Omaha daily bee., 1921-12-25
Europe Buying
Huge Quantities
OF Cotton Here
Exports From Galveston, Food
Excluded, Exceed Those
Of Port Of New
York.
By HOLLAND.

BY HOLLAND.
The tradition is that Galveston,
Tex, exported in one year raw ma
terial OF a money value which was
larger than the money value OF ex-
ports from New York City. II food
be excluded. Governor Parker OF
Louisiana is reported by New York
friends who have recently seen him
TO be OF the opinion that exports OF
raw material from New Orleans in
this calendar year will exceed in
money value exports from New York
II food be excluded. This raw ma
terial is cotton. 1t may be due in
part TO realization OF the fact that
these two southern ports are rapidly
gaining upon New York so far as the
money value Of exports arc con-
cerned which has stimulated attempts
TO perfect methods by means off
which New York harbor can main
tain its supremacy in the matter Of
exports.
New Orleans busy.
81 all events New orleans has been un-
usually busy this year In exporting raw
cotton. While there are no authentic
figures which tell OF these exports from
New Orleans In quantity or In money
value yet lt has been said here that New
Orleans has been clearing on the average
vessel whose cargo was cotton, every
day In the present year. Whether this
be correct or not there can be no doubt
OF the magnitude OF exports OF cotton
from Louisiana. No small part Of this
cotton reaches Liverpool thence to be
taken to the cotton mills OF Lancashire
where II In manufactured into cotton
goods for which world markets will be
sought. SO. also. Germany Is calling for
more and moro raw cotton which will be
the basis OF her skiliful manufacture of
certain kinds OF cotton goods with which
SHE hopes, to command much OF the mar
kets OF the world because OF her ability
to underselI other makers of cotton goods.
Memphis Has Prestige.
Though New Orleans and Galveston be
communities OF raw material, Memphis
appears to be not only maintaining but
increasing the prestige which 1t has
gained as a marketer OF cotton. Thus.
many miles up tho Mississippi river n
great cotton market has been stablished
at Memphis, while near the mouth Of the
which is named Galveston. an immense
traffic. almost all OF It foreign, 10 now
maintained. New Orleans Is re-
yeallng the stimulus which this large ex-
port OF cotton creates. That Is shown by
the fact that her population which, by
tho census Of 1920 was little under
800. 600. is now estimated at not less than
4bo. 900. SO. also. Memphis, whose popu-
lation was recorded by the census taken
in 1920 nearly 10000. Is presumed
now to be rapidly approaching 100000
Memphis upon the Mississippi is nearly
twice large as Nashville, the flourish
ing city in the east central part Of the
state.
Goes to New England.
When cotton manufacturing upon a
large scale was established In New Eng |
land. chiefly In eastern Massachusetts, and
at Manchester, In New Hampshire. where
plant In the United States tho New Eng
land manufacturers were compelled to re-
ply for their raw cotton upon the Atlantic |
states Of the south and also upon Georgia.
Gradually the New England purchasers OF
cotton approached the Mississippi river |
until at last II was demonstrated that
Memphis is the economic and trade center
for 2 great region in which cotton is
chiefly produced New England has con-
tinued 10 buy In the Memphis market more
and more of the cotton which.n needed
England manufacturers say that BY far
the larger part of the cotton which they
buy for manufacturing purposes Is secured
in the Memphis markets. Therefore the
mid Mississippi valley is. to a considerable
extent, the domestic market in which the
New England manufacturers find the cot
leans and Galveston are the great sx-
porters today Of American cotton.
Information comes from the south that
the indications point 70 . ,ssndiiy IN,
from Germany, possibly also from Japan.
for American cotton. II this be true II
should encourage the cotton planters and
justify the hope that within two or three
years the exports OF cotton will be equal
to the best record ever made. Further
more. should demand Of that kind come
industrial life OF Great Britain and espe-
cially OF Germany.
Payments in Cash.
New Orleans and Galveston shippers of
cotton are receiving prompt payments In
cash. So far as they are concerned no
needed Yet there has been some curios-
ity aroused by these cash payments. the
wonder being how they are made. 1t is
now learned that two three Of the in
ternational banking houses promptly dis
count cotton bills so that the shippers are
able in that way to obtain cash. Then
are shipped across the sea, many OF them
reaching Sweden and Denmark. The
banking houses In that way make settle-
Inents This leads to .,a the presumption Presumption
with Sweden and Denmark whereby much
needed cotton can be secured in this in
direct way by German manufacturers
Copper Men benefited.
One who Is well informed respecting the
revival Of the copper markets and the
growth OF exports of American copper
said this 1nornig that as II is with cash
payments for shipments Of cotton cs 1t
also is with shipments OF copper. The
shippers Of copner are receiving cash for
the raw material which they are now .
selling so rapidly that the surplus copper
which at one time reached probably 1000
000. 600 pounds Is now almost completely {
This well Informed authority I
says that the copper industry Is not to any I
extent advancing credits. Instead Of that
they are securing payments In cash !
through the discount of copper bills by !
1t Is an interesting and significant fact
that with the sudden revival of high I
prices for cotton which took place early :
in the fall there was coincidentiy re,
vfval of the copper markets which had I
been for year or two almost etagnant. I
These raw materials, which are now be- {
ing sold in large quantities to other ma. {
ticns. constitute two OF the fundamental
Industrial activities of the United States.
Chicago Live Stock.
Chicago, Dec 24.-Shippers again
showed active interest in the hog mar
ket and were willing to pay an advance
Of 40 to 15c over Fridays values. Tho
market was CSC higher than last weeks
close. at%
weeks supply $4,000. or about 70. 900 :
less than last week.
Ton for selected light reached 1870
and the bulk Of the supply went at $500
7.s5
with only 200 cattle offered. there
was practically no market. Receipts for
tho week Al. .D0o against $4,000 last week.
Cattle: Common to fair steers. - son
E so; medium TO good short feds. $500
Ts.T5; fair to medium yearlings, $1,000
g o.: medium to good yearlines. 3s.aoM
. 90: good to choice yearlinss. $4,000 0s.7s:
choice to prime yearlings. $e.I5G106o;
Plain to fair heavy steers, $500 S.ao;
pood 10 ehoca heavy steers 81, 0a n 9 90. |