The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-08-15
TRYING ToFLEECE THE FARMERS
(From the Atlanta Journal.)


Already the first bales of the Souths cotton crop arc
beginning to come in already the spectators are be-
ginning to nsrepresent conditions and give out nionao
and opinions with view to depressing the market
Attention was pointedly called TO this fact by non
Hare Jordan president of the Cotton Growers Protece
association in an article in yesterdays Journal ana II
these facts upon which the Journal wishes to lay
stress If possible Mr. Jordan quoted letter from riend
connected with the New York exchange relative to
circular just issued b. Theodore H. frice VINO
poses as something Of authority cotton statistics Dut
whose evident purpose depress the maket-ahd ME-
correspondent declares that he does TINS because nc
s supposed to be short contracts
1t least clear that these spectators do seek TO ma
npuate the market their ends-ther attitude dc.
pending entirely upon the way in which they have placed
their bets Others in direct league with the spnners
puposebecause Of existing or future con-
tractsis hold down the price of cotton linus are TWO
powerful influences arrayed against the producer
But then the producer would not be at disadvan-
tage did he voluntarily contribute TO his own undong
Th he does in rushing his cotton to market thereby pay
ing into the hands Of his enemies nicely as they could de-
sire There admit certain reasons for TINS FIRST
there that quality OF human nature which prompts man
get the for his goods and get as quickly as poss
BILE Then there is the unfortunate financial condition OF
merry of farmers. In great number of cases their hst
cotton is pledged to the local banks merchants for ad
supplies and he under contract to deliver by
certain date The banks and merchants the other hand
have obligations of their to meet and their natural poll
to convert this cotton into cash as quickly as possible
These things inevitably to sut the market and create the
impression of large if overproducton with the con-
sequeut break in price later on
1t the law of trade that the anxious seller gets less for
his product the anxious buyer It is we admit
manifcSty difficult for the above enumerated TO
find perfect remedy for the existing trouble But surely
progress be made in that direction The local
banks mot this year OF course hut possibly in the uture
might be able arrange their loans for longer period
thereby enabling the merchants to run their accounts with
the farmers for longer time leaving the latter freer, TO
degree at least market their crops from the dictates of
judgment rather than necessity In other words the Souths
settling period is fixed for time when the first of its
chief crop available The consequence Of this is
apparent
But let's look at the truth Of the situation and
it with the misleading and views by Mr.
Price and other bcarsh spectators The present stas
cal position undoubtedly strong and much in favor of the
producer The mills in both America and Europe run
ming light stocks SO short they in instances
that there fear Of stoppage OF machinery Indeed
high authorities have made Che prediction that within thirty
days, sixty days at the outside these mills will have
come begging for cotonPoyded of course the farmers
don't rush in and beg the mills to take it.
In this connection just issued by Secretary
Hester OF the New Orleans cotton exchange and published
in the journals market yesterday interesting and
conclusive His statement gives the worlds visible supply
cotton Tor this year and last at this date Here it is in
h1ef:
The total visible is t63ao against ao37osr last year
and a,27S427 year before last
Could anything be convincing Of the predicameut
the spnners in, 70 say nothing of the fact that the
demand for cotton goods is far heavier than this time
last by OF the reopening Of trade in the Orent2
AS told by Mr. Hester the total worlds visible supply of
Soon shows decrease compared with last year OF
But the statement regards port stocks which fully
confirms and strengthens tne above statistical view:
Stock at United States ports. .....4z7Ioo
same time last year..-...........acoS29
Decrease ......... s.....,....I2L77o
stock az interior tuwns........... s4126
same time last year. I48569
decrease ........-.. --.-....-. 9444S
Stock at Liverpool. $4,000
Same time last year Recommendations
increase ..,......... ,........ $4,000
American adoat for Great Britain. 10000
same time last year .-....,....... $1,000
Decrease ...,....., ........... $4,000
W. are within three weeks OF the end of the fiscal
crop and everything shows the statistical position
chic
last year or the before But offset these facts the
pUnes and bearSh spectators adopt their usual method OF
predicting bumper crop Wait they say, and we will
get It at price
The farmers would certainly be in more advantageous
position If they could make the spnners hungry for their cot
ton instead OF themselves displaying such hunger for the
Sphlers money. The Journal would not ATTEMPT TO advise
the farmers to whether they should hold their cot
ton sell possible Tor the highest Dr;ce tbe car
get It clear that this matter to be determined Nv the
Individual eHigence and other conditions existing al the
lme a lew weeks or few days sometimes changes
me situation enurey that the farmer must be his own
Judge after all The only point we make is that the n-o
queer should be on mis- guard and and watch the mn
uon OF the spnners closely the spinners watch him
And without presumng to offer advice as TO the present mr.
any future market-for to do would be foywe smplv
assert 'at II our farmers could and would exercise greater
care III marketing their cotton the better control Of the mar,
Eet would they have This has been abuudantlv deo,s,
ca IN the case OF our peach growers who through oone
alton and the adoption OF strictly business methods IN e
ne product have at last succeeded in preventing pts ~
~. Su Ior'eu me buyers to come to them, instead of
having 10 go to the buyers The cotton CROP by reason 81 10
SIS Is Manliesty more difficult handle along ths ,;,e
put H. at least has the advantage of being
IN oheI words the producer sell or hold az bis iJ
lent uc'aes-Frovded he is financially in position 70
The Church of the Future
Kew, Herbert s. Beelow in The piio-;.,