The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1895-10-16
Ten and q Half Cents Cotton.

LQ0 Au6r1Cdu SOGCOIl OrOWcrS IFO-
tective Association, recently issued a
circular to the Association from New
Orleans advising them that they are
masters Of the situation, and begging
them to hold their cotton until they
get ten and one-half cents a pound.
In order that our readers may judge
for themselves we print below the cir
cular in full. Mr.. Lane says:
'Twenty days ago, in advance of
the bureau report, I issued a circular
stating the crop conditions and warn
ing you against hasty disposition or
marketing OF your cotton. The cotton
buyers and bear speculators ridiculed
that circular, but when it was more
than confirmed by the government
bureau, they began to have some re-
spect for my Investigations. Since
that time the crop has deteriorated to
such an extent as to amount to disas-
ter. No such weather has ever be-
fore been seen in the cotton districts.
The worms have continued to do much
damage, and even from districts like
the Tallahatchie river in Mississippi,
where the crop was said to be good,
comes reliable information of a 40 per
cent. deficiency. The best authorities
put the Texas crop at 1,750,000 bales.
The cotton plant is now practically
dead throughout the South, and a
frost tonight would do little if any
damage. In my opinion, the crop can
not exceed $500, 900 bales maximum.
Even Mr.. Neil has been compelled to
reduce his estimate to a maximum OF
1000, 900 or 1880, 900 bales, with posi-:
bilities of much less. What he termed
a possibility when his circular was
issued is now an established fact, and
it is difficult to see how Mr.. Neill, as a
statistician, can fail to recognize this
fact when he issues his next circulai.
'The situation as to the price of COT
ton is plain. The European manufac-
turers, relying upon mistaken infor-
nation given them about the size OF
this crop, and not realizing in time
that the world is on a 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 violating their
contracts. They, as well as the Amerl-
can spinners, are caught in a trap,
This crop is too small for all of them
to get their full share. America, Mex
leo, Canada and Japan will consume
a minimum of 100000 bales. This
will leave a. ZOO. 600 to be distributed
between Great Britain and the Cont
nent, against {, 6,s00,0oO bales last year.
This will wipe out the visible supply
and create a public panic among cot
ton buyers. The price of cotton has
come to stay, and to 60 very much
higher. Last year the manufacturers
reaped golden harvest by buying s.
cent cotton. 1t isnow yourturn. They
know that the crop is all open and can
be marketed before December 1st.
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 de-
press the price. I implore you not to
do this. Sell as they try to buy from
hand to mouth, and before January
you will have the American, English
and Continental cotton buyers out.
bidding each other for every bale OF
cotton you have to sell. Do not be de-
ceived by the advice of New York
bear circular disguised under bulls
hide. Under present crop and trade
conditions your cotton is worth 10i
cents Do not sacrifice it because last
year it sold for cents andnow is SELL
for 81 cents"