The Washington herald., 1922-05-08
COTTON ADVANCES
HELPED BY POOR
CROP CONDITIONS
Rains, Flood and Wealth
er Delay Planting and
Encourage Weevil.

En6Ni rhlS' May I.-Op1niOn in the
best Informed cotton circles is be-
coming increasingly stro1g that
the staple is going to be scarce
before new crop is ready for the
market The steady dIminution in
the supply. the pace being NOR.
rapid than anybody expected, is di-
recting attention more and more to
how much depends on the new crop.
ITS effect is reflected in the grow.
ing independence among those who
hold the unmarketed supply.
Figures just announced at Wash
ington. showing that world con-
sumption has at last gotN back the
many unsettled conditions which
hamper its normal use. have ac-
centuated bullish feeling. II there
is in all quarters Of the world on
August l no more than 1906. 900
bales of cotton OF all kinds, as es-
timated by the oficial statisticians,
which would compare with an es-
timsted carry-over Of slightly over
5000, 900 bales American on August
I, 1921, the Importance Of the grow
ing crop of 1922 would naturally
be greatly enhanced. Already there
is felt an impetus to an expecta-
tion Of higher prices than are now
ruling.
Little Selling Of Old Crep.
In view of the unprecedented d
food conditions in the great MIssis-
sippi Valley, which now have inun-
dated many hundreds of thousands
Of acres of fine cotton and farming
lands. with limited chance Of max
ing much cotton thereon this sea-
son. and the unfavorsble conditions
prevailing in other sections Of the
belt. there is no disposition to sell
freely the remnant Of the old crop
Financial conditions are such that
there is no pressure to sell. and
confidence that before new crop
is ready famine in cotton is
probable is influencing holders to
turn loose slowly.
In this territory stocks have
dwindled more rapidly than eN-
pected, and shipments are going out
at surprising rate. A feature
which has brought some surprise Is
that stocks Of the low grades have
been reduced faster than the bet
ter. and it is believed that the bulk
OF the unsold cotton is Of medium
or higher quality. Recent demand
though buyers continue to want
small lots.
Acreage May Increase.
Ideas TO acreage continue to lean
to a small Increase. although the
weather has been such as to delay
the start and without a turn for
the better right away some acreage
will not be planted. for the boil
weevil menace is increased by late
ness. 1t is felt that it would be a
useless expense to try and grow a
crop with so late q start. In the
territory served by this Darket
some planting has been done close
to average date. but food condi-
tions and frequent rains will bring
the average for the whole district
back some days. Temperatures
have also been too low for growth.
There is an abundance of labor
however. and IL is willing to work
at much less cost. compared with
crop proves to be this season
chances are that it will be produced
at much reduction. compared with
last year and the several preced-
ing il.
The section suffering most delay
up to now Is hat which produces
staple cotton. which requires a
longer season than the shorter va
rieties. Because of the presence Of
the weevil and the lateness of the
start chances are that these varie-
ties will suffer most. and il has
already begun to be felt in stiffen-
ing values. as compared with the
short and upland kinds. There is
talk of prices going materially
higher later in the summer. but
most observers are disposed to eN-
pect any rise to come slowly. in
view of world conditions