The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1902-10-28

,,+og throughout the belt this season.
.t,- the prices paid for the staple have
r..3 regulated by the daily receipts Oh
4 local markets. and that legitimate
4.maud for consumption has had moth
:.. whatever to do with the price
b.-. talked with many leading exporters
ana large cotton buyers On the subject.
and they all. without an exception, admit
.t-r heavy receipts have more than all
.rfugs else regulated the price of cotton
Ear The past two months. There are two
i,orortaut facts which none have the
+.,aaritv to deny, those are first, that
There is an unprecedented demand for
cation goods in all parts of the civilized
world and that the outlook for fine bust
moss hN the manufacturer for the next
-srIye months was never brighter, see
,,ur that the bearish element was
never more timid realizing that a crop
toa short to meet the worlds demand is
inevitable The bull element notwith-
Standing the rapid marketing of the crop
Inns been unprecedented, has been the
stronger Of the forces in the Speculative
market and have succeeded in keeping
the price of cotton up to cents per
round in spite of the farmers and tae
Tfvaruool markets. The producers have
had an eye this season single to one
orrr0se and that to pick and sin the
rrau as rapidly as possible and dump it
on the market, it made no difference
whether the buyers wanted the staple or
not Europe has largely kept out Of the
market and has steadfastly refused to
meet the prices paid by the interior buy
ers he sentiment across the waters be-
ing that il much fcotton is being
placed upon the market so early in the
season. there must be an overwhelmingly
biz crop to be harvested, and that they
would wait until later and come in when
prices were lower. There can be nC.
other inference drawn from the actions
OF The European spinners, and the prices
sent across by the exporters. | have
taken great pains and time to discuss
the problem which confronts the pro-
ducers in marketing their cotton SO
10 secure its value, and have talked with
prominent bankers. merchants and buy
ers on the subject, and they uniformly
agree that the only hope for the pro-
duoors is to introduce a system of mar
karag the crop slowly, selling through
longer period of time and thereby
gradually regulating the supply to meet
tue leeitimate demand of the spinner.
This is the only business view to take
Of the situation. it is the only method
which can be successfully pursued in
handling anv product either from the
farm. manufactory. other line of in
dGsrry, There is not now, nor has there
been for some time, any demand what
eyer by the spinnerS for raw cotton At
~. opening of the season the spinneTs
promptly laid in temporary supply and
then retired from the market, rendering
the market for spot cotton a speculative
o1r. and giving the buyers every op-
portuuity to keep down prices, the spin
hurs making purchases for future dellV-
cry, and getting their supplies much
cheaper in that way than in coming into
the market active purchasers for cot
ton to last them for the next twelve
months
WHAT IS THE REMEDY?
What are two remedies to meet the
existing necessities of the situation from
The PRODUCERS standpoint. There are
three classes of farmers, only two or
which may be material factors in BRING
Ing about 4 proper solution OF existing
troubles. One class of our cotton pro
auears puts all the burden Of making the
cotton crop on the scale or the staple
ald as they owe what they make pelore
il is gathered, the product Of their ne!ds
must go upon the market at once 10
meet the demands of the merchant VINO
furnished the supplies. The second class
e@ better and are not forced to sell all
e. heir cotton as it is ginned in order
'a meet outstanding obligations. rms
class may place a part of their COTTON III
warehouses; and draw sufficient money
on the receipts from their local pahhs
20 as to secure ready money, ana SUN
ID" able TO hold their cotton ana sell IL
slowly through each month. and at such
times as there may be a ready demand
a' good prices. The third class Is COM
posed OF farmers who are independent pS
'h- adoption OF proper methods OF lafh
'A- and sell or hold their cotton aI
a1-e just as they please. by co-opera-
At' action among these two lal'ei
classes the heavy rush on the market
'A the carly season may be avoided ana
good prices will be received by those
"Ac are forced to sell, as Well as TOT
such sales as will be put upon the mar
Ael by the two classes referred TO- Much
has been written about bonded ware
houses for storing cotton by farmers ana
borrowing money on the receipts. rms
is #cII enough for those who cannot
0Dldih money otherwise, but for the III
dependent farmer, my plan has always
1'A TO store the cotton on the ial ~
"NfFt 1t has been produced untll suSh
-laf as the owner wants to market IT,
have adopted this plan in holdihs
my own cotton this season ana nav
constructed fireproof warehouse 10 oo
used for that purpose. The cost OF suon
building is not so great as mlShl d.
"'Sj be considered. l Will give soliio
l&tres on the cost of building oi ny
"'A4 named and of such SIZE aS VII
meet the wants of the average ldIl
=" say building that will easily no'o
'' 'ales of square cotton. Speclhca' ~
u d frame building upon which the Sne'