S* UlTITED STXTr.S DEPART:'.TT OF AGRICULTURE
Bureau of Agricultur;]l 2cono.iics
A :as in,;ton

0-69 April 30, 1i31
WORLD COTTO:- PROSPECTS

SUl~ARY

hne trend of cotton prices has be-n downward since the middle of :.:.rch.

American cotton for the wee! ende- A-,ril 25 wv;:. about 0.68 cents o-r pound

lower than in, the week ended i ]rc;. 21. At Liverpool prices of 2-jyptian Ses)el

and Uppers declined considerable" i.more t4han prices s of American cotton. These

price declines reflect the recent lecliies in the stock market and in general

business co::ditions and the f:~ilure of the earlier improvement in the cotton

trade to be entirely maintained r;:tner than developments in world production.

Sales of cotton cloth by Al1rican mills fell off in i,;.rch fro,.- the high

level of ceFiuc-ry, but were still well above the low levels of ITovoiber and

December. Production and shi,:onlnrts continued to increase slightly and stocks

fell to tihe lowest levels since October, 127. Unfilled orders decreased slight-

ly but ex:ce-t ior February they wer. the hi host since the end of l-jrch, 1930.

T.e decline in prices in the past month hLs been accompanied by a decline

in sales of cotton goods by Great Britain to the Orient. On the Continent of

Europe spinner and weaver sales of cotton yarn and cloth in March showed little

if any improvement over February and prices a re .eenly competitive. Spinnint

and weavin-r mill activity, however, seemed to have shown a slight improvement

over Fcbru..r:. In Japan and Cnina conditions are favorable to the consul. tion

of Americcn cotton and as a result imports of American cotton arc above last

year. Mill activity is picking un some in Japan, and in China the nills

continue to opercte at or near full capacity without excessive accumulation of

stocks.

In ::,.rc'-. the apparent supply of American cotton remaining in the United

States dccroeased faster than it did in March 1930, dua to larger exports for
j





C-39. -2-

tn, i.onth. c.i' olm-ost as largo a doi.iestic co-Asumption. n cverthdclss, on April

1 tL;'- .u was still 2.'t trillion bal s 1rg.r t.':an it v"as a :or o.F.rlir.

St.c.-: n.7 A". ricrn cotton in luro j-an ports ,.' r-'lo'-t fur ]uro,) w:r .bout

300,0j 10 1 ,r in tuec. mi dle of An'ril th.,i t.:,'. wcre at that --.tc last

cmr. T '.r.ld vir'.ile sulo 0l, of forL,-i iL rovwn cott:onr was. n .c.rlvy :200,000

balos .:. il r in t.. mijii.l of A' ril t:-.r- it was I. op.nr -arlior.

I. i'~-rt -A.t devcloponcts '-2,vc b.c-,n t:.i:ici plaic in world production.

Rc. -t.lv t :,: bc:n neccssar.: to rcd'..cc the estin-.te of world production from

26.4 l.Il.:o.' L::.L3s to 25.5 million balcs for 19,0-31 comi:;,)red withh 36.3 million

in 19-30. A art o- t'.e reductions iil :'rod.uction this .year c :.- bz attributedd

to s cific owinc conditions, notable roubht, tlt af ect only t-is yer.r's

crop;. .To <. c-xtci.t, .howcvjr, the rtdui tions irIj c-tc tI.:-..t low pricess are

,.lr.-:. i.d 1 j .cin: o rodu-ction. Tih c ;etcst dccrese in tnci 130-31 v'orld

croo si..c: t.. s.:.son bugn;i is ini th. United St.:..tes. Thc '-i 2hmst oficial

forC.-st :.' t 1930 crop was that of October which ,itaced it ,.t 14,406,000

b .ls. T3,: Dccci.,ibr estir.mat. Was onl~'y 14, 243,000 b.ales and t-h find -innings

rojort pJr.,cs thi crop -t 13,930,000 b-d.ls, 313,000 bnles below th.- December

cstil-.t: ..,r 556,000 bales below the October forec-.st. TIh final r,.oort for

the!' Idi"3 cr-r.; places t-ic crop -Lroa a:t 23,616,000 acres compared w;rith ,r rcvis-

ed fin.l .!t'.lr.,t of 25,922.,000 acres for thi 1929-30 cro,., aMid pL.-ccs pro-

duction -t .,0;3,000 b. lcs of 478 pounds compared w'it. 4,289,000 b:.l-s

offi-ci l -stim-tci for last :'o..r. In this co.mucctior. it is significant that

stocks r.t 3olr;nbe; on Ar-ril 17 were 27?,000 :bnl.s of 4'00 pounds lcss thn-n year

c-rlier. 2:: -nrts from 11 India for the period eorc-: 19 to April 16 ,.re

re3ort..o -. thL Col ,-icrcial .d 7iuna :ci..l Chroniicl. P.t 179,000 bales loss than

for t:e- c:orr-c:nondin- p;-rind last year, however, so stocks arc not now as low

in co;::-.risor. :.'ith last yt'r s- they w=rc :-. month g1,o. In EZgpt cotton ccre-

cae W-.s -i.cr, -scd from 1,912,000 r.crs in 1929-30 to 2,162,000 acros in 1930-31




C-69 -3-
and in October production was forecast at 1,743,000 b?.les as comnp.rcd with

1,725,000 bales in 1929-30. The Decer.iber report placed this year's crop rt

1,697,000 b:les but ginnings and receipts at Alexandria for tic season to April

1 were both 16.9 per cent below last year so that a further downward revision

will undoubtedly be necessary. In Anglo-Eyptian Sudan early indic-tions

pointed to an increase in production over last year and the December 1 estimate

placed this yerr's crop at 171,000 bales. T.e April estimate reduces the crop

to 113,000 bales, due mostly to damage from black arm aid leaf curl, the latter

a disease which has developed recently. In Brazil the coffee crisis favored

the expansion of cotton production and this year's acreage is larger than last

year's, but drought and weevil damage were severe in several provinces .nd the

crop is now unofficially estimated at 400,000 bales compared with the official

estimate of 550,000 brales last year. Low prices are believed to have been

important in reducing the Brazilian crop even though Brazilian exchange rates

have fallen to nearly 40 per cent below par, thus making prices received by

Brazilian growers nominally more satisfactory than they are. Although these re-

ductions have attracted little attention in view of present low consumption

and accumulated stocks, they show the present trends in production aid tney

reduce supplies by an amount that would be of very definite siiificance in

time of favorable cotton consumption.

Some information is becoming available concerning the 1931-32 world cotton

crops. Fertilizer tag sales in the South were 27.5 per cent lower in i:.rch

this year then last, and for the four months December through IM-rch they were

31.5 per cent below last year. In 3gypt it has been necessary to restrict the

use of water and an acute shortage sec-ms likely to develop by summer. Only

meager information is available from Russia as efforts seem concentrated on the

spring plijiting campaign by which an increased acrer.ge is being sought. Prospects

do not aeppc.r very satisfactory and transportation, labor and equipment short-

ages arc being complained about. It must be recalled, however, that such
complaints appeared to be part of the campaign of bringing about last year's
increase in acreagc.












THE COTTON PROSPECT
CENTS ___ CENTS
PER PER
POUND PRICE:WEEKLY AVERAGE OF AMERICAN MIDDLING Vl INCH IN 10 MARKETS POUND
20 20






S1923-30


10 10


AUG. SEPT. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUNE JULY
BALES BALES
MILLIONS THOuSANDS
AMERICAN COTTON:APPARENT SUPPLY FOREIGN COTTON:WORLD VISIBLE SUPPLY
20 -IN UNITED STATES
2,800
16 /S- 1930-31 1929 -30. &, 2,0


2 # 2,Z400

1 9e 90-1 2,2 00
0 a2,000
4 1/39 -o 1,800

0 I 1 I I I 1 ,. 1,600
AUG. OCT. DEC. FEB APR. JUNE AUG OCT. DEC. FEB. APR JUNE
BALES BALES
THOUSASI UNITED STATES MILL CONSUMPTION UNITED STATES EXPORTS ToUSANos
700 19829 1,600
192B-29
650 1,

600 / 1929-30 ,200
/50 / 192 -30 1,000
500 \I 1 % 800
500 \ 3-/ 600
500 0

400 1930-31 200
350 0
AUG. OCT. DEC. FEB. APR. JUNE AUG. OCT. DEC. FEB. APR. JUNE
PER CENTS
CENT COTTON PRICE AND INDEX OF COTTON CONSUMPTION AND INDUSTRIAL PER
POUND
I40 PRODUCTION IN U.5.,1919-1931 0.
140 40.0
1923-1925=100 PER CENT Coltton consumption

120 -- 32.5

100- -25.0

80 -- I 7.5

60 ro I 10.0



1919-20 '21-22 '23-24 '25-26 '27-28 '29-30 '31-32
li. DE PARTME NT OF AGRICULTURE NEG. 22245 BUREAU OF AGRICULTURAL ECONOMICS





U.SDEPARTMEN1AF AGRICULTURE\








C-69 -

Pri, --

"-;pots

Unite-.i -tte, m.rlket The v-._. e price ni milaolin 7/.3 inch cotton
in the ten m'irket i or r.me ..eek nr-.j .-.ri il .. 9 9.4 6 ont: pecr pounL. com-
pared ..ith 3.). L cte.rnt. Inr the previoi.s .ek n, I 0. l- e :nts Ilr tit? ..'eek
encdea id-lrch 21. The .entirment. uurin.. tn e period I rom _nces.nber to ;.'nrch v:'s
th-.t recovery irom the uep-_L'ssion .ioul L,: r--pi.; .,n. tih-t the icrer e reduc-
tion ..oul'" be i.,rge. oincie then e the lin in "he .r e jeo!,s to be
thnt ti:e recovery m b;,' be slo / or irr'-u.1- r ,ni, Ltiit '-he r'-iuction in acreage
may not be so t':r't as jnticii:- teL i: rl.Ji.e ..urin i.'rch the v .'' r'.e price
in the ten markets .Vs 10.1. cel:t.j C1 piounr. cuip:- .Aiti 1J.1i cents in.
February, "n,. 14 .74' cents in id:..rch, i ., -e r e : rice receiv.CL by
procuzer.; on i:,;rch 1l w, 3.3 cents Fcr poun.., u. cent "bove f _bru-.r; 15
onu 4.2 cent- belo.i il-r.:Jh 1:., 1930.

Liverpool '.t Liverpool the price co, spot cotton n ..e net c..eclines of
0.49 to 2.64 cents per pounu lor the ,iost iniport'.it ,ro tn< lr'..o, in on that
market from i.'mrch ,*.0 to ,p:'il 1.7. iLh c ve :-.c:line lor nine ..uot-.tions
,as 1.05 ce;:ts per pounu. comp'-trea ;ith ,e-line oi 0.81 cc,-t. in the price
of .,merican middling 7/'j inch cotton r Liverpool ..curin .tis period. The
average of In:tian Oom'n- n -.no' -in. uc .lir.--.: .50 c..rt Auring this period,
Egyptian uakel 2.64 cu-.to 1:d bplp e 1.0 cO-nOL,;. .0f- pounu.

Relative price, ol corn.jotitivr. ui:'.n t Brcren 1 The 'ccline in
prices o Amerj.c.,n cotton .urinr tie Li'-,. pi.rt o !.i,.-cl ]re. ule: in rela-
tively nigher aver. je pric, for iln, i n "n E ypti .n QJ Ier in 3., .hilc this is
true oi the .ver- ..i price t01 the lour Lyp,?.-. _I In..i-r cotton: ..meri',.n
LeeG Bro'-,.ch, *.cinuh -,n,: Oo:xir.,; .:vulo; '.. in th pri:e. of h-.s '.",rieties
.vere not t.t .11 uniform. .uri tr. th? ..ir. .t o;i' 1 oi ..i ch the 0lo ,._r. U,
Oomra No. 2 'nu ,cinah, ier-e 201 tive.:./ hi her n- chle prce ior tih better
cottons, Bro cii n'lc I er ; .'nn r ,.(Cl, W i tiv-'ly o :or th-.n moerijc n. This
m.:y expl;.-in tne prcieren.:e 'ccor.uAL to b:r.t'.r .,rues o 01n..i'nir cotton over
sj:eric'nl cotton by 3ontiintc-.L 1 i-i;kcu.... LuJ ino the first 1..:rt of i' rch.
ELypti:,n uppers sol, rel" tivully nilt..-: th.r: in e el.,ru-ry -in'. provr.u to be
someo.hAt r.eglecte- Lu.- tothe *il-.;.:'..:ly cre::tcr a.:cl'ne in E.;ry ti-.n than
in -meric.rn micialin; 7/3 inch ,inc ... ricl .;, Lut- ormpcitiive pej.i tion of
upper may h"ve been inmpro.',c.


I/ B-se.a on report u-.tej Lpril .j3o, fi-on Aii-m sttant .'rricultur'-1 Commis-
sioner Lonrl. k. Chrijty ",t Berlin, ou.p:iimnteU by c'.ble on ..pri. 11.




11



C.-UJ 0
I
..toc! k., InC' !aovsrfLmnt t

.F.pp.rent suI:,ply, o01i _J ric 'n '.Lot ton Jr. uni .:d ,)t.9te'

On :ril I Ite .pp :-.cr .'uppl, o. m,-.ric;'n cotton remr.ainn; in tile
UnitedJ -.ttes '.mountc. to : bout 3.L' million blcs. Fhis .,*s :.bout .
million b.J :.. 'bov. April 1, 190 -.nu z.8 million b.les :.bove ,pril 1,'
I`J2 One mionIJt c'.rlit,' sie 'pp:.rcLt supply ...; -UouL '2.5 million b .le
bo'.. .' t v r. This (C.Cr:L- ic 2 r. t;-. c.iilc-enc bet /,I..3e tni.s. yo r -.nd
.'st yc:tr during i;J',rch .i. r, u' to .L '.-.e 1, Ln .L *:oo t .j.urin%, i:.rch ierc
abouL 12 3,u o b-l.es -.bov-. .. i .r.u con u. n .-- nly .bout
'17/,JDj b: l'.'z- bclo.; i.u-rch : y" .r ,..o.

..rl'.. viible i c ppl:

On : :,r l 17 1h. ..orl. vi ji ol. up.:.ly 01. 11 .:o.ton lot, l-- 3,155,000
runnir b, b lbcv v- ;,: *;e 'orr. c,,.n:iin .x-.c- 1: l: .s, son
-n:. ,7,..',' b L- .- bove ..h t in. 13 C -..ir. to th,. Co!mi.arci:l
-.r. in .ri 1 ChrounL.l.. AuL : uo ti runtinu.'... Ino r; i-nt. ol consumption
thisj ;,. r tii:;n I ,t-thu v .-ibic .-.up,,ly .cooi .irnuc to in'o :-e. c -crelative to
1'.3t ye r. On 1 *br.i. y l., .1,; toL .1 visj-ible Iu.py :.=s 1.32 million
b--.o bovc 1 .-t y r *.'. on JA .'2- h 3. .i..._ L.16 million cbovo eori,
s- rl cr.

'iho .,oil \ vi..ibic supply 0o ...:i..rican .otton on Aprill 17 .;1s, 6,589,000
b'Llc 2, .3-,000 b:il -,bovu ye-. .,ra ani, 2,58L ,000 b .lcj :ioro thin in
1329 t this Jtime. ihe visibic supply ,o forc:ig:i cotton on the other hand
is b,-lo 1 ,.t yc.r:, t.le to+.. on A-.l.il 17 thiLs yc:c r being k,564,000 b:les
cormp i c I ith ,:.,7'/ ,JOO 0 lc. t Jl ..; month ) ago.

stock : in consuni.n, ust.illishimenui., etc.

..tocKs o1 r -:.' cotton in corr,.u:~t L. ct' bli.hments -t tge end' oi rAarch
tot lc) 1,473j,0D00 :z-n'nini !-'n.iLcL, '.c.or, inva:. to the re-ort oi the Puresu
of the Csn.us. This coi.ip.'. ':c iLr 1,75 ,03)0 h..lc;- on h: n' onf ye':r
e"Ciier -n-i ."i the o ; t oe t i-, mic.-nr.h sii'. .19 1. stocks in public
stcr.-e- .n..i at comprc.sses o; thle c.LtI ,r hi.n,.. imoLuntini. to 3,C(-b,OuCJ bnles
on I.', r I I eS
on .rcii ,.1i, i l ..'ere ,z,4.': ,,J0Q0 l':-. Ii. mo c th-n -. yc. .'c,0 :;nc compares
tith stoAu ks 01 5,UL ,OOu 0 '...le. -.t L r. u ol i, h'r:h, i'l~l, .-ich ':j the
pr,..vi.,u- niuh .1 cr tihu rn. i, t, nc.. .L.".. .i'..:i t eA re.'cor,. .'",r. first
st trtw.

E:-:po.tf oif onrr.tic r cttcn

Th- tct'-.i e ports n. ;om.: ti.. uottor .Ic." t:i -' d'.jor L ic .:r rn.n... of
i' "rcn _.-iuuntu o .,, 1ijj0'j, b cl comr r,. i th ;' ,771,U000 bU ;.. ..uring
th'e .nmr p'.rio 1..t .. -.* o o r:i. ,:.i,O0J o- Ic ci.-lo :, .uco:; in:% to the







C-69


-?-


reports of tni Bur itu o01 :n- C-nLu:. .rt th- *n.. oJ. Janu .' ... .'rts for
the s-r...on re -e'] ,J ':. 1 b 1-: t t-.... i. I.t1 ;.; a reo .. .in .the
ciffern e .-.. ..u. o t: . t ci ; L -.- : c U" : oTh i 'briau ry :r n iu.l1rch
;ere :bo e7 l- t :yc '; Eal in. '....'n -.::,purt,. :;Ic'unt.:. to. *.JL',OO0 run-in_
b.lcs comp ro, .1lt) i 4.5.'',,u b: 1 V. i ibu ry, 5.: ,000 b'les .url .
Jainur 'y, :r I .*c 7.,000 b'.lc in .... '"., 5*. -:xpor, .-. .urinr ;. .'- h ,I tre
th. 1 r- i .,t f or th-.. ,n1or t ..n :cc :. :'"h, 13..7.. nl n the: past five ye: r-
Cxports i.n r:-"rch. -.-,-? I': r-.:-', u ly l 12,.. bru r l: .-bove ribru:,ry, whereass
this y'r export in .Arc.h .;C:1'-- 17o,uJU o ". .'L ovC: rebruriry. The great-
e.-t inr.re.s:- c v',: .-.br nl ,.:- took pi- .in .:x rt.s to Japa'n, Germ.any and
Ittly. .*Exp, rt t.o J ip:n ior j -th' .:. 'io .. t :- r agcinh ahead of ,last
.c o;scn, .:. : .n ," .',r, throu hi .: p ....... .

The pick up in export.s uri... .ru-..;. .n i. rh .;ds due to the up-
.iar1 mov.rnrnt in prica nr nc ric Cl'.im tl, : e.:.Line throughout the
.corli cotton trr.c aurn g J, r.nuar;.' '.u I er.-u :y.

L'rrio tic import. oi fl c,'o ei, ..; cottor.

Tct:-.l import.. of Icreigrn .ot.on u'rin 'i.-r:nm tot-ic, ,,bout 10,000
b.les om)pare' .'-ith. 8, 000 b-... in ;'..-ch, I9o3. Tha totnl for the eight
months .ndccO i.l'.rch .~i, ijt. .. L-out. o2,C0C b ies comp-.reod :-ith f2-4,000
b'-l-.: lor ti!e like perio.i in"tL sc .- or.

Exports I rom In. i- :r.., F,;:. t

Tot. 1 export tiron. Inc.i, Iroir ...* -ch 1i co ..)r:1 iS rmounte bo
i5 C, 000 ru nin 1 o-L. r-.... .; ti -..: ,0 j ic. : ....urJn;, the corres pon. i
p'urio. -.. t ye .oin... r . '1M 1. -i: 1 i;n:.nci:l Chronicle.
;To-i r.uo U.. 1 to 'prJi 1 j, ho ev V, exportt : ;Y .,0iruO'b:le; obov la'st
.,0 .)aOr.

I rom -u ut I to r.pr il 15 t1i .(::..ao; '..;xport. t>oom lex n-uri:. totaled
046,67'6 running b'_..,-, J,1i01 b.l'..., ujlo t:,.' .irrLI... period in the 19f.9-u0
:.s ...:;Cn. E';..;:' -t i rujm ,;,pt. to :'r Conti nn::t .n'. tL, Ii,.i'.. for the season to
'.pril 15, i ic ;2'Lr, miOuir. ti O '..bout *.-,, 000 b.ilt. ronpir-d :.ith 574,000
b- is during l-,t o ,or r. a.cr ._ : .." -.bout 3 c3,00 b:tles.

Conrt ner-t-J .; .n i', :,' -, kL:.-. l ..:o ':i.- n -.T ton

-urinf tnL. : iou .-. -k.L. c .i .. ....oL :.h 2u 'Ll,.'re ;cre only 210,000
b.-1 ol o .miric-.n cotton t'-eur. ,onr.tinct:L -1* pi:.cra. This compares
.ith :,'JuC' b 1: uurir., L;. ..;u..e :eionu i..,t .x: -.on, The total tki'r..
for ti.e so son i rom ..u;,ust 1 0o i.:ub o0 int', c uo ,533,000 brl.C,- com-
p"re'i ,;.th c,90u,0,0J b- ie,, lu!; c, t-. '.Lu, picrio', l st season.





-8-


Table 1.-


Cotton, American: Continental spinners' takings,
specified periods


Four weeks


ended about : 192-_ 1927,w 1 -29 29.9-%0 : 1930-l
:1l,00 bales:1,000 balcss,000 b e.s:1,0X) bales:l, bales
:of 478 lbs..:of 478 lbg.:of 478 lbs.:of 478 lbs.:of 478 lbs.


Aug.l-Aug. 8
Seot. 5
Oct. 3
Oct. 31
Nov. 28
Dec. 26
Jan. 23
Feb. 20
Mar. 20
Total Aug. 1-
Mar. 20
Apr. 17
May 15
June 12
July 10
July 31 1/


(62)
3 17
288
S 457
S 473
: 544
: 449
6 80
: 539

3,809
S 463
S 524
: 443
S 516
S 253


(89)
431
334
421
440
S 475
430
440
386

: 3,446
S 401
420
361
S 384
I 303


(131)
295
339
427
424
436
454
361
477


3,344
332
337
417
304
143


(121) : (52)
232 : 231
28 : 276
332 : 323
434 389
415 : 313
406 : 274
: 380 320
: 364 310


S 2,966 2,388
304
256
245 :
243
: 163 :


Total


_ Tre (60eks08
lr Three weeks.


5.315
: (5.315)


(4.77


(4,177) :


Textile situation

World mill consumption six months ended January 31

The detailed report of the International Federation of Master Cotton
Spinners and Manufacturers' Association showing consumption by countries
and types of cotton has been received since the March release of World
Cotton Prospects. The following is a brief analysis of the report. For
addition comparisons see Tables -" to 13,in the appendix, pages 16 to
21. :

World mill consumption of American cotton during the six months ended
January 31, 1931 amounted to 5,278,000 running bales compared with 7,083,000
bales in the corresponding period last season. This decrease of 1,805,000
bales compared with a decrease of 2,038,000 bales in the consumption of all
cotton and an increase of 28,000 bales in the consumption of Indian cotton
during the first half of the present season compared with the same period
last year. The greatest decline in the consumption cf American cotton during
this period took place in the United States and Groat Britain, although
consumption nf American cotton on the Continent of Europe during the first
half of the season was also considerably below last season. China was the
only important country which consumed more American cotten during this period
than during the corresponding period in 1929-30. The countries in which the
consumption of Indian cotton showed an increase over the half year ended
January, 1930 were France, China, Great Britain, India and some of the
smaller European countries. The total world consumption for the four classes
of cotton reported by the Federation for the six months ended January, 1931


C-69


*1


(4.877)


--


I


=-L--




-7-


C-69 --

in per cent of the consumption in the sa~c p.:riod last.' season 'v.re American
74.5 ocr cent, East Indian 100.9 -cr cent, Egptian 78.5 per 'cent, .Sundrics
94.2 Tnor cent and total 84. per c nt. Those connsunption r,-pcrts 'indicate
that d ri:.g periods of de-.rc-esicn 'here is a tendency for mills to consumeO
a larger proportion of ch:.anor cotton than in y-.ar_ of prosperity. In case
of the displacem,-cnt of A: ritcn cotocn b:- I:_.iAn cotton it was due in part,
no do..bt, to the fact that the r.lat ive pric..s of the two jrowths was more
favorable to the, consumption of Ind.iarn t:. ring the latter period than during.
the first half of the 1939-C0 Es-sc.n. Tho.- consumption reports include the
same figures for R ssi)n con.puicrption .s for the six months -.dcd July 31,
1930 since no rcports were rccei-,-.d by the Fediration for the past six
months oericd.

United Stt.tos

The domeas. Ic cons'-..ption of rawi cotton during March amounted to
491,000 running bales compared ,'ith 434,0':,0 bales duri-g Febr..ary and
5036,0 0 bales during March 1930. DnriLng the past ten years consumption
during March has averaged" abo .i. 29,0'00 bales ..bovc February whereas the
consumption during March this year w.as abo..t 57,0)0 bales above Fcbruary.
The index of cotton consumption after adjusting for seasonal, increased
from 84 per c.nt in February to 89 per cent in March. Toe index in l arch
1930C. was 94. The total consumption in the United States for the eight
months ended March 51, 131 was 3,391,0':0 bales compared with 4,316,0':0
bales for the same period in 1929-W0.

The production of standard cotton cloth increased 2.4 per cent during
March on a weekly basis vwhercas during the previous throe years production
in March has averaged slightly below February. Some increase in production
was to be exoocted following such increases in sales and shipments as took
place during January and February. Unfilled orders increased 34.6 per cent
S and stoc.cs decreased 12.5 pjr cent dairing those two months. Production is
still being curtailed which together with an additional pick-up in shiprr.cnts
during March resulted in c further reduction of stocks, the decrease .mount-
ing to 1"4.3 per cent from the end of F"bruary to the end of March. This
left the stocks' on hand at the end of March the lowest since the end of
October 1927. While the average weekly sales Jduriig March were lower than
during oithcr February or January they were still 8.7 per cent above March
production.

Groat 3rit .in

Weekly cabls from C-rcat Brit: in during the past four weeks indicate
that businescs betiucn Lancashire arnj t'.. Cri,:-.t is again dcclini.n: follow-
ing a brief pick-up during early March, which cano with the :nniouncnmeUnt
of the ending of the Indian boycott. The d-.cr-a:se in business is probably
duo to a considerable extent to the fcclii"- of unicrtainty as to the trend
of business n.r.d in -.art to the declining prices of raw cotton since early
March. Total exports of piece goods to all countries during M;rch amounted
to 136.4 million square yards compared '.ith 1-'6.3 million square yards in
Febrt-.ary and 281.3 million yards in March 1930. DurinE th:o past ton years
exports of piece goods have averaged about 18.9 million yards over February.
Total exports for the eight months endsd March 31, 1931 amounted to about
1,159.8 million square yards. This compares with a total of 2,276.2 million
square yards during the same period last season or a dccreasc of about 49
per cent.





C-63 -10-
Ex-orts of yarns during March mounted tc 10.8 million pounds
compared with 9.3 million pounds in February and 12.7 million pounds in
H-rch 1930. The total for the season to the end of March was 85.0 million
pounds, 19.1 million pounds or 18.3 per c, nt below the sne period last
sa.son.

Ccntinntal Euroe d-uring March 1i

A significant decline in raw cotton prices accompanied by hesitancy
on the part of buyers, featured in the continental market during March. The
improved confidence, so aii.aront in February, had not been seriously
disturbed up to the c-nd of Larch, however, a.s is evidenced by the fact that
set-backs in raw cotton prices vwrc readily accepted as good opportunities
for price fixing. The trao.d seemed to consider the market "well balanced",
a term conveying the idea that present conditions justify neither significant
advances nor important declines of raw cotton prices. At the beginning of
April liquidation of May longs and professional selling, however, caused
considerable uncertainty among the buyers.

T.o. prices oven in early April vwre considered reasonable and the
advice to buy, or tc fix prices on every- decline, was quite generally
circulated among continent-al s-oinnors. Factors considered as having a
favorable effect on the present situation are, more hopeful reports on the
cotton mill and trade situation in the United States, improved raw takings
on the part of Japan and China, low yarn and cloth stocks in important
cousur'i:.g regions and prospects for some increase in consumer and trade
buying, at least in the second part of the year. On the other hand, the
slight pick-up in American fertilizer sales and the unexpected growth in
sales of Russian cotton at Liverpool this yzar have had a bearish effect
upon tra.c s ntirmnt. Te semi-annual report of the Federation at Manchester
was also considered depressing.

Total spinner and weaver sales of cotton yarn and cloth on the
Continent showed little, if any, improvcmc-at over February. Vthile a slight
revival was evident in central Europe, therc was no change in France, other
western Euro- can countries and Italy. The existing keen competition in the
yarn and cloth trade leaves spinncrs' margins rather small.

Spin:,ing anid weaving mill activity, on the Continent as a whole,
scems to have shown a slight improvcinnt over February, mostly as a result
of the situation in central E.r-one -w.-hre operations have boon somewhat
increased.

As might be cxpocted, with wjaker prices in raw cotton, spinner
purchases of Amerrican and other cotton during March were considerably smaller
than in the previous month. There was still interest at the brC-nning of
March, particularly for Indian cotton. Purchases fell off she .i- after
that, however, and have rc.nained quiet throughout the rre.ainder of March.
Spinner price fixing, however, was of good volume orn evey setback in New
York. C.I.f. import purchases by merchants at Bromen were also reduced.

Ge nnarn

Cotton textile conditions in Germany show no significant change
from a month ago. The -orcsr-nt situation might be characterized as a hesitant
maintenance of the slightly improved conditions recorded during February.
I7 ased on report dated lpril 2, 1931 from Assistant A-ricultural
Uoin.issioner Dourld F. Christy at Berlin, supplemented by cable on April 11.







C-69 -11-

Spin.'er 0S.lc of cotton ;rLnl -yar. ..ave been somewhat :.r,,..r, es :.ii-ially in the
Americen section. .ost rf the i,-:rrease, hr,-:'ever, is in short term orders,
whic.i 5o ot as:ure i:iinten.nc? o- improvement for the industry. Cotton
wevevrs, ;.ot b:ly t.osc i So. t..r. Ger.an' .y, reported a pick-un in new orders
bu tco'- iio: ws v.ry '.-ei, cu-- -rices were at rock bottom.

In vi'n of the nucr. re 1.ce. i .l ill stocks, the recent improvement in sales
of ,yarn r -r.: /,jrics has led to a slight incr-,.se in mill activit:- :.-i:-l. I:arch.
Tnis is "./;' rcntl;, so;.iew:at i aT .nsition to the efforts of the spinner cartel
whi c'. ;':i i,,to efrfet on 'T;rch 1J. As sa'-, -sted in our last report, however,
the c-.rt'- ""-s -not set up as 3 strictly production reducing sche.ae, and in
view o0 t. e jr.ct ti.at only aboi.t 50 per cent of all spindlts are u-nlr cartel
control, a slight increase in spin.ner takin ns for "c 1ch is not surprising.

h:.ce-.t for a snort *rrioj. of acti'-ity early in Morch, spinner and im-
porter b- ;;i-;, at 3re-nen was mu.Tch reduced as a result of the declining price
tende.-ic in thie raw market. An; 1 setbacks in the row- market, however, were
use! b.:- .jyiiA:crs for -.rice fixii.g on old contracts.

Czecho o-a.::i ,-_u n A.... *stria.a

Coi. laints ol thie low'v liel of yarn anid cloth sales continue in
Czec.oslovel-ic :rid Austria notwithstanding the contin..ance of a slight seasonal
revival. K.ill activity in botn countries show significant declines ra.n"1inJ
from 10 i o 20 .-cr cent below last .ear. Czechoslovakian weavers and spinners
are seriousL; concerned about the trade policy situation. Sales to Hun ary
are cut o'.f because of the tariff war existent since December 15, while the
lack .o. concessions to the Czecnoslovakian cotton inh..stry in a new- treaty
with; Yugoslavia ai-'i thie e::pect.ation of the abolishment of the r'.-sent trade
treaty ':;i t. --.stria are .1Oso dc,-'ressing factors. The proposed Tariff Union
between; G-r:.r.n; and Austria, unlle:Zs joined by Czechoslovakia, would also be a
serious '.c.a-.icn.p to the Czjcl;-oslov'j:ian cotton weavers, but we.ld at the s'.me
ti.ie pro.:otc tthe Aastrian cotton, "arn business with Germany.

France

7rance reported s qT'iete-r .no-,th. February improvement in s3alas of Oarn
and clot:' I-.' 'v:,*' to r. con.:idrabl.: hesitancy on the !prt of buyers, due
to tnc w-,-:nin.,: rr.-.w cot :.i iar-':e-t. ."'iile i]or : .13 I.y mills were in a relatively
satisf-:.;cor::. onition, r:r.striction of mill activity was es.-ccl.ll- severe in
the V-,s.. s -A.d in Alsace. iiii] activityy conti:nued at a reduced raotc in
orthr-n -r'- .c. S-i.nrer p.:rc.:;- of raw cotton durin, ::arch v' Ore consider-
ably bllo': Tebrucr;, o ,t setbacks in the cotton ia.-rket still called for
imporZ-.-t .:'ice fixing.

I taly

I:o c:.-. are ire.ortc.-, fr Italy, cotton mill conditions continl.i._
rather u..setisfactor/. 2c'tn sninlnin-g and wc aving activity b.ave bee about 20
per c-it below last ,coar. Soin.-er purch:.ses of raw cotton were n :,i..: limited,
and price. i-:in' was only -'ndrate. Supplies of raw cotton in spinners
hands cr 'jo.:cht for future .llivcr;' are small, however, ltein ,.2 ch below the
past two -.yars. WIVilc :yarn stocks. in s;,in.''.i. mills are above sto- :s at this




7'



C-69 -12-

tinm.e lr"st 'ye'-r, uYL' L..d .-.rldrs now o. h:.-%:d : ..'L c d.siderably lo ow t:cose for
th. s3a *t.: t a year ago. '-ill sales of :yan and cloth, registered a. sli ht
inrorov-.'rie.t d.rinr.: Febru.i-r:, but they were very low in tn,: )recedin;- months.

Po land

Poland reportss that diri-. _, bruary spinning mills increased o-,.rations,
alt.:-.; 's ol ya-an were -unsutisfactory and mill stocks were risiTn,. The
inc-:.;- :.i o ,crvtio:ns wgs again reported as res-j.tin,; fror t.-: efforts of
ti'h l Circ illss to force oi.tsiders into t..w; cartel, t:c existence of which
t:; h:i to rc;n/ for a period of tree yc'.rs. To date all negotiations to
re-e.vtablis. t c.c cartel have failed :ind tnhe ovur;j.:ent is considering the
issu.l.cc of a decree, or the passage of lc isletion, ,;'rescribin-. a coi-pulsory
Prodi.ction cartcj. for cotton soinnrs. Sini:,--r de;nnand for raw cotto:- remained
limited.

Rus si a

As .a rovio:. b(.cn indi,:;cate prospects for i.nnortation of A~-erican
cotton" ito USSR a'r very poor. A recent st .tr-nti o' tnic chair man of the
Textile nion to t.-i effect thit no cotton will be inmorted froi the United
States .l.ri:-. tio.: cu.rrent seaso:, inmrel.- confi-nis previous reports. At the
sar: ti.no, so'i 120,000 biles of cotton from Soviet Russia are rc-jortcd to
niave, b1.3 sold ct Liverpool this se.-.so comirn.rcd with only about 7,0O bales
a yc -r a:. TI- q..ality of the cotton is reported ars similar to that of good
gr-ad T.';:rs cotton. Some triel Y.rchiascs of Russian cotton ':ave also been
ini.d b;,- PoliK.: cotton sills which, prior to the wor, were 7oo.,d cons'anicrs
of Co..uc:c ti : "r.i C...itr-li :-siatic cotton.



r:.-. l.Itions in Jap.n during late .:-.rc.r continued f-vor,-o.ble for the con-
su:.tLo:. IC An l'ricL cotton w,. denJ for hii-.r count -.rns (.30 and above)
was ot, c:rii. to r.- .ort from .10-is1 .icov,_r at Kobe. As a re-sult
t.. 2-.rri-.r. of Americ-il cotton ':zich :.ad bc:n li`-t oromiced to increase
considrac.'o:.- in vi,:w of th-: l..rg:. siip.icrnLs g.flo:.t .t tnrt time whic- wore
reported to -.vc b.een about 350,000 b.jls. T-is l.r,:e snhiimrnnt of %mnric
to ;ct. r ''i: 230,0:'0 b-rl s of I:n''i.ai cotton ..:flort fo:r Jr.pan g:.ve n'rolnise
of n:1t o.:1i -'ilding up low sto-.'_s but of cre..tin;j s.:fSicicnt stocks to cause
spot .Iic s -t least for -.'\.nric-n to go bclo'.v re olac.-:n;t prices. T.iis ans
nanC.d it p, st, b-.t ..as be..n ,s'.uall; of short duration. Visible stocks
of '.11 cotton ;t ti,: end of Febru--ry tot led 315,000 bales com~r.ned "'ithi
412,000 b.Ls ~c.;- :r .:-rli .r.

D.:. to th.c artificial sc'arcity pt.uduced by the curtailed outo".t, good
dornm.tic d' .r. .1 d oi inanii'ul,--.tion, yPrn prices have continued i :ih :r-d
soi.li1in; o : rations i.ave n v'- ,:rofitable. Sinners w sold forward
iinto Ji.L; K...c Auhust. rce new curt.ilin,-nt vote Vhich was to ,:o i:to affect
April 1 rrd::ccd ttic nomin7.l :'-t.; froi, abo-ut 3-1 car cent to 50.c per cent.
Tii- 'r..pocts are t:irt the c.rtailment -rgrcki iunt will be rodacud to 27.2 per
cent ff':c Live July 1. Erurin ; Jon..-r;; -'nd F.::bruary J.p.:.n imported 20,000
ba.les of C:Ai:oese yarn, but prices were not so favorable in late .r-rc- for a
contin:u-.tio:i of ya.rn imports.






C-69 -13-

China

T ..r: --.r b L.r. na .ir2 -Li.--:.: -p. "' .r outl t for hi cofL1t -".-:s
recc.t;L ir Cl:.iJ: r.c"crii.A u .r *.-.ol fro Lri A cultur:h Co ;-ais-sio.0 1r _1'yhs
F
at 3. -_ .-.i .c. i',.;-d April 1.f This .._.- t.'- od in scvveral Chl:lls T ii1s
r- t,.i.r.:i:v to ,.- s i~ .:io-. of .i_' cu:t -'-r-.. after period of s)in_ .in'
onl l o 1 i 7 1 o .'u:t.. '- rn -..- c,:s ..-., -. .- a .:. t- rI... --.t low in rel: tion eo thc ,rice
of I:; cc rto.., '.:,'.i ric *. ,f I i .. co tt -.. i-.vo boon too higl to Iri .':
norin.1 ..i- s ,o.-3ible, cc..s "i...t.l:, :-:,l usincss was bc in do-~ in
Amric-:. co t t.i i.

.it.'- C. i.:cs ".ills Co .. i., c- *:. ,-ofit.abl o)cr:-tions -"ald slo
forw-.rd oo:,.r,, ',cti .', or.'r io:.. co, i,.., t 'iir output w,-s boin- Lori"r:. ::cd
and t_:.-'r.: -. :c o e.xcc, ssiv- .'C".L ri t-.)". .. .. .r.' stocks. T-' J :o.' .s ills,
on t:.c ot...r '- .v.i, contin.i to 1. so1.;3 cL.t :.': 11 for. W rd.

'iduc :_t i "n .cre ._ cr 'r, ,'^..i :i.-.: r 'or't

Esti :.t'. t .c r'-i crO n r-.i) r '''0-.-l r-"d c: .

T:: :-..orl cotton cro, f,:r t .t,: I1,0-i r. son is rli.-.l, to bLO b .;bout
25,500,000 b-l!s of 478 p.ouid: .. t co;:i,-ir. 'l -'ith 26,300,000 b'-i1:s il 1 .1 9-30.
In tn.:. ;.i;it S tr: s t,_ l .:i. nn s t.ot-1..l l. 3,?0,000 b-les, r docr-c:,e of
313,000C' b.,.. s Ju.d r t .: ,:;sti-:'T.e i:: Dcc ,b.r *:,d 8 8,000 b-les less- ,1.s the
fin..l Eti,.: t.- rf Irst ; -.r's crop.

I:. 'iost of. te pri.icipal fr ui.-i,, cotto-. producing countries recent
estin.i,.t.. .:,.rc c...siier 't :l ; below *..rii .:stiln-.tos for this season ,x. pLre,
in i-'21y cas.cs, less ty-n t... estir-t..-.; ,t this tinme last season or tihe final
estin-t- cr 1st ,c.r. In Indli t::e fi..r. tin-n.te of 4,033,000 b-ics is
256,030 b>los lower tn-, tr. r.-'.'isud fi..:.1 ,.-..timrte fo r last sc son. In L:~rpt
thie 17t.t o-cicil ofti; t. of 1,697,OC0 b-.,..s is 20,OOC b:-lcs 1:ss tln;
last ''. fi:.' stiv.t: r.d 4,';0C bai..s be Low the earlier estimate for
this s -so::. '."...., tl.<. re l.tions: ip b .t'/ 1.r: .: innings to A3. '. 1 1 :: the-
fin..l 'ic.t.,: ,.: tre nst t:.'o s-ro:- .'c c no, prcd "ith the :in:in;s to April
'1 of t.- is Z.--cJ- the: i::.j.c tij.: r:. t lCt t.:.i year's estimate. mv still' l be
too i. ti e oo i he st.gi Lo-.::;'.'tin.. Sud-a: crop ,was also rcccz'tl:-
red'.c:. f:-o0,:. 171,, 'C to 113,000 ..ales.

I:. ;::::ico r. cts 3-: t:.'t ti: r.:.t crop will be -t least 77,000
ba.lcs icss th'.i ':.st season's *..il- tBY..: rr-:ilin cro- is e:,:iocted to d:ccrtase
from .550',CCO 1 .les to 400,00 b--l'_s3 .:- tn, ?-i ivi-:: crop is expected to be
abo: t 10 *-..r cc:nt .ss t:--; l.st. -,:.r. It is ,t'ub.blo that a reliable
esti..-t: : t,. C..i'..se .cr, :.rill jo.t be .'.'-ii-.ble until summer, accor '.. to
A-ric'j.l':a.r-1 t':t" coAe :.'Jnu.:-- t S.,.:.-:'-i, b.t ..._ stated earlierr in the neason
th:.t t.ic i:ilic tio-: rLi ;-t c'o for 1-r.:r cr1,p on the whola, r.lthnou- i:- some
section th.: cro i ,.,,-c L :J to b- s. ilcr tr,-; last year.

Unitc. S t-c.

t...it;' t 1'30 c T 1i '30' cop in the Unitcd St'-tes : as of
consider-.b._y bet tr quc lity th:,:i th.,- 1:'- :-. crop s s boun shown by c, jrade
and st-.l r:. orts whic ;h.v.j b.-.n rei. s id. ,The, report for thl total crop




C-69


which was released April 17 shows that 54.6 per cent of the crop -was tender-
able on features contract whereas only 75.7 per cent of the 1929 crop was
tendcr.ble. Onl;: 2.0 rer cent of the crop was untenderable in grade this year
compire.1 'a.it1 4.l1 per cent last y-ear. Tne greatest improvement in quality
was in t.ce staple length. In 19.29 t-i .jer cont of t.ie cron which was un-
tenderabl.- because of staple amounted to 18.3 per cent whereas this year there
was only 12.6 per cent untenderable in staple. Of the 1930 crop 24.9 per
cent ".as i5/i6 inch to 31/32 inch in staple length. Only 18.9 per cent of
the 19i:' croj fell in this group.

Fertilizer to;, sales Th.e sale of fertilizer in the cotton belt is
given coni,.:'rreble attention at tnis time of year because of its rel-.tion to
acrz.l a:ic tihe influence it has on yields in some States. On the average
tag sa.ls ?.urinr the four months December through ::arch represent abo:t 66
per cenit o- tLe seasons siaes and s les in April about 20 per cent of the
total. Fo' t..e four months ended lMrch 31, 1931 trg sales in tne South were
only 65.5 ..er cent of the sales during the same period last season. Soles
durii-I- II;.rci-r ere 72.5 per cent of I.'.rch 1930.

.-i .iL-_ low i n ~ )t "-innins of all cotton in F.ypt for the season
to April 1 a.irunted to 1,292,000 bales of 478 pounds net, according to a
cable. received by the Foreign Service rf the Bureau. of Agricultural Wconomics
from the international Institute of ,Ariculture at Rore. This further sub-
stanti,.tes the evidence presented last month, that the official estimate of
the .'ptir.n cotton crop was too high. The E'gptian Government's december
es.tii.?.te placed the crop at 1,697,000 bales for 1930-31 compared with
1,725,000 -c-s in 1929-30 and 1,672,000 balas in 1928-29. The ginnini:s to
April 1, however, showed a decrease of 262,000 bales or 16.9 per cent from
those for t::c corresponding period last year and a decrease of 212,000 bales
of 14.1 per cent under ginnin-s to April 1, 1929. Ginnings to March 1 this
year '.ere 15 per cent below those to IMrch 1a year ago.

Of the total innings to April 1, 1931, 326,000 bales were of the
Sakeliaridis variety. Tne ginnings of Sakellaridis cotton were down 163,000
bales or 53-1/3 per cent from those to April 1, 1930, and were 30.6 per cent
or 1l-4,000 uales below those to April 1, 1929. Ginnings of other varieties
amountcli :lo SC3,000 bales vw.ich is a decrease of 9.3 per cent or 99,030
bales .ro.-i .-.oe to April 1, 1930 and a decrease of 6.5 per cent or 67,000
bales fro.- those to A.pril 1, 1929.

S'.'.bstentiatin, the decrease in innings of 16.9 per cent from those
of last y'ear there has been an equal decrease in the receipts of cotton at
Al ex.-vnri a..

Both last year and the year before giniings to April 1 amnoited to 90
per cent of the final production estimate. This year innings to April 1
amnounte'. to only 76 per cent of the December estimate.

Acute water shortage in Egypt for 1931-32 crop With the plating of
the 15,31-32 E.,ptia_ cotton crop well along, there is every indication of a
real su nrmer water shortage, according; to Cotton Specialist P. K. Horris at
Cairo. A c.ble dated April 8 stated that, effective .lay 1, there would be
increased restrictions on the use ol w.ter on cotton lands in lower end middle
Egypt, and that rice growing nad been prohibited in those areas. As early
as ..Carc.r 16 certain water restrictions were already in operation. At that


-14-





0-69 -16-
time the fields were bein, watered for 6 days, with th'e itches closed for
15-day intervals, instead of the 6-d-a intervals practiced in years of ;ood
water supply. The water conservation programs 'a.s started. very early in te.e
season. Storn.e de.is were practically full in M'arch, but the r:-te of inflow
was even then regarded as below the s-;ring pinti.ng reqliremoents.

The 1931-32 season so far has been re.ardedr as a "poor Nile" se:.son
resembling those of 1932-23 and 1923-24, Mr. I:or-ii, reports. In those t'.,o
years the yield ]per acre averaged 360 pounds whereas d-jrin the thrl'-? seasons
1927-28 to 1S22-30 the yield avero-ed about .419 pounds per acre. *T.3 ,'il'e
has been low .11 winter. A :'paren:tly the annual Abyssini.an floods were too
light to -.eep the head waters of the '.ile in -,ood volum.e. Tre c.trrnt situation
is reviving interest in the coirmletion of a dam south of Khartoum be;uL several
years a.o. Th-e importance of cotton in Egyptian national econom r rill insure
that crop first consideration in tne distribution of available water this season,
Ordinarily there is no restriction upon the growing of rice, which.uses much
more water than dces cotton per acre, and is regarded as less iinortant.

Anglo-E3- ;-tian Sudan

On April 2, a revised official estimate of the 1930-31 Sudan crop was re-
leased which sowed a reduction in the estimate of 58,000 bales, the December
1 estimate was 171,000 bales of 478 pounds net and the latest estimate is
113,000 bales. This is 29,000 bales below the final estimate for last season's
crop. According to Cotton Specialist P.I. lorris who haz recently convoleted an
extended trip throaun the Sudan the reduction is due largely to the da,.iae
done by the !eaf curl and black arm. The greatest damage was done,in the
Gezira district. Trhe March 1 estimnt.e for this district was 123,000 bales, but
the indice.tio:se are now that the crop in the Gezira province may reach about
65,000 bales, naif of which ,Ias already been picked. Black arm is of long stand-
ing in Gezira. while leaf curl is new and widespread, l.r. Yorris reports. The
leaves and breaches half way. up the plants have been destroyed by the bloc.: arm
and the -prod'.cers are not able to control it.

The To'L.r area which is usually next to Gezira in cotton production is
expected to produce only about 9,300 bales this year, this area also being in-
fected with leaf curl. The third largest cotton area is around Kass..l. '.w".ere
the crop will not exceed 10,400 bales to 11,400 beles.

Russia

;7ith t-ie attention of tre local correspondents in the cotton r. 'ions
concentrated on the approaching sprin; plaritin-. cernpai-n, reports on the develop-
ment of -Russian cotton procurings have not al]ear-:.d in the Russian press of
late. The l:.crge acreage increase pla-nned for cotton this :'ear necessitates the
concentration of all forces on the preparation for this campaign. Prospects
are not ver:, satisfactory, however, in most of the important cotton producing
regions of the. Union. Slow transpo-rt-tiot of0 sowi:- :.ietcrial and rainn are
greatly complained of, while a shortage of feedstuffs, of fuel for tractors .nd
of qualified workers is also reported.

PlouLhin, for the cotton pjantii: car.'paign began over practicall' all of
Middle Asia around March 20. Trial piontin..s were re.]orted at so',c' points and
plantimVs are c:.pected to develop on a larger scale at the beginning of April.
Timely seding" is greatly urged in view of the fact that, according. to past
experience, best yields are harvested off fields planted around -tpril 13,
whereas a del:- of a month sometimes causes considerable reduction in the yield.







0-69


Table 2.-Europe 1/ ; Cotton consr;mjntion by growths, half years, 1920-21
to January 31, 1931

Season American : East Indian : Egyptian : Sundries : Total
beginning -----------
Half year ended
AuG. 1 :Jan.31:Julyl:Ja31:July31:Jan,31:July31:Jan.31:July31:Jan.31:July3l
:1,000 1,000 :1,000 :1,000 :1,000 :1,000 :1,000 :1 :,000 1i,000 1,000
:run- run- :run- *run- run- run- run- 'run- 'run- *run-
:ning :ning :ning :ning :ning :ning :ning :ning :ning :ning
:bales :bales :bales :bales :bales :bales :bales :bales :bales :bales


2,220:
2,793:
2,944:
2,371:
2,961:
3,372:
3,327:
3,791:
3,480:
3,071:
2,182:


1,660:
3,097:
2,339:
2,524:
3,392:
2,915:
3,547:
3,301:
3,044:
2,458:


382:
419:
518:
668:
641:
674:
523:
489:
657:
785:


: 787:


329:
463:
586:
780:
650:
557:
414:
594:
676:
778:


198:
256:
313:
405:
414:
352:
374:
379:
392:
384:


: 310:


126:
290:
348:
418:
367:
373:
384:
373:
374:
332:


617:
498:
501:
482:
525:
908:
901;
866:
1,014:
1,280:


: 1,303:


43: 3,417:
418: 3,966:
466: 4,276:
400: 3,926:
648: 4,541:
1,081: 5,306:
1,092: 5,125:
1,167: 5,525:
1,275: 5,543:
1,266: 5,520:
: 4,582:


2,158
4,268
3,739
4,122
5,057
4,926
5,437
5,435
5,369
4,834


Compiled from reports of the International Federation of I.aster Cotton
Spinners' and 1 Manufacturers' Associations.
1/ Includes Great Britain, Germany, France, Russia, Italy, Czechoslovgkia,
Belgium, Spain, Poland, Switzerland, Holland, Austria, Sweden, Portugal,
Finland, Hungary, Denmark and Norway.

Table 3.-Asia 1/: Cott6n consumption by growths, half years, 1920-21 .
to January 31, 1931.

Season American :East Indian : Egyp'tian Sundries Total_
beginning: Half year enled
ug. 1 :Jan.31:July31:Jan.31:July3l:Jn.31:Ju3ly51:Jan.31lJuly3l:Jan.31:Julyl 1
1,000 :1,000 :1,000 :1,000 :1,000 ;1,000 ;1,000 :1,000 :1,000 :1,000
run- : ru- run- :run- :run- ru- ru- : run- :run- : rn-
:ning :ning ninni :ng ni-r :ning :ning ;ning ning ning n
:bales :bales :bales :bales :bales bales :bals :bales :bales :bales


1920-21
1921-22
1922-23
1923-24
1924-25
1925-26
1926-27
1927-28
1928-29
1929-30
1930-31
Compiled


274:
486:
487:
316:
333:
431:
686:
840:
670:
728:
602:


317:
545:
372:
345:
439:
581:
1,070:
673:
761:
699:


from reports of


1,516: 1,599: 8: 11: 39: 416: 1,836: 2,344
1,932: 2,101: 16: 22: 477: 503: 2,911: 3,171
2,198: 2,078: 21: 19: 663: 599: 3,369: 3,068
2,083: 1,839: 17: 22: 611: 740: 3,027: 2,946
2,047: 2,118: 26: 23: 748: 775: 3,154: 3,355
2,076: 2,197: 18: 24: 671: 637: 3,196: 3,439
2,268: 1,935: 27: 24: 724: 638: 3,705: 3,667
1,784: 1,605: 22: 21: 593: 1,053: 3,239: 5,352
1,877: 1,889: 20: 23: 697: 783: 3,264: 3,456
,156: 2,247: 27: 31: 890: 935: 3,801: 3,912
2,185: : 35: 839: : 3,661:
the International Federation of IMaster Cotton Spinners'


anda i:anuiacturers- Associations.
1/ Mill consumption in India, Japan and China.


1920-21
1921-22
1922-23
1923-24
1924-25
1925-26
1926-27
1927-28
1928-29
1929-30
1930-31


-16-


1' T -


'





0-69 -17-
Table 4.--'merica /: Cotton onson csi n b.: .-rov.-ths, h alf ye.:.rJ, 1923-21
to J.unu..ry i1, 19A

Season : -.ncric:.:i : '.st I ..'ui : .. )ti.'. : S-aidries Total
beginin: .- if -'e.r nded
::.J. 1 :J .'.3 J-.:'1y351j 'Ji '. :Jul:1 J..1:l J:.T -:.J...r;.31'JulK'5;1 J-:.n.Y1: J-l: .l
T1,000 :1,0"0 :1,' 7 ,":1 :- -:' ,,0 :'],''O *~"'I0 -":, 1-' :1 ,o00 :1,000
runn-- ru- r'- .- rr:- I: r - .'.- r- _- "rLn- run- ru-n-
: .inr ;ning nin' :- .n ; nin ln :in.; ning
:halos .balcs :"b.ies :b- ls :1.ls bs :b b.. :b.'.s :b:.les bales :bales
1920-21 : 2,291 2,52: 3 6 : 60 : 53 : 103 : 266 : 2,459: 2,848
1921-22 : 2,967: 2, 54: 6 5 : : 74 312 : 361 3,568: 5,294
1922-23 :: 3,228: 3,290: 8 : 77 105 : 84 : 500 : 3,617: 3,908
193-24- : 3,022: 2,502 12 15 79 : 75 5: 04 :286 : 3,416: 2,876
1924-25 2,876: 5,17 1: 1: 16 : 56 73 423 : 367 : 3,571: 3,643
1925-23 : 3,151: 3,253: 13 : : 7 : 74 : 506 : 552: 3,742: 3,868
1926-27 : 3,375: 3,702: 13 : 15 : 78 : 90 21 : 371 : 3,785: 4,178
1927-28 : 3,559: 3,171; 15 : 12 : 67 27 : 377 : 4,082: 3,627
1928-29 : ,C3 ,598: 10 : 25 : 78 : 87 : 62 5 39 : 3,858: 4,039
1929-30 : 3,2--: 2,750: 31: 30 : 33 : 585 : 295 : 3,749: 3,140
1930-51 : 2,463: : : 270 ; : 2,800:
Co.Apiled. from :;orts of th:e TntnCr .'on .- Fo6Lcr:Lti'.on C:,f i..ster Cotton Spinners'
and. I'anmif.ctu.rurs' ..ssoc atio.s.
1/ Includes U.-ited S-l-t.s, C nd.., ;.::ico -.d E.razil

Table 5.-Gre,.t 3rit.-i.in. Cotton consu L.vt ti on. rotis, :alf :ears, 1920-21
to Janr.ar,' 31, 19'>1

SeaSO. rCsoin -ncric :. .a. t Lii: ;'.t:' .ai : Sunldrics Total
------- ------- -! - - -.- -.-i .-'. Ii -,--- - - I -- -- -
begi n.m i : f c on I.(.!
Auj. 1 :Jzn. 31 .Ju.'l.;"j ...1 Jul n1: .n. 1AJul.- l:Jin.31:JulySl: Jan.351:July31
:1,000 :1,000c .1i, '0 1,0 93 ;1,00 .1,30 .1, 000 :1,030 .1,300 :11,00
;run- ;rv.- t.- r: t- i r-.L- : rv.- rui- rijn- ; ri- : run
:inin 3 :nii:. i n n n.- :nL i' 'L. i, -. i- .n.ing :ning :nin
:b-.l-s :b.les :b t-,lcs :b-!os :b-lcs ;b..1?s :b-i.los :bales :b. les :bc ...s
1920-21 : 1,09 57; 2 1 15 85 : 46 24 : 1,312: 712
1921-22 1,107: 1,163: 2 27 : 13 : 163 : 74 125 : 1,376: 1,4 8
1922-23 : 1,096: 823: 53 63 : 14 20 134 : 164 : 1,506: 1,64
1923-24 : 15: 850: 37 : 101 : 235 : 24 : 200 ; 153 : 1,377: 1,341
1924-25 : 1,0 32 1,252. : 7 23 j 1. : 152 : 125 : 1,5..: 1,672
1925-. 6 : 1,16: 37: 35 : 73 : 11 20 : 204 166 : 1,646: 1,376
1926-27 : 94: 1,137. : : 136 : 182 2 42 240 : 1,416: 1,594
197-28 : 1, 07: 922: -7 : 74 '17.2 1 275 : 201 1,51: 1,333
1928-25 971 : 2 91 191 174 : 186 : 155 : 1,-440): 1,360
1929-30 : 830: 594: 1i : '28 : 16 : 134 2.3-1. : 1,415: 1,050
1920-31 : 4-3: : 131 : 210 : 23 976:

Co.1pilecd fro.n reports of tic Int3rrntion] ruol SpTinners' andi ;Tanufctlirrs' Associa.tion.3.






i






C-69 -lc-
Table 6-.Germany: Cotton consumption by grovrth.s, half years, 1920-21
to January 31, 1931

Season : Amrican East Indian :' E3g-ptian Sundi-ies : Total
boginnin :- Half jo-.r cindcl
Aug._ :Jan.51:July31:Jan.351July.351Jan.31.July3,1:Jan.31 :J'.lv :Jan.31:July31
:1,000 ;1,000 :1,000 :1,0o:0o .1',00o -1.0 .1 000'o :.1i 0 :1,000 :1,300
run- run- :run- run- ;rni- :-un- r- r'.- :run- run-
:ning :ning :ninG :nigng :nin; ::ni.n :ning :ninr :ning :niln
:balos :bales ;bales :b,.los :b..los :balos :balcs :bales :balos :balos
1920-21 : 272 : 372 : 102 : 103 9 : 14 : 20 : 5 : 403 .: 4-94
1921-22 : 442 : 469 : 109 : 110 :21 : 20 : 11 10 : 583: 609
1922-23 .: 448 : 3:6 : 126 : 94 : 21 16 : 12 .: 9 : 607 : 455
1923-24 : 272 : 424 : 85 : 123 : 19 : 27 : 12 : 10 :388 : 584
1924-25 420 : 96 : 10 : 103 : 26 : 31 16 8 8 : : 643
1925-26 : 479 : 405 : 152 : 72 24: 19 : 12 : 5 : 647 : 501
1926-27 : 565 : 6-9 : 94 : 73 : 31 : 36 : 12 : 13 : 702 : 776.
1927-28 : 677 : 599 : 95 : 117 : 34 : 29 : 18 : 16 : 824 : 761.
1928-29 : 550 : 474 : 122 : 130 : 36 :34 16 .: 16 : 74 : 654
1929-30 : 468 : 455 : 144 : 127 : 38 : 40 : 26 : 25 : 676 : 647
1930-31 : 364 :115 : : 36 : : 0 : : 556

Compiled from reports of t'o Intern-tional Federation of L.soter Cotton
Spinners' and ICanufacturcs' Associations.


Tabla 7.-Franco: Cotton consumption byr grouths, half yo:rs, 193-21
to January 31, 1931

Season : Timrican : "2st Indian : E'-oti..n : S vriries Total
beginning: ;a'if year ended -
Au,3. 1 :Jan.1: July.31:Jc:an.:Ju'1:l1:Jan.31:July31:J.jn.TJ -LL' :Jl n.31:July31
:Y,o000 :1, --0:,n3 :-,5 0: :i, o-00 -.',-JJC ",'Yf,":" ', 0- ":T,'00- ":TJ,3Y"
:run- :run- :r- r- run- :run- r- ri- run- :run-
:nin.g ning .ninJ ;ning :nin; :ninj :nijn :n.nin 2-1in :ning
:bales ;balos :balos :bales ;b-los balos ;balos :bl:2- :lcs :balos es
1920-21 : 314 269: 34 : 35 : 25: 17: 22 9 395 330
1921-22 : 349. : 450 : 41 78: 29 45 : 15 : 28 : 454 : 601
1922-2 :400 390: 71 96 : 46 : 47 : 31 : 95: 551 : 628
1923-24 : 358 : 42: 106: 92 : 46 : 57: 33 29: 543 : 520
1924-25 : 373 : 430: 77: 83 : 59 48 : 21 : 23: 533: 589
1925-26 : 411 : 424 : 70 : 93 : 50 56 : 36 39 : 567 : 612
1926-27 419 : 406 91 : 68 : 51: 49 64 : ; : 625 : 557..
1927-28 :407 422 78 102 49: 46 41 35 575 : 605.
1928-29 : 419 405: 105 112 : 47 59 42 3 : 613 : 614
1929-30 : 380 : 38 :100 :12 65: 53 4 : 57 : 589 : 582-
1930-71 :371: :121 : 49 : : 54: : 595 :

Conpilcd from reports of tCe International Fodcr .tion of ::.stcr Cotton
Spinners' and -anlufacturors' Associations.







C-69 -19-
Table 3.- C:'nm 1 ~ Cott.ot: cm'-.:?*. !on ro-:ths, :..:f ;': rs, 19,0-21
to J._-n ..r-- 31, I'' 1I

Season ilerican ]r.st Indian j- ptia.ni Stmuiries : Total
begi- t ... :" .H- 'lIf -7-.r cnl:- -
mit 1 :Jan. A1:July3l.:Jr t.. 71:Julyr 1:;:i'.'51; Ju.1y3 1: cJ o i.'1 Jul -J -. 1 -Jly 1
:1,000 :1,000 :1,000 :1,00 ,-'0 1, 00 1 i,000 1,000 :1,,000
: rui- .rLu1-- :rn- : rui : .Li- r:- ru 'rl,- :run- :run
:nin :rin.- nin.; :nin- i, : :in. : ii nin :nini : 'infl
:b.les ;bales :bls : :b;..lez ;.b:.es :bales .b-les :b .is :bales :bales
1920-21 : : -: : : : :


1921-22
1922-23
1923-24-
1924-25
1925-26
1926-27
1927-28
1929-29
1929-30
1930-31


57
73
31
31
46
113
151
121
130
164


95
37
47
1-0
74
161
146
158
162


186
171
140
145

23S
108
218
199
278


214
136
191
195
22'
201
200
180
26,-1


515
623
542
5T)
597
C223
509
605
7 5
735


1150
515

609
549
553
901
775
776


:739
: 870
713
:766
:910
:1,000
769
:944
:1,093
:1,180


760
739
:858
844
845
:920
:1,247
:1, 013
:1,204


Compiledi from reports of the Intern,.tiorn.]. Feder.2.tion of ;: .s'er Cotton
Spinners' and I.Tantufacturero' Associations.
I_/ .11ill consumption onl:.

Table 9.- J-pan: Cotton consj.nntion: by grow7ths, h.:-lf :ye:rs, 1'",C-21
to January $'., 19Jl

Season : .iIrican : -st I..im:n : l'tian : S'ndries : Total
beginini: 1-If '-ear en:ei'l
A:.-. 1. :Jv.n.1:Ju1 3l;,3J"n.31 ---:Julil'J-.'.- :JulJl1:J.n.i1.J.-3..v:.:Jan.31:JumLl1
S :,000 ;1,000 1,0.3- :1,00c ;o,000 .1,03 0 1,o" -l,3j:1 ,000 :1,000
;ruI- lrun- .r'.i- rLun- rut- run- :r- r- ri-- run- run-
: nin .nin- .nin; :nin i niv 'iin_, :nin3; nin- :nin; :ning
:bales :'ales :bales :bjrles :bales :bales :bn-es :bal.-s :bales :bales
1920-21 : 337 : 285 : 723 : 293 ; 7 9 6 2: 2 :1,115 :1,009
1921-22 : 565 : 431 : 695 : 735 : 1 14 : 40 :.0 :1,112 :1,250
1922-23 : 395 : 330 : 845 : 87" : 14 : 17 : l : 8'? :1,23. :1,29:3
1923-24 : 282 : 27 : 732 : 15 : 21 : 55 : 1l3 :1,174 :1,163
1924-25 :296 : 393 : 751 : 77 20 : 9 : 114 131 :1,181 :1,278
1925-26 : 383 : 49 : 381 : 89 : 16 : 19 C.4 :1,344 1,472
1926-27 : 513 : 619 : 840 : 716 :23 2 67 50 1,443 :,408
1927-28 : 572 : 506 : 676 : 565 :19 : 20. : 55 : 123 :1,322 :1,219
1928-29 : 522 : 575 : 757 ; 751 : 19 : 21 : 63 : ?5 :1,341 :1,425
1929-33 : 573 : 519 : 070 : 827 : 22 : 0 : 79 : 87 1,544 :1,453
1930-31 : 426 : : 755 : : 15 : : 45 : :1,241
Compiled. from reports of the IntornA'tional Federation of lster Cotton
SSpinners' an .IManufn cturers' -'ssoci tions.








T blc 10- India 1/:cotton consnm tion by crowths, half years, 1920-21
to January 21, 1931

Season : American East Indian : E ptian :Sundries :Total
begi rmninin: H alf y-e'-r ended -
Aug. 1. :Jan.31: July31:Janr.31 July1:.Jan.31.Jul:1 Jan. 31: July3: Jan. 31; July31
:1,000 :1,000 :1,000 :1,000 :1,00 :1,'000 :1,000 :1,000 :1,000 ':i,000o
run- :ru- n- ;r- r- : r : rTu- run- :run- :run- :run- :run-
:ning :ning :ning .ning :ning ning :nin ni :n :ning :nin
:bales :b.les :bales :bales :bales les bale s :bales :bbles :b s bales
1920-21 : 1 26 : 1,109: 1,079 2: 4 2 0 : 1,114:1,129
1921-22 : 35 : 1 : 1,1: 1,102: : 7 : 20 23 : 1,163: 1,151
1922-2 : 21 : 5 : 1,182: 1,015: 4 1 9 :15 : 1,216: 1,036
23-24 : 3 : 1 : 1,121: 916: 2 : 1 : 14 : 7 : 1,140: 925
1924-25 : 6 : 6 1,151 1,196: 6 : 4 : 44 27 : 1,207: 1,233
1925-26 : 2 : 8 : 929: 1,06: 1 : 5 : 10 : 23 : 942: 1,122
1926-27 : 60 : 290 : 1,170: 1,018: : 1 : 29 : 30 : 1,262 1,359
1927-23 : 117 : 21 : 1,000: 840: 2 : 1 : 29 : 24 : 1,148: 886
1928-29 : 27 : 25 922: 958: i : 2 ; 29 : 33 : 979: 1,018
1929-30 : 25 : 18 : 1,087: 1,156: 4 : 9 : 48 : 72 : 1,164: 1,255
1930-31 : 12 ; : 1,152: : 17 : :59 : : 1,240:

Compiled from reports of the International Federation of :aster Cotton
Spinners' and iuranufacturers' associations.
I/ ;ill consumption only.


Table 11- Italy: Cotton consumption by growths, half years, 1920-21
to January 31, 1931

Season : Ai rican E st Indian : Egyptian Sundrries : Total
begiruning: Half year ended

:10 :1,000 :1,000 :,000 :1,000 :1, ,00 :1,000 ;T,0 ,300T :1,000 :1,000
:run- : run- :run- :r- :run- :u- : run- :Un- :run- :run-
:ning :ning :nin :ning :nin: :ning :ning :ning :nin nin
:bales :b-.les :b .les :b.les :b .1]3s :bales :bales :bales :bles :bales
1920-21 : 302 :260 : 111 :97 : 12: 8: 4: 1 : 429 : 366
1921-22 : 264 : 509 : 101 : 99 : 8 14 3 375 : 425
1922-3 : 327 274 : 108 : 131 0 4 5 4 : 460 : 433
1923-24 : 281 266 : 136 : 17 : 33 :33 : 6 9 : 456 : 486
1924-25 : 293 : 346 149 : 19 : 6 : 28: 10 :11 : 478 : 524
1925-26 : 355 : 357 : 154 : 120 : 22 : 28 : 10 : 11 : 521 : 516
1926-27 : 342 : 338 :106 : 78 : 25 : 4 :11 : 8 : 484 : 448
1927-28 : 342 : 355 : 81 : 98 : 24 : 24 : 8 12 : 455 499'
1928-29 : 372 37 : 111 : 114 : 25 : 8 :10 9 : 518 : 524
1929-30 : 355 :309 13 :128 30 : 15: 9 : 53 : 468
1950-21 : 240 : : 120 : : 22 : : 11 : 93

Compiled from reports of the International Federation of TMaster Cotton
Spinners' and 1-anuf.acturers' Associations.


C-69


-20-






C-69 --
able 1-'- Russia: Cotton cons_ 'ption b'j ,ro.'t .s, nialf years, 1920-21
to J:un:.r 5!, 1951

Season : .'..ierican. : L.t Indi.. : .- an S_.rie.-as o ot:.1
be irs in -: .lf .-e..r 'i ]
.'-.:. 1 : Jan.31:Jul--31: Jv.i.l;Ju- 31J:J.... T. Jul 1: Ja.n.1;~lJ1J.n.31:July 31
1 " ,0 ; :1'-,0 ;.' "I., 9 '.' ;",-"' :;, "j ""0,000 0 :', Y0 "1,"3
; r'Ji- rr. i- rIL'-- r "- r,- r-i- rn- rm- run- : run-
:ning :nin- nin i".v :"n'I:- ;nin5 ;nin; ...;L n;:ni :ning
:bales .bales :balas .bales :bo: .s .balss ball es -bales :bales :bales
1920-21 : : : : 520: 250 : 521 ; 252
1921-22 : : : 4 366 229 : 372 ; 257
1922-23 : 1 61 : 1 24 151 2: 2113
1923-2 : 81 131 : 19 10 : 194 : 162 : 294 : 303
1924-25 : 153 : 15) : ; : 29 : 20 55 : 442 : 472 : 612
1925-26 : 214 : 59 1 : 24 610 : 821: 847 : C05
1926-27 267 : 12 : :: 31 : 524 : 762 : 821 : 916
1927-2 : 76 : 117 : : 57 34 466 33 : 879 : 35
1928-2 : ? : 73 : 3 : : 705 998 :1,058 1,094
1929-30 231 : 52 : 52 : 1 : 27: 25 : 816: 845 :1,126: 853
1930-31 5: : 61 : : 25: : 845: : 983

Co.mpiled fro:m- re-uorts of I!tLern.tio-..l reer.xjtioli i.Laster Cotton: Spi:.ers'
and !i .Lnufacturer s 3 soc i a ti ons.
j/ No returns received; these fiU.res are t`.e same as for the r ecedin" half
year.

Table 13- VWorld mill concsunmjti. of ,ottori b;- -rowths, hi;lf y'crs, 1920-21
to Ju:.r; "1, 1931

Seasons : :-neric.ai -t I.n I 'i E 'pptfm : Sirii'es : Total
be.gi~uingj: .f- - - '.i' e, i,. -. -


:nib "in :nin ; e ;niL :Ynr7inj rin: "iini

:bales :bil;s ;b.les :eales b .'; s ;bules :bales :bales :bales :bales

1920-21 : 5,159: 4,371: 2,155: 2,244 J 222 1,43 1,C: 9,194 8,4-01
1921-22 : 6,251: ,536: :-,..57: C,59: 3,2 : 586 : 1,308 1, ':2310,278:10,889
1922-23 : 6,G62: 6,00-1: '2,724 2,673: 418 4800 : 1,580: 1,597:11,384:10,759
1925-24 : 5,712: 5,395: 2,7'3: 2 ,6-1: 507 : 521 : 1,428: 1,458:10,415:10,015
1924-25 : 6,207: 7,049: 2,72: 2,789: 500 : 470 : 1,729 1,818 11,168:12,126
1925-26 : 6,974 6,756: 2,75: 2,"77: 44 : 477 : 2,135: 2, 23:12, 538:12,343
1926-27 : 7,423: 8,357: 2,31: 2,37: 437 : 506 : 2,001: 2,171:12,20:13,412
1927-28 : 8223: 7 ,131: ,5 03: 2,220: -9: 467 : : 2, 685:12,: 7:12,533
192.8-29 : 7,613 7,46:: 2,7-: 2,604: 427 : 492 : 2,134: 2,455:12,863:13,014
1929-50 : 7, 03: 5,94: 2,95: 102: 502 'I5.: 2, ..2: 2,530:13,202:12,007
1930-31 : 5,27 : ,013 3- : 2,479: 11,164
Co:.':ilel from reports o1 the Ir-ter.aLtion-a .i e.'.eration of T -.s-ter Cotton
Spilners' and. la's -cture:s' -ssociatlor.s.


- - - I -. - -








I
















































'I









C-69 CO":TETS ?.;e

1 SxLnrary . . . . . . . . . . . . . . 1 3
2 iur- Tr T..E Cotton Pros.. ect. . . . ... . ...... 4
3 Prices. . . . . . . . . . . . . . 5
4 Stocks -,ci ncv/r mcnts. . . . . . . . . . . . -- 7
5 Tc::ti t o . . . . . . . . . . -10
6 Ejrop, 10 -12
7 J pan . . . . . . . . .. . . . . . 12
8 Ci. .a . . . . . . . . .. . ....... . 3
9 Pro-.ction, acrea.;e .nd. crop con.-;iition r .ort.. . . . . -15

TABLES

1 Cotton, Ar~lrican: Continentl s] i:tn:r-' t.:ins, *3'cifield
riods. . . . . . . . . . . . . 8
2 Zaropc: Cotton consanption b;,' Lrowiths, nalCr .rs . . . . 16
3 Asia: Ccttcn consujnption by Growth s, n;.if ;'rc ., 12i.0-2i to
J,"n cr;, 31, 1931 . . . . . . . . . . . 16
4 America: Cotton consu'aition- b,,y rowvtn +, naif 'c( ars, 1920-21
to Jrr:.r,- 31, 1931 ... . . . . . . ... 17
5 Gre-t Erit.in: Cotton consumnjtion b:, *ro..ths, hrlf, .rs, 3-
21 to ;n : a'.ry 31, 1931 . . . . . . . . .. . 17
6 SGr..iany: Cotton consumption by ;;ro'tns, r.rlf ,yrrs, 120'-21
to J ar-31 1131 . . . . . . . . . .. 18
7 Fr:,-cc: Cotton consumption by' growths, hlf '&rs, 1920-21
to Jc.i.-r 31 931 . .......... 18
8 Ci.;.: Cotton consum,ntion b;:,- r-)ths, h, lf -,srs, 1920-21
to Jn:- .r-l 31, 1931 . . . . . . . . . .. 19
9 Ja.an: Cotton cons-imtion by growtns, half ::r: 1920-21
to Jr.-vrr- 31, 191 .. . . ...... .. .... 19
10 India: Cotton consu'-i.tion by gro.'ths, hialf :;,- rcs, 1"Y.0-21
to -).--l.\ r;' 31, 1931 . . . . . . . . 20
11 It..ly: Cotton consumption b"y rowt-hs, half ,,:' rs, 1920-21
to J.na:rvy 31, 1931 . . . . . . . 20
12 R'issia: Cotton con.runption b'y ,rowtis, half ;-.r.rs, 1. 20-21
to J-.nu-ry 31, 1931 . . . . . . . . . . 21
13 .orld. iill consumption of cotton by routns, h:al ;.f .rs, 1920-
21 to J .n ry 31, 1931 . . . . . . . . . 21





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* "nmj .. *^ j UNIVERSITY OF FLORIDA


I 1 1262 08863Ill IIliiiIIIIII 11097llIII ll
"I 1113 1262 08863 1097


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