Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1921-12-24
BRITISH MILLSlN
NEED OF COTTON

NEW YORK, Dec. 26. - Henry
Clews & Co., New York brokers', have
issued the following report on the
cotton trade situation:
Under the influence of generally
favorable underlying conditions, such
as the continued strength of the spot
markets and improved local technical
situation, the sharp decline in con
tract values that Immediately follow
ed the publication of the bureaus
crop estimate was fully recovered.
Exports have been resumed on
comp Faratively heavy scale with pros
poets for a continued large outward
movement from Southern ports. Brit
ish spinners are believed to hold only
small reserve supplies of the raw ma
teriaf owing to the procrastinating
policy pursued in hopes of striking
lower buying basis, and ewing to
the increased rate of consumption.
Most of the English mills will sooner
or later of necessity be compelled to
buy more freely. Both our foreign
and domestic cotton manufacturers
appear to realize the difficulty that
might be experienced in securing he
sirable spinning cotton with stocks
running down and supplies from pri-
mary interior points of the cotton
belt limited to the small amount re-
naming unsold or not hedged with
contract sales. The worlds produc
tion commercial cotton this season is
placed at 1858 900 bales in a re-
port of the Department of Agricul-
ture. This is the smallest supply
since 1900 and fully 5000 bales less
than in 1920, when 20,650,000 bales
were produced.
| The cotton crop in some foreign
countries, Russia, China, South
America and Mexico, which do not
figure much commercially, are also
reported smaller than usual this
year. The Census Bureau report
placed the amount ginned to Decem-
/ Der ~ at 7,799,458 bales, as com
pared with 10,876,2 last year, and
! 9,396,646 the year before. The con.
spicuous feature of the returns is
the sharp decrease for the period as
compared with the previous two
weeks, which leads to the conviction
/ in some quarters Of the cotton and
cotton goods trade that the fina
yield will be we'll within the govern.
ment's figures. The quantity ginned
so far would leave over $4,000
bales to be prepared for market from
the interior points during the balance
of the season to equal the bureaus
estimate. The print cloth market:
are steady with only small busines!
doing on the basis of 3-4c for 38 / s
inch 64x60s
Wholesale dry goods markets arr
quiet, as usual during inventory time
but the trade expects a resumption
of business soon after the turn O1
the year. The recent buying By
jobbers and small merchants ha
been barely sufficient to meet thu
immediate requirements of the holi
day trade and both Eastern ant
Southern mills owners appear conf
dent of steady demand for cottor
! goods during the balance of the sea
son. The outlook, based on presen
and prospective textile trade condi
tions, is therefore very favorable TO,
continuation of mill activity in al
sections of the United States. Th'
| Improvement in foreign exchange i
now accepted as an indication o
business revival and progress towart
a restoration of normal trade con
ditions. With larger proportion o
the crop marketed to date than il
4 any previous year, and the movemen
to limit the area devoted to cottol
rext spring already started, there i
every prospect that spot holders il
the South will hold out for ful
prices. While the prospects for lonj
run appear to favor higher price lev
y, els, no increased activity is expect
ed in the contract or spot trading
until after the holidays with tn
chances in favor of purchases mad
on all fair setbacks. On the othe
hand, sharp advances are likely t
attract a fair amount of realizin