Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-08-15
STATUS OF COTTON TODAY
COVERED IN SYMPOSIUM
COMPILED BY JOURNAL
Experts Fix Price Range at
From 10 to 80 Cents,
Yield at 100000 to
100000 Bales
BY ESTES DOREMUS

OIL COLlOn Plus d. CdrIy-OVeE VI dp-
proximate!y 100000 bales, which
would give the world only 100000
bales less than last year to draw
from has failed to stampede the
trade into believing that conditions
favor the bear side this season.
This conclusion is reached as the
result Of the opinions of sixteen OF
the leading cotton men in the coun-
try, thirteen Of whom are bullish,
three bearish and five apprehensive
of a famine as result of early I'M
favorable weather conditions and the
potentialities of the boil weevil and
the worm. u
In reply to the annual question
naire on cotton crop conditions sent
out by The Journal last week, ex-
perts from widely separated sections
of the cotton belt and in New York
fix the price range at from IL to 80
cents, the carry-over at from 4,000,-
900 to 100000 bales, the yield at
from 100000 to 100000 bales,
and the consumption of American
cotton at from 100000 to- 10000
900 bales.
This symposium is presented con-
siderably earlier than last season
because Of the apparent similarity
of conditions now and those obtains
ing after the end-September estimate
of the United States department Of
agriculture which indicated a yield
of approximately 100000 bales, plus
record carry-over of 100000 bales,
or 100000 900 bales from which the
world could draw for it's needs. The
end-July figures for this season in
dictate crop of II, 500, 900 bales, plus
carry-over Of about 100000 bales.
or 16,500,000 bales to supply the
worlds demands, which is only half
a million bales less than the previous
season. Colonel H. G. Hester, of the
New Orleans cotton exchange, fixes
the carry-over at 100000 bales.
Less Than 100000 Bales for Ga.
1t would appear, therefore, that
| the cotton situation today is much
| the same that it was the last OctOL
! Der so far as the available supply
and the price is concerned. It must
be borne in mind, however, that
the damage already had been done
less than a year ago, most Of IL
toward the fag-end of August, while
the present growing plant yet Is to
pass through that same uncertain
period. 1t is a natural consequences
that the world, dreading fire like the
burned child" is apprehensive OF
what the remaining days of the
growing season, may bring forth.
In connection with the foregos
ing estimates, copies Of which are
published herewith, attention Is
called to the result of a recent sympa
osium of Cooper & Griffin, of Greens
vile, S. c., wherein the estimate OF
1O4 well-posted Gotten men, fixes the
y
most bullish arguments seen this
year, and thoroughly in line with the
opinion of thirteen Of the sixteen
experts consulted by this correspon-
dent. In these figures the -otal
crop for Georgia is placed at 901.i43
bales, against 100000 bales last year
and the generally accepted belief
that the state may make l 100, 600
bales.
In many Of the replies received by
Cooper & Griffin, great stress was
laid on the presence of the boil wee-
vii, with indications that it's activ.
tiles within the last week had been
greatly increased, and that as the
time has just arrived for the in
sect to do it's greatest damage It is
probable that much more will be-
heard from the weevil as the season
progresses.
AS was the case last season the
weevil again is the crux of the sit
uation, and as his big day ap-
proaches, the trade turns it's eyes
towards Dixie to find what late Au-
gust and early September holds in
store for it.
Boil Weevil Feared.
The preponderance of reports re-
from various sections of the belt
and from local cotton men express
this same fear of the boil weevu
and the belief that deterioration or
dangerous nature will set in later.
Where rains are needed and are
realized, that same rain is as much
a boon to the WeeVil as it is to
the plant and in the face Of such
a condition you have stand-ofr
which makes estimates all the more
uncertain.
In addition to the uncertainties
of weather conditions and insect
damage account is take nof econom-
ic conditions both in this country
and abroad and the effect of the
coal and railroad strikes. 1t is
generally agreed that, with better
balanced old world, it would be
most difficult matter to supply the
demand of 1929 and should Eu-
ropean conditions show the same
improvement as England has and
their exchange rates return to any
thing approXimating normal levels
such as sterling, a consumption OF
100000 bales would not be sur
prising. Even in the face of pres
ent conditions there is a constant.
ly widening circle of demand for
COlIOH WHICH close ODSeTVeTS De
licve means the world will take
something like 13,500,000 bales.
This would leave a carry-over OF
less than 100000 bales and, UNI.
less the weevil is curbed, result
in a certain shortage year hence.
Students of the s;tua ion since the
bel Wevvl became such a factor in
the making of the crop do not be,
iieve that anything even approx
mating a norma! yield can be made
until intelligent and scientific mecns