The Savannah morning news., 1904-01-26

0HOP
There is a wide difference of opinion
between the bull estimates of this sea-
sons cotton crop and the estimates of
the bears. Daniel Sully, who earlier in
the year estimated that the crop would
be 99S6,OOO now expresses the opinion
that it. will not be more than 100000.
The fact that more cotton has come in
sight thus far this season than came
in sight during a similar period last
year doesn't seem to have much weight
with him. He points out that during
the earlier months of the season farm
ers We're in haste to market their cot
ton because of the high price cotton
was bringing. They picked and ginned
their cotton as rapidly as they could
and sent it to market. In that way he
accounts for the larger receipts of cot
ton this season. The amount that has
been exported this season is consider
ably larger than that exported during
a similar period last season. but MIR.
Su1ly is satisfied that the European
spinners have not yet got nearly the
amount VI NOLNOlA lHG1 dllAt anu NAldL
before long they will begin to scramble
for cotton. The price then, according
to his way of thinking. will go much
above what it is at present.
Mr.. Sully says that his agents have
Investigated the cotton situation in the
South very thoroughly. and that from
their reports he is convinced that the
amount of cotton at present in the in
terror is much less than it was at this
time last season. The big receipts do
not show the true situation.
On the other hand. Theodore Price
says that up to Jan. Is the amount of
cotton in sight was greater than the
amount that was in sight on the same
date last year. and that the crop last
year was 1O.727.OOO bales. He mentions
also that the worlds visible supply of
American cotton is in excess of that of
last season. He sees no reason there
fore why the crop this season shouldn't
be as large as that of last season.
He admits that there has been fall
ing off in the receipts in the past two
VI hA'AtN NtChSB Jul says AhAS 10 dpO W
the lack of demand. His observation IS
that there is comparatively little in
quiry for cotton by bona fide consum-
ers. He gives a reason for this lack of
demand, but it doesn't seem to be a
very good one.
AS matter of fact il cotton should
drop a cent or two a pound the prob
abilities are that the demand would i'm
mediately become active. The very
high price is what has kept buyers out
of the market. They have been hoping
all along that there would be a drop in
the price, but thus far they have been
disappointed.
No doubt this difference in opinion as
to the size of the crop will continue to
exist until the end of the season. The
report from the ginneries that will be
made by the government early in Feb
ruary ought to clear up the situation
somewhat, but it is doubtful IL il will
be sufficiently satisfactory to relieve
the situation of the doubt which at
present exists as to the size of the crop.
A report is being circulated and has
found its way into the newspapers that
Mr. Sully has succeeded in interesting
the Rockefellers in cotton, and that
now they are assisting him in holding
and buying cotton, thus forcing up the
price. If this report has any founda-
ton it wouldn't be surprising If the
price should go considerably above
what it is at present.