The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-22
THE VIEWS OF CAPT. THOMAS.
List Year the Farmers Made Ten Thousand
Dollars by Taking his Advice.

On the 2Sth of September, 1S99 Capt. J.
]. Thomas. president of the Peoples Stor
age and Mercantile Company, of Raleigh,
issued q circular to farmers. Offering to
store cotton for them and advance money
on it, In that letter Capt. Thomas said
Now as to prospect OF future price, etc.
1t is a we'll known fact that the worlds
| annual demand and consumption here
! tofore Of American cotton, including home
consumption, has been about 815 to 8 mil
lion bales; that being granted, it is more
than reasonable to suppose, that under
the greatly increased use of the staple,
both in foreign countries and the United
States, that anything less than million
bales would force the price UP to ~ or
cents and should shorter crop than
nine million be made, which to all appear
ances is more than likely, somewhere
from to 10 cents may be had before an
other crop comes around.
THE prediction of Neill that the pres
ent crop would be u million bales. is
simply preposterous, conceived and given
clearly IN the interest of the English
cotton dealer end American dealer as
we'll. The last two years were exception
ally large crops, and statistics does not
show that three large crops come to-
gether Neill and his abettors only want
time enough to get in their work and pro
fits before the actual crop is ascertained.
In 1892 93-95-96 and 1897. Neills predic
tons were from ono to two million bales
out of the way. The falling off in Texas
alone is conceded to about one million
bales ard the most conservative estimates
say not less than seven hundred thou
sand bales. and that the entire crop in
the United States will not be over S1z
TO million bales.
Whenever the farmers or owners Of
cotton con arrange to hold their cotton,
we think from present outlook it will be
the part Of wisdom to do So To rush
your cotton to market ahead of any legiti-
mate demand from spinners, even under
short crop, you can only hope to obtain
low price. The mills of our State will
want and consume more cotton that is
made in the State. after deducting the
sales of October, November and December,
the great bulk Of which is shipped to some
foreign country, there is a general revival
or impetus not only in the cotton milling
business Of this State, but throughout the
entire country. All goods manufactured
from cotton is not only bringing good
price, but an advancing tendency and
growing demand; every indication points
to a still higher price. This condition OF
affairs, will Of course, stimulate the mills
to a greater production of the raw mate
rial. We have every indication Of an ear
ly fall, light frost having already appear
ed in our State and further South;
heavy frost, as you know, ends any fur
Their opening of the bolls. The consensus
Of opinion derived from the public prints
Of the day and those who are an authority.
say there VIII be no top crop at all and
not more than 1-3 to u of the middle
crop. If such predictions are approx
mately true. there will not be enough
OF American cotton to meet the demands
of the world So far as our information
goes. the mills of our State. compare
lively speaking, are without any supplies
on hand Raleigh being conveniently To-
Gated and so accessible to large num-
Der of mills in this State as well as those
in our city. renders it most desirable
market to have your cotton in If cot
ton should be scarce this coming spring,
we feel sure in our prediction, that as
good, if not better net prices can be bad
here than in any other market in the
country. This market supplies more mills
than any other in the State. In recent
address to the farmers of North Carolina
by such intelligent and business-like men
as Graham, Parker, and others, we make
this sensible extract:
Among other things, it might be ar
ranged for a system of storage ware
houses or some means by which the crops
would not be thrown on the market in
slump. but the sales be regulated, so as
to place the different non perishable crops,
especially cotton. on the market system
atically throughout the year..
eSome claim that the farmer would Gre
ate trust, if they unite and combine to
further their interests. by holding their
cotton, Not 70, Would any one say