Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-08
BRITISH STOCKED
IN CHEAP COTTON
Coming Crop Almost Sure to
Command Good Prices,
Experts Figure.

ecial Dispatch to The Star.


NEW YORK, August S.-Man-
chester, center of the textile industry
of Old England, thought faster this
year than some its American COM
petitors, it has been disclosed by
authentic figures, showing domestic
and foreign takings of raw cotton
Just made public. The foreign manu-
facturers took advantage of the
cheap prices which prevailed for
American cotton last Winter and Fail
and absorbed holdings with a rapid
ity never known before.
The actual growth of cotton and
linters in 1926 was 100000 bales,
while actually 19.200.0 900 bales were
marketed by farmers to merchants
or spinners in the year ended July
81. The extra 100000 bales came
from cotton produced and ginned this
season. The total amount brought
an average price of 12.44 cents
pound at the various interior mar
kets. This means the producers re-
ceived approximately $3.50, 100000
for their cotton. The South. there
fore, received more than S1,400, 100000
for the 1926 crop.
Less Money for Big Crops.
The previous year the average
value was 1888 cents a pound and
the cotton growing States gained ST.
550,000,000 for their cotton and $246,-
600 900 for seed, a total yield of ST.
10000, 900. In that year actual pro-
duction of lint and linters was H.
435 900 bales.
Thus, although the South increased
it's 1926 crop 10000 bales above the
Weld of 1925. it actually received for
IL nearly $500, 100000 less. During
the pressure of harvesting, the hurry
of farmers to dispose of their crops
and the demands of creditors for
prompt payment, the price dropped to
Il.6S cents pound for middling cot
ton in New Orleans and 1880 cents In
the interior. About 5000, 900 bales
were marketed when the price was
the lowest. Right then was when
many of the Manchester manufactur-
ers laid in their 1927 supply. After
that the price rose gradually, until it
reached 10 cents at the close of last
month; but very few producers re-
ceived the benefit of the late rise.
Spinners Of the South took SAT- 900
bales. compared with 4,779,000 bales
the previous year. That is largely
the reason Southern mills are now
working at higher than normal one
shift capacity The Northern mills
took only 2,457. 200 bales. The bulk
of the crop went abroad as export
shipments, totalling 11,243,000 bales.
This exceeded all previous export rec
ords by nearly 100000 bales. Foreign
shipments, totaling 11,243, 900 bales.
mately $926, 100000 for the 8,252,000
bales bought in the. 1925-26 season,
while for the 1867 year they got
11,243, 900 bales for about S720,000,00
~, {k1f1 inn no
increased their takes, but the great
est percentage gains were shown by
Russia and the Orient. Japan and
China took 1 900, 900 bales and India
29S,OOO. These countries heretofore
have been good markets for American
cotton cloths.
HOldoyer Increase Seen.
Henry G. Hester. secretary of the New
Orleans Cotton Exchange and world
authority on cotton production and
consumption, estimates that American
cotton left from last years and previ.
Gus crops throughout the world totals
1888, 900 bales of lint and linters, as
against 5.639,000 bales the previous
season. or this 3,705 900 bales are in
this country. 5000. 900 bales in Europe,
as compared with 100000 year ago,
and 533, 900 bales in Japan, as against
267 900 last year. Such a carryover
is not large with consumption running
at it's present rate. The consumption
points, according to Mr.. Hester. to
the need of crop of over $4,000, 900
bales Of lint in order to supply spin.
ners and maintain a normal surplus.
Private estimates so far range from
14,500, 900 to Is 900, 900 bales, and there
is considerable chance that unfavor-
able weather and insect pests may de-
crease this estimate and that of the
Government announced today.
In the meantime, foreign textile
manufacturers have our cheap cotton
and domestic manufacturers face the
prospect of filling further require.
ments at the higher prices now cur.
rent or in prospect. This is respon.
sible for the bullish undercurrent now
apparent in Southern business circles.