Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1919-04-11
GENERAL COTTON SITUATION
Well Informed Authority Gives Some
Interesting Facts
CONSUMPTION MORE THAN PRODUCTION

i UUNUUml llON HULL luhN uODOOAhON
Everything Points to Ravenous De.
mand from All Over the World, and
If Holders Can Stand Steady, They
Will Win Out.
Charlotte Observer.
Commenting on the statement that
while the production Of cotton has in
| creased only 81 per cent in the last 10
years consumption has increased 60
per cent, N. T. Blackwell, of Dallas,
Texas, editor of The Cotton Oil News,
and recognized as one of the best quail
flied men in the United States to speak
on the cotton situation, who is in
Charlotte en- route from Dallas to New
York, yesterday declared 1t Is his be-
lief that the demand for cotton this
year will be greater than ever before.
Mr. Blackwell said he believes the
price of cotton will go up this year
whether the farmers reduce their
acreage or not and with a reduced
acreage a greater increase in price
may be expected. He pointed out
during the conversation, however, that
the farmer is making no greater pro-
fit on the staple today at 80 cents than
he did three or four years ago at IL
cents.
Mr.. Blackwell spoke yesterday even
ing at a meeting Of the members Of
tho Southern Manufacturers club max
ing statements similar to those in the
following interview which he granted
to a representative Of The Charlotte
Observer. He has travelled through
out the United States and Europe, and
is widely known as an editor and
thoroughly qualified speaker on cot
ton throughout this and foreign coun-
tries.
In his interview he had the follow
ing to say regarding the cotton sit
uation in the south, pointing out that
with the exception Of Louisiana, Ala
bama and Mississippi, the reduction
of acreage in the cotton states this
year will be heavy:
when we consider that the con.
sumption of cotton has increased 60
per cent and the increase in produc-
ton has been only 81 per cent in the
past Is years we have a. very bullish
basis of supply and demand to be-
gin with. If we exported 100000
bales of the 1928 crop and S,0OO,-
600 bales of the 1894 crop, with
Germany and Austria blockaded, at a
time when the world must have had
some surplus stock Of both cotton and
cotton goods, what must be the acute
famine in both raw cotton and manu-
factured cotton goods today? 1t must
also be remembered that we are just
finishing the fourth consecutive short
crop, with no prospect Of much
larger production from the 1918 plant
ing than the largest of the four pre-
ceding years. 1t Is therefore apparent
that with the peace and the restora-
ton of unrestricted commercial in
tercourse with all the world that we
must look for the largest consumption
in the history of the world for at least
five years to come-most assuredly far
in excess of the supply which the south
can produce on an acreage limited by
high priced grain and meat as well as
labor and the ravages of the boil Wee
vii.
81 was in Turkey and Italy in the
summer of 1913 and both countries
were buying cotton ravenously, not
withstanding that both countries had
Just come out Of the war broke. My
information from very reliable Ger
man in San Antonio who was in Ger
many not over year and a half ago
is that three great banks which con-
troll the finances Of Germany have
more money now than when Ger
many went into the war and that Ger
man and Austrian cotton mills are
ready to run to capacity as soon as
they can get the raw cotton and have
the money ready to pay for it. That
the finances Of semi official Germany
are in excellent condition is also at
tested by Francis F. Marcosson, the
we'll known writer and lecturer.
"The above are a few Of the rea-
sons why l am more bullish on cot
ton than at any time in the past 20
years.
81 have Just travelled extensively in
Texas, Oklahoma, Louisiana and Ala
bama and find conditions very en-
couraging. The banks have more
money in the sections through which
I have travelled than ever in their
history. The reduction Of acreage in
all the states except Louisiana, Ala
bama and possibly Mississippi will be
heavy. The big acreage in winter
wheat in both Texas and Oklahoma
insures the reduction in those states.
The fact that the acreage In the grain
belt heretofore planted to corn will be
reduced by winter wheat Is a big fac
tor in cotton acreage reduction in the
south. Farmers fear that they might
have to buy high priced grain and
meat with low priced cotton, if they did
not plant heavily of corn and other
feedstuff.
II have made very dilisent inquiry
of bankers, farmers and merchants
everywhere and find that there is
ample money for carrying the remain
der of the crop indefinitely and no
pressure to sell anywhere. In fact, 1t
is my opinion that the cotton inter-
ests of the south are beginning to rea-
lize that the only way to market
crop and market it successfully and
intellgently is to sell 1t In II months
time as the trade requires 1t instead
of in four to six months as formerly
The salvation of the south in the past
| .>.o-+l, hoe haan lra tn tha fact