The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1907-05-18
COTTON.

movement, with quotdtiohS on tne cuIp
/ to points higher. AS a result of
the impending reformation in the con-
tract and methods of the New York
Cotton Exchange, public attention is be-
ing again directed cottonward. and
once the reforms for which 1 have been
lighting have been realized, the New
York Cotton Exchange will recover
some of its old-time influence and i'm
portance.
AS matter of fact, speculation in
cotton Is legitimately more attractive,
and less hazardous than almost any
the public can engage. My reasons for
TINS statement are as fellows:
flrst-America has a practical mo-
nopoiy OF the words cotton produc-
ton consumed throughout the world is
produced in about 1852 counties in thir-
teen southern States. The Egyptian
ana East Indian crops supply tine re-
miaInins 10 per cent. of the worlds con-
sumption. The East Indian crop il
consumed in the Orient in increasing
quantity. is Of inferior quality. and
uoes not come into practical compe-
luton with the American production.
Inc egyptian supply is very small and
Is used only for the manufacture of a
special class of goods for which few
mills are adapted.
second-The statistics available in
regard to stocks of cotton throushont
the world and in regard to the con.
sumption OF cotton throughout the
world, including the number OF spin
o h IN operation, are readily obtain
Third-Cotton has more of the at
tributes of legal tender. is more
reauliy available as banking collateral
ana more easily convertible than any
other form of merchandise
FOurth-Tha m Il.
It's within certain limitation always
scarce, and is. therefore, practicabIe 10
trade In 1t in comparatively large
f fha with minimum of risk. For
sne ABOVE reasons, as compared with
STOCKS and securities, it seems to me
inat cotton Is infinitely more attract.
I've as speculation, provided the facts
with III regard to IT can be obtained
curacy' In cotton there are no insid-
erS IN the stock market. to sell
NaIueiess security to gullfble outsid-
berry T at Il price as .t the equivalent Of rob-
In that there is no substitute for a ~
ana shortage in the supply can only
price. q" ADVANCE In
eva anere seems to be no question what
t tbe as to the prospective shortage in
inc supply of cotton, which will he
ITEalIable during the coming season
is AK W oaa consumption will be. easily,
boASS' He IlTSt government
report Is to be issued on the 4th of Time
next. The lowest condition ever ~e-
ported by the government on the date
S MAS IN the year 1908, when. with a con-
onIv h 10 o 6oo aoo we we produced. a crop of
from the advices, which / am receiv-
ing from the South, a large numher az
sWhich ! reproduce herewith. 1 regard
condition. which the Forthcoming gov
ernnient report will show, will be much
above 70. The average for the past
a aboys . years has has been S49, and as
al. II the government report is in
the netghborhood of 20, I shall NOT be
surprised to see cotton go 20 thirteen
there. -N o'N'
l quote the following news received
oy wire and letter this morning:
memphis Tenn. May 16,-Just re-
month late. minimum. very bad stand,
crops all way round"
Dallas, Texas, May 1e.-rwenty-
seven counties report AZ per cent TO
cent; weevl reported Temple to Red
River, Europe cabling for confirma lion
damage; think signs big exporters short
and nervous"
New Orleans. La. May 1s.-Just
Travelled South and Central Texas, crop
month late, minimum. very bad stand,
Memphis, Tenn, May 1s.-Coniitions
around her are worst ever known"
Greensboro. N. C., May 1!-Cold
enough to wearing overcoats today
from Baton Rouge say that cotton seed
is becoming so scarce that farmers
who have sold seed to oil mills are tele-
phoning to the mills begging a chance
paintings, made necessary by the phe-
nomenal rains in some sections. nave
brought planters to the verge of a seed
have closed because of the scarcity"
Baltimore, Md, May 17.-Our re-
ports from the South show that the
plorable and we are afraid that in our
circular to be published June l. we
shall only be able to give a condition
of ~, against ours of 81 of last year,
and also report that though the South
have made heroic efforts to increase
acreage that climatic conditions have
been so adverse that very little more
will be actually under cultivation than
at this time year ago. We think that
the Memphis district, which involves
two and a half million bales, is in
the worst shape in our recpllection and
can under no circumstances make a full
crop.
Port Gibson, Miss, May 16--If there
ever was a time when farmers, ner-
chants and all those directly interested
in the cotton crop had valid and good
cause for encouragement, surely just
now during the present season, for
more than three weeks past, at a time
when every moment of neld work is of
greatest Importance, low temperatures
and incessant flooding rains have been
of continuous occurrence The pres
ent conditions seek vainIy for a prece-
dent, they are truthfully deplorabIe and
the future in this instance, cannot
redeem such distressing beginning.
New Orleans, La, May 15--Will pay
ten dollars per hundred to call ten
thousand December twelve cents up to
August first.
Cameron, Tex. May 14--The writer
has been buyer of cotton in this coun-
try for seventeen years and is rather a
close observer of the crop condition.
am of the opinion that the present crop
outlook is the poorest al this season of
the year at any time during the past
seventeen years. Fully 20 per cent of
the crop wal have to be re-planted.
which cannot yet be done on account of
the wet condition of the ground An
other heavy rain here this morning.
Lamar, Ark. May 14--The outlook for
the belt. Weather is cold and what
cotton is up, is dying. Hard rain today
and cold.
Greensboro. Ala, May 14--It is undis-
putably fact that after fertilizers are
put in the ground protracted wet
ground. as we call 1t. and if the weather
we have had, has not had that effect to
at least 80 per cent of the fertilizers
used in this section. l shall miss my
guess badly. To illustrates On my own
place l used this year approximately
$1,000 worth of fertilizers and II l get
the benefit of one half of that amount.
it will be more than l expect
Port Gibson, La, May 17--Thousand
of acres fertile low land soil will be
again broken up next week. weather
permitting, and once more re-planted.