The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-06-05
COT TON.

New York. june 4.-Ths government
report on cotton, issued to-day. from
returns Of an average date Of May 2s,
makes the condition Of the crop on
that date So. against -. On the same
date last year, and indicates an in
crease in acreage Of 9B per cent
Il Is noteworthy that the greatest
increase in acreage is in the virgin
territory west Of the Mississippi. espe-
cially in Louisiana Texas. Oklahoma
and Indian Territory, where the pro-
ductive capacity Of the land is the
greatest. and The increase in. acreage
q 9s per cent. indicates, therefore,
sn even larger percentage Of increase
IN the entire crop.
As TO The reported increase in acre
age, il is 10 be remarked that the
Financial Chronicle, in lis annual re-
port issued yesterday, figured il al
1l.62 per cent, and in regard TO the
condition, il mas undoubtedly improved
since May 26, no less Of an authority
than Mr. H. H. Reese telegraPhing
me to-day that IF The condition was
IS on May &c il is fully 80 now"
j must. therefore. be conceded that
to-day the condition Of the crop is
at least 20 per cent. and probably %
per cent. better than il was at the
same time last year. and other things
being equal the fundamentally indi-
Gated crop for the coming season is
al least 1000. 600 bales
This calculation takes no account Of
the fact that the new crop has been
this year planted much earlier than
last. in ground exceptionally well wa
tered by vernal rainfall usually
generous, and that il is therefore like
~ 10 mature earlier, be less suscepti-
bic TO possible drought in August or
an early frost in November. 10 both
Of which causes the shortage of last
years production is attributed. Ger
tainly the conditions under which the
further development OF the plant Is to
be had can hardly be less propitious
than they were last year. and the rel
alive gain Of % per cent already es-
tablished viii, therefore, probably be
maintained until the end Of the sea-
son.
In the face Of such conditions any
apprehension of a scarcity OF the raw
material. either for next year OF the
balance Of this season, may wen be
dismissed. With the assurance Of such
a crop any attempt to corner either
July or August deliveries would be
Only 10 invite disaster. Sp1DneTS would
not buy at corner prices. and the ma
nipulators might have 10 sell the cot
ton they received al a decline Of 1
cents per pound.
The worlds visible and invisible sup
ply of cotton of all growths is to-day
about 1900. 600 bales This must be
sold within the short sixty days now
remaining before the new crop shall
be available in quantity and spinners
need feel no uneasiness over the much
talke0-of 6ininution in the visible sup
ply. Cotton is worth nothing II there
are not spsnners 70 buy IT, and with
the assurance OF an abundant yield
next year. manufacturers can within
reason absolutely command the stu
alton. The entire disappearance Of the
visible supply for one day would make
4 no difference II il were known that il
would be abundantly replenished on
. the next
AS regards the value Of the next
1 crop, il is well TO bear in mind that
+ the monumental speculation of the
4 past two years has so disorganized
trade that the consumption Of Ameri-
j can cotton this year Will probably not
/ exceed s.S00.0 to l0.O00. 600 bales. as
against nearly 100000 bales two
E years ago. IL is easy to destroy: X is
! hard 10 reconstruct. The destruction
Z is quickly accomplished. The process
Z OF upbuiiding is slow. So far as the
I cotton manufacturing trade is concern
/ ed. the rehabilitation will have COM