The daily commonwealth. (Greenwood, Leflore Co., Miss.) 1916-1919, 1916-10-07
THE OLD LAW.
Boston News Bureau, Oct. 3rd.

1t is abundantly clear that, from natural
causes in a double sense, the consuming world will
have to pay considerably more over the near fu-
ture for its garments as well as its food and drink.
While ten-cent milk and siX-cent loaves engross
popular attention, cotton follows wheat in trend,
and for the same reason of lean supply as against
large demand.
Yesterday cotton futures, advancing at ex-
IRENE range nearly a cent a pound, crossed well
beyond II cents, into the territory first made so
notable in the Sully year. The movement re-
Elected the findings in the government report of
a condition Sept. Is of only 56.3, or II points the
ten-year average; a yield per acre of only past
decade; and an indicated crop Of only II ,637 900
bales against an average of 14,25O, 900 bales over
the five years preceding 1915. In 1914 we raised
1915, 900 bales.
From the initial marketing conditions of that
record crop to the present status there has been
q dramatic transformation in cotton. Then "dis-
tress' cotton under the first shock of war and the
vanishing of a 5000, 000-bale Teutonic market
sold under seven cents, or rs per cent. below pro-
duction cost. New cotton is worth" a full dime
more. In those autumn days Of 1914 little pre-
vision of the change was had, when cotton grow
ers' clamor was calling for a $135, 900, 900 loan
pool,-of which only $685. 900 ever was utilized.
The lean state of supply is evident from the
AS"Sot N4V AA ~ S0Ao VI
ment reporting. The causes are interningled in
adverse weather affecting a crop a fortnight late,
weevil damage for three months past the worst
and widest on record, and universally poor fertil-
izing of southern fields. Moreover, while Sep
TENDER deterioration of 40 points was a trife be-
low average loss Of 5.3 points, Oklahoma now re-
ports the earliest frosts in % years.
Hence fears to an early end of the season. The
small crop has, under influence of high prices and
premature boil opening, been picked with uncom-
mon swiftness, nearly half having now come to
market, against an average of one-third at this
season. Will some late customers find not enough
to go round? Cotton bulls think SO.
For against meager supply there is keen de-
mand. The world needs about 5000, 900 bales a
year. American mills are now consuming at rate
Of about $500, 900 bales a year against only 4,754,-
900 In 1910 and in 1911. High prices seem no
more a deterrent to consumption in cotton than
in other staples. Besides military requirements,
not only of a million bales shot out gun muz-
zles but also %instanced in British war office needs
of 1876, 000, 900 yards of cotton cloth in first 20
months of war, there are the keen civilian de-
mands of prosperity in all neutral lands. Labor
is well employed and hence well clad.
The result is that textiles exhibit almost aston
ishing strength. Mills, some short of labor can
not satisfy demands; export trade-now over
double that of 1912-could be much larger if mills
cared. The buyers are now doing the soliciting,
asking for more goods than they took a year back
at much lower figures. Many shelves are bare.
Prices, which advanced IL cent more last month,
are at unheard of modern levels in many lines.
And, at that, it is commended that cotton goods
are still relatively cheaper on all counts than
woolens and silks, the subjects of embargoes and
hence almost sensational shortage as we'll as high
prices.
1t is the old memorable law of supply and de-
mand at work,-more and keener uses for cotton,
as against fewer bales. 4