The Washington herald., 1922-07-31
REVISED COTTON
FIGURES MAY Be
HIGHER, BELIEF
Traders Expect Upward
Revision of Govern
ment Estimates.

MEMPHIS. July so-In spite Of
the fact that II is almost a waste Of
time trying at this period of the
cotton season to figure on what the
crop yield will be, It 10 being freely
indulged in all over the South. and
to some extent elsewhere. To an un-
usual degree the spinning world IL
dependent on this years crop, for
the new season will start with a
greatly diminished surplus and con-
sumption for the past twelve months
has been on q scale several millions
OF bales over the past seasons pro-
duction. It seems entirely reason
able to anticipate consumption for
another year to be as large or larg-
er. IL there is not an ascension of
prices to levels which will cut ma
terially into what the world wants
to use
The statistics have grown more
bullish than expected. and those
which are soon to be issued for the
season Of 1s21-1s22 are expected to
show that from a carryover or
something over 100000 bales Of
American cotton one year ago there
has been a dropping to 100000 Or
less. this scattered over various
parts OF the world. Such an amount
Is regarded as quite small, espe-
cially as some Of IL is thought to
be very poor in quality and hardly
fit for use
WeevfI . Large Fsctor.
With the boil weevil a larger fac
tor than ever before in the cotton
belt and the time having arrived
when definite information may be
had as to how much hurt he will
do TO the crop. there is a widespread
effort to get at this information
just as quickly and with as much
definiteness as possible. 1t Is gen.
orally admitted that the actual
damage to this date is much less
than expected. taking into account
when prices rose so easily some
time ago. The greatest effort ever
made to combat the pest and grow
a crop in spite of the earlier and
greater infestation has been and
is still being made. The trade
reaches an argument stage when
trying to determine with how much
success thus far. although there
has recently been a tendency to
enlarge yield expectations slightly
in some of the best producing Sec
tions
The month has brought better
weather conditions than usual for
cultivation and growth of the crop.
and the coming reports on condi-
tion. first. from private sources,
and then on August 1 the one from
the government experts. are expect
! ed to indicate increased yields.
Little Crop Damage I'm July.
July normally is a time for the
crop to lose condition. and this year
| 1t was expected to be sure, because
the weevil were so much earlier and
more numerous. But there has been
less than the usual deterioration,
| and apparently enlarged expecta-
lions are justified. although there
is ample time left yet for the wee
| vii to make serious and liberal in
roads on the fruitage. Last season
she pest did not begin to make his
presence felt to any great degree
until after August l. and in many
sections this season the crop is not
earlier. IL as early. as II was then.
While still more or less vague.
IDEAS as to condition now prevalent
are for the figures to be one or two
points better than the 7e.1 of June
25, with guesses as to yield between
II 100000 and 100000 bales. al
though the latter figure would
scarcely be regarded as supplying
reason for any large decline in
values. 1t is admitted by some of
the smartest and best Informed
business folk in the South that a
price of 20 cents on the farm for
such a crop would mean good busi-
ness conditions while higher prices
would bring a proportionate better
ment and a widespread recovery.