The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1909-10-20
COTTON REPORT
Owen Out By Carpenter, Basgot &
Co., Of New York.


:;cw York. Friday. Oct s.-Neces-
si,y Is proving the mother OF lnven-
,ion with many manufacturers.
The passing OF the Governments
sinners report showing that c.562.
900 bales had been sinned up 70 :he
25th OF September compared vita
$3.50. 900 last yea: and 1856 600
in Ia05-0s when the crop was uud-r
100000 bales exclusive OF lint
erS.
These ffures were construed As
very buli!sh wheo taken into con-
sderat!on adrices from every source
describing this crop as prem .tucely
opened and the completion 0: PICK
ing predicted by the middle Of o.
to5er from nany sections.
Following this at noon on the
same day the Government issued its
condition report showing the aver
age condition as OF Sept 2oth a:
5s.5. This compares With e3.7 last
| month and shows a deterioration Of
So. and with the exception OF re
port Of 5s3 In 1902. this is the low
es, for many years Il not Of record.
aad. OF course, Is construed as ex-
,.enely bullish.
| We do rot make any crop es'!
nate-we DO not compile any figures.
but. Of cu:ose. through our Own
sources OF information We form ou.
own conclusions, and we are led TO
believe by the Information before
US at this time that the crop will
be about 10.600.000 bales or 70 pu,
it conse1ra,iveiy viii! range well un-
der 100000 bales.
The issuing Of the Governments
report Of 5S.5 80 fully confirmed
previous advices 10 the naausactur-
ers that 1t caused some confusion.
They have doubted the private ad-
vices ;ha; had gone out from time
tc time and have been led 10 BE-
l.eve by pessim!sts ;ha; this marse'
was sure TO decline during the rush
movement. but up 20 this time they
have failed 20 realize more than 3
temporary setback. notwithstanding
the fact shat up TO date there are
probably more than 100000 bale.
already in sight out OF which w
have exported slightly over 1000.
900 bales as compared With 10000.
oeies up 10 the same dime last yea.
Il does not look as though siGt
prices we're checking tie buying
On the other hand the conm:tmenc
70. October ard November ship
ment we believe are larger than the,
have been IN many years and NJ
expect the cotton coming Oh ,ht
|. market 20 be we,l taken care OF.
i In their confusion manufacturer
seem desirous Of circulating rumor
lot curtailment and We are Surpris
eG 20 note with a SenSatiooa! d!Spla.
, OF headline the Journal OF CoMlnt-c'
, announcement this morning as fol
lows: Worldwide cu.tailment i
proposed il cotton. ArkwTisat Clul
Of Boston securing signatures 10 a.
agreement among American mills Z
curtail 224 working hours befor
August FIRST. Agreement 70 20 Int
effect when az many as 100000
sp!ndles have signed up.
This sounds terrible. at fCst blus!
, enough TO shock the nerve OF "a.
bull. but just ana!yze ], and You vii
see that !. means a possible but 40
a probable curta!!ment il wovs:1!
time OF So minutes per day; csdac
ton in consumption OF possibly ll3.
:, 900 bales but probably not more thar
so. 900 TO 5000 bales. ell depeadin;
, on the numbe. OF spiodles that g
into the agreement aad :he size yaE;
which they manufacture.
This same curta!!meat thTea: na
been working against the bH.!a II
England for the last S 70 nonth
l-.uantng short time. reducing con
sumption and product ye; We e1
. ported last year. the frst year ate
the panic. approximately S.500.00'
bales OF cotton.
:. There is no question IN our mtnt
but what there will be cur.a!lmen
before the end OF the season OF 1903
no or that is before Sept lst. 1910
but 4, vii! be because the MILLS can
no, get the cotton and no; becaus.
they cannot pay the price.
While these mills in the East anc
some & other places are speakins
of closing down. less than Ell hou;
"a day. We know OF some mills tha
are preparing 70 run c!ght and day
bu, the: are not trying TO make
agreements and they are not making
any parade Of L.
II seems to be the habit Just now
toc manufacturers 10 complain bu,
as the price OF yarns has been ad
vanced within the last week and the
price OF standard blesched goods. and
almost all lines OF nauuisc.u9ei pro
duct have been advanced about l.:
cent yard which Is e9uiralen!
20 to cents pound IN raw COZ
toni as compared with prices OF las;
week. the manufacturer Is not tad
ing very much sympathy
After the recent advance there was
for several days during the week
very heavy liquidation: the market
! declined to around g cents Just at
the time when the advance IN the
manufactured goods was announced.
This seemed 20 encourage business
materially and there was evidence
OF free buying from sp!nnecs. The
market had been relieved OF large
long interest which was !eA6y 10 o'ty
on any decline or advance aad its
| technical position was decidedly i'm
proved.
This is the chance OF the season
ta- m. hears TO bring about their