Arizona republican., 1921-04-29

1919-1920 45,0s2 302, 2,5s4
 Recent consumption figures show ing why our lack of demand: March, 1921, 1909 bales of Sea Is- lands, 9705 bales of Egyptians and 947 bales of Pima cotton.
 March showed an improvement over recent. months.
 The consumption for the eight months from Aug. to March 31:
 Sea Islands. 13,7s5.
 Pimas, 92Ss.
 Egyptians, figures were not at hand but were below past averages.
 The stocks on hand in this country at the end of March show: Egyptians, 143.716.
 Sea Islands, 15,731. Pimas, 54,794.
 These figures do not include cotton in transit, in private storage or on plantations. They are merely the sum of the cotton in consuming es- tablishments, in public storage and at congresses.
 My object in quoting statistics is 10 give you the rate of consumption and present stocks in order to show one of the reasons why we have not had better demand up to the present. When you consider that the stocks were mostly bought at the high prices of last year and that all mills holding these stocks have had to write off enormous losses on them, you can realize to what extent other parts of the industry have suffered along with the farmer. Decline in values to the extent of over $50,000.000 on stocks nd ade SfnPlxS a hla yiar
 weight than they would have been if
 only number of bales had to be con- sidered Newspaper quotations, even trade papers, are often misleading. especially on long staple cotton. l where the demand is not constant
 and there are no authorized quota l tions on an exchange. Actual sales make the market and in conditions like the present there is bound to be
 a variation in the price that different mills can pay. The thread trade, the ! tire trade, the fine goods trade, are i apt now to be working under totally
 different and varying conditions.
 The following prices represent ac- i tual firm offers and last sales for
 various cottons competing with | Pima:
 Sak Egyptians-For quality bought largely by the tire trade in this coun- try, 2S cents to 291a cents, delivered to Eastern mills.
 !, For thread quality and the highest quality imported in the United States ] 32 cents to 34 cents, delivered East [ ern mills.
 : American Staples-Strict middlins
 1L, 26 cents delivered to Easterr mills.
 : Strict middling 1is, quoted 90 cent: ; to S2 cents. No demand at this price Sea Islands-Average extra choic, (equaI extra Pimas) offered at A cents delivered Eastern mills. Las
 sales 34 cents for full choice tequa : choice Pimas) delivered Easterr mills.
 Pimas-Last sales at 34 cents de. livered Eastern mills for extra N,
 demand for choice and below. , In England:
 Sak Egyptians of equal qualit,
 with extra Pima, 2 pence. Pima cal
 be delivered to England at p penc 2 based on 30 cents here. Thus we ar r nearer together on offers to Englan, l than at any time this season. due t' e freight rates being lower and ex
 change rates being higher. e One would think that the cost O t getting Egyptians. to this countr.
 --~..ta t- e~or- N't ocean froi.-.l [.
 from Alexandria 10 Eastern mi |, points are much cheaper than our raj :. or rail and water rates from Phoeni
 to the same mill points. f The sooner congress accepts or re d jects the emergency tariff the bette @ off business is going to be. Min F cannot get business based on a tariff - tax until it is certain that it will b s passed. Telegrams from the East to < day read, Mills afraid to buy Egyp s tians until something definite abou a tax" All Egyptians arel now bein . offered subject to tax if any bein a paid on this end. Likewise they can s not accept business on Pima with as ' surance that present prices will b !, possible under the tariff. ', There has been a better deman
 recently. but the demand has by n
 means been general and has been fo D. moderate quantities. The deman e has. however, not been confined [ - one class of trade. and I sincerel B. trust that this means an improve 's demand as 500 mas the tariff questio % Is settled
 TT Just one thing more. Do not mis 10 coustrue anything that have said. 's have given you actual facts and in ID situation as it exists today. l. lik !. all of you. will be more conteute .- and happier with higher prices rc 'r cotton. which hope will be soon. . have lived through 25 years of opiu 'o ions, aud have learned to value opin
 ions only as euesscs. therefore le think best to express none.