The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1895-10-09
Hold Your Cotton.

Mr.. Hector D. Lane, president OF the
American Cotton Growers Protective
Association, says the New Orleans
Times. Democrat, yesterday issued cir
cular to the Association, dated this city,
advising them that they are masters OF
the situation, and begging them to hold
their cotton until they get ten and one
half cents pound. Here is the circular:
"NEw ORLEANS, Septemb ber %, 1895.
"To the American Cotton Growers
Protective Association: Twenty days
ago, in advance Of the bureau report,
issued circular stating the crop condi-
tions and warning you against hasty
disposition or marketing OF your cotton.
The cotton buyers and bear spectators
ridiculed that circular, but when it was
more than confirmed by the Government
bureau they began to have some respect
for my Investigations.
s'Since that time the crop has deteriora-
ted to such an extent as to amount to
disaster. No such weather has ever be-
fore been seen in the cotton districts.
The worms have continued to do great
damage, and, even from districts like the
Tallahatchie River in Mississippi, where
the crop was said to be good, comes
reliable information of 40 per cent.
deficiency.
"The best authorities put the/Texas
output at l,750,0O0 bales, or less. The
cotton plant is now practically y dead
throughout the South, and frost to-
night would do but little if any damage:
In nv opinion this crop cannot exceed
6,500,000 bales maximum.
"Even Mr.. Neill has been compelled to
reduce his estimate to maximum of
100000 or 7,250,000 bales, with possi-
bilities of much less. What he termed
possibility when his circular was issued
is now an established fact; and it is diff
cult to see now Mr.. Neill, as a statiati-
clan, can fail to recognize this fact when
he issues his next circular.
s'The situation as 10 the price Of cotton
is plain. The European manufacturers,
relying upon mistaken information given
them about the size of this crop, and not
realizing in time that the world is on
trade boom, have sold manufactured
goods ahead until July of next year.
To make these goods they must have
your cotton or ruin themselves by rio-
lating their contracts. They, as well as
the American spinners, are caught in
trap. This crop is too small for all OF
them to get their full shares. America,
Mexico, Canada and japan will consume
a minimum of 3,000,000 bales. This will
leave 8, 500 900 bales to be distributed be-
tween Great Britain and the Continent,
against 6,s0O,000 bales last year. This
will wipe out the visible supply and
create panic amoug cotton buyers. The
price of cotton has come to stay, and to
60 very much higher.
ssLast year the manufacturers reaped
golden harvest by buying five-cent cot
ton. It is now your turn. They know
that the crop is all open and can be mar
keted before December 1. They expected
you to bite at the bait held out BY the
present so-called great RISE and rush
your cotton forward and press it for sale.
They will then stay out of the market
hoping that the weight Of the cotton
offered would depress the price. / i'm
plore you not to do this. Sell, as they
try to buy, from hand to mouth. And
before January you will have the Arneri-
can, English and Continental cotton
buyers outbidding each other for every
bale of cotton you have to sell.
"Do not be deceived by the advice OF
New York bear circulars disguised un-
der q bulls hide. Under present crop
and trade conditions your cotton is worth
ten and one-half cents. Do not sacrifice
it because last year it sold at five cents,
and now is selling for eight and one-half
cents. Your obedient servant,
"HECToR D. LANE,
stPresident of American Cotton Grow
II q r, .ls - "A <L,<, n a fioy1 ~.