The Montgomery advertiser., 1909-09-01
Present Season Far Be- hind Record. CROPS INDICATED BELOW
 COMMERCIAL NEEDS Prices Expected to be cofrespond-
 ingly High. Cotton Seed wnI BsinE Hasher Fig ares sn Opening and Probably on ThrousA the Ea-
 tire Season.

The first bale of Montgomery Coun- ty cotton of the crop of 1908 was re- ceived in this city on August IT. A bale had been received prior to that from Graceyille. Fla. The first bale of nome cotton received last year was on August 3. and the first received at this point shipped July si. The amount of cotton received in August was 1,Se4 bales, all of which, except 273 bales, was home cotton. For the period of forty years except once the first bale was not received later than this year. That was in 1904 and the date was August 24. The total receipts for that years were 169,024.
 At this date last year the price was around g 1-2 cents, and the higher scale this year indicates belief that the crop as a whole will be far below what the commercial and manufacture ing world need
 The Wall Street Journal in recent issue said:
 .on this basis gfowers of cotton are pretty certain not to get below 12 cents a pound, and maybe as much as 13 cents pound for some of their early marketings. if not for their whole crop. Twelve-cents cotton, or $50 q bale. was the export price in 1904. Thirteen-cents cotton means s65 & bale. The crop of 1I.0Oo,u0o bales at the for mer figure would have a gross value for the cotton belt Of S6s0. s0.seo.UU0. This does not include the value Of cotton seed, which may easily be figured at ss0.00o. 1000. making s76o,000,o00.
 '.The most valuable crop hitherto grown was that of 1y0ss the aggregate value of which was $72I,s46,00O for q yield Of .1S.695,000 bales. The current Al k.. e 900. Such figures as these serve to H. lustrate the commercial position of the Southern cotton growing States. Cot ton has a universal market. The safe of the crop is certain at some price de- termined by competition of consumers in Europe. America and Asia. The cot- ton belt. because of climatic and soil conditions. and because of its peculiar labor power. has a good deal of monop- oly as source of supply Given conn petition in demand and monopoly in supply. the producers of cotton and of cotton seed have one of the best posi- kions in the commerce of the world.
 The conversion of a given amount of labor and capital and natural resources into money value Of such proportions , once every year is an enormous ad- dition to the consuming power of Q community. The crop itself furnishes railway freight averaging about B. oOO,ea0 tons annually for an average land haul of probably 900 miles. But the production of this cotton calls for several times as much tonnage in the for moi fertilizer and implements for equal distances.
 American spinners. from present in- dications, will have to make an outlay Of some $500. 900 for raw cotton to keep their mills running during the crop year beginning September i. 1909. at the rate of 1906 and 1sQ5. This as- sumes & consumption of 6,0O0.pe0 bales on the part of domestic manufacture. Of course, at 12 cents it Is not proba- bie that domestic mills will consume five-eleyenths or even fve-twelfths of the domestic crop. Foreign takings on a low crop may restrict home consum- CTS below the s.000,0e0 limit. But the fact is certain that an equal amount of manufacturing under current prices of cotton will take a much larger outlay of capital than WAS the case last year. Present cotton values also portend higher prices for fabrics. The whole sale and Jobbing trade will De favored by a smaller crop in maintaining prices to ths consuming world at least up to q point where consumption may be checked by advance in these products. Finally. the household budget of every family in the Lsnd will feel the effects, however small 1t may be. of the rising level of cotton values rsulting from Q crop that will be 100000 bales less than the best on record within i've years."
 The total receipts in Montgomery for the year ending August 31. 1909, were less than those of preceding year by s,8a4 bales.
 The following is statement for cot ton year ending last night:
 Stock on hand Sept. 1, 1908. .. 2,s04 Reed. past nve days .. e. .... 1,10i Reed. previously sA SC .........1s7.13A
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 Total . I7f f4o