The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1891-09-10
PRICES OF COTTON ADVANCING.

PRICES OF COTTON ADVANCING.
Telegraphic dispatches from the large
cotton markets show that the price of
cotton has risen number of points in
the last few days. 1t seems likely that
these prices will remain pretty stiff, and
may even advance some points yet.
This is the best news sounded in the ears
of the Southern farmers in many day.
The quotations for middling cotton in
Charleston on last Friday was s cents,
being rise of one quarter Of a cent from
the day previous. In New Orleans the
quotation was 8 Is is, rise of 11,16 of a
cent from the day previous. In Savannah
it rose from s to 8 1-8. In New York
the rise from the Saturday previous was
from 81 to ST. In Baltimore it rose from
s to 81. All the markets show an ad-
vance of from 1 s to nearly Of cent.
The question naturally comes up, Why
this advance in the price of cotton Z
Several causes have combined to bring
about tnis result. In Alabama, Missis-
sippi and Texas the crop has fallen short
of the estimates by large per cent
Cool weather, the rust and worms are the
main causes that will cut short the crop
from the estimated number of bales that
would be produced. 1t is estimated that
the crop in Alabama fell off by 90 per
cent. during the last week from cool
weather and the rust.
It is matter for rejoicing that the
price of cotton has taken an upward ten.
dency, but it is to be lamented that this
increase is due to the calamity that has
befallen the farmers of less favored re-.
gions than our own.
Notwithstanding the severe losses that
some sections will sustain. there can be
little doubt that an enormous crop will
be made any way. It is true, likewise,
that great deal Of last years crop is still
in the hands of the farmers. For these
reasons prices will not advance very much
higher, and perhaps they have now reach.
ed their highest-limit.
With these facts before US, we feel safe
in advising those who now have cotton
ready for market to sell, and urge those
whose cotton is opening to gather it and
put it into the market at the earliest day
possible. We know the present prices
are distressingly low, and lament it
heartily, but We remember that those who
held their cotton last year found the price
gradually going down, until it was worth
from II to q cents less than they could
have sold for.
There has been good deal of imprac.
cable talk INDUCED in lately as to how
prices msy be raised, such as holding
back one. thi1d of the crop, or destroying
one-fourth of the crop, or depositing the
crop in warehouses and borrowing go per
cent. of its value by some means. We
prefer to see others than the readers OF
the INTELL1aENCER enter this wild chase.
Should our readers agree to such
schemes az these, what assurance have
they that The conditions involved in any
of them will be observed by the thou
sands of farmers throughout the South ?
Those who disregarded them, granting
that every cotton producer entered into
the agreement, would reap benefit at
the expense of those who stood by the
agreement. There can be no doubt that
there would be many who would enter
such an agreement Bho would surely
break it.
We are not prophet, nor the son of q
prophet, but we do not hesitate to say
that it is reasonable to conclude that
present prices cannot 90 very mucn
higher and may go even lower than they
have been.
Of course the prices in Anderson are
lower than in the markets of New York
New Orleans, Savannah, etc.. but they
rise and fall in proportionate ratio with
Tho nrices in the large markets. This
market is governed by the New York
market, which in turn looks to Liverpool
for prices. We are not alone in the
opinion that he who sells his cotton af
early as be can get it to market will al
most surely realize . larger sum of money
by the sale than if he held it for one, two
or six months. The prices offered fo'
cotton in this market today "wednesday
may be found in another column.