The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-27
COTTON.
Especial 10 The Times-Dispateh)

Especial to The Dispateh)
NEW YORK, October 26.zFurther
analysis and study OF the ginnerf report,
published yesterday profoundly tonvinces
canoe. The National Glnners' Associa-
lion, whose bias Is admittedly builish,
ginned UP to the 18th OF October 4s4o,7ss
is exactly 45 per cent. OF 100000, and a
cotton production OF 100000 bales during
the present season. plus the unmarketed
tainly not a bullish proposition
1t Is quite possible, however, that the
amount reported to have been ginned up
10 the 18th Of October Is even smaller
per cent. OF the crop than 45 per cent.
n 1903 the proportion ginned up to the
lsth or october was only 81 per cent. on
ported would idlcate crop much in ex-
cess of 100000 bales.
!, An ANALYSIS Of the report by States Is,
Searsh sisndcance piviang te States es
into two groups, We have Arkansas, In
dian Territory, Louisiana Mississippi.
p 6aes enned sn na Tsnns saSpF ss si a
gInneres being 1854 as against 1S,sss
gins last year, LIS gins thus not report
Alabama, Georgia, Florida. North Caro-
lima South Carolina. Tennessee Virginia,
H 3.s eae and MlssoIr hay,ng g!nned
q,
year: a decrease OF onlys1.5 per cent. the
number of gins reporting this year being
iiaiI5;o compared , VIE g. 1925, last year
In the Atlantic States, Including Alabama
and Tennessee the quantity ginned up
t. The 18Th Of October TINS ~ year Is prale
last year, and that the entire deficiency
as compared with last year Is to be found
in the Mississippi, Valley, Texas and In
5tuSN >S,it a nf q hnr 70 n
Texas being confined according to my
private reports to the Northern part of
the State).
1nthese States, the crop is indubltably
late and has been SO from the commence
ment as n result Of the heavy rains dur
ing the spring and summer, but It Is still
sn} faetor in eeetns the
Valley has been entirely, overlooked BY
aa rnf Whc Il the has y soet taye as ana
facilities. Of the Mississippi Valley, even
as far North as Memphis. In fact, this
ence In New York OF many distinguished
captains OF Southern Industry and specu..
lation.' who. had they been at homo. would
undoubtedly have accelerated tho cotton
movement,
nSfhh q fss h9t ssR1EsSs
r Tasgi asfo Tie Ant!e y staies - NV
< II the mississippi. Valley section the
dGSe T. In The ginning as tnp H
lantic States, the deficiency In The GIN
ming us compared With last year, Is 10
No one believes there Is any such In
equality in the geographical distribution
of the crop shortage as compared with
last year. and am personally of The
opinion that logically considered the GIN
ners' report points to crop probably
much In excess of any figures now cur
rent aud not far from 100000 bales.
tSAs regards the market. cannot as n
commercial proposition, bring myself TO
lbullGcotton ut lie. pound, under any
conditions Even was there q prospective
deficiency. the automatic effect Of high
prices. upon consumption has too often
been demonstrated In the past, The sup.
ply OF East india cotton is the largest
In the history Of the, trade, and nearly
double that, OF last year. At present
prices, # win Inevitably, to some, extent,
anarchy strikes and Industrial idleness
general throughout Russia;. With the Gear
believed to he on the eve OF abdication; q
in india and the manfestiy slackening
dry goods trade In America, look for
lower rather than higher priees.
|, (slEned) THEODORE II. PRICE. +