The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-19
COTTON GROWERS ASSOCIATION

One of the best gatherings held an
Raleigh in long time assembled III the
Hall of the House of Representatives
last night in Cotton Growers Conven-
ton. The proceedings appear elsewhere.
We will comment later upon the meet
ing.
The Atlanta Constitution yesterday
contained the following editorial that has
interest in connection with the price of
cotton:
in sight when South Carolina will con-
sumo her entire crop of raw cotton,
draws attention TO the ultimate con-
clusion that we will yet stop the cot
ton export!
Not by legislative enactment nor by
foolish attempt at boycott, but because
our people, learning that there is more
money in the manufacture of cotton
than In its expectation, will resolve upon
the former pan. That this possibility
is already in course of solution Is shown
By facts already commented upon, and
the admission by somewhat reluctant
Southern millmen, that they are always
ready to pay TO : points more for
cotton than the open market buyer.
lhls is the case in very large cities,
but in the smaller towns the margin
becomes much larger.
For the first time in the history of
the cotton market the price has been
set by the local mills of the South. But
the other day one of the general buy
ers in a neighboring town wanted fifty
bales for New York. He was met
by the local mill man who outbid him,
and the buyer had to report his in
ability to meet the order even at his
highest price. The situation, even to
the most sanguine Southern develop
er. is astonishing, and he is now inclined
to look over the situation as he never
did before.
Here it is in a NUTSHELL The demand
of the world TO be clothed in cotton in
stead of wool, and of teeming popula-
lions to be clothed now, which, never
called for it heretofore, has called for
more and more cotton. Notwithstanding
all talk of oyerproduction, the increas-
ing pile OF cotton manufactured each
year has found its way to purchaser,
and not a single bolt of it has been
thrown away. This cotton was raised
in the Southern States of the Union,
while the factories for its manipulation
existed either in England, $500 miles
away, or in New England, 1000 miles
away In other case, before one pound
of this material could be turned TO use
it had to be covered over by an inn
mense waybill, including commissions
for buying and selling, warehouse
charges, freightage and 10 per cent pick
age, sampling, etc. Surprising the price
OF this raw cotton to be worth to the
spinners S400,000,000, they had to pay
charges of the kind specified to the
amount certainly S100,000000, leaving
only 100000, 100 to reach the producer.
To state, therefore, thar onefourth of
the value OF the crop was expended in
sending it to these distant markets is
entirely conservative.
The cotton once at the mills, it still
has to be manufactured, and the neces-
sary commercial agencies have to be
called into play to place it in the mar
kets Of the world. The first expense is
one TO which the Southern mills are NOT
subject, while they can command the
commercial expense on the fabric as
well from Atlanta or Savannah as from
South can begin her cotton milling en-
terprises by wiping out the expenses
eonHected with the transportation OF raw
cotton to distant mills, and driving this
immense margin between themselves and
the farmers, benefit both. The $780,
1000 now going to railroads and ship
ping lines would enter into the price
per pound of cotton and dividends.
Cts 70 Full bfA1.f ont
by the events of the last few days, when
spot cotton was quoted in Atlanta at z
cents, but when the city mills were pay
ing rs, and those of Griffin, Monroe
jackson and other places We're paying
~. These figures reported back to
New York, and thence to England and
Germany, were a most convincing argu-
ment that the mills of the South had a
margin to work upon which was not
open to them. 1t became plain that the
Calcutta merchant, wanting cotton fab
RIGS, does not not need to pay cents
foD the product in Atlanta, lose a frac-
ton of it in samplings, pay freight $500
miles to Lancashire, with four railroad
landings and two by steamer, in order
to find a man who can manufacture
it, and then be at the expense of freight
from Lancashire to Calcutta on the
fabric, when he can get his ready made
goods at first hands from Atlanta direct.
Is il any wonder that with these facts
in view, there is such a movement tow
ard Southern properties as never exis-
ted before? When the little backwoods
Trion mill of Georgia, for instance, be-
gan the yenturesome work of manufac-
turing cotton goods, it's originators We're
fsfaI Nv L.. hat
they would be swamped by the attempt.
They We're told that England was too
well intrenched in the markets of the
world; that New England, with her
immense invested capital, would crush
out any opposition. Nevertheless, the
little MI kept on, and has been the