THE WORLD’S COTTON.

Grey River Argus, 11 May 1923, Page 5

THE WORLD’S COTTON.

The Available Stocks. WASHINGTON, May 8. The Department of Commerce has issue.l an estimate of the existing world -ocks of cotton, indicating that when rhe year ends on July 31. there will he .irrie.l over for the following year onlv belt* as much cotton as was carried over on July 31, 1922. This is dn<* to the increased world consumption. There was available for the current year 27.291,000 bales, and the world consumption during tho first eight months totalled 1 1.281,000 bales, iffius if the consumption continues at the same rate during the last four months, the total consumed will be 12.922,000 bales, and there will rents’:) for the following year 4.370.000 bales, compared with 9.356.000 bales remaining at July 31, 1922. The American carry-over of stocks at the last tamed .late was 5,123.000 bales, and ■t is estimated the carry-over of stocks as at .I’ll-.- 31, 1923, will be only 1,429.000 bales. The department points out that this indicates the world is facing a most serious shortage of cotton. The figures caused great excitement on the New York Cotton Exchange. prices going up four dollars per bale within a short time,