The Canton times. (Canton, Miss.) 1893-1906, 1895-10-04

HE TELLS THE PLANTERS TO
HOLD THEIR COTTON.

Mr.. Hector ID. Lane, president Of the
American Cotton Growers Protective
! Association yesterday issued circular
to the association. dated this city, advis,
! ing them that they are masters Of the
situation, and begging them to hold
cotton until they get ten and one-half
cents a pound. The circular is as fol-
lows:
NEW ORLEANS, Sept. 80, 1895.
| "To the Amer can Cotton Growers Pro-
| tective Association.
"rwenty days ago. in advance of the
bureau report, | issued circular stat
! ing the crop conditions and warning you
/ against a hasty disposition or market
ing 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.
Since that time the crop has deter
iorated 70 such an extent as to amount
to disaster. No such weather has
ever before been seen in the cotton dis
tricts. he worms have continued to
do great damage, and, even from dis
tricts like the !allahatchie 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 1,750.000 bales, or less. he
cotton plant is now practically dead
throughout the South, and a frost to-
night would do but little, if any, dam
age In nv opinion this crop cannotd
exceed $500, 900 bales maximum.
Even Mr.. Neill has been compelled
to reduce his estimate to maximum OF
1000, 900 or Z, $50, 900 bales, with POSI-
biities of much less What he termed
possibility when his circular WAS
issued is now an established fact; and it
is difficult to see how Mr., Neill as a
statistican can fail to recognize this
fact when he issues his next circular.
1.-The situation as to the price of cot
ton is plain. The European manu-
facturers, relying upon mistaken in-l
formation given them about the size Of
this crop, and not realizing in time that
the world is on trade boom, have sold
goods ahead until July of
next Year. To make these goods they
must have your cotton or ruin them
selves by violating 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 minimum of3 ,000,-
900 bales This will leave $500, COD
to be distributed between Great Britain
and the continent. against $500, 900
bales last year. This will wipe out the
visible supply and create a panic among
cotton buyers. The price of cotton has
come 70 stay, and to go very much
higher.
"Last year the manufacturers reaped
q golden harvest by buying flve-cent
cotton 1t is now your turn. They
know that the crop is all open and can
be marketed before Dec, /. They ex-
pected 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.
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 cot :
ton buyers outtidding each other for
every bale of cotton you have to sell.
do not be deceived by the advice of
New York bear circulars disguised {
lnder bulls hide. Under present :
crop and trade conditions your cotton is t,
worth ten and one-half cents. Do not
sacrifice it because last year it sold at .
i've cents, and now is selling for eight /
md one-half cents. Your obedient SER {
rant.
HECTOR d. LANE.
President Of American Cotton Growers G
Protective Association. a