The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-05-15
PRICES ARE
ARTIFICIAL
President Hiss Complains Of
Cotton Manipulators.
HE OFFERS A REMEDY
Seventh Annual Session ofthe Southern
Cotton Spnners Association at
CharIotte-Other Addresses
of Importance.
Especial to The Times Dispatch.)

Especial to Tho Times Dispatch.)
CHARLOTTE, N. c., May H.-One OF
the important features Of to-day's ses-
{ sion of the Southern Cotton Spinners
Association was the statement made by
President Hiss that he favored curtall-
ment In order to cope with tho profess
Bional rnanipulators OF the cotton market.
Mr.. Hiss stated that his idea was for
the mills to run one week and stop the
next. In other words. the mills would
run only half time during the fighty con-
dtion OF the market. It Is a we'll known
fact that cotton manufacturers cannot
pay these prices for cotton and continue,
to sell yarns. or. in fact, any OF their
products. at the prevailing prices. This
condition of affairs. Mr.. Hiss said. Is
squarely up to the cotton spinners and 1t
Is condition that must be met. Mr..
Hiss said In part
During the past two years manufac-
turers using American-grown cotton
have failed to secure a proper margin OF
profit and II has been during these last
two years that cotton "manlpulators"
have held their greatest sway. II IS
estimated that between 100000 and lN'..
$4,000 bales Of cotton are bought anil
sold annually in this country while we
actually produce an average OF but
100000 bales annually. Is 1t not prob
able that these manipulators have an UNI
favorable bearing on profits OF the man
ufacturerS III Inns country uSlHs AWct
can-grown cotton2
EXCEPT In n few special fabrics the
price the manipulators have fixed for
cotton to-day IL out OF all proportion to
the price the manufacturer can realize
for his product. Is there not remedy
for this situation? II the cotton manu-
facturer could arrange to buy his years
rupply OF raw stock by making his pur-
chase during the period covered from
September LIST to December LIST OF each
year las is largely the case with our for
eign competitor). there would be but
slight opportunity for the manipulation
10 }uggle profit out OF the few hun
drcd thousand bales not taken up by
these purchases
Another important suggestion made by
Mr. Hiss was that the association change
It's name from the Southern Cotton Spin
ners' Association to the American Cot
ion Manufacturers Association. It Ia
generally believed that this change VIII
be made at the present meeting
The seventh annual session OF the con-
yentIon was called to order at 1880
o'clock this morning by President Hiss.
1 Prayer was offered by DR.. Detw1ler. OF
the Methodist Church. after which G. y.
Bryant, secretary and treasurer OF the
association presented the body with a
gavel made OF wood from the first cot
ton mill, built In 1872, in Georgia. The
address OF welcome was delivered by
r. c. Guthrie Of the Charlotte bar ana
the response was by w. G. Heath. one
OF the board OF governors of the ASSOC
citation These were followed by the an
nual address by President Hiss. A paper
read by General W. f. Draper. on De-
velopment OF Rapidly Running or Yield
ing Bearing SpindIes." was literally ap-
plauded. Hon. Edward Atkinson was
the next speaker. His subject was Mu-
tual Fire Protection"
The convention adjourned for the DAY
at : o'clock this afternoon.