New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-26
HOLDING BACK COTTON.

A remark in The Tribune about Southern
associations advising planters TO hold back their
cotton has led to rather angry response from
one or two readers who positively deny That
such advice has been given by any association
II seems that similar assertions have been made
in letters to "Duns Review" and other Journals
because these had also referred to facts quite
we'll known to all who observe current news
A very brief recital sufiices to end all dispute
about the matter The Southern Cotton Grow
ers' Association, Of which Hector b. Lane is
president whether directly affiliated or not with
various associations of like nature in the differ
ent States, has certainly accorded entirely with
the organized effort made by them all to secure
higher prices for cotton in 1905. first by restrict
ing acreage about % per cent, and second by
keeping back cotton until the old supplies
brought over from previous years should be used
ND. There Is nothing improper in that effort,
nor was the slightest blame imputed in the NEIL
ton Of the facts.
Early in the marketing season press reports
recorded action by this or that organization
urging planters to hold back their cotton as far
as they were able The following quotation
from the official circular issued by the general
association Of all Southern cottOn-growers fixes
beyond question the character OF these efforts.
1t was issued within week after the beginning
of the new crop year. as the following press
dispatch shows:
New-Orleans, Sept. S.-Hector ID. Lane. pres-
dent OF the CottonGrOwers Protective AS
ISOLATION, has issued circular to Southern cot
tom growers which appears to-day. He says:
THE English and European spnners
have been induced to believe that the
official reports OF crop conditions and acreage
| hat fha M ia
ample. and that even present prices are alb
normally high. Their main hope and argument
Is that the South will market and sell the bulk
Of its crop in four months My earnest advice
is to market cotton with reasonable intelligence.
Do not rush IT all forward between now and
Christmas. DO not press It for sale, except where
absolute necessity compcls. The spnners must
have your cotton Their mills are going with
profit and the loss attendant upon stoppage
is too great for consideration. Husband your
cotton and sell II when they need IL. and then
you will get what II Is worth.
On the day this circular appeared cotton was
selling at S.37 cents M New.York. and 1t is now
selling at SO cents The planters have de-
lvercd about 30 per cent less than last year to
date Northern splnners have taken 1876 per
cent less and foreigners have taken by export
80 per cent Legs than last year to the same date
Had the movement of cotton to market been
larger, without doubt depression Of price would
have resulted. Whether the rapidly Of market
Ing has been at al affected by the urgent ad-
vice above quoted and by similar advice OF other
bodies. everybody can judge for himself II
that advice has had effect the proportion OF
cotton remaining unmarketed Is to that extent
larger than 1t would have been otherwise. Lest
people should remember the advice given and
arrive at the natural conclusion that the guam
tity remaining TO be marketed Is larger than
Southern reports make 1t appear, some dealers