The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1899-09-06
EIGHT CENTS FOR COTTON.
That is the Estimate of a Reliable New
York Firm.

York Firm.
We hope every man who has cottor
to sell will read and remember the fol
lowing letter from reliable New York
cotton firm to the Columbia Record
and which was published in that paper
last Monday:
'For the past two years nearly every
section Of the United States has been
enjoying the most remarkable pro5peri.
ty. The producer of cotton and the sec,
tion of which he is a citizen have been
almost the only exceptions to this state,
ment. The price Of cotton for two years
has not exceeded the cost Of production,
if, indeed, it has realized that, while
iron, copper, wheat, wool, dry goods
and nearly every other staple commodi-
ty have advanced, Notwithstanding an
increased supply and a probably lower
ed figure in the cost Of production.
''The reason for this is not far to
seek. The cotton crop is the one crop
of American production Of which prob
obly IS per cent. is consumed abroad.
The great bulk Of it is marketed with
in three months, and must be sold for
cash. To a certain extent, therefore,
the sellers are at the financial mercy of
the buyers, and this advantage is one
that is naturally used to the utmost. If,
when the crop commences to move the
impression can be created that the sup
ply is likely to exceed the demand cot
ton must decline. Recently the closest
observers of the crop development came
to the conclusion that the promises Of
this years production were not brilliant.
Cotton commenced to advance sharply
in price and it looked as if, for the first
time in three years, the Southern farm
er was going to realize fair value for
his product.
''This was the situation on the 18th
Of August, when Mr.. Henry NJ. Neill,
Of New Orleans, an Englishman by
birth, and the representative in New
Orleans of London firm whose busi-
ness it is to buy cotton for foreign spin
ners, issued a circular in which was
widely promulgated both by cable and
telegraph and was calculated to create
the impression that the crop which is
about to be marketed promised to be as
large if not larger than any previous
crop. The effect Of this has been to
lead foreign buyers to belive that they
could, by holding off, secure the cotton
they have to buy at practically their
own price.
1--WE have not believed that MIR.
Neill's predictions were justified, and
with view Of arriving at a sounder
conclusion we have, during the past
few days been telegraphing to every
section of the South, asking our various
friends there to report to us by tele-
graph the condition of the crop in their
locality. The result Of these inquiries
We enclose to you. Unless the people
who have sent US these kilograms are
guilty of the gcossest misrepresentation
the cotton crop cannot be a large one,
and there is no reason why the South
ern producer should be stampeded
through misrepresentation into selling
at a loss.
'We therefore ask you if, in your
opinion, it is legitimately your func-
ton as journalist to use the columns
of your paper to correctly inform your
constituency as to the real outlook and
keep them from misleading themselves
to their own financial loss? The price
Of manufactured cotton goods has con-
tinually advanced during the past year.
Spinners can pay, so we are Informed,
eight cents per pound for cotton, and
yet make profit in the sale Of their
product, and we are convinced that if
Southern cotton holders can be broug ht
face to face with realization of the
strength Of their position they can
command at least share Of the coun-
try's prosperity in which they have not
previously been participants.
I'VE would especially request in
writing you this letter that you do
not use our name. The information
that we give you, coming from the
various parties who have sent US the
telegrams, you are at liberty to use, to-
gether with their names, but there are
those who may misconceive our pur-
pose in thus addressing you and think
chat in so doing we may be seeking
some self advertisement. Such is not
the case. To considerable extent our
business and interests are with the
South, and in broad way anything
that favorably affects that section is
to our advantage, but we seek no
publicity in connection with this let
ter.
The Record says the firm issuing that
letter is one of the most reliable in this
country, though in Difference to its
wishes its name is withheld. What it
says is so. Other reliable estimates
confirm it and discount Neilps attempt
to bear the cotton market. The crop
is short and if cotton is not rushed to
market prices must and will rise. The
firm in question has received replies
from 81 responsible firms and indiyidu-
ais throughout the cotton states, which
indicate that the crop production has
suffered a reduction Of about 20 per
cent. Their correspondents report
reduction or damage of anywhere from
10 to 80 per cent.
Drowned While Bathing.
One man and four chil!ren, three
girls and one boy, were drowned at
Rlack Rock Eridav while sea bathing.