The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-12-30
SMALLER CROP
ONLY REMEDY
THAT COTTON MEN CAN SEE
TO HELP MAHKET NOW AND IRE
VENT FUTURE Low PRICES.

10 Burn Cotton. They Think Worse
Than FoOIish-Statement Made
That Present Condition of Market
Might Have Been Materially
Worse Had Break Come Earlier.
MIR. J. r. williams Thinks Prices
Too Low Even if Crop Is as Large
as I3.UOO.O0O Bales.
The local cotton trade was enabled
10 resume business yesterday with some
basis on which to make prices.
At the opening of the market good
rniddling. the only grade quoted, was
posted at ga cents, and at the mid
day call. and the close. the other grades
were quoted at the usual parity with
good middling which maintained its
price during the day. The tone Of the
market was quiet throughout, but the
sales were larger than has been the
case for several days.
The trade is still at sea as to what
the future is likely to bring, but the
only measure that any one ventures
to suggest as remedial for the present
condition of affairs is a lessened acre
age for the next season. This, they be-
leye. is assured, for even if the fac
tors ana the banks were inclined to
advance money enough to plant as
large a crop as was produced the pres
ent season, they will not be in posi-
ton to do so on account of the money
they now have tied up in the cotton
they are carrying.
burning Cotton Is Foolish.
Such measures as destroying the
cotton that has already been made. the
cotton men look on as worse than fool
ish. In fact nobody takes any stock
in the reported burning of cotton at
Fort Gaines. reported in yesterdays
Morning News. The lack of details
casts suspicion on the story. said one
member of the Cotton Exchange, while
another said that burning a bale of
cotton, even at present prices would be
just burning $50 to $S5 in greenbacks
and nobody is likely to be so foolish.
While it is conceded that things are
looking pretty blue for all holders of
cotton it is likewise admitted that
things might have been a great deal
worse. When an analysis of the situa-
ton is made. said one trader. it will be
found that cotton brought on an aver
age of 10 cents a pound. or a littse bet
ter, during the first three months of
the season. September. October and
November. and as the cotton in sight
at the end of the last named month
was over 100000 bales it is a fair
assumption that, even placing the total
crop at 5000 900 bales. a half of il
has been sold at a very fair price.
short Acreage Certain.
If the break in price had come earlier
in the season the loss would have
proved materially heavier. while if it
had come later in the season another
evil would have complicated the stu
alton, for the farmer would have al
ready planted probably as great an
acreage as he did this season, and the
promise of a second large crop would
have cut off any hope of better prices
for two years. instead of one.
As it is, with a lessened acreage for
the coming year. spinners will be will
ing to take the large surplus of the
present crop at a low price in order
not to be caught short next season,
when very short crop will certainly
send prices higher.
Prices May Go Up.
Mr.. ]. P. Williams thinks cotton is
selling too low and looks for better
prices as the season advances. Even
supposing that a 1900, O0O-bale crop
has been made, he said, prices should
be based on the commercial CROP not
the agricultural one, and the CONNER
cial crop is pretty certain to be possi-
bly, as much as 1000 900 bales shorter
than the agricultural one. for the rea-
son that the country is in good shape
10 hold cotton and there will be
enough men who would rather have
their cotton than sell it at present
prices to take approximately 1000. 900
bales out of the count.
Mr.. Williams thinks also that the
growth of the cotton manufacturing
plants and the constantly increasing
worlds needs for cotton articles should
make the demand for cotton prod
uets such that the mills will use at
least II. 500. 900 bales this season.