Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1923-09-13

demonstration of strength in the fall /
OF record-brealing receipts at the
principa markets since last Winter
The advance may not be sustained
wher, The big Fall runs are made,
but II. hows how readil, the market
responds when denan and supply
come into fairly balanced relations
The market for well finished cattle
also has been much stronger. and
sheep ard lambs have been doing
we'll
The Cotton Situation
The cotton situation "a been an
extraordinary one thre aghout the
year Two short crops in succession
had reduced the stocks TO a point
Were Anything like normal consump-
ton would exh; ;st them befof~ this
seasons crop would be male But
the high prices which -esulted rom
this prospect ha the effect OF re-
ducing consumr lion III soIn, of tie
principal market: Exports from the
United States in the crop year tnd.d
July 81. 1928. we're l0.000000 bales,
which compare, with 100000 bales.
average exports in the FIVE years enl-
Ell July 81. 1914
The following i an extract from a
recent letter by mem er OF the staff
oil the London branch OF this Bank,
touching this subject
The Manchester spiane-S simply cannon
spay the Jrice for American Gotten and maze
1T up, into goods that will compete III ~.
markets OF the world. More than three. quart
ers OF the business done 10 Liverpool used 10
pei in American cottons. the Americl IN
product constitutes less than one.haf Of lie
total anc the rest Of the business is in re
o-callett .'outsiders' e. perlIqians Africa s
and Indians Manchester prefers the Amer
lean cotton and will return 10 il soon
possible, because tIley have been using ii
generations and therefore know the ga $
we'll. FurthcHndTe, the grades are snifc, u
which ~ mnfer than can be said of the 80 r.
siders,p andsfhis makes Tor better produc' n
from The snhIdles and loons.p
The official figures for British ex-
ports direction piece goods support
this, statement For the month oil
July.s 1928, these aggregated 316.G84.-
600 square yards, against 633.971000
in Nthe corresponding month of 1913,
and i443,6l0,000 square yards for July,
1922: for the twelve months, August,
1922, to July, 1923. inclusive, they
were 4,30o,o6l 900 square yards.
against 7,O75, $4,000 in tie cores
bonding. period, lo12-l3.
The reduced stocks and advancing
prices induced the cotton-growers to
plant last Spring the largc<. acreage
oil record. bat with drought in The
Southwest. too much rain in tina
Southeast and insect pests evers..
where the market has been kept in
constant state of excitement trying
to estimate the outcome. The gos-
eminent July report Gas of July 2sj*
indicated crop Of about il ,5G0,1I;s
bales. but the August report brought
the probable yield down to 1885,
600 bales The total carry-ever az
American cotton is about 2,rGu, COG
bales, which VIC ald give total Gun.
ply of about 13.300.000 ta.es. Cou-
sumption is estimated by Score AIRY
Hester, Of the New Orleans Cots,
Exchange, at 1901 600 in the last
year and 12,82o.000 in tke pres boss
year 1t must be borne in mind tl,a-
it is impossible to get the aAxreSa'e
carry-over at home and aircad w.,
below 2.500,000 bales wi;;;cx. a v,ry
extensive curtailsnsa. of MIL o~..a-
TORS. In view OF the small STOCKS
Of cotton goods everywhere, thc { t.
lock is one to cause ap,~cA-.+4~d in
Tie tra.:e
The sgoaxht IN exas SD Ca
hcma is nox t:osen. and J. IL 10y
s;tie TIA: IT, crup may r.=Al: .er.s
s.rl:7rT: n .N.;s srsf:er. he >-~r
has assarc. .as~rt S3E -. a@6
or ne Ecr-s','- r-r~.S: