Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1900-10-18
FARMERS HOLDING COTTON.

The present decline in the cotton
market has brought out an interesting
feature 10 the trade IN Georgia, and one
that will be of interest to the cotton
trade and to planters throughout the
South. 1t is the ability of planters to
hold their cotton in the face of de-
cliping market. The test is regarded as
a thorough one by the trade here, due
to the fact that conditions were such
South. It is the ability of planters to
bear on planters in rushing their cot
ton upon the open market were they
not we'll entrench behind sufficient
funds to carry 1t.
The present condition of the money
market, caused largely by the decrease
in the reserve of the associated banks
of New York, produced a tightening
tendency which 1t Is believed would
have been indirectly felt by the holders
of cotton III the South who have had
advances made against their holdings.
But instead of producing an effect of
this kind the opposite seems to be the
case. It is said on good authority that
local banks hold considerable funds
which were obtained with a view to
supplying interior or country banks in
case additional accommodations were
wanted to supply planters. According
to the statement of leading banker
these funds have not been called for,
which seems to indicate that the farm
ers are in comfortable condition, and
do not find it necessary to call upon
the country banks.
With the posting of lower prices for
spot cotton business in this market,
which had been progressing actively
previous to the present decline, was
brought to an abrupt standstill. For
instance, the sales last Friday were
none, and on Saturday sixteen bales.
Export and spinners' agents were in
different about taking cotton, though
they were bidding fraction below
what they believed would be accepted.
On the other hand holders were stub
born, as evidenced by the frmness with
which factors held the cotton IN their
hands, and the few offerings which
found their way to f. o. b. brokers.
The latter do the lions share of the
| local business, and represent holders of
cotton in Georgia, Alabama, Florida,
Mississippi and few in the Carolinas.
The fact that their business has come
to practical standstilI as compared
with It's large proportions few days
ago indicates pretty strongly that the
actual ''stuff'' is not to be had until
spectators settle their differences and
the market returns to its former or 9
higher basis.
The question of the ability of holders
to stand the fire upon them by the
shutting down of mills at home and
abroad, the hammering of foreign anC
local markets, big crop statements and
other influences IN bringing about {
decline, is the most prominent before
the cotton trade at present. How i
will end no one can tell, but the man
ner in which holders have stood then
ground so far is an encouraging fea
ture to the advocates of higher prices
Consumers have stopped the fddline
and they will therefore stop selling cot
/ ton. 1t IS a question OF winch is Jn'
greatest looser, the manufactures will
their mills closed, or the cotton plante,
paying interest on the funds to carr!
his holdings. It must be admitted
however, that many planters are il
good financial condition, and hence en-
abled to protect themselves withou
calling for outside accommodations
The big sales so far have greatly re
lieved the pressure on borrowers, ant
will probably tide them over to the re
action; unless the present decline turns
out to be an unprecedented one.-Sav
annah News.
The New Jersey Legal Aid Society
which has for couple of years beer
furnishing free lawyers to prosecute
divorce suits for poor people, has quiz