Business & Finance: Important Map

On the top floor of the lofty New York Cotton Exchange building is the Cotton Board room. On one side of the room is a large map of the U. S., on which current weather conditions are kept posted. News of storms, hot and cold spells and rainfall are immediately reported here, and marked on the map. In the “Cotton Ring,” where brokers and traders are establishing the price for future cotton, the latter never long lose sight of the weather map. For just now, it is mostly a question of the weather how large the 1924 cotton crop will be. On Aug. 1, the Government estimated this year’s crop at 12,351,000 bales. But its report of the “condition” of the crop on Aug. 16 was 64.9—from which fact the trade is beginning to talk of a 13,000,000-bale crop. The boll weevil, while by no means eradicated, is not expected to be so severe a scourge to cotton this year as last. On the other hand, tropical storms sweeping up over the Cotton Belt from the Gulf over the Southern Atlantic section, accompanied by heavy rainfall, are worrying the cotton traders. Other troubles have appeared. “Army worms” are reported in Texas, and a hot drought in the western part of the belt.