The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-10-03
PRESIDENT LANES ADVICE.
He Tells the Planters to Hold Their
Cotton for Better Prices.

Mr.. Hector D. Lane, president of the
American Cotton Growers Protective
Association, last Saturday issued cir
cular to the Association, dated New
Osleans, advising them that they are
masters of the situation, and begging
them to hold their cotton until they get
1912 cents pound. The circular is as
follows:
'NEw ORLEANS, Sept. 30, '95.
ITO the American Cotton Growers
Protective Association
Twenty days ago; in advance of the
bureau report, / issued circular stating
the crop conditions and warning you
agai asst a hasty disposition or marketing
of your cotton. The cotton buyers and
bear spectators ridiculed that circular,
but when jt was more than confirmed by
the government bureau they began to
have some respect for my investigate ms.
E'Since that time the crop has deterl-
Grated to such an extent as to amount to
q disaster. No such weather has ever
before been seen in the cotton districts.
The worms have continued to do great
damage, and, even from districts like
the TaIlanatchie river in Mississippi,
where the crop was said to be good,
comes reliable Information of a 80 per
cent deficiency.
t'The best authorities put the Texas
output at 1850 900 bales, or less. The
cotton plant is now practically dead
throughout the South. and frost to-
night would do but little if any damage.
In my opinion this crop cannot exceed
o 500, 900 bales maximum.
Even Mr.. Neill has been compelled to
reduce his estimate to a maximum of
Z. 900. 900 or 1850, COO bales, with posi-
biIities of much less. What he termed
possibility when his circular was Issued
is now an established fact; and 1T Is
difficult to see how Mr. Neill, as stats
tician, can fail to recognize this fact
when he issues bis next circular.
1.-THE situation as to the price OF cot
ton is plain. The European manufac-
turers. relying upon mistaken informa
ton 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 Jaly OF
next year. To make these goods they
must have your cotton or ruin them
selves by violating their Contracts.
They, as we'll as the American spinners,
are caught in trap. This crop i too
small for all of them TO get thlIr Luii
shares. America, Mexico, Canada and
Japan will consume minimum oi D.,
O0O, 900 bales. This will leave ., Guy ,Ooo
bales to be distributed between Great
Britain and the continent, agains. 8 500,
900 bales last year This viii T.p9 cut
the visible supply and create panic
amons cotton buyers. The price Of t.
ton has come to stay, and TO 60 very
much higher.
last year the manufacturers reaped
a 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 Dec 1 They expec.ei you
to bite at the bait held out by the pre-
sent so called great rise and rush Jour
cotton forward and press 1t for sale.
They will then stay out OF the market
hoping that the weight of the cotton or
fered would depress the price. | imqsore
you not to do this. Sell as they Try 10
buy, from hand to mouth. And before
January you will have the American,
English and continental cotton buyers
outbidding each other for every bale OF
c1tton you have to sell
ssDo not be deceived by the advice OF
New York sbear' circulars disguised IN
der bulls hide Under present crop
and trade conditions your cotton Is
worth ten and one half cents Do not
sacrifice it because last year 1t sold at
five cents, and is nov selling for eight
and one-haif cents Your obedient ser
want. s'HECToR ID. LANE,
president of American Cotton Grow
ers' Protective Association"