RISE IN COTTON

Evening Post, Volume CV, Issue 49, 27 February 1923, Page 7

RISE IN COTTON

SUPPLY AND DEMAND

CROP'MAY BE BETTER NEXT YEAR

GOOD WEATHER IN SOUTHERN' STATES,

(UNITED FP.ES6 ASSOCIATION.—COPYRIGHT.)

(AUSTRALIAN - NEW ZEALAND CABLE ASSOCIATION,) NEW YORK, 25th February.

A New Orleans message says: "A sensational rise in the price of cotton in this market during the last fortnight has brought middling to 29.37 cents, with prospects that the price will continue to increase owing to the growing consumption of American, British, and Japanese mills, with the decreasing supply. There is expectation of an increased acreags of planting this year, winter weather throughout the South being favourable, and rains and frosts breakiug up the ground for early lplanting, and giving hope of a decrease in the number of hibernating boll weevils."

The " Economist's " Manchester correspondent reports that there is an increasing apprehension in Lancashire regarding future supplies of raw cotton. The List two seasons' turnout in the United States has been very small, and coincides with an increasing consumption there.- During January the United State6 consumption was 610,375 .bales, which is nearly a record. This season's crop in the United States is expected to ba only 10,000,000 bales, whereas the consumption is estimated at 7,238,000.

Therefore, it is satisfactory to know that the British Government has promised to facilitate a private Bill introduced in the House of Commons for a compulsory levy of 6d a bale on all cotton imported into the United Kingdom to create ..a fund to finance the Empire Cotton-growing Association.