The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-12-08
friday December 8, 1905
THE COTTON CROP REPORT.

THE COIION CROP REPORI-
The bill to be introduced in
by Congressman Webb. Of the Char
lotte district, requiring daily publ
cation of cotton giDners' reports is
attracting Il good deal Of attention We
should think such provision would be
greatly preferred by all persons inter
ested in the cotton market. except
Spectators i'll futures, to the present
Of reporting estimates. A
monthly report puts the market TOO
much. in the hands of the cotton
gamblers, rs is shown on he ex-
changes every report day. 1t is claim
ed for the Webb bill that il will steady
the market and put a stop to the vio-
lent fluctuations which always follow
the agricultural departments monthly
reports.
A number Of cotton men OF Char
lotte have been interviewed hy The
Observer as 10 the merits of that bill.
The account Of the interviews says
that some believed the new arrange
ment world work better than the one
~irrfOrce, but the greater number favor
ed the adjustment OF the relgsft alto
getllet'' and that here is Il movement
onzfoot among the members of che cot
ton exchange 10 urge tlrat the govern
ment do away alLsz'<U rrn the crop
rsaAde-r
IT strikes. us that 10 %svv ernusent re-
ports ut all you'd be better than j
present system that is. better for the
cotton producers, for the anill meg and
Ter those engaged iii legitimate bust
ness-buying the spot cotton for resale
ut Il future day, These persons want
q steady market. II not liable to stlch
violent fluctuations rs were exaseri-
enced last Monday and. in fact, ara
seen On every day that the govern
ment makes it's monthly report.
tHeso latter conditions are. of course.
preferred by thesmen who gamble ON
the price. 1t is. 10 thei" interest to
Keep the price going up and down AL
the time, and the more sudden and
violent the changes The better it suits
them. But this condition is disas-
rous to the men epgaged in tile legiti-
mate business of buying and selling
the spot cotton.
The different Glasses of uaen inter-
estei In having Il steady market
should unite i'll an endeavor TO have
congress either pass the Webs bill or
do away with the government report.
We are. rather inclined to think the
latter would be Of monsl service to.ssel-
lers any buyers Of spot cotton. These
government reports are, misleading 80
matter with how great care the data
are secured and the estimates naSle
out For instance: take the agriculture
al departments report given out last
Monday of 10,167.S1S bales. \ New
Orleans dispatch states fist his esti-.
mate WAS Of gross bales az five hum
dred pounds TO the bale: whereas, last /
years report was Of so many bales
~ ~ ~ &2'thiC Weight. tuIS
years report Included the sveight OF
baggilg and ties: the other did not
Taking off the five per cent. allowed
Tor baGsinG ami ties from the 1O,167.-
1918 bales and it VIII make the estimate
Of the ,~actual cotton only 9,e59.427
bales as compared with the 1890, 900
tf0n Of last vajr II, .nrr,Ior,+o
This statement the Me- iOnal Gigs-ars' |
Association pnts it's estimate of the ,
|lcrop at 9.63S.OGO bales !
4 daily report would eurely she bet
Tier than The present procedure and il |
|Pt canot ne secured, then the monthly |
reports SIOUX! isa done away with ]
pa the interest 81 the southern far !
|agers and the spot cotton bAyers. |