Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-07-11
COTTON STATUS REVIEWED.
Condition Of the Staple as Seen From
New Orleans.


NEW ORLEANS, June 21.-Ten days
ago, It would have been difficult to
convince any member Of the New Or
leans Cotton Exchange that the charges
that there had been a leak In the gov
ernment cotton reports were true. In
fact the charges, to large extent,
were ridiculed by all the southern cot
ton growers. Today, 1t may be said
that this opinion has been entirely
changed, and that there Is a strong i'm
preston by those on both sides Of the
market that they have been, 1t might
be said unintentionally. unfairly treat
ed. 4
The feeling Of the majority Of the
southern cotton growers Is reflected In
the statement Of Governor vardaman,
of Mississippi, last night, when he said:
"If the Southern Cotton association
should do nothing else but detect this
fraud, It is worth all the outlay OF
money, work. and speaking that has
been done. It will make the depart
ment in Washington little more care
full In the future for 1t to know, that
somebody else is In possession OF the
facts, and able to call them down when
they make mistakes In such, matters"
Cotton Prophecy BY vardaman.
Discussing the reduction Of cotton
acreage and the 1S per cent shown by
the statistics gathered by the depart
ment, etc. the government said:
III the truth were known. ! believe
the facts In possession Of the depart
ment of agriculture on the 30th Of May
indicate a reduction in Mississippi OF
not less than rs per cent, probably
more. believe that at least 20 per
cent Of the land to be cultivated In
cotton this year was unbroken on the
3Oth Of May. congratulate the South
ern Cotton association upon the good
work which It has already done, and
the still better work to be accomplish
ed In the future. The farmers OF the
south will be very neglectful Of their
own interests IL they permit their In
terest in this organization to lag. BY
all means let us keep the organization
in order"
Ten days ago, 1t was the feeling OF
a majority Of the brokers that the adj
vance In the cotton market was more
or less artificial, and that the gradual
Improvement in conditions throughout
the cotton belt would more or less
any advance which was
made. In other words. 1t was felt that
the advance in the market had no true
support. and that within a short time,
the market would drop back to the
position which 1t had originally held.
Today, tihs opinion has changed to a
very material extent. The skyrockets
which were touched of in the local cot
ton market, for several days in sue
cession last week, have gone up, ana
from present indications other sky
rockets will continue to be touched on
daily for some time to come.
Summing Up the Outlook.
Although weather conditions all over
the cotton belt have improved to a
great extent, there are indications that
the crop Will be smaller than expec-
-tations. The unfavorable weather In
the early part Of the season, coupled
with the desire Of part Of the cotton
growers to reduce both their acreage
and the use Of fertilizers, have had q
very considerable effect, and that is
now realized by the operators on both
sides Of the market.
On Thursday and Friday spot cotton
sold above Q cents, and the July option
almost reached that figure. 1t Is prob
able that the hope or fear that the
scandal in the agricultural department
would assume definite shape had a
great deal to do with these prices; but
beyond this, the operators hsd little
or no real information. It Is realized
by both operators and growers that
climatic conditions Of unusual excell-
ence must continue, II the size Of the
crop is to approach the average OF
preceding years. a
Two Sides to q Market.
The cotton market, however, has al
ready discontinued to very considera-
BILE degree a number Of intensely bull
lish factors, and every day for the past
week, the shorts have been keeping
well out from under the market TAX
en- altogether, both sides Of the market
are greatly puzzled over the conditions
that exist, and both buying and selling
are Of a purely speculative nature.
These are among the points now made
here: The surplus stock In the hands
Of the growers and warehouse men has
been practically eliminated as de-
pressing factor In the market. In
creased consumption In all parts of the
world has shown that this surplus stock
will very shortly be absorbed.
On the other hand, in case the mar
ket should reach 10 cents, there is no
doubt that large part Of this surplus
stock In the hands of the growers and
ware house men will be unloaded, as
that is the figure for which they have
been holding out. Again, there Is no
assurance that the crop conditions will
not, within the next thirty days, vastly
improve and with late fall the cot
ton which the mills Of the world will
need may be produced. Meantime, how
ever, the farmers throughout the
south are marketing their cotton with
unusual intelligence, and In such man
ner as to prevent the lowering OF
prices by any large amount Of cotton
being thrown on the. market at one
time. ..H.
The Holder OF Cotton ,..a
In other words, 1t can be said that
the cotton grower himself has secured
a hold on the market which he has ne
yer before possessed, and that with the
knowledge which he has gained, he has
come to be regarded by the spinner
as one Of the price making factors,
and realizing this, the cotton grower
In the south will be quick to pursue
the advantage which he has gained,
and to make a close study in the fu-
ture Of all those factors which govern
the price Of cotton In the markets OF
the world.
The bull side Of the market Is wait
ing for the July report Of the agricul-
tural department with much expecta-
ton. They believe that 1t will be very
strongly bullish In its tendency. But,
while the speculators have been wait