The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-22

| advanced instead of dropping in few
| days from II to 10 cents.
1t is not too late yet for the farmer
to learn this lesson. for the mills con-
tinue to close down. and if cotton re-
ceipts show no falling off the price for
it VIII be hammered still lower.
In the Charlotte and Gastonia sections
fer instance, reduction of 40 per cent,
caused by ourtailment OF night work, and
a Is per cent cut Of day work have gone
into effect in most of the cotton mills.
Mills with last seasons cotton continue,
but curtail when they run out The ac-
tion has been general, and any goods
manufactured will be held until they rise
in price on a parity with cotton.
In South Carolina the following cotton
mills making coarse goods are running
short time: Piedmont Nos. /. 2 and 8;
Pelzer Nos /. and 81 Clifton Nos. l.
and 3; Anderson Manufacturing Co., Nos.
and 2; No. the Bolton mills, the Able
vile mills the Newberry mills, the Reedy
River, the Whitney, the Pacolet mills
(2). the Glendale mills CD and the Orr
mills, of Anderson. These mills make
standard drills and 3-yard, 3h and 4yard
sheeting. These are all the coarse goods
mills affected by Chinese troubles. The
fine goods mills have orders enough ahead
at prices that enable them to run full
time. Manufacturers state that running
these mills now caused loss of 80 cents
per loom per day. Fine goods mills are
buying cotton heavily.
The big New England mills started the
closing down movement and great num-
Der of them are now idle.
Most mills have withdrawn their goods
from the market. except mills making
finer yarns. Mills making 30s and 40s
can run on lie. cotton and Just about
come out even. while mills on IS to 20s
will lose from 1c. to &c. per pound. and
mills on heavy drills and sheetings will
lose fully &c. per pound.
OF course nobody blames the manufac-
turer for this. 1t is a serious matter
with him. To face the situation squarely
there are but four things to happen: Cot
ton must decline or goods go up, mills
shut down or go into the hands of re-
ceivers. Matters cannot go on in this
shape.
But in rushing his cotton to market the
farmer does not help the situation for
anybody. He simply hurts himself.
A FARMERS OPINION.
An observant and intelligent farmer
in Wake county, yesterday speaking
of the cotton situation, said:
They began to market cotton this year
later than usual and the receipts we're
very light until about a week ago. Most
of the farmers will sell part of their cot
ton, if they can get ten cents for it, If
it falls too low, they will hold.
/ understand that the mills in Europe
are shutting down, not because they can
not dispose of the manufactured products.
but for lack of cotton. All the steam
ships are chartered and no cotton can
be procured by the mills in England or
France before the 10th of October Some
of the mills in this country are shutting
down also, not because they cannot dis
pose of their manufactured goods, but
in order to effect the market for spot
cotton. AS soon as the farmers under
stand this, they will stop putting so much
cotton upon the market, and will only
sell enough to get ready money to save
the rest of the crop.