The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1919-07-17

cotton as of July 3, 1919 in bales:
Liverpool stock $4,000
Manchester stock $4,000
Continental stock ---- ---- 225,O0O
American afoat for Eu-
rome 435,S96
n s. port stock. go. 1,25S,4S4
T. s, interior stock 49,. 1,O27,232
II s. exports today -. 1885
Total American .... 49,. 3,409,947
This visible supply will, of course,
be very materially reduced at the
present rate of consumption before
the close of the present cotton year
ending July 81, 1919.
Total amount of cotton carried
over from year closing July 81, 1919
into year opening August 1, 1919,
100000 bales.
Production of cotton from growing
crop as shown by government estl-
mate, approximately 10,960, to-
tai 13,660,000 bales.
Consumption.
A painstaking investigation con-
vinces us that the countries named
below will finance and consume the
following amount of cotton; however,
this only represents the pressing and
absolutely necessary demand which
amount will be consumed as shown in
bales:
United States will require $780,
900.
Europe will require 100000.
Other countries of the world in
cluding Japan, will require 100000.
Total absolutely necessary require
ments, 21,000,000.
This will show shortage in supply
of 7,340,O00 bales.
(See paragraph following headed
<sImportant," which swells this total
to e,o5O,O00 bales).
In this estimate we have shown Eu-
rope far below her requirements. Eu-
rope shows a shortage OF cotton
bought in the last four years as COM
pared with the previous four years
of 15,s35,437 bales.
Japan will certainly make des-
perate effort to secure an amount of
raw cotton far in excess of the amount
consumed during the present year.
Important: In the above estimate
we have shown the government estl-
mate as to the production of cotton
amounting to approximately 1O,96O,-
600 bales. With information before
us as to the abandonment of acreage
we find as a result Of very careful
investigation and recheck that the
abandonment is 81 per cent. The
government condition report was the
lowest in II years. With information
before us as to acreage and condition,
we consider a crop of 1O,O0O,O00
bales a liberal estimate, and taking
this from the government estimate,
shows a difference of 100000 bales.
Adding this amount to the above
shortage in supply Of 100000
bales, make total shortage before
the 1920 crop becomes available OF
S,s00,oo0 bales.
Concerning the visible supply OF
cotton shown above, which enters
finally into surplus, it is the unani-
NOUS opinion of our experts that the
visible supply of cotton would be
enormously decreased by an actual
count. This, of course, is caused by
unspinnable cotton, and also by rot
ten cotton due to enormous amount
of cotton being exposed, entirely un-
protected, during the past wet winter
as a result of the acute labor situ-
alton and congested conditions. 1t
is estimated that the decrease from
these conditions will amount to
around 100000 bales. This added
to the shortage of 100000 bales as
shown above, will make total short
age in supply of raw cotton, as cam
pared with the pressing demands, of
9,050,0O0 bales.
More Consumed Than Produced.
We find that regardless ofthe fact
that Europe purchased in the last
four years l. 15,935,437 bales of cotton
less than for the previous four years,
the amazing fact stares us in the
face, that there is still 100000