The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-01-14
World's Surplus and Dinners



tion this N-ar is conceded a~ settled. 10
s. agreed hy au leraeuizeI experts In this
country arI Europe as likely Gu exceed
the equivalent ~ 1890 i00 bales 90 Amer
Scan cotton. This woHd cqaal tle pre-
V.ous record-hrcah total consumed
1rom the previous hir crop produced dug
irg tho season ~ 1919. With scch
heavy worlds consumption as THIS in
prospect. and less than -sl -. ssaies OF
American cotton shown 90 have been
carried over lu tle worlds visible sup
piles at tho close % last season. there
r..i hc utUe fear % any hlrdensoue
Eurp.e- to De provided for this year.
q worlds visible supply Of lo0ol0o bales
o. American cotton IS considered iu the
trade as small enough amount OF pro-
lection 10 the worlds zpinners against
tile aggregated risks in regard TO the
new crop. and Che question whether IL
Will he early or late iu coming upon The
markets With the prospective supply
and tile demand features in this years
cotton situation So nearly balanced 80 is
not believed prices are likely 10 show
much decline from the present quotations
unless some political or financial dis
turbauce should develop.
Cotton Exchange SANDERS.
Steps are being taken by the officials OF
the New York Cotton Exchange to raise
IT I'D a. l-I-lIfL a-tA-i.tilil tlAAll any oNtltf
cotton contract market I'm the world
committee having this matter In charge
has reported several amendments 10 the
bylaws which are 20 Ice discussed az a
Special meeting OF the members 20 be
held on Monday, january 2ist. after which
. date VIII Doe selected for balloting on
their adoption. These changes include the
holding Of three meetings each year by
the revision committee ON the quotations
~ Those meet %
held on the third Wednesday of Febru-
ary, in addition 20 the s. ptember and
November meetings. as provided Tor
under the present regulations.
The recommendations further provide
for the elimination Of the three lowest
grades from those deliverable on con-
tracts. These include strict good ordinary
tnsed cotton. and also low middlng
Hinged. and all quarter grades" above
and below the basis Of middiing. which
s. the standard grade. It is believed that
these changes would have been recon-
mended and adopted without the need
less clamor recently raised by certain
officials Of the Southern Cotton Growers
Association.
Grain Market.
There was an advancing tendency in
domestic wheat markets early last week.
although. all things considered. the net
Improvement was unlmportant. There
was enough news Of STRENGTHENING ma
ture 10 have justified much greater up
turn had tho speculative operations becn
sufficiently active. The volume of busi-
ness IS not large enough 20 swing the
market much I'm either direction. AT the
beginning the buoyancy was partly at
tributed TO light worlds shipments. and
the consequent reduction IN the ouantit,y
On passage. Demand was quickened Nv
smaller arrivals at primary points. ana
reports Of a better milling inquiry for
prime wheat in the Northwest. SVhero
The grading is unsatisfactory. II uas
reported that much wheat was received
too poor for milling. and will have to be
used for feeding poultry and live stock.
This caused little surprise in view Of re-
Ssnt reports that much OF the wheat de-