The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1897-11-03

addition to the STOCKS OF European and
American markets at the end OF the
season would not be burden. In-
oeed. such an increase II stocks, by
serving to prevent such sn undue ad-
vance SIS occurred last summer, would
stimulate consumption. have thus
indicsted how, with low prices. crop
OF 10 9G0 600 bales could te disposed
of, sltbough the probability cf so large
q crop is too remote Tor serious con
sideraticn. Indeed. undercertaio con
ditions, tha croo msy fail 1000. eco 10
l. 500,C coo bales shor; CT that quantity.
When prices are low It is astonishing
how nuch more cotton is consumes,
and how quickly q big sible>sUpo?y
disappears /; our crop should be 10
C0Q, 600 bales arG the sp;2nerS but
only what Mr.. Ellison says they will
probably peed fer sctual consumption,
the re suit would be an addition OF less
than 600, 600 bales to the stocks OF Ea-
ropean and American markets s. the
end of the seasoo. #, IN January,
when arrangements being made for an-
other crop, low prices should prevail.
j. nay safely be assumed tnat the
acrease IN cotton will be materially re-
GpceG. It will be g matter Of neces-
sly and not entirely Of choice, from
the simple fac: that Investigations,
made by me as sscretsrv Of an lives
tisatipg Committee CT the senate. con-
vince me that msj ,ri!y Of those WHO
raise cotton csnDog produce /; ST 81
low cost as the amount they would
realiz9 from present prices.
A probable surplus Of 600, Geo bales
over the actusl seq :iremenls q spio-
uers from the present crop would hSve
no spprsciaaie effect IL preventing
the advance from the low prizes 9alca
would certainly follow The balief IN
ary considerable curtailmeut O. scrs-
sse OF the next crop. Tie 600, coo
bales would be quickly absorbed by
sp;nners. and prices might be carried
np as :nuch TOO high IS toey are nov
too low. 1t is urged by some Of tncSs
who hope tha: co.lon will 20 still low
er. aad who wcuid profit - the de
clire, that print cloths sre selling now
st the same lov price g. which Ife7
sold during the se&sou OF 1891 IS,
when cotton reached the Low price OF
5 9 IL, AID they argue from this that
because print cloths have declined to
the low price of that season, that COZ
ton should also decline to the low
price to which il fell in that great d.
preston. Atfrst this Statement seems
plausible, but it reveals only one hall
OF the truth. The other half OF the
history Of that season is tnat the price
OF print cloths, in consequarce OF the
small stock and good demand, did not
decline IN anything like the same de.
gree as the decline in cotton. As 3 re
suit of the far greater decliae IN cot
ton goods, the cotton mills Of the
country did profitable business. The
dividends OF the Fall River cotton
mills icr 1895 averaged sbcut S per
cent. against only about 8 per cent.
for the previous year. Indeed, the
mills Of the entire country Were ex.
ceedingly prosperous during tbs sea
son Of 1S9495. Moderate prices,
which will afford the spinner 8 fair
margin OF profit, and YET give ths COT
ton growers a fair and proper reuu-
neration for his toll, are IN the end,
for the best interests alike on the man
uiacturers and producers OF cotton.
ALFRED B. SREPPERsoN.