The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1897-12-01

ays:
Members os tae C3.ton Exchange
here and in othe. cities are somewhat
excited over the proposition tc form 6
gigantic trust Of all the cotton r2isers
Of the South which is being advocated
by John 7 Eoddey, 3 prominent bro
kac Of this cjay. TEE exchanges are
opposed 10 toe scheme. Il SUCH q
trust is forned tae brokers' say their
business will oa T1iGed, 50 far as ex
ercising any control OF the market is
concerned. The trust will be able to
practically dictate tie price O. cotton
in the open market"
The Mercant;Iean and Financial Times,
New York, says this:
L has long 1aon notor:cGs fact
that ne original producers Of c5ttoa
IN this country &c: fer sola!!er sha1e
than aijY92dy else otthe prof : waicn
| it yields b.tora It reaches the m:lI
Spectators, brokers'. sPin2ers and
capitalists manage 10 secIre bulk Of
the rich returns which tee mafi aicent
cotton fi4Ids of the South render pos,
sible The trouble IS that the cottoa
grower as 2 rule has not capital
enough to enable him to handle his
product as ne would Ike TO. To a
large extent he has goue in debt for il
before il was raised; and waen IL is
picked h7 has no chance. IN the ma.
j4rity o. cases, but to sell It for what
ever he can get. Tne cotton producers
OF the Sou;h ought to De rich men by
rights. That they are Tot is oaly too
well knoTD.
'Ms Joho T. Roddey, a NATIVE Of
Souta Carolina, no7 doing business
IN New York sS member OF the cot
toa brokerage firm Of John T. Roddey
& Co., has suggested plan whereby
the cotton growers shall form a gigan.
tic combination Or company.
As may De supposed, Mr.. R0ddey's S
suggestion has caused a tremsnd 1us
5 nsation. Tae Spectators IN New
York aa& elsewhere are alarmed BE-
yoad measure and the Southern plan
ters are delighted. There is 40 doubt
but the thing can be done il those
concerned will but put their should
ers to the wheel.
If fve cent cotto Will not stimulate
the planters to make al effort 10 help
themselves, We do no! know what
will. It IS q lite cersain, also, that
unless they 40 something, aad that
right speedily, tae7 Will get d9aoer IN
the mud than they are nov IN the
mire.
Fcom the New York Tc;bIne, Nov. 13.
"Tae bear element ia speculative
exchanges is one Of the most vicious
Obstacles thu industries o. the colltry
have had to contend against. The de
pressing influence the b5ars OF sp2cI-
latioa nave mad for the lss5 year upon
legitimate trading has been oae OF the
unfortunate features Of TIE hard times
aad recuperation under their savage
attscks has been SLOW. Natural con
Gitions may, OF necessity, compel pri,
c2s to drop, out then the bears force
them still lower, never taking any
thoug ght OF who IS to bs the loser. The
bear element IN speculation has caus.
ed more distress, b2nkruptcy and ruin
than any adverse condition OF the
times. Il is AZ element that stops al
nothing TO make profits Tor itself, and
it ravels in its success.
Unfortunately for the people OF the
South their staple product, cotton, has
for the LAST year been the football o!
the ooerators Of decline in the trading
on the cotton exchanges here and
abroad. There has been no let up IN
the steady warfare they nave carried
on against it, and every possible trick
AID device mas been used to hammer
down the price. =