The Montgomery advertiser., 1903-05-15
PRESIDENT HISS SPEAKS
He Recommends Curtallment
 of Production.
l.. B. Paulsen Takes an Entirely Different View of the Sitution The Evils of Manipulation
 Pointed Out.


 and seventy cotton spinners and vis- itors are attending the seventh annual convention of the Southern Cotton Spin ners Association which commenced here today. The spinners present represent wealth of one billion dollars and over 10.- 100000 spindles.
 President George B. Hiss in his annual address recommended the general curtail- ment of cotton manufacturing. MT. Hiss declared that at the present high price of cotton and the low price of the manu- factured product 1t is impossible for the manufacturers to make a reasonable prof. 1t. A great majority of the spinners agreed with Mir Hiss.
 Leonard B. Paulsen. a member of the firm of Buckingham. Paulsen and Com pany of New York city takes different view of the situation.
 MT. Paulsen's Remedy.
 "Give the patient time and 1t will con- vaiesce on its own account" was MT. Paulson's laconic reference to the mar ket. He added if they are losing. why is it that most of the mills are adding inn provements and building extensions"
 It is probable that tomorrow morning the name of the Association will be changed to the American Cotton Manu- lecturers Association. ....
 In his address President Hiss strongly endorsed the building of the Isthmian canal. MT. Hiss spoke in part as fol- lows!
 During the past two years manufac- turers using American-grown cotton have failed to secure proper margin of profit. and it has been during these last two years that cotton 'manipulators have held their greatest sway. 1t is estimated that between so,0oooO0 and 100000 bales or cotton are bought and sold annually in this country while we actually produce an average of about 100000 bales annually. sIs it not probable that these cotton market manipulators' have an unfavor- able bearing on the profits of the fnanu- facturers in this country using Ameri- can grown cotton?
 Out of All Proportion.
 Excepting a few special fabrics, the prices the 'manipulator' has fixed for cot ton today is out of all proportion to the price the manufacturer can realize Tor his product Is there not a remedy for this situation? If the cotton manufac- turer could arrange to buy his years sup nlv of raw stock by making his purchase during the period covered from Septem- ber 1 to December 1, of each year (as IS largely the case with our foreign com petitor) there would be but slight op- nortunity for the cotton market manlpu- lator' to juggle a profit out of the few hundred thousand bales not taken up by these purchases.
 Trade in China.
 I've are on record as endorsing the open door policy in China, as we realize If the ports of China are opened only to q few favored countries, 1t is question- ahle if we would receive our full snare of the valuable trade of that country ana in connection with the open door policy went the idea that there should not be any partition of China territory
 "Diplomatically there exists an agree ment among all countries interested that the open door policy shall prevail and that there shall not be any partition or China territory Lately. however, the daily press of our country has intimated that a portion of China, to which this country has been exporting large ouanti- ties of cotton goods annually, was about to be taken under the guidance and con- trol of Russia, but more recently We are fin receipt of diplomatic assurance that Russia's enemies have misrepresented her intentions.
 The Menace of Russia.
 Notwithstanding Russia's declarations, 4he English and American cotton man. ufacturers have their eyes open to the fact that Russia has been for some years mast building at great expense trans continental railroad which traverses the extraordinarily rich territory or Manchu- ria Che most northeastern province Of chinal to which section of China we are exporting increasing quantities of our coarser cotton fabrics, and unless our commercial interests in that territory are looked after most carefully by our ror- eirn ministers and consuls we may rest
 tAa DtrGa will not allow our goods to be imported into that territory if sine can secure this valuable trade for her own industries"
 Tribute to Southern Progress.
 cAn William F. Draper of Hopedale. Mass delivered an address on "The De veIonment of Rapidly Running or Yield ing Bearing Spindles.' giving the history of the invention and Improvements in spindles In conclusion. he paid the fol- lowing tribute to the progressive spirit of the Southern manufacturers:
 '.In closing permit me to say that the great value of these spindle improve ments has been largely secured and their universal adoption brought about, by vour intelligent cooperation. l remem- her a mil at the North which had posted on it's office door, No humbugs wanted After this came a list of humbugs, in which the words patented improvements were prominent Without referring to the unfortunate result of the business carried on on this basis. l will say that tf the manufacturers of our country gen. orally had manifested this spirit we should not lead the world as We now do in machinery, and It's use for the service of man in every direction.
 You encourage. rather than discour- age invention by your readiness to try, and to adopt df trial Is successfully any improvement that promises you a better product; and in no case during the pres ent generation has that disposition brought you better results than in the rapid and universal adoption of yielding bearing or rapidly running splindles."
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