The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1919-11-05
GERMANY is BUYING
MUCH COTTON
This is Given as One Reason for the
Recent Advance.

Recent Advance.
The following is from The New
York Times:
Large German purchases Of the bet
ter grades of American cotton, it was
learned yesterday, have been one Of
the principal reasons for the recent
advance in price in South
crn markets, especially in Texas,
where the best grades are to be had
and where spot cotton has sold above
40 cents a pound for the first time
since the civil war.
1t was estimated by men in the cot
ton trade yesterday that more than
900 bales Of choice grades had
been bought by Germans or German
agents since the present cotton sea
son began on Aug. /, and Of this total
probably more than 2oU,OUO Daics al
ready have been exported. On Monday
more than 10000 bales were shipped
out Of Savannah direct to Hamburg
making the total of direct shipments
to German ports since August |, some
thing more than 100000 bales. In adj
dition, it is believed that at least l50,-
900 bales have been sent to Germany
by way OF neutral countries, and it is
understood that much more will be
exported within few weeks.
Gcrmany's purchases Of American
cotton, according to trade authorities,
have been considerably larger in the
last two months than those Of any
other foreign country except England.
On direct shipment France has taken
only $1,000 bales SO far, while exports
to England have amounted to about
470, 900 bales. The Germans, it is said,
have been buying only the better grade
and apparently are not haggling ov-
or prices, for reports from the South
say the German interests have been
buying more aggrcSsivcly in the last
few days than a month or so ago,
when prices were $l5 to $40 bale
lower than they arc now.
| NO large credits have been arrang-
cd here for the benefit Of German
importers, so far as is known, but
it is understood that some private
credits have been provided and also
that many American exporters have
set plans afoot to use their own credit
in assisting the movement. Remit
tances from Germany have been com
ing in in rather large volume recent
~ which is one Of the reasons ascrib
ed for the steady decline in the quo
tation for rcichsmarks, which ycstcr
day fell to a new low record Of abou
. 3 l-10 cents to the mark.
However, it is understood that tn
principal eXpcdient used thus far /
financing exports OF cotton to Gor
many has been credits secured b
Germans in neutral European coun
tries. Germany, according to report:
has been exporting raw materials an
some finished goods to the Scand
naVian countries and to Holland, an
in return for these has received Gre
dts which have been used i'm tn
, United States The volume of bus
ness done in this way, ii is said ha
run to many millions OF dollars an
has allowed German importers to bu
goods here, chiefly cotton, without SUI
fcring unduly on account of their d,
prcciated exchange.
Most of the cotton forwarded to Gcl
' many and to the European ncutra
has not gone through the Port Of Ne
York. On the contrary, the great bul
b Of the business has been moved fro
Galveston New Orleans and Saval
nah, where 1t is received from the b
Southern spot markets.