The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1909-10-20
COTTON REPORT

Given Out by Carpenter, Baggot &
Co., Of New York.
New York, Friday. Oct. 8.-Neces-
sity is proving the mother Of inven-
ton with many manufacturers.
The passing Of the Governments
glnners' report showing that 2.562.
900 bales had been ginned up to the
25th Of September compared with
2,5sO,0O0 last year and 2.365.000
in 1s05-0S when the crop was under
100000 bales exclusive Of lint
ers.
These ffures we're construed as
very bullish when taken into con-
sideration advices from every source
describing this crop as prem aturely
opened and the completion OF pick
ing predicted by the middle Of Oe-
tober from many sections.
Following this at noon on the
same day the Government issued It's
condition report showing the aver
age condition as Of Sept. 25th at
5S.5. This compares with 63.7 last
month and shows a deterioration of
So, and with the exception of a re-
port OF .58.3 in 1902. this is the low
est for many years If not Of record,
and, of course. is construed as ex-
tremely bullish.
We do not make any crop esti'
mate-we do not compile any figures,
but, Of curose, through Four own
sources Of information we form our
own conclusions. and We are led to
believe by the Information before
US at this time that the crop will
be about 1o,600.000 bales. or to put
it conservatively will range well un'
der IL, 900 bales.
The issuing of the Governments
report Of 68.5 SO fully confirmed
previous advices to the manufacture
ers that it caused some confusion
They have doubted the private ad'
vices that had gone out from time
10 time and. have been led to be-
licve by pessimists that this marke'
was sure to decline during the rusf
movement, but up to this time they
have failed to realize more than &
temporary setback, Notwithstanding
the fact that 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 5000
bales up to the same time last year
, 1t does not look as though higt
l prices were checking the: buying
On the other hand the commitment:
) for October and November ship
mont We believe are larger than the!
? have been in many years and W
expect the cotton coming on the
market to he well taken care of.
In their confusion manufacturer
seem desirous Of circulating rumor'
of curtailment and We are surpris
ed to note with q sensational displa!
} of headline the Journal Of Commerce
announcement this morning as fol
lows: Worldwide curtailment l!
proposed in cotton. Arkwright Clut
of Boston securing signatures to al
agreement among American mills t
curtail 224 working hours before
; August first. Agreement to, go into
. effect when as many as T000,00(
spindles have signed up.
: This sounds terrible, at first blush
enough to shock the nerve Of an!
t bull, but just analyze II and you viii
see that it means a possible nut no
a probable curtailment in working
time OF SIS minutes per day; a rsdlc
ton in consumption Of possibly ll3,
, 900 bales but probably not more thar
60, 900 to $4,000 bales, all depending
on the number Of spindles that g
into the agreement and the size yarr
: which they manufacture.
This same curtailment threat nal
been working against the bulls II
= England for the last 6 10 3 months
running short time, reducing con
: sumption and product yet we ex
t ported last year, the first year afte1
, the panic, approximately ~S,500,o0(
bales of cotton.
: There is no question In our mine
but what there will be curtailmen
J before tho end Of the season Of 1909
10 or that is before Sept. list, 1910
but 1t will DO because the mills can
not get the cotton and not because
they cannot pay tho price.
While these mills in the East anc
some in other places are speaking
, Of closing down, less than all hour
a day. we know Of some mills tha'
are preparing to run night and day
but they are not trying to make
agreements and they are not making
any parade of il.
1t seems to be the habit just now
for manufacturers to complain but
as the price Of yarns has been ad'
vanced within the last week and the
price of standard bleached goods. and
almost all lines Of manufactured pro-
duct have been advanced about IL
cent a yard( which is equivalent
to 2 to 3 cents a pound in raw cot
tom as compared with prices of last
week, the manufacturer is not find
ing very much sympathy
After the recent advance there was
for several days during the week
very heavy l%iquidation; the market
declined to around 13 cents just al