The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1917-06-25
THE NEW STORY OF COTTON
25-Cent Cotton Has Brought About an
Acute Situation in the Liverpool
Market

manufacturers are perturbed over tie
high price and they are adopting
measures with a view to stopping
the upward trend. This partially ex
plains the slump Of 81 bale on the
New York Cotton Exchange on We'd
nesday.
The soaring of the price of cotton
last week caused CONSERVATION on
the Liverpool market and the Ex-
change closed pending conferences
| between cotton exchange officials and
the British Board of Trade. The re-
suit Of the conferences seems to have
ldlecked the price ard excited the
New York market to the point that
it sent cotton down ST. bale from
the high records established on last
range, all the way from $3.50. for
| October to 27 for March. the high
est.
However, in spite Of the slump,
/ the New York market closed We'd
nesday considerably above Is cents,
the actual figures being: January,
1853; March, 25.79; July 1854; Dc
tober, 24.43; December, 1854. The
fact is, cotton during last week in
New York reached higher eleva-
ton than has ever been known since
the establishment of the cotton sea
son in 1825-1826, with the exception
of the Civil War period when the
fleecy staple reached as high as $1.89
a pound. This war story of cotton
reads like romance, hence the re-
view of the New York Commercial
and Financial Chronicle Of June 16
will be found exceedingly interesting.
That great journal says:
Cotton, already ruling at very
high level Of value, has made de-
cided further advance this week,
making the current quotations for
middling uplands in the local market
the highest reached, with the excep-
ton Of the period from May "a to
July 8, 1872, since December, 1869.
Concurrently, there has been con-
siderable rise in prices at Liverpool
with the quotations for the latter
part of the present week much above
those for any time since April, 1866.
1t was to have been expected that
with the crop of 1856, very short
one from the area planted (the Cen
sus Bureau reporting the growth as
only 11,449,930 500-pound bales of
lint and about 1,225,000 bales of lin
tiers, or little over twelve and a
Hall mlllloH UdleS LII dilJ, oiNA SoA-
: sumption in this country on re-
eo1dbA eal}Fg tsat,' promising 'to
?. reach for the full year close to Z
g 100000 bales, the value of the staple
e would appreciate considerably. Bpt,
g except among those to whom the wish
It had been father to the thought, there
IS had been little disposition to look
% upon 25c per pound as a level pos
:eI sible of attainment. 1t has not only
1T been attained, however, but exceed.
W ed. At the same time the demand
Is for cotton goods here continues &C
ie, tive, as prices steadily advancing te
If meet the increased cost of the staple
~ the orders placed or to be placed BY
es the government on the basis Of cos1
at Of manufacture and an allowed per
ut centage to cover profit, being no un
= important factor in the situation.
C. "While in the United States tn
d. extraordinary advance in the price O
re, the staple has had no appreciate eft
~ feet on the demand for goods, disor
en- ganization Of the cotton goods trad
er in Great Britain is feared as a re
C. suit of it. In fact, Sir Charles Mar
cara, one Of the most prominent o
the English manufacturers, Ills re
ported as saying that the crisis j
OF the most serious in years and dc
"a mands immediate action on the pal
mt of the industry. He advocates ger
at eral shortening of the working hour
lg- even to the extent of half time.
at: Giving a concise idea Of how hig
nd current prices for cotton really ar
ply we note that at no time from tt
), opening of the cotton season of 1872
me 26 down to the breaking out of tt
lex Civil War did the quotation go abo,
me 20 cents per pound, and much of Il
as time was we'll under 10 cents. II
le,s war with the consequent very markt
cry restrictions of supplies, was reflec
90, ed in a tremendous advance at Ne
the York, $1.89 per pound being reach'
all August %, 1864. From that lew
. est however, that was quite steady ar
est and in April, 1871, middling upla1
as years there have been limited p
GER rods of comparatively very hi.
was prices, but as rule they have be-
art the result of manipulatory tacti'
ga, as in 1904 when the price rose to II.
eral cents and in 1910 when the 1875 ce
ing level was reached"
We observe in the second par
az graph Of the Commercial and Fina
var cial Chronicles review that the sit
ing alton in Tivernool IN Wednesday c
one 10 occonn+ed for e;nco f. is ON
ers. evident that action has been tax
can ~ M . cr;nn in +l,e so:.r;no mr.
and ~, rot+on
ece' The news from the cotton markt
- will be particularly interesting
~ the next few days, for we shall S
" whether Liverpool can control t
= price, or whether or not the "
ID measures now befoe the Unit
IN States Congress will enable our o
price-fixing authorities to finally
the price of cotton as well as
He prices of other commodities DUR