Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-09-11
SOMETHING ABOUT
TEN CENT COTTON

NHE monthly crop bureau report
issued on September srd by the
United States department OF ag-
riculture makes the average con-
dition OF the cotton crop throughout the
south 70 be 64 per cent OF a perfect crop.
This estimate was made up 10 August
18th. and does not include the rapid de-
terforation OF the cotton plant since that
time This IS the lowest average in per
centage OF condition ever issued by the
department for September since the sys-
TEN or gathering statistics was inaugur-
ated- II a perfect crop had developed H.
o00.o00 bales under the most favorable con-
ditions the loss OF IS per cent up 10 the
present time would indicate a crop for the
present season Of not more than 100000.
Whether the most favorable climatic con-
ditions from now on viii produce any ma
terfal change for the better Is extremely
doubtful The general cOncensus OF Opin-
ion In the minds OF all farmers with whom
have recently discussed the matter, and
the result OF personal observation is that
the plant reached the limit Of it's matur-
ity some time ago. and certainly no second
growth can now be taken on and develop
into grown hollis before frost All sides
now admit that We have a short crop in
sight. the only difference OF opinion being
a. TO the amount OF the shortage
Heavy Receipts Depressing Price.
The strongest factor now controlling
prices and exercising a depressing infiu-
ence IS the heavy receipts which are now
charactertEing the rapid sale OF the crop
at all Interior points. Never before in the
history Of the business has cotton opened
so early all over the belt. and farmers are
picking and ginning with a rush and mar
ketinE the staple as fast as possible. Even
the strongest bear element openly ad-
nit that their position for time at least
Is safely assured. while they are enrrench-
ed behind heavy receipts. Heavy sales
OF the crop for the next sixty days viii as
assuredly hold the market down on an s.
0oo.o09 bale crop. just the same as IL We
were satisfied u.o0o.o00 were in sight.
When every local market in the south
is daily flooded with an avalanche OF spot
cotton. being rushed on the buyers by
the farmers in their hurried efforts to SELL
the manipulators OF the cotton market
can largely have things their own way.
For the past three years we have strenu-
eUsly advocated the marketing OF cotton
Erom the plantations slowly. and insist
Ing upon the farmers demanding 10 cents
per pound for their staple. These argu-
tnents have been based upon the statistical
position of each crop. the demand for
American cotton, the condition OF trade
and the fact has been demonstrated that
every crop since 1855 should have netted
the producers 10 cents per pound.
Snoulo brtn9 Ten Cents.
Owing 10 the present unprecedented low
average condition OF the cotton crop.
with absolutely no surplus OF old cotton
to 0e carried over from the crop OF 1901,
every pound OF cotton now being sold
by the farmers should easily command
10 cents. and would do so If the steady
stream OF marketing was checked and
tie cotton held back for time. While
&c Is true that there is a limit 10 the price
which Ia grrrrnucFfrffr~ MI n
ufaetured. yet that limit Is neither below
10 nor II cents under existing conditions
OF trade and finance. The west has this
year made an abundant grain crop and
money viii be plentiful in that section.
which was not the case last year.
The war an South Africa has been set
tied and our past troubles with China
removed Trade In all departments of
the civilized world IS on a boom and
prices on every imaginable commodity
has gone out OF sight. except cotton. Now,
with an assured short crop. with
scarcity OF cotton 10 meet the worlds de-
mands for the next twelve months we
still find the cotton producers recklessly
hurrying their cotton TO market and
dumping IL into the willing hands OF the
buyers al about cents per pound. Can
farmers be satisfied with this condition
ofauairs when thousands Of them realize
80 fully that present prices will not ena-
bic them TO meet their obligations =?
Should Have Big Meeting.
There should be a general rally OF the
producers all over the south and by con-
cert OF action determine 10 force the
prices OF spot cotton up 70 it's level OF
legitimate prices. Counties where organ
izations Of lie Cotton Growers Protective
association are stlI operative are having
meetings and passing stringent resolu-
tons demanding 10 cents per pound for
their cotton. The farmers in every coun-
" throughout the belt should call meet