The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1900-10-03
Will Not Run at a Loss.
COTTON SEED OIL MEN
COMPLAIN.

Manufacturers OF cotton seed Oil are ''ro
against proposiuon taat has already clos
ga four or more Of the largest rills in the
State aud will likely csuse Iore mills TO
sloee down. At the oeglaaine of tee season
the market price OF seed was Sl2 per ;oo-
The ouo,atioa later 10 the season waa set =.
SIT by the Atlantic Cotton Oil Company,
which operates four Of the largest mills 10
,ne State. The price has bounded rast tGe
quotation and is now $50 per too Manu-
facturers claim that when the seed is bought
for $50, anywhere from So TO So is lest pee
ton. There is no expected advance in the
price OF crude or rehned oil and all mills
which are nov buying at $40 ere engaging
ir the widest speculation. In this coonec-
.ion geatleraan who understands the bus-
ness thoroughly said yesterday
81 bad great deal rather buy oil 90 tne
New York Exchange and hold it With bopes
Of an advance Re6ued oil,'' he said, "csn
now be bought IN New York So cheaper than
!. can be manufactured oy mills paying $40
Ger ton for seed.
ttTha situation is q serious one. The pol
lev that some of the mills are pursuing BY
paying $50 for seed is very destructive one
The causes oe the advance are two-fold. First,
The late aeasoe and the opening OF ten or
more mills N the State The new mills are
acxious to get down to business, and most Of
.hem are ouyicg at $50 or thereabout. The
demand and price of the PRODUCTS of the
seed, viz, bulls, meal, oil, Hnters. are not OF
snch q nature TO warrant the safe buying OF
seed at S2e The ui!ls are simply cutting
each others throsts. I. seems Impossible to
reach an agreement whereby uniform price
can be established and maintained
The trouble, however, this season seems to
ae with the mills Every mill is at logger
hesds with the others. The coodlticn ls
somewhat similar to the cotton mills when
new cotton is coming 10.
Mr. A. G. Phelps, secretary and treasurer
OF the Atlantic Cottoa OIL Company, wss IN
:he city yesterday looking over The cotton
seed situation and inspecting the pew work
ssipg done at the plant Of the old GGtra!
Refining Company
.sTbe Atlantic Company owns sEc controls
:ocr os the finest cotton seed mills in the
State and not one of them is running, ewing
20 the high price of seed !" M. Phelps said !:
ssTwo of our mills rao for .inre at tie b'si
os the seasoo, but We have closed ell Of them
down Low aud do nc, know when We will
BE able TO start again. issued instructions
yesterday to over 800 OF cur buyers TO hold
OF until the price came down 10 SIT.
have figured It 10 every way possible to ory
ssea at $50 aud make morey. Wbeo tie
season frs, opened set the limit at SIT,
little thinking at the time that it would eTer
get there, but, to ny surrrise, 1t has gone
Beyond. The only thing for US to do is to
shut dow We capnot ruu and lose money.
The mills that buy at $50 are sure TO lose.
The only way that can see that they intend
making money is for oil TO rise, and oil isn !
going to do that It's speculation, and If
wauted to speculate I'd go to New York and
90 1t legi.ima:ely No, am sorry do no,
suow what the remedy is. | cannot say
either how many mills have closed nor how
many are goiug to close. The new mills, Of
course, have small supply OF seed on hand.
The seed were bought at the opening of the
season When thsy give out | suppose they
will take sensible view of the situation and
shut down pronounce the condition very
serious ~
Mr. Phelps is every much ncouraged with
The progress of the work on the DAD Mutual
2e6aery. The refinery was oought some
mouths ago by the Atlantic Cotton Oil Com
pary and at once force OF men was set to
work on improvements The capacity hss
been increased 20 700 barrels per day, al.nost
double the former capacity, aud The storage
capacity has been increased to 20, 900 barrels.
The mill will be put into operation very
eoou.
Mr. Phelps vas accompanied to the caty by
NJ. C. S.AeCullough. president end treasurer
of Pee Dee Oil and Ice Company, Daring
:on. The Pee Dee mill is q pew one and has
aot yet been completed. Mr.. Mccullough
said that be bad been buying seed up TO toe
:ire that the price reached $50. He con.
side,s it suicidal to buy at that price. Mr.
Mccullough is an experienced mill mao anc
understands the situation thoroughly.
A. A. C NcFali, maoager of the OIL mill
n tnis city under the course of construction,
could not be seen yesterday, as be was Slight
y iodisposed. Ii is understood, however,
that he is not buJiog at $50.
Another matter which brought NJ. Phelps
% the city was that CT exporting the product
Of the rehoery. Ee bad very little 10 say IN
regard to The matter othe: than taa: he vas
=orced to ship every barrel o: Gil to New
York aad taec expert It. He be3 aoped to
&c. shipping room here fer aoont 25 ,000
barrels within the ne1; three o, fouv month,
oc,i was impossible to do so. Tie CON-
oacy which be represents IS large oae $50
ass agents in Eoglsud. Germany, France,
Scotland, Hoiiand and several other couc-
,sies. Last year the export business OF tee
Atlantic Company was about 25,oa0 bar
-sls aod this yeer The business vii! oe s.uos,
6oabled.-Ness and Cou,ier, Sept. %
Story of Slave.
To be bound hand and foo: for years by the
chains Of discase is the wors; form of slavery
George D. Williams. of Manchester, Mich ,
-elis COW snch a siaTe VAS made free. lie