The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-10-02
CONFERENCE OF MILL MEN
They May Decide to Close Down For
Several Weeks.
THIS WOULD DEPREss PRICE OF COTTON
But The Depression Would be Only Temporary
The Mill Situation Discussed by Manu-
fac!urer, He Says the Supply Of
Cotton is Short.

The Raleigh cotton market went back
up to 10 cents again yesterday, on the
strength of advances in Liverpool and
New York quotations.
Farmers are, as a rule, willing to sell
at 10 cents, but they are dissatisfied with
anything below that. They believe their
cotton is worth it, and that it must
bring 10 cents or more before a new
crop can be raised.
For this reason the receipts on the
Raleigh market during the past week
have shown decided falling off, instead
of the increase that would naturally
have come with the progress OF
the picking and ginning season. The
wisdom of the farmer in holding his cot
ton will be realized later in the season
when he will get IL and IL cents for all
the cotton he can put on the market.
During the week ending September %
there were received on this market from
wagons 1,7O7 bales. Cotton sold during
that week for more than 10 cents. Then
it declined steadily until it was below 10
cents, and as a result, during the last
week lending September 29) the receipts
were only 1,151-or nearly hundred bales
The picking and ginning of the crop
shows better yield per acre, in some
sections, than was expected a month ago.
In other places the acreage has been very
materially increased ard though the crop
is an inferior one the number of bales
will exceed that of last year. These,
however, are the EXCEPTIONS; as a rule
the picking and ginning confirm the unfa-
10 TO- Of
THE PRICE MUST GO HIGHER.
1.-The crop is undoubtedly short" said
the secretary and manager Of one Of
the largest mills in the State, yesterday.
There is not enough cotton to run the
mills through the next season and the
price is bound to go much higher than
it is now. To argue otherwise would be
worse than foolishness.
THE only thing that keeps cotton down
now is the mill situation. That is in bad
shape. The price of manufactured goods
is low and the demand for dry goods is
limited. Hence you see the difficulty in
advancing the price of clifton goods to
correspond with the advance in the raw
material
But the officers of the Southern Cotton
Spinners' Association have made arrange
ments for meeting in Philadelphia this
week, at which prices for yarns will be
advanced, and hope maintained"
"How do you think this can be done? -
"Only by closing down the mills. This
will curtail the supply until the glut
in the dry goods market is relieved and
the demand is stiffened. With that stu
alton reasonable advance in price can
be maintained All of the Southern yarn
mills have been anticipating the arrange
ment of the new schedule of prices and
consequently most of them have declined
to accept orders for future delivery"
what effect would this closing of the
mills have on the cotton market
1T would, of course, have a depressing
effect at first in fact almost as long as
the mills remained closed down; but when
they started up again the demand for
cotton would be so strong as to advance
it in price.
There can no longer be any doubt Ci
the fact that the present crop of cotton
is not sufficient to meet the demand and
those that get what cotton there is will
have it to pay for"
MEETING OF THE SPINNERS.
The meeting of the spinners in Phila
delphia will begin today and continue till
Thursday. twill be held at the Lafayette
Hotel, the same place at which last
years meeting was held.
Tho annual fncatinpS Of the aSSOCia .