The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-09-30
IN HOTEL LOBBIES
AND ELSEWHERE


rise in the price of cotton. The story on
the streets had to do with sensational
advance in the cotton market varying, ac-
cording to various fancies, from 45 to 24s
points Singularly enough this nonsense
found scores of ready believers, although
the New York cotton exchange was closed
and prices in Liverpool opened point
down. The rise in prices comes in the
nick of time to benefit the farmers those
who most need benefits of that character
An illustration of the practical aid to far
mers Is the statement of a Montgomery
cotton buyer that the rise already repre-
sents a gain of about $6OD,O0O on that part
of the crop that will be marketed in Mont
gomery. To Birmingham the iron and coal
center, it represents roughly $780, 600, the
receipts here being about two-thirds of the
number of bales received at the state capt.
tai. The quality of cotton this season is
good; last season it was generally bad 1t
is said that many thousands of bales sold
at Montgomery last winter as low fiji
teen dollars a bale, because unfavorabe
weather had simply destroyed the good
quality of the crop. Even the best grades
brought but twenty dollars a bale.
Now a bale, including the seed, taken by
the gin, sells for thirty-two to thirty-five
dollars or more. Practically all of this
years crop is of excellent quality. still
further rise is confidently looked for, as
high as eight cents being quite generally
expected.
II believe the percentage of profit on this
years crop will be greater than any en-
joyed by cotton growers during any other
year since the between the states,
said a Montgcmerian who buys largely of
cotton for direct manufacturing eonsump-
ton. This years crop has been raised
at the very lowest possible cost-as nearly
no cost at all could be under any mag
Unable conditions. The result Is that the
percentage of profit is great-greater than
when cotton selling at or about forty
cents pound; for when prices were soar
ing so high the cost of production was very
heavy, as the prices of all the necessities
OF life were high. Corn was two dollars
bushel, and the osnaburgs with which farm
laborers clothed themselves cost about
fifty cents a yard. Bacon sold for about
twenty cents a pound. There Is now one
very serious danger arising from the rise
in cotton; and that is that southern peo-
pie will be again brought into the hell OF
the exchange Dabbling In futures, which
has brought ruin to the south in the past,
has begun again, and there is cause Tor
grave fear that it will become general. FROM
time to time during the past thirty years
southerners have become afflicted with the
mania to gamble on cotton futures, ana
thousands of useful lives and prosperous
homes have been destroyed; trusts nave
been betrayed. the public robbed In toe
end the gamblers get squeezed. 1t Is IN
evftable. New York and Liverpool put up
the price of cotton in the fields, and then
take away the profits through the enormous
gambling hells called exchanges.
For the first time since 1872 all the peo'
pie of the state can base hopes OF better
things upon sure foundation. Here in the
mineral region prosperity has made ali
classes of the population -radiantly conh-
dent Iron has gone up from SIX dohaTs
to nearly twenty a ton; coal and coke nave
made notable advances; all the products oil
skill snow phenomenal INCREASES ana
wages haye risen in corresponding degrees.
Bricklayrs for example, now receive forty
five cents an hour instead of thirty as
formerly Birmingham, the center of all
this activity, was never before so pros
Porous and never before had so much
money; and, as a matter of course, Biz
mingham's prosperity is shared by the
whole mineral region, and, in fact all
northern Alabama. The lumber interests,
which are of very great importance to
Alabama, are prospecting as they nave not
hitherto prospered for fifteen years. But
first and foremost of all, and above all in
general consideration is the fact light is at
last breaking for the farming element of
the population upon which is finally based
all prosperity The farmer seems to have
learned at last his lesson, and he has
learned it in the school of bitter experience.
He has produced his crops This year at as
nearly no cost was possible, thus prac-
t!cing that practical economy of which he
stood so much in need Now he not only
finds his "store" account very small; but
he is getting ten dollars bale more
fer cotton. If he has cattle for sale they
bring him higher prices than for many
years; and so with some others of the
products of his labor. If cotton should
soon rise to eight cents it will be almost
like the dawn of the millennium for ths
farmer with his economy and his i'm
proved methods of farming.
The impression has long existed that Mo-
bile citizens hold about one-third of the
Alabama state debt. A Mobilian said las.
night that he had been told that Mobiles
holdings of Alabama bonds amounted 10
about 100000 or more than half the total
debt of the state. OF course, these are
mere guesses, and the truth is not known
outside the state treasury; but gossip of
that nature is proof of the public faith
in the abundant wealth of Atabama's pros
porous seaport, of which all Alabamians are
rightfully proud. Mobile has been always
quiet and conservative; but she has found
it decidedly to her advantage to be so. Her
men of wealth have not thrown their
money at the birds: and now she has en-
tered upon time of progress that makes
for a degree of prosperity that she has not
hitherto dreamed of. Mobile is "our own