The farmer and mechanic., 1907-09-10
4 COTTON BEAR
Mr.. Shepperson Secs '.o
Better Prices
He Writes From Europe of the Cot
ton Situation and Doubts if Pres
cnt values Can BE Maintained

cHt NGiucS Stsf1 ESc Ns2IIltdtnStsi
CBy Alfred B. Shepperson, in Manu-
facturera' Record.)
Having Travelled on the Continent
and in England for some weeks with
exceptionally good facilities for OBJ
tanning reliable information, | beg to
submit, on the eve of sailing from Liv-
erpool for New York, my
impressions respecting the cot
ton situation in Europe. The
Continental spinners have gen
orally done a very active and remun-
erative business during tie past year,
and many OF them have good orders
on their books for several months
ahead. Even in Russia there has
been a full consumption of cotton by
the mills, Notwithstanding the many
riots and the general unrest in some
diJtricts. The Continental mills have
Yought Gotten far beyond their re-
quirements and probably hold larger
stocks of actual cotton than ever be
fore at tbs time Of the year. Practi-
cally the same conditions have PIE
vailed with the English cotton mills
though at present ~the demand for
yarns and goods has sackened some
what.
My friend Mr. Thomas r Ellison.
as the best authority en- the subject
estimates that in the 43 weeks ended
July 81 the English mills have con-
sumed 326So bales of cotton of
all kinds. against 3.IS2,G00 bales for
the corresponding time last season,
While the Continental mills have CON
sumed 4.515.000 bales, against 4,313,-
900 bales last season.
The estimated increase in consump-
ton has been $4,000 bales of 500
pounds net weight by the English
mills and 172 900 ba' as by the Cont
mental mills, thus making q total in
crease in consumption by all Euro
pean spindles 25S,00O bales OF cot IN
The increased production of the mills
is due to the general prosperity which
has prevailed throughout Europe du~-
ing the past year, and especially
among the working classes, who have
had almost constant employment and
in many industries at increased wages.
The stocks of actual cotton held
by the English mills on July 81 are
estimated as $4,000 bales COT 500
pouds net weight. against 40S 900
bales at the same time last year while
the Continental mills are estimated as
| holding 1,432. 900 bales, against 871 :
/ 900 bales at the same time in 1906.
The total mill stocks Of Europe were
estimated as 1,948.O00 bales being
$4,000 bales more than at the CORE
spending time last y0aI
The spinners all over Europe have
generally bought cotton from the
present crop far beyond their actual
requirements. The reason for this lib
eral buying at comparatively high
prices was that after the severe
storms in the Southern States last
/ September there was ru.te a general
apprehension among the spinners that
there might not be sufficient cotton
! Of good quality to meet Legitimate re-
/ quirements. In their great eagerness
/ 10 nrOnptlv secure enough for their
4 needs the European s3ifnners bought
I COnSlderab1 more cotton than neceS-
i sary for their wants for the season. It
/ W2s this eagerness to secure the good
i grades which evidenced the differ
/ ences between the bet-er and the low
/ er grades Of cotton to an extent not
/ recalled In recent wears. In the
i scramble for good grades of cotton
/ the American spinners kept pace fully
/ with those Of Europe
While the European spinners held
/ 1,G4S.000 bales of cotton on July 81
+ the visible supply Cor cotton in the
] markets Of the world and at sea-
amounted to 2.207 900 bales of all
4 kinds not including, however. TO
600 bales of India cotton in Bombay
/ warehouses The visible SunDlv was
$1,000 bales more than at the corre-
i spending time in 1906. No one can
! desire more heartily than I do that
+ the South should obtain the very
4 highest price for its cotton that trade
conditions will Justify. but in view Of
/ the large supplies of cotton it would
i scarcely be reasonable to expect a
4 large demand a present prices from
F European spinners for the SeDtenbe
receipts Of cotton from the new
/ American crop unless there should be
i some very unfavorable developments
! respecting the yield of he crop There
/ will, of course. be a limited demand
/ from spinners for special grades and
/ some demand from Southern dealers
| who have sold specified grades of
| cotton for September shipment but it
/ seems quite doubtful if the demand
from these two sources will be suffi-
I cient to maintain present values es-
/ pecially if the receipts of new cotton
should he upon a fai~ly liberal scale
Liverpool, August p.