The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-23
THE MILLS OF THE STATE
PAYING $3.50 PER BALE ABOVE
NORMAL MARKET.
EXPORT OF COT ION PRACTICALLY ENDED
Because il Cannot be Exported Except at an
Loss. The Call for Cotton Growers
to Meet Here During the
Fair Issued.

W hat effect have the cotton mills of
the State upon the price of cotton.
Inis is a question THAT has been re-
ceiving more or less attention III conncc-
tom with the prevailing low price of the
staple and some have expressed the opin-
ion that the mills have tended to Ierress
rather than raise the price
Mr.. Il. b. Barbee, of the firm Of Bar
bee and Company, cotton buyers Of this
city, says that the impression tina: cotton
mills do not raise the price of cotton is
erroneous. I'm any State" said le yes
terday, where there are cotton mills it
will be found that cotton prices are not
on a parity with Liverpool ana London,
but range uniformly higher, some times
going as much as $500 per ba'e above
Liverpool quotations after allowance is
made for freights and handling. We are
paying as much here now as cotton is
worth in Liverpool because of the com
petition between the home mills.
There are two things under extsLug
conditions that operate to fix the price
of cotton-the liverpool quotations and
the home demand. just now the effect
of the demand from mills within the
State is sufficient to raise the price of
cotton g of a cent per pound above what
the price would be if controlled solely by
Liverpool. This increased price goes to
the farmer. AS the cotton market now
is a Raleigh buyer would lose S1.50 per
bale ON every bale of cotton he export
ed. The result of this lis that practically
no cotton is being exported except from
the eastern part of the State, where
fIeights make it difficult to reach home
consumers and the proximity of seaports
make it easy to get the cotton to foreign
consumers.
THE cotton market here is now in
the condition know among buyers as out
OF line,' that is the price is so high com
pared With Liverpool as to discourage
orders from abroad. The mills of the
State consume practically all the cotton
the State produces. They do not carry
any large stock of cotton on hand and
live, so to speak, in a hand to mouth
fashion, depending ON the local markets
to supply the cotton as needed for con
sumption in the mills. Now when these
men come into the market for cotton they
are not controlled by Liverpool quota
tons entirely. Sometimes there is a
rush of orders for cotton and while, of
course, the mill men want the cotton as
cheaply as it can be had they must have
1T and the demand operates to raise the
price just as in the case of all other pro-
directs. This tendency has been so mark
ed this year that the percentage Of cor
ton exported will be less than ever be-
fore. The home demand by putting the
price $50 bale above Liverpool at
tie freights are added has virtually cut
off foreign sales"
From this statement of Mr.. Barbee's
it will appear that while Liverpool CON
trolls the general cotton market the mills
of the State have much to do with fix
ing the price of cotton Within the State.
The fluctuations in price under the infiu-
ence of home demand must always, of
necessity, be marrow but good demand
from mills in the State may result in
putting the price UP to the price Of cot
ton at the nearest centre outside of the
State plus the freights ON the cotton
from such centre to the mills that cor-
sumo it.
onder such circumstances it is clear
that the cotton growers of the State by
proper organization and cooperation 10
the end that the cotton crop may lac
marketed only as needed by the mills of
the State can get from 81, so to $500 per
bale more for their COTTON than if the
crop is all dumped on the market at once
in other words the North Carolina
farmer can put the cost of freights in
his pocket when he has a cotton mill
handy.
In this connection the following call
s.ued yesterday for a meeting of cotton
growers here during the approaching
State Fair will be of interest:
To the Cotton Growers of North Car |
DINA: The State Fair will be held in |
Raleigh from the 10th to Dist of Octo- |
bcr Ii promises to be one of the most |
Fairs ever held in the State. |
The season of the year presents IA |
vcrable time for the farmers Of the |
State to meet together and to discuss |
agricultural topics, and TO exchange |
their views as to the best means of |
cultiyating, and marketing |
their crops.
There will be thousands of farmers,
who will attend the State Fair. They |
want to see what each section of the |
State has on exhibition. The railroads
have given liberal rates, affordlng every |
one an opportunity to attend.
SO we have decided to call a meeting |
Of the cotton growers of North Caro-
liEa, to be held in the city Of Raleigh on |
the 18th of October, 1890.
S. l.. PATTERSON, |
Commissioner Of Agriculture.
JOHN S. CUNNINGHAM,
Chairman of Board of Agriculture.
z. S. The time and place will be am
in city papers later.