The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1897-09-29
Cotton.
Ono month ago-to DO precise, on Aug.
24-TNc state printed this editorial para

Ono month ago-to bo precise, on Aug.
24-TNc state printed this editorial pare
graph:
s'This is 9 year IN which no intelligent
friend Of the farmer will advise him to
hold his cotton for higher prices. The
prospect indicates aten.milllon bale crop.
Just now there is q great scarcity ofspot
cotton, and the starting up of many idle
northern mills, coupled with tho general
bull movement, adds stiffness to the
price. But this cannot last-unloss there
should be unexpected disasters to tho
maturing crop, the supply will much ex-
ceeQ the demand. In g month or So
perhaps in i week or two-there will DO
q slump, and from that timo forward the
price will sag. Tho bulk of the crop will
not soil for moro than 6 cents a pound.
Wise planters should sell Just as quickly
as they can get their cotton TO market
On tho 22fth of August middling spot
cotton was selling in New York at s
cents. On last Saturday, Sept. %, it was
selling there st G 81 cents. Knock cent
g pound off thatan you have the Column
hia price, 5 81 cents for miGdling. Our
forecast has been singularly verified.
"In a month or so''-indeed Tin q week
OF LNo #-llClS f[S q ~ II :
is now selling in South Carolina for less
than the G cents we estimated would be
the average price.
However, while it was wise to sell just
as quickly as tho cotton could be taken
tomarket whom the price was 1-2 Or S
cents, it may not DO wise to do 80 now.
when it is below 6 cents. In the month
that has elapsed since Aug. II, there has
been disaster to the fields. There is no
top crop worth q thought. Almost every
where the reduction in the prospective
yield has been large. The expected crop
in August was 10, 600 900 to 10000, 900
bales; now it is 100000 to 8 800, 900 bales.
The supply will not exceed tho demand
it is not likely to equal it.
That in the face of this reduction OF
about 10 per cont. the price should have
fallen lG per cent. would be unaccounta-
BILE but for two things-tho distrust Of
the government estimates of damage to
the crop and the band-to-mouth policy of
buying for the mills nov prevailing all
over the world. But in time the injury
to the crop will be proved, and in time
the mills will have to buy IN quantity
for their spring and summer spinning.
Therefore, in time the price seems sure
to rise.
- w q w IOt Lila lLob SNSii l @ SSAii
plete resumption of manufacture and a
demonstrated shortage in the worlds
supply, the price will rise for any long
period above Z cents in the homo mar
kets, but such a rise is worth waiting for
if one can afford to wait, and it seems now
pretty sure 10 come. Those farmers who
can hold their cotton long enough will
certainly not lose by it and may gain
handsomely. Those home mills that can
buy their years supply of cotton at pres
ent prices ought to do So. They arc not
likely to get even q fraction cheaper, and
if they wait they are pretty sure to pay
more for it.
Ofcourse there are many farmers who
must sell, and many mills that must buy,
from hand to mouth. It is q great pity
that the class Of each is sc numerous. 1t
is one of the penalties Of u southern
lack of capital that Judgment in selling
and buying must SO often yield to the ne
cessities of the pocket.-IHe State.