The Washington herald., 1921-08-07
COTTON'S
STIMULATES HOPE
THROUGH SOUTH
Government Estimate Is
Greatly Below Expec-
tations.
BOIL WEEVILS BUSY
Statistics of Carry-Over Also
Held 10 Improve Crops
Condition,
(special corTespondencs Of The waakinrtss
Herald and New York Eventnr Pest)

(special CerIespondenos ef The washinrtss
Herald and New York Evening Pest)
MEMPHIS, Aug. 6-HopeE of
higher prices for cotton have been
stimulated by the crop condition
figures from the Department Of
Agriculture at Washington and by
Hester's statistics from New Or
leans on the csrry-over Of cotton.
Both were below expectations and
are expected TO have considerable
effect on sentiment among manu-
facturers, as well as the ultimate
consumers Of cotton.
The trade was evidently misled
as TO the crops condition by the
failure to examine more closely the
fruiting Of the plant and TO give
proper consideration TO the rsvages
of the weevil. Particularly was
this true Of this territory. although
IL is notable that the percentage Of
condition for the district OF which
this is the center was given as
higher than anywhere in the belt.
This tended To bias expectations,
although there is an element OF
suspicion that the reports turned
in by some Of the agents Of the
department were Influenced by the
urgent need of making the outlook
appear as poor as possible in order
to help sustain values.
Boil weeyIIs are Active.
The deterioration for July. ac-
cording 10 the official report. hav-
| ing been as percent, compared with
a normal of % per cent. has served
TO direct attention 10 the probabii-
tiles OF what August will show.
The average for the current month
is ~ per cent. but il is hardly ex-
pected il will be that much this
1 season. starting from such a low
condition. However. there is fresh
reliance among those who are be-
I lievers in higher prices in the abil-
! ity Of the boil weevil to play havoc
and reports are alreay coming in
telling of its activities. Another
factor receiving emphasis is that
fruiting is disappointing. all OF
which is just on the eve of the
time when shedding is normally 20
be expected.
Carry-over Less Than Expected
The Hester figures on the amount
carried over from the old to the
present season. $4,000 bales. are
regarded as large, but current ideas
among the producers and the trade
in general had been for them 20 be
nearer 100000. II is admittsS
that the prospect is for no scarcity
of raw material. even IL the indi-
Gated prospects for the years crop
are further reduced, but more con-
ndence is felt in the probability
they have been. and perhaps they
may work up several cents q pound.
This is the favorable factor now
permeating opinions in the trade.
1t is too early yet TO see what
effect the reports will have on the
attitude of the spinners, but al
ready there has been a stineninS
of value ideas among the producers
and those who hold the unsold
stocks. Inquiry for the actual con-
tinues small, but there is more will
| ingness TO meet the quotations
asked for lots that are for sale.
| Feeling of optimism as TO finan-
cial conditions is also a factor con-
tributing TO the attitude Of inde-
pendence among the producers. al
though it is not expected IL will cE-
tend TO the degree that they will
not market the crop as il comes
to hand in the fall. T. middlinE
upland cotton should 60 Ip several
cents a pound or eNlh remain
around II or l2 cents. tlere would
be much stimulation 10 business.
for the cost of production has been
greatly reduced and the policies of
thrift and economy. together with
the satisfactory yields OF food and
feed crops. will count heavily in
laying the basis for returning pros
peritY.