Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1907-05-18

supply the remaining Is percent of the
worlds consumption. The East India
crop is consumed in the Orient in in
creasing quntity, as of inferior quality
and does not come into practical COM
petition with the American production.
The 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 Throughout
the world, and in regard to the con-
sumption of cotton throughout the
world, including the number OF
spindles, in operation. are readily OBJ
tainabIe.
Third-Cotton has more of the at
TRIBUTES of legal tender, is more
readily available as banking collateral,
and more easily convertible than any
other form of merchandise.
Fourth-The market, is world wide,
it's value within certain limitations
always secure, and it is, therefore,
practicable to trade in it in compare
lively large quantities with minimum
of risk.
For the above reasons, as compared
with stocks and securities, 1t seems to
me that cotton is infinitely more at
tractive as a speculation, provided the
facts in regard to it can be obtained
with any reasonable assurance of
accuracy.
In cotton there are no insiders as in
the stock market, to sell valuless Sc
curity to gullible outsiders at a price
the equivalent !of robbery. 1t has the
advantage of grain in that there is no
substitute for it, and shortage in the
supply can only be compensated for by
ar advance in price.
There seems to be no question what
ever, as to the prospective shortage in
the supply of cotton, which will be
available during the coming season.
The worlds consumption will be easily
13, 100000 bales. The first government
report is to be issued on the 4th of June
next. The lowest condition ever re-
date, was in the year 1908, when, with
a condition of al. produced a crop
of only 100000 bales.
From the advices which l am receiv-
ing from the south large number of
which ! reproduce herewith, Iregard it
as exceedingly doubtful whether the
condition, which the orthcoming gov
eminent report Will show will be much
above 20. The average for the past Is
years has been 74.9, and as above stat
cd, the lowest condition was AL. If
the government report is in the neigh
borhood of7O, L shall not be surprised
to see cotton go to thirteen or fourteen
cents Immediately, and stay there.
Iquote the following news received
by wire and letter this morning:
Memphis, Tenn, May 16.-Just re-
turned from southwest. Looks bad for
crops all way round.
Dallas, Texas, May 16.-27 counties
report As percent to be replanted, con-
dition under fifty percent, weevil re-
ported Temple to Red river, Europe
cabling for confirm alton of damage.
Think signs big exporters short and
nervous.
New Orleans, May 16.-Just travelled
South and Central Texas. Crop a
month late, minimum. Very bad stand;
plant yellow.
Memphis, Tenn, May I6.-Condi-
tons around here the worst ever
known.
Greensboro N. G. May l6-Cold
enough to cause wearing. of overcoats
today.
New Orleans. La. 16-Advices from
Baton Rouge says that cotton seed is
becoming so scarce that farmers who
have sold seed to oil mills are tele.
phoning to the mills begging chance
to buy it back. As many as three
paintings made necessary by the
phenomenal rains. In some sections
have brought planters to the verge of !
seed famine. several cotton seed oil
mills have closed because of the scarci
ty.