The Montgomery advertiser., 1904-08-14

the realization OF previous brilliant crop
prospects From Texas particularly COM
plants OF serious damage, not only from
the boil weevil but also from the boil worm
whose ravages are said to cover oil the
centres Of the northern portion Of that
state. Before the advent Of the weevil II
was an axiom in Texas that plenty Of rain
makes plenty Of cotton, but now Il seems
shat showers at this season of the year in
the infested districts increase the. activity
OF the weevil and are said on many planta-
tions to be destroying forms and young bolis
as fast as they appear. putting end to
all further production by the plant. Dam
age from this source may or may not be
serious. depending largely on the duration
OF present showery weather. but complaints
are SO persistent and so definite from many
sources that they command our attention
and warn us against being over sanguine
at this early date. II will be remembered
that the shortage in Texas really caused
the short crop OF past season The new
crop has not begun to move yet and re-
ceipts for this. the second week in August
are actually less than for the first week.
something never known before In the his
tory of cotton. Should It turn out that
more has been sold than can possibly be
marketed. squeeze In spot cotton may
result throughout the South in last days Of
August This of course would only be tenn
porary but might serve an object lesson
TO those who have been selling SO freely
for early September shipments, and might
prevent exporters from holding off when
early receipts begin to move freely.
When We remember that the spindles OF
the world under normal conditions consume
$4,000 bales per day. we begin to realize
what II means when supplies In q great
country like ours have been reduced to less
than three dsys consumption. As II WIN
be month before the movement Of new
cotton will equal daily needs for the mills
II is evident that II weather or crop condi-
lions should be unfavorabie there is stii
risk Of manipulation which might make
II very uncomfortable for the shorts, re-
CARELESS of the final outturn OF the crop.
1t is generally believed that the bull opera
tor who became aggressive after the last
bureau report has liquidated his holdings
and he is now suspected OF working In the
interest Of lower prices.
A climax Is expected within a few days
in the war situation in the Far East and
should the result be a complete Japanese
victory peace will be promptly followed.
In such event 1t is the belief in well
informed circles than demand for cotton
goods from China. Japan and Manchuria
will become an early factor in the dry
goods market.
n. o y. BEERS COTTON LITTER.
NEW ORLEANS. August 13.--The worlds
supply OF American decreased SO, 900 bales
ing week last year. total available Of Ameri-
can now standing at $4,000, against 672,-
600 one year age. $4,000 less, while visible
stock of other kinds Is within 10000 Of
what was held twelve months ago, n. 900,
compared with $4,000, all kinds now fig
uring 1.333,00o. against $4,000 At end
OF august last year the wOflQS visible OF
American had dwindied to $4,000 bales,
but the visible this year will continue
TO lose for week or 80 longer. the supply
OF American next Friday will probably be
reduced to less than 500, 900 and about 45o,-
900 by end of the month. These compari-
sons exceedingly bullish on their face,
yet they are without influence for the
son that the new crop is an early and
probably very large one. Receipts OF new
cotton will have become so heavy when we
have entered September. Houston expecting
5000 to $500 bales Monday. against 2T
corresponding day last year. that II will
been made up In the visible supply and for
an excess of 900. 900 or 400,0 900 last
years visible to be shown by the end OF
September. in which month movement to
market will probably be 500. 900 larger than
what was marketed during same month last
year. With such prospects in view 1t can
readily be understood why the small stocks
OF cotton now on hand in Europe and in
America, in the United States $4,000. COM
pared with 221.000 last year: in Europe
$4,000, against $4,000. have but little In
growing crop. which promises to replenish
and add to the stocks of the world at no far
distant date. Crop accounts are the most
important factors affecting values this sum.
mer and will continue TO have some weight
on market until receipts Of new cotton be-
come heavier The early advance of ths
past week due to unfavorable crop re-
ports, too much rain in central and eastern
sections of the belt causing rust and she'd
ding, and worms and weevis were said
to be doing considerable damage In Texas.
More favorable weather and heavier re.
ceipts of new cotton. which now ex-
pected to multiply rapidly. occasIoned
easier prices noted at close OF week. De-
cember closing at s.A@s.42. compared
with $50 last Saturday. September. while
ruling easier, remained unchanged. snIes,
so bales. market closing dull and easy.
Middling. ION. same as this day one week
ago.