Business: Cotton Report

Seldom has such a complete reversal been indicated as in the U. S. cotton report for July 16, as compared with that for June 25. The earlier estimate of the crop had indicated a "condition" of 75.9, and a total crop of 14,339,000 bales. Suddenly the statistics veered around, and the later report indicated condition at only 70.4 and a total crop of only 13,588,000 bales—a smaller output than the actual 1924 crop of 13,627,836 bales. The discrepancy between the two estimates for the current crop amounts to 751,000 bales.

The incident created many...

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