SHORTAGE OF COTTON.
A SMALL CABBY-OVER. SHARP RISE IN MEW YORK. WASHINGTON, May 9. The Department of Commerce lies issued an estimate of the existing world etocks of cotton; indicating that when ! the year ends on July 31 there will, be carried over for the following year only half as much cotton as was carried over on July. 31, 1922. This is due to increased world consumption. There was available fo/the current year 27,291,000 bales, and the world consumption, in the first eight months totalled 15,281,000 bales. Thus if consumption continues at the same rate the last four months' consumption will total 22,921,000, and there will remain for the following year 4,370,000 bales, as compared with 9,536.000 bales in 1922. I The American carry-over of etocks in 1922 was 5,123,000 bales, and it is estimated that the carry-over of stocks this year will be only 1,520,000. The Department points out that this indicates that the world faces a serloue' shortage of cotton. This estimate caused great excitement on the New York cotton' exchange, price goins; up four dollars a bale within a short time. — (A. and X.Z.)
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Bibliographic details
Auckland Star, Volume LIV, Issue 110, 10 May 1923, Page 5
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187SHORTAGE OF COTTON. Auckland Star, Volume LIV, Issue 110, 10 May 1923, Page 5
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