The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-07
CANT GET RAW MATERIAL
MANY HAVE NOW LESS THAN A
HUNDRED BALES.
THE TIME FIXED FOR SUSPENDlNG
Plenty Of Cotton in New York and in New
Orleans But the Freights Are so Heavy
That They Cannot Afford
to Buy Il.

The situation Of affairs now confronting
the cotton mills of North Carolina, and
indeed of the whole South, is a very seri-
Gus one.
They are daily finding it more and
more difficult to get cotton to keep their
hands employed.
Within the past few weeks they have
avoke to a realization of the fact that
there is little or no cotton in the country.
1t cannot be bought at any price for the
simple reason that it is not here.
The last crop was much shorter one
than was generally imagined and it has
been more completely marketed than has
ever before been known at this time of
the year. And then the buyers have not
ben storing it away as in tn past; they
have had shipping orders for all that
they could get, and more.
This is accounted for by the fact that
during the season 1S95-'96 the brokers
and spinners in Manchester and Liver
pool and other European manufacturing
centres bought the staple very sparingly,
but used up the large stock that they had
been accustomed to keep on hand. There
fore during the past season QS96-9O ii
was necessary for them to buy very
heavily. This they have done and the
cotton has been to perhaps a created ex-
tent than ever before, sent out OF the
country.
There is, of course, plenty of cotton
stored in New York and New Orleans,
but it would cost too much to bring 1t
here: so it now looks as if the North
Carolina mills will have to close down
Already there is the sharpest kind OF
competition for the few hundred bales
found scattered over the country.
The mills Of this city are contem-
plating suspension of operations at an
early date because of insuficiency OF
raw material The other mills of the
State so far as heard from, are In the
same predicament, as are also those Of
South Carolina. Many of our larges
mills now have ON hand less than ion
bales and they have no idea where the!
will be able to get more. A few of then
have already fixd a time for closln&
down.
This is much to be regretted, as it will
not only temporarily put stop to th'
production of wealth in one of our mos
important industries, but it will ais
throw out of employment thousands o.
people who can do nothing else and coult
get nothing else to do during the sum
mer no matter how well they coul'
do it.
1t is to be hoped that this cotton famin
will teach wholesome lesson to Southern
mill men and that they will not agail
be caught by so short-sighted a policy
There is some excuse for it, though, Thu
time, when it is remembered that hereto
fore one could pick up hundreds of bale
almost anywhere, at any time and a
almost any price.
The Labor Commissioner has received
reports Of seventeen new cotton factorie
in the State within the past year. Th
last one reported is at Rutherfordton
1t was erected several years ago, bu
before the work was completed the pro
ject went through and the building ha
since been standing idle. New machiner!
is now being put in. 1t is being equipped
with $4,000 spindles and 600 looms.