The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1895-07-24
SUMTER AS COTTON MARKET.
From the Daily Item. July l8. !

The question Of the prices paid for
cotton in this city and elsewhere aud
the methods of buying cotton pursued
here is being discussed by the farmers
and others, and is being used to the
detriment of the business interests Of
Sumter by those who will be benefited
by the transfer of trade from Sumter
to Camden and other towns The same
assertions made 10 previous years are
going the rounds again, and will un-
doubtedly have the effect desired by
those who are circulating them, unless
the merchants and cotton buyers Of this
CITY take some decided measures to re-
fute the statements. 1t is said that there
is cotton ring in this city, composed
of some half dozen or more merchants,
who are able to dominate the market.
and that they fix the price that is paid
the farmer. This ring, it is said. will
not allow the regular cotton buyers to
buy from the wagon. but sell out the
cotton that they have bought during the
day to the buyers in the afternoon, and
by this method the members of the ring
make profit on the cotton. This be-
lief is firmly rooted in the minds of a
great many people, aud it is an almost
useless task to argue the question with
them. It is fact that cotton sold for
more money in Camden than in Sum-
ter on several occasions. and this ia
claimed to be indisputable evidence that
there was something wrong io Sumter
although it is also fact that ou other
occasions prices were higher 10 Sumter
than in Camden. The latter fact does
not appear to weigh at all with those
who have become possessed of the Sum-
ter cotton ring idea. And what is
more to the point, We have it from sew
eral reliable parties that the matter is
being agitated at present with per-
sistence and system that is proof that
there is purpose to drive trade away
from Sumter and, if possible, destroy
her importance as cotton market.
The business mep OF Sumter will find
it to their interest to take measures to
counteract the effect of the damaging
reports above referred to. and to settle
beyond the possibility Of doubt the ut
ter falsity Of the assertion that ring
controls the cotton market in Sumter
and deprlves the farmer Of part Of
his profits.
From numerous conversations with
the merchants of the city, we are satis-
fed that they pay the full price for
cotton at the time it is bought, and
that it is very often the case that the
market falls off decidedly in the after
noon, and that the cotton bought in the
morning is closed out at loss to the ex-
por, buyer. There are days. it is true,
when the price advances during the
day and the merchant closes out at 8
profit. But this would not benefit the
seller in the least, for the merchants
who buy cotton receive hourly reports
from New York and the price they pay
Is governed by the reports; and they
pay Just as much as the men who buy
for export But Of this We 6nd it i'm
possible to convince many men who seem
determined to believe that they are
being defrauded.
Under the circumstances We believe
it would result to the benefit of Sumter
and increase the cotton trade, if the
merchants would agree to request al
cotton buyers to buy from the wagon
1t would mean more work for the buy
ers, but that is what they are supposed
to be here for.