The Lee County journal. (Leesburg, Ga.) 1904-19??, 1909-05-07
COTTON is ADVANCING
Reduced Acreage and a Short
Crop Expected.
GENERAL TRADE IMPROVING
Consumption Of Cotton This Year, Il Is
Claimed, VIII Be Record Breaker,
Causing the Price to Soar.


New York City.-Prices Of cotton
after some irregularity, have lately adj
vanced under the stimulus Of renewed
activity on the part Of bull spectators
in Chicago and The west generally, In
Wall street and at the soulh. Liverpool
also has bought. The outside public
seems to be attracted to cotton. Peo-
pie believe cotton is purchase Der
cause they think that the season is
one to three weeks late, and tnar the
chances are against big yield this
year unless conditions from now on
are exceptionally favorable.
General trade is gradually impTov-
ing, and the bulls think cotton Is
bound to share In the improvement.
They think the chances point TO q
moderate or small crop, while there
is reasonable certainty of big con-
sumption. In the last four years crops
of l3,500,000 bales and above have
been succeeded by crops Of 100000
to 100000 bales smaller. Why not
this year? reason the bulls. Now
and then 1t is true two big crops come
together. That was the case in the
seasons of 1928 and 1S9S.99, when
what were then the high record yields
of 100000 bales or over were raised.
But the crop of 1904-05 or 13,565,e00
bales was followed the next year by
one Of only 11,345,000 bales. Similar
~ the crop of 1906s07 of 1851 900
bales was succeeded by one Of only
11,571 900 bales. This, in turn, was
succeeded In the present season by
one which is ordinarily calculated to
be 13,500,000 bales or whereabouts.
The question arises: Is the expert
ence Of 1907-0S and, that Of 1905t06I
with their crops of ,11,345,000 to IL,
.571 600 following yields Of 13,5000,00O
and above to be repeated this season?
The answer to that question may
mean hundreds Of millions to the
south.
Meantime, although the receipts are
large, 1t Is assumed that this merely
indicates recent large buying at the
south. An estimate on the acreage
puts 1t at 8 per cent less than THAI or
|. last year. At this time the concen-
sus Of opinion is that whether on ac-
count of bad start or OF expected
ravages by boil weevil or from cut
ting down Of the area on account OF
the tempting prices for grain the pres
ent acreage will be somewhat curtdil-
ed. One report puts the reduction at
16 per cent in Louisiana, / per cent
in Oklahoma, in Arkansas, 5 in Mis-
sissippi and 2 in South Carolina, Geor-
gia and Alabama. There Is no little
alarm in Louisiana over the boil vice.
vii.
On the other hand mill stocks in
Europe are reported to be liberal, and
Europe's trade is not all that could
be desired. For that matter, although
the yarn business in this country
has somewhat improved, the revival
Of trade in most cotton fabrics, though
it has made some progress, is rather
slower than had been expected. Tex
as has yet time to retrieve the late
ness of the season. The Eastern Gulf
States which at one time had rather
too much rain have latterly been IA
vored by fair weather. The big move
ment into sight has also surprised
good many. Spot trade at the south
at times has shown lull, and the
same may be said Of Liverpool, But,
taken all and ALL the statistical and
trade situation is considered by many
to be OF the kind to favor transac-
tons for rise and speculation has,
within few days, broadened percep-
tfbly. The National Ginners' AGsoci-
alton estimates a reduction In the
acreage Of 6 per cent.