The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-01-01
COTTON SITUATION
IS STILL NEND|NG
The German Bargain is Reported
on the Market for Big
Things.

NEW YORK, Dec. 3O.-The census
bureaus seventh ginning report OF
the season vas published on Tues
day. 1t indicated ginnings to Deem
Der IL of 13,977,1S9 bales, q new high
record. Ginnings, however, for the
period from December l to December
IL this year were oil 900 bales, slight
ly less than In the big crop year of
1911 when they amounted to $4,000
haiea. The report had little or ne
market effect for the obvious reason
that this years supply has for some
time now been a known quantity and
in market influence will hereafter
play a secondary part to conditions
as they develop affecting next years
supply. The week has witnessed the
heaviest foreign buying that has been
seen since business vas resumed on
the exchange. German orders now
predominant, and houses with Brem-
en- connections have accumulated
large lines. There is every reason to
expect that this buying will continue
for some time to come. 1t will be
recalled that in 1911 when cotton was
selling around 81-2 cents, under the
weight Of a record breaking crop for
that year, 1t was German purchases
that first checked the decline. On
that buying movement Germany took
about 100000 bales. There is no
question from recent Developments
that the German bargain hunter is
in the market again, he Is apparently
confident that whatever the outcome
Of the war may be, German industrial
enterprise will not be destroyed.
Aside from this, however, 1t is noted
that the stocks Of other European
countries are now the smallest on any
corresponding date in years, and this
added to the TACT that most of the OBJ
stacles to exports are removed and
that the foreign demand for cotton is
growing at q time when 1t should be
slackening, should before long result
in q statistical position which, consid-
ering the price level, can no longer
be construed as unfavorable to values.
In addition to the export development
the most. important consideration is
the conditions surrounding and lead
|Sng up to next years acreage curtail-
ment. A convention of the commits
sioners OF agriculture of the South
ern States was recently. held at At
lanta. J.. d. Price, commissioner for
Georgia. says: 81 talked with each
one of the commissioners sand asked
them to give me conservative esti-
mates regarding reduced acreage I
I'M inclined to think that from what
they told me that the reduction will
come nearer to so per cent. than 40
per cent. as previously estimated. 1t
is not q question or what the farm
ers want TO. do. but what they have
got to do Judge .Kone. the Texas
commissioner, confirms this by stat
ing that it Is his belief that the cot
ton crop In his State will BIO cut folly
40 per cent. Cotton acreage reduc-
ton Is unau%estionably essential to
the prosperity OF the South and IL Is
reasonable to suppose. with all the
publicity given, that planters have
to a realization, of this fact ami
will act accordingly. The situation
as a whole, b%asically and speculative
ly considered appears to be stronger
now than at any time since business,
was resumed on the exchange. There
is q growing realization that the very
low current prices discount the un-
favorable factors In the situation,
while. on the other hand, increasing
exports and the probability OF O small
crop next year are of sufficient con
structive force to eventually carry
prices to a. higher level. Doubtless
there may DO some hesitation after the
recent recovery in prices, and probab-
ly moderate reactions from time to
time. but everything considered IL IS
reasonable to expect that before long
the upward trend will be resumed.
HENRY CLEWS g. co.