Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-07-10
EFFECT OF ORGANIZATION.

During the summer OF. 1900 active and
Elective efforts were made in the
interests Of organizing southern
cotton producers. Local branches
Of the Georgia Cotton Growers Pro-
tective association were perfected in
about sixty counties In the state with
an enthusiastic membership OF several
thousand progressive. prominent farmers
who were sincere in making an earnest
effort 20 make the organization a success.
The movement. which had the endorse
ment and cooperation OF bankers. merch-
ants and warehousemen. as well as farm
ers. rapidly spread that year over all the
states east OF the Mississippi river.
Wnen the movement in the interest of
organization for the purpose OF advancing
the price OF cotton 70 10 cents per pound
was started I'm June OF 1900 cotton was
then selling for cents per pound. and the
buyers and spinners OF the staple public
" stated that the crop 10 be harvested
that fall should not sell for more than !
cents per pound for middling grades. not
outstanding the then strenuous efforts
being made by the producers TO advance
the price 10 a higher and more fair and le-
climate basis. As president OF the organ
izatiOn I received monthly reports from
the entire cotton belt. and sent out thou
sands OF circular reports each month. Civ
ing the statistical condition OF the crop
covering the entire cotton belt. and ad-
vised strongly the holding Of the crop at
the opening OF the marketing season until
the price OF 10 cents per pound was offered
and paid BY the buyers. The entire pro-
gram worked out successfully and never
before was the good effect OF organization
among the producers more fully exempli-
fed. The staple could not be purchased
at the prices offered at the opening OF the
season.
Cotton was ginned and either stored on
~ Nww Fw - hanks
freely advancing Is per cent OF the value
OF each bale stored al all interior points
The spinners were running short OF sup
plies and contracts made by exporters and
Spectators lOr September delivery had to
Be filed The price OF cotton advanced.
notwithstanding the strenuous protests OF
the buyers. under the logged determine
ton OF the producers not TO sell until ear
IL IN September 10 cents was freely bid on
al cotton offered for sale and the tight
was whipped II Is well established his
tory that exporters could not buy cotton
east OF the Mississippi. where the organ
izatiOn and cooperation OF the producers
was made effective that season for less
than the popular price asked and they sent
their buyers 70 New Orleans. Galveston
and Houston 70 get their supplies with
the hope that in retiring from the markets
and get what they wanted in the south
west
Enormous Texas Crop.
Unfortunately for the complete success
or the movement throughout the entire
season. an enormous crop was that year
harvested IN Texas. and the farmers there
being un0rganfzed and unfamiliar with the
true state Of affairs and the value OF their
staple. began 20 rapidly market their cot
ton IN the face OF falling prices.
Texas gave the buyers the necessary
Leverage 20 break the market and with
the enormous crop the producers OF that
state were harvesting 10 rendered the
farmers east OF the Mississippi powerless
20 hold up prices. as enough cotton was Sc
cured at Texas ports and New Orleans to
keep all the spIndles in the world moving
for three months independent OF cotton
from any other section
The overwhelming success OF the move
u1ent in the early season. when cotton was
forced up 20 a price beyond the most san
guine Imagination OF the producers. Gre
ated an enthusiasm and faith in the price
az the stable that caused many 20 hold
their cotton for higher prices even when
II cents per pound was offered for the
staple.
Merchants especially saw what they con-
ceived 20 be q big chance for speculation.
uay-ing 70 and II cents for cotton and hop
Ing the price would advance 10 u and 10
cents The price went OF as a result OF
the Texas rush during the month Of No
veuber and ali who continued TO hold for
the higher prices above 10 cents were fore
- later 70 part with their holdings at sac
rifce-
Local merchants were harder hit than
anybody else. as - per cent OF the pro-
sucers sold their cotton PROMPTLY under