The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1901-04-03
THE COTTON MARKET
The Holders of Spots Can Con.
troll Situation.
NO REASON FOR DECLINE
High Tlms f,r fl,a Scush 70 As.
sert its lrdepsrdencs OF
Spectators Who Depress

sers its lrdepsrdencs OF
Spectators Who Depress
P1ica Of Cotton.
That the p5eseat depression in cot
ton in due entirely TO manipulation is
the positive opinion of some of the best
informed men in the trade. The Au
gusta Chronicle says it is pointed out
that there is no more cotton in sight
than necessary for con sumption and it
is urged chat the south hold cn to TIE
staple until mere normal condition Of
the market has again come about.
SMALLEST STOCKS ON RECORD.
Mr.. Alfred B. Shspperson in his re
view Of the season Of 1899 1900 and the
prcsrect for 1900 1901 says that at the
close of the European season on Sep.
ten Der 80 the stocks of cotton Of all
growths in European markets we're the
smallest recorded in 6fty-eig ght years,
with the exception Of 1868, when in
consequence Of the civil war the Euro.
pesn stocks were reduced to $500
bales. The stocks last September were
not enough for two weeks consumption
Of European spinners. The oonsunp-
tion Of American cotton lest season By
American and foreign mills wss about
100000 bales. My frierd, Mr.
Thomas Ellison, Of Liverpool, calls it
10,990, 0O0 being 566. 900 bales more
than the estimate published by MIN at
the beginning of the season. In his circu.
lar cf Octt baI20 he estimated areduc; ion
this seaaon in American and Japanese
consumption Of 378 600 bales, and an
Increase in European consumption Of
10000 bales and with the expectation
Of larger supplies than last season from
countries other than America stated
that ao American crop of 10, 1872 600
bales would be reou red in order to keep
the stacks at the end of the season from
falling below the limited supply at the
conmer cement.
WILL BE NU SOHPLCe.
So We see that the leading experts
agree that crop Of more than ten mil
lion bales is necessary to meet the re-
quirements Ct the spioners and yet Mr..
Shepperson's estimate Of the crop made
in December is $500, 600 bales. Allow
ing for wide divergence there is not
any more cotton in the world than the
trade needs.
NO RELIEF EoR SPOT MARKET.
Again Mr.. Shepperson says:
1T is most likely that there will be
a considerable increase in the cotton
acreage in this country next spring,
While this fact would doubtless depress
to some degree the prics of future
deliveries" for tie next crop, it would
not relieve the market for spot cotton.
I fully agree with Mr.. Ellison that there
would not be any rlethosa Of co ton
even If the crop should exceed 10, $50,
600 bales, as the distribution would be
spread over such vide area that there
would be no great accumulation Of
stocks anyWhere."
Allowing for all the adverse condi-
tions in the option goods outlook and
the rumors Of trouble in Asia there is
no reasan Why the south should throw
her holdings Of cotton on the market.
The South must assert her indepen-
derce.
The SOUTH" said one gentleman,
''cannot afford to play into the hands Of
the manipulators who would rob this
section Of the honest fruits Of toll,
There never was more opportune time
fer this section asserting its indepen-
dence. It is in their power to sacrifice
the remnant OF the crop that is here"
And this is not merely view from
q southern standpoint. In the Atlanta
Journal Of Wednesday is letter ad-
dressed to Conm;s ;s4ioner D. 3. Stevens
from prominent New York cotton fac
tor who urges MIR. Stevens to continue
his efforts with the farmers not to in
crease their cotton acreage. His letter
follows:
New York, March 10, 1901.
Hon. D. B. S;evens, Commissioner Of
Agriculture, Atlanta, Ca:
Dear Sir-1 have observe 4 that what
ever has come from you in regard to
cotton has csrried considerable Seight,
and | Eaot TO say that unless some
thing is done that the southern farmer
will be confronted with FIVE Get cotton
again next fall. The idea prevailing
that it will take years for the staple to
go back to that price is all wrong. Cot
ton in January sold at 1915 and today
next January Sud at 40, decline of
about IL cents per pound in six
weeks. This condition has been
brought about by the mills absolutely
refusing to ray,hs price, and combin-
ed effJrt on the part Of the Mills, dry
goods people, cotton factors and specu.
lator. Should the acreage be as large
as last yesr, mills all over the world will
buy from hapd to mouth until the new
crop is made, should conditions be
fav,rable As every well posted person
knows We could have easily made 12 2
millions last year Wit favorable seasons.
Should the acrsge be increased to any
considerable extent and conditions rs-
main good for The gro 7iDg crop with
present lrade conditions six cents will
lcok Ligh for cotton next November. |
The only hope the farmer has is to
cut his crop, ard not plant all Gotten,
but corn and other things. Should
farmers cut their cotton crop one-fourth |
this ycsr, thsy would geta big rrice |
for cotton now held by them. Also, for |
the next crop, and in the event the |
next crop is increased they will sell
what they now have cheaper than they |
should and next at the most ruinous
price, considering the cost Of labor, |
provisions, etc., We have ever seen.
-