned this season prlo'E V
'Novem5er Ia 1904, S9,2G1 bales, co lntiallss
round & bales as half bales III Us.
5ss * very conservative est Innate 81 s tn2
total quantity hey have glnned u th $
san snn m 70 December 1stli, is q 0o COG
IN ia az which basis I estimate. there
fore thnt Ill tile counties IN the cotton q 1
b.t nae ginped up to the latt y y 81 Pc
cember this year i ,94silllSS Or pract'ta'!y
IL 600 900 bules; TO this must ,t auaeu
tho cotton, picked and unpi kcd, put shot
glnncd on December y: . LlsE sea %.
there wore glnned Flor tatsa.
! '32i Ss5 bales and tho season be ore 4ast
4 7a5 44os bales believe that much more
remains to be g!nned this year than u
elther Of the two previous season 81 he' &c
nv ate Of 49, 900 ba les or more
The theory that this amount VIII not ~.
81 mnrketed Is Of no Importance. Cottol
liz crown to BIO sold and IT vi Hol 90
DESTROYED, 1t will shortly po recogn - 20
that tho crop Is not to pc feckohea Spy
mort rcceipts and tho stocks at thlrtyI ~.
arbitrarily selected interior towns. ky w
cotton SO coming into sis ny ~ tot NY
most mart sold and ls not q fnct ;1 8 y, .ae,
nrnssion. II Is tho unsold cotton IN first
IN nfs ,vet to find a market which VIII
carry prices downward. \,
On the lsthTof December. the indlentea
e,,I,antity3 gilned was Gas nbOve) y, oUll,o
1,llcre were In sight 8, S44,SS2 palcs i!l9lo
were ginned but not in sight, therefore,
6,l56 as bales to which must no Adueu
still TO be ginned at least ], bQp.ooo5 phles,
I or q total OF 6,65.G0S bales ~ iArlllsra,
hands invisible and unsold or llece'hper
18th. Such IN situation Is wltiiout y Ply.
cedent in the trade, II canno 7 bllt re-
snIt n n prolonged gund acute depression
to probably tho lowest prices ever reach
ed, The worlds spinning trade lmpoYsttf
slshcd by last yeats high prices ana we
nrevos ycnr's corner Is without the re-
sources or credit requisite for the &c 'll7
mutation Of largo surplus stoclss, Nveh
wero 1t otherwise, It Is not "a be exl
tpectcd that manufacturers VIII 20 20
lacking in commercial sd gaclty as 70 pHy
largely at prices That arc NOT ns w
even moderate, when conslaeFea ~ wv
luton To conditions present and prns-
.pectiye. A surplus at the end Of ne
season season, Of Approximately 100000 bales
ms GENERALLY resulted III seven cent cot
ION at some time during the sp ~ . y ]
sumner summer A surplus OF over 1900. o09 bales
has only once existed and The price fell
10 s 9-lB cents and did not advance above
g71r2 cents for nearly q year, ~ my ol'l1l,
ion tho surplus sunply over tho most
iiberally estimated cnnsunptlon Ter thls
season will not be- less than s,oolooo nl|es y.
Visible or MT, II will be on hand aud
must be sold, Its selling Will probably
carry 20 ton to prices as low M theSplpsr
pectiye situation Is unprecedented, IN
Tho facts any other conclusion rs illogGals
| (Slgnct,) STIIIIOpORE H., I'RlS'E.