The Montgomery advertiser., 1907-05-15
COTTON.


New York. May l4.-(Special. "A
strong and advancing cotton market To-
oay mas Deen met ny neaVy sales on
the part OIL those VINO nad the lore
sight 10 grasp the possibilities OF the
situation, Wnen prices were lowered
ana who, with the tatuity OF the ordi-
nary speculatUr, are content TO feallze
small pronts out OF situation mat
promises enormous possibilities. AS
said yesterday, L believe the advance
in the cotton market has only COM
menced, and before many days AZ cents
Will seem as cheap tor cotton as ~
cents did yesterday. We know IN
part and we prophesy in part, but the
1acts of the present situation enable
us 10 prophesy, with unaDated conn
dence, probably the greatest CONFUSION
in the value of cotton that has been
seen since 1908.
In the period which has elapsed the
world has enormously increased in
wealth and in its textile requirements.
1t is generally recognized that cotton
prices are the cheapest form OF cloth
that society has as yet discovered and
the rush for cotton cloth is continu-
ally increasing. AS a single instance
of this fact, | may mention that l am
reliably informed that the cotton duck
used in connection with manufacture
of automobile tires during the present
year will be the equivalent of over S00,-
GOO bales of cotton. There Is move
ment on foot amongst the planters OF
the south TO substitute IOI lHe JulS
bagging, previously used in baling cot
ton, d bagging made of low grade
cotton. If this plan is realized 1t will
increase the consumption by fully
million bales.
In regard to the next crop 1 cannot
do better than quote the following
this morning received from very con-
sentative member of the New York Cot
ton Exchange: Have Just returned
from over a two months trip South and
found conditions much the same as l
wards the end of my trip visited Ala
wards tn eend, of my trip visited Ala
bama and Tennessee and the same con-
dit!ons obtained there as in Georgia.
Replanting was going on all over when$
ever the ground was sufficiently dry
to permit of its being done, out owing
to the succession Of rainfalls all over
farmers were having a hard time Of
it, and this, together with the scarcity
of seed, which is of poor quality, has
created a condition which, In view of
the demand for cotton and cotton goods,
is nothing less than alarming. All
mills | visited recently are sold up
TO January /, 1905, ana many into June.
In Anderson, S. G., I found the largest
mills in most places have stocks suf-
ficient to carry them into July, and
have contracted through large spot
houses for the balance of the season
but there is-scarcely mill that Will
not have to buy during the summer
Carolnas. Georgia and Alabama, one
cannot ind a bare of cotton. while in
large mill towns stocks are not one
sixth as much as at the same time
last wear. All old cotton as far back
as 1904 has been sold from plantations
and much of the cotton In the ware
houses everywhere is two and three
years old. made particular inquiries
regarding mill commitments for goods
and the stock OF cotton in every town
l visited, and what I am telling you are
undisTuted facts
y don't believe the country can make
100000 bales this season. 1t is
bound to be a late crop, and an insect
crop. l guessed the last crop as 49,
000 900 early in the summer and the
previous crop at 100000, and don't
think this one caG be over 100000
with an average condition from now
on. For your information. VIII also
state that only last week dry goods
men informed me they cannot get ship
meuts on new business before next De-
Cember, and on the same lines they
cannot get shipments at all visited
these inquiries in ever ytown visited,
and the information was the same all
over | believe YOU are absolutely cor
rect in your views Of the market, and
crop conditions, and am satisfied your
Judgment will be more than Vindicated
before the season is over"
(Signed.) Theodore II. Price.