The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-03-14
THE j. 5. MUST
SUPPLY COTTON
MEETING AT MANCHESTER. EN-.
GLAND. WHEN STAPLE or UNIT.
EO STATES is RULED ON.


The half.ycarly meeting OF sharehod-
crs in the Manchester Ship Canal was
he'd yesterday in the Memorial hall.
!. X Bythell, the chairman. presided.
The directors report showed tha' the
sh,p canal revenue receipts amounted
t. 2SS.Sj6 pounds. and the expenditure
to l3G.l7O pounds, lea ing "A credit
balance ot 152 Csc pounds.
In his summary Of the work Of the
past year. Mr. Bythcll. In part. said:
The impression on my mind at pres
cnt IS that although an Improvement
has set in iu some quarters and seems
likely to continue, We ave not vet
ON the eve Of boom Ia nearly every
class OF trade. Locally, as you know.
things do not look particularly en.
couraging. Our staple trade has been
I'm somewhat unfortunate condition
for some timo. and there does no;
seem much sign of improvement at
the present time. With Il very short
supply of cotton both from America
and Egypt. with prices consequently
on very high basis and with all the
consuming markets OF the world very
slow indeed to respond TO the advance
II Is not at all surprising that our
mills are on short time
Whenever rapid rise takes place
In the price of cotton the prices of
goods in the great consuming markets
in various countries are very slow to
follow. The holders of goods make a
point OF trying TO sell out their stocks
before ordering new supplies at the
greatly enhanced prices. and the con
sequence is that, at any rate until
just lately, since cotton advanced 50
much In price the goods on these mar.
kets were very much below the Man
chester parity and the Manchester
parity was below the cost of produc-
tion II man bought cotton and sold
/ the goods simultaneously. There has
been little more buying lately, but
not enough to keep the trade going
Therefore, have come to the con.
| clusion that short time will probably
be continued for very long period.
/ The quantity OF cotton required TO
keep the worlds spindles going Is so
colossal that It IL only when We havo
an American crop of size which
would have been thought incredible
/ years ago that the splndes can he
kept going.
I'm the season Of ls7i-7J, when
America had practically recovered
from the effects of the war, and had
plenty of labor for picking the cotton.
thoro was crop Of 3,S33.O0o bales,
and the average price OF the standard
quality of midlling American at Liv-
erpool was 7G7d. Ten years later,
lSSi-5. the seasons crop was 5,6G9,-
900 bales and the price 5.7Gd. and in.
crease In production of i7.9 per cent.
Ton years later again, 1875. the crop
was 9.S93 600 bales. and the price was
only 3.4ld. an Increase IN production
as compared with lSSi.5, of 74.5 per
cent, with the price i0S per cent low.
or.
Production then had apparently for
the time being oycrtakon the Consun-
Ing power. Ten years later. l90i-5. the
seasons crop was l3,557.000 bales.
and the price 1894. As compared with
1915, there has been an increase Of
3703 per cent In production. but the
price was 80 per cent higher. show
! ing clearly how much greater the
/ worlds spinning power had become.
/ Now. look AZ the present scpson. be.
/ ginning on Sept. l, last The belief
that tho crop will only yield between
/ ten and eleven million bales, a belief
which seems now 10 be pretty aCca-
/ rate, made these changes IN the
price IN the spring of last year, when
! We had the large crop, middllng
American was as low as i.g3d On
ieS. 81 II had advanced Ia NJUd. The
| following figures will show you the
/ -icat increase that has taken place IN
I the worlds spind!os: 1870. 5S mil
lions; 1898, 81 millions, 1905, ll3 mil
/ lions 1909, l29 millions.
/, is really am. zing that America
should have increased her production
/ OF cotton in the space of 3i years
/ from about 4,n00,0iu bales To the IT,.
/ 0O0.oo0 bales which last seasons crop
/ almost reached. The question OF what
America can DO IN tho future Is very
. important not only Tor this district
/ but for the who'c world, Can Amcri-
/ ca continue 70 increase her produ2-
tiou 10 such an extent rs To kc .
/ going the constantly increasing num-
] her nr .nlnllCS thrOuElOut tho Norldp .