The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1904-12-08
A BIC COTTON CROP
Seasons Yield is Placed at
.12,162,000 Bales.
GOVERNMENTS ESTIMATE
Figures Cause Tremendous SURPRISE
Even Among Veteran Dealers.
Growers Will be Greatly
Disappointed.

A Washington special says: Pre-
liminary returns to the chief OF the bu-
reau Of statistics Of the department oE
agriculture show a total productions
If cotton in the Unied States IN: the
years 19o4-05 of 1916, 900 bales
Round bales are included in this esti-
mate and reduced to their equiValent
In square bales. y. &. B.
The estimate does not include linz
ters. ~
In the preparation and issuance Of
the cotton report; Secretary Wilson
gave demonstration OF the precautions
taken to avoid advance information
leaking out. Representatives Burgess
of Texas, and Ransdal, Of Louisianas
were invited by the secretary to Wit
ness the preparation Of the estimate
The party was locked in the private
office Of the statistician, and reports
from all the cotton districts were
taken into the room The doors
were locked from the outside, and thea
secretary then gave orders for tho
opening Of the report. The estimate
of the crop for the year 19041s0ss
was then prepared. and sent ont before
any person in the room was permit
ted to leave or communicate with any
person from the outside.
"In this manner the cotton estimates
are invariably made. said secretarx
Wilson, and all human Ingenuity sis:
used to prevent leaking Of infcrmas
tion."
A Tremendous surprise.
A New York special says The
government estimate for the Cotton
crop placing the yield at u, ,i62009
bales, issued Saturday, was . surprise
to more people than any govern
ment report Of recent years. While as
few OF the more extreme bears had
been talking 10000, 600 bales oroYer
the average opinion even In beaTtsh
circles locally was that the govern;
ment estimate would be under that sftgs.
ure. e ~ 5 s;s
The announcement was followed By
another sensational break IN prices;
The decline that has been IN progress
now for over q month and carried the
market down from IL cents to 8s1szS
cents proved insufficient In the esti-s
nation of the trade to fully reflect the.
new condition OF affairs, and q crop
Of the size reported. There was snn-s
doubtedly big short interest. ID the.
market, but in spite OF covering
prices declined nearly hall tent fns
less than half an hour Of tradihg
January, which sold around 856 durs
ing the forenoon, was depressed tcs
about $40 and other months suffering
In like measure. The market WAS
very excited with trading exceedingly
active. ssSsss
Disappointment to Pianters.
There is no doubt about the TACT
that the government cotton crop re-
port estimating the present seasonss
crop at Il. 10000 bales Win prove
serious disappointment TO the plant
ers all over the south.
The recent decline has given an ins:
dication of the trend OF things, but
despite all that and despite the 11,s
800,00O-bale estimate the planters;
have been nursing the hope cfesonle-
thing better when the government ess
innate came out
Everywhere cotton is being held toIS
10, and in some cases. for - cents;
the government estimate snashes,
these hopes for some months to come
at least, and, perhaps permanently, 80:
far as the present seasons crop IN co;
cerned. ,
Bat far from making the planters
rush into the market, the effect OF stha
government report viii undoubtedly,
be to make them even hold on to their
cotton tighter than ever, hoping:
against hope, it may be, but hoping
nevertheless, for something better in:
the future.