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

man was a belligerent character by simply
defending himself when attacked?"
In the light of what followed, the farm
| ers and others can see that if all had
followed the advice of Capt. Thomas they
would have, put money in their purses.
| Capt Thomas has issued another circular
letter, dated September 10th. from which
we take the following extracts:
This month last year we issued cir
cular letter setting forth our views as to
the future OF the cotton crop of 1889 and
1900. As to how correct we were. those
who awaited themselves of our advice will
testify Those who stored with US last
year reaped profits in the aggregate
something near $4,000 over and above
what could have been realized when the
cotton was put in store.
The business of the Peoples Storage
and Mercantile Company will be under
The control and supervision Of ]. J. Thorn
as, S. w. Brewer and other competent as
5istants. The authorized capital Of the
company is $125CG0, whose receipts for
cotton are negotiable at any bank. You
can get samples of cotton stored with us
on any business day OF the year, sell it
for yourself or we VIII have it sold for
you obtaining very best price to be had.
Upon proper margin being reserved, we
viii make advances in cash for cotton in
hand or bills of lading for same, interest
at rate Of per cent per annum, In view
Of the action Of the Manchester spinners
and cotton dealers to discontinue buying
American cotton for limited time, farm
srs should offer only a limited quantity
Of their piclings during the months of
September, October and November-just
enough to feed a legitimate demand from
spinners and not enough to create glut
in the market Such course Will pre-
vent any depression in the price. 1t is
conceded that the past season was the
worst ever experienced the extreme and
continued hot weather causing the young
bolls to open prematurely, hence cannot
expect but little or no yield from what
is known as the top crop. The present
crop is unuuestionably a short one. The
report September 10th, of the United
States Department Of Agriculture is re-
garded as the worst on record. being 90
2-10, the decline in North Carolina since
August LIST, u points. being now only ga,
less than n two-th:rd crop. No one who
is at all familiar with the conditions of
the crop will predict a crop of over to
81 million bales If that be true under
normal state of trade prices must mate
rally advance Those who have made
the crop a study, and usually quite corr
rect, predict that by January next cotton
will bring II to 1914 cents. While the
crop for year ending September LIST, 1900,
was about two millions bales sfsr of
crop for year previous, it is pretty well
ascertainod that it brought approximate
ly eight-one million dollars more in
money This goes to prove the folly OF
putting SO much OF your lands in cotton.
There IS no old cotton held in Raleigh
warehouses. SO those who wish to store
their cotton land getting advances on
same if desired will be prepared to meet
Tho demand that must surely como from
out state spinners. This market supplies
more Of the 1853 N. G. Mills than any other
in the State. The Cotton States Asso-
citation" composed of the Commissioners
OF Agriculture of the different States and
other distinguished members, held their
annual meeting in Raleigh, August 28th
last Mr. 0. p. Stevens, President Of the
G. S. A. says that the short crop prom
Uses better profits in cotton during this
season than heretofore. Our company
was selected last year by committee
representing the farmers of this county
Tor the storage Of their cotton and adj
vanccs upon same when desired. Owing
to the satisfactory manner in which the
business was done with the Wake county
farmers. we hope to serve them again,
as well as the farmers and holders of
cotton in the adjoining counties"