The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-10-04
MILLS WILL
NOT CLOSE.
evil Have to Try Some
thing Else Besides
Threats"
From Augusta Chronicle.

From Augusta Chronicle.
"a week or SO ago messages we're re-
csived BY sone OF the southern cotton
raiI,s from New York saying that if
the price of cotton continued to ad.
ysnee as it bad just previous to the
] time the messages were sens out the
mills "a the Southern Spinners' assocla-
t;on would have TO close down The
dispatch was pretty promiscuously pub
lished and q number of the mills over
this state and South Carolina have been
deuyiag ever since chat they intend to
close at all.
President Verdery. OF the enterprise
Manufacturing company. was seeo by e
reporter yesterday and asked If ne
could say anyshiag as to what the Au-
gas.a mills would do 10 the matter,
Mr. Vsrdery said : Eve do not attach
any Importance to that report at all.
Nsne Of the Augus.a mill iosend shut
siiOp down on account of the prices at
Which cotton is selliug,sin facs, | can
Gee no indication of any Of the mills
1 stopping nnless cotton should advance
g the point where it will pay them
nesser 10 stand idle shaa to buy the
staple aud manufacture goods. and |
think 3ou may say that that point will
not be reached for quite while yet.
Il any Of the mills shut down for the
reason mentioned it will be some OF the
warn mills that are ncs selling their
goods and fcr that reasoo cannot atoro
"a buy shesS cotton at az advanced
price !"
The YoskviIle correspondent Of toe
News and Courier, speaking CO the
subject says
s.The statement in regard to the
cosson mills shutting down If the price
ST cotton continues co advance, IS
recognized 10 this section as an attempt
10 bluff somebody. as nobody has auy
idea that any mill 10 the South would
any more shink of shutting down uoder
existing conditions than would the
Standard Oil Trust. They kaow that
cosson can be manufactured very profit
ablg should it advance to 8 cents
nornd and manufactured goods remain
at about presens prices. The Southern
sSoinner's Association Will have to try
sonsshipg else besides threatening to
.shas dawn to cheek the advance 10 the
price OF cotton. E strikes your cor
respondent thar it would De most
sxee!seas business scheme For each mill
II the association TO buy ali The cotsoo
it can get the money to pay fer at the
present price, bscaase If It is not bought
sbV them exporters Will buy it aud sell
s 10 them at prices shas will csuse their
eyes 10 bulge when it is ali ous OF the
hanas Of the farmers. aDo those who
have been piDning sheir faith to Ne'ii,s
estimate realize that be oversnos the
marx By abers 2. 2.27O,00o bales
The News aud Courier ,says along
She sane line:
With money going begging at 3
ner cent and less it would certainly
seem TIA, tie mill man would run small
rick IL lagipg ia folly supply of cot
toa at tbe prices no@ prevailing. Ii
shey aad acted q week OF ten days ago
they would have los. no,hiog oy 1t. out
even the recent large advance IN prices
Sic not thought TO bave fully discounted
tns discrepancy which it is becoming
more aud more appareos will exist
between the sc.uai production OF tbs
wear and the estimates which have been
made By sbe noss enthusiastic bears.
The mills of this State now take in the
neighborhood Of bali million bales OF
cotton. Tsey have, ": understand,
been buying very literally as 1t is, bat
should they follow the, suggestion OF
our yorkville correspondent they would
not ooly protect themselves against
possible heavy losses. tat they would
pus life and vigos in our localmarkets
that could Dot fail TO operate TO the
advantage of tue farming and general
industrial Interests of the State.