Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-06-19
COTTON TRADE OUTLOOK.
Great Development in Few Years May
be Expected.

Baltimore. Md. June 1S-Nr. Charles X.
Oliver OF the United States Cotton buck
berry cotton Duck Company. after sever
al months absence in Europe studying
issue of the Manufacturers Record his;
views on the outlook i'll this country and
abroad. Mr.. Oliver says that as Il result
of his observations he looks for an enOr-
NOUS development of the cotton goods
business in this country within the next
few wears and adds.
Manufacturers here possess many ad-
vantagcs over their foreign competitors:
inrlu,linS the raw material right at hand
and the ability to obtain more accurate
information concerning cotton crops.
In La.TaShitc. England. found thir-
ty-four new mills with about eight mil
lion spindlrS, i'll course of building They
are Principally yarn mills. some few ar.
weaving mills but not many. \ good
deal oi new capital is going int" them.
anil thos" who are responsible TOR their
erection ar" mostly architects and mate
rial men, and Il large over production is
expected. 1t is the policy of the WIS.,
ones over there not to buy yarns ahead,
because they antiripat" drop in tn.
price. The w"aV"rS are not buying be
ynnl what they consider good Judgment.
hut they are selling all the goods they
can. Some are sold ahead for nine
months and some for 1897 delivery.
"kncliShncn are pretty well supplied
with cotton. but if they understood tn"
situation over here they would b" scared.
erS Association. iut tn" demand froui
Europe for our cotton is going To drop of
AMI leave the American SpiuncrS III Il
very strong position.
The outlook for tn" cotton good; bust
ness generally is very good, said MIR.
Oliver. but | do not think it would he
well to build any more mills in the SOUTH
at present and make the mistake which is
being made in Lancashire. What VIC r.
qure is NOR" outlets tor our goods. This
country is yet away behind England in its
f"r"igu connections. Why our own goods
cotton duCk9) are sold in South America.
not direct. but first to II man in Liverpool
or Manchester. and then to South Amcri
ca ThoS" in the business IN England
hay" men in their offices VIII" c:'n speak
tire" or four languages. They get down
t" their trade and serve it as it needs tn
h. served: that is what we in America
must do to enlarge our outlets.
TT is ali wrong to think that English
m.h are not progressive. They hay" tn
huencsS arranged and conducted sci"nti-
hcllly. aud Their" is not on, Of them who
will hesitate to throw out one tnHchlnc FOR
a better one. even if III" Older marllln" -
only half worn cut What they are after
Is tn" very best. But | was somewhat
surprised to discover that their cost ut
pr"ductiOu is little il any lower than ours.
hut i'll the matter of economies outside ~
their mills they ar" very expert; that Is
where they make their money. Hut III
some items of manufacturing they were
NOT as low as we arc. and III many cases
not 50 low as IL our Southern mllls.
business is transacted rapidly. On the
Manchester Cotton Exchange | saw iiN'
thousand men trading at one time bun
th'v all got through III thirty minutes
ana the results of the trading were I'm
mcdiately photographed all over the W"fld
tn" maximum number trading on tn" f'X
change has been six thousand. the peopi,
i"inG so close together that you could
have walked On their heads.