The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-09-27
Market Cotton Slowly.

long wished to realize good prices for
their staple and the opportune time has
now arrived il proper Judgment is exer-
cised in marketing the present maturing
crop. To make a success OF any business.
a thorough knowledge of every depart
ment connected with it, and a judicious
exercise of sound Judgment must be dis
played. We have now reached the stage
in the worlds production and use of cot
ton where the laws of supply and de-
mand can be fixed and regulated upon a
legitimate basis. We are no longer faced
with a nenromous surplus as was the
case each year until quite recently, Civ
ing the mills and the spectators an OPP
portunity TO depress prices by claiming
the existence of ncavy stocks on hand
Since the organization of the Southern
Cotton Growers Association in 1900,
strong efforts have been put forward
each year by the members and officers
of the association in each State, looking
to the adoption of more systematic and
businesS-like methods in selling the crop
The rapidity with which the great staple
crop of the South has been rushed on the
market in past years has been ruinous to
the producers. An enormous oversupply
has bee created during short period
of time then no legitimate demand has
existed. In the early fall spinners have
been in the habit of buying supplies to
last for 80 and 80 days only, after which
they retire from the market and the pro-
ducers are then left in the hands of specu-
lators who continue to buy up the crop
making contracts with mills for future
deliveries as the staple may be needed
forf actual consumption. To force the
sale of a twelve months supply of any
commodity within the short space of three
or four months will necessarily place the
seller at great disadvantage in the mar
ket.
The great object and purpose of our as
ISOLATION has been to, first, place into ac-
tive operation scheme by which correct
and reliable statistics could be gathered
regarding the yield of each years crop,
and put that information into the hands
of the producers, manufacturers, and the
legitimate trade as rapidly and as early in
the season as possible. This is now being
perfected through the cooperation of the
United States Census and Agricultural
Department at Washington, by the re-
ports of ginners on the one hand, and
the reports of fully 10000 active CORE
spondents through the other. 1t may
safely be predicted now that the time is
near at hand when commercial reports.
often gotten UP for selfish purposes. will
become a thing of the past, and will ex-
ercise but little or no influence upon the
crop from the standpoint of statistical
report commanding serious consideration
| ()JIr ,toy
as the first. is to educate the producers
upon the high Importance of moving the
crop slowly. To market one-tenth of the
crop each month, instead of one-fourth
as has been the rule in the past. If the
growers of cotton will cooperate to break
up the present bad system by which near
ly one-fourth of our cotton crop is con
tracted for in October deliveries, a giant
stride in the right direction will have been
gained. The legitimate market for spot
cotton can and is as easily glutted as
with any other farm product. Two i'm
portant essentials are necessary to a so
luton of this problem; make our fall
accounts due in October, one-third, Jan
uary one-third and the balance April LIST
the following year, then begin to raise
more supplies at home and cut the strong
band of the supply merchant which die
tates the sale of most of the crop as fast
as gathered.
THE PRESENT SITUATION.
This season the producers occupy the
strongest position in the regulation of
prices for the crop which will soon be
ready for market. Supplies for the raw
staple have been more completely ex-
hausted within the past year than at any
time within the past four decades. The
present high prices for SPOT cotton is due
TO scarcity of raw cotton, and a denial
of this fact cannot be unloaded on the
shoulders of the Brown, Sully bull"
clique. The mills have shut down because
they have no cotton to spin and because
they cannot find in the market such
grades as are fit for spinning purposes.
Stocks are exhausted and the active OPP
Grafton of spindles in this country and
in Europe can only be undertaken after
the present crop begins to move to mar
ket. This fact is clearly emphasized by
the activity of mills in pushing their or
ders for new cotton at this time This
state of affairs could not exist if the mills
were shut down simply because the pres
ent prices Were higher than usual. These
reports are being sent broadcast over the
country at this time to depress prices and
to enable the mills to get their supplies al
greatly reduced prices. Aside from the ex,
haustion of supplies which can be de
signated better as a cotton famine, the
condition of the present growing crop is
not such now as to forecast any hope in
the minds of any one that much larger
yield will be made this year than last
The boil weevil according to advices just
received, are doing great damage to the
crop in 81 counties through the middle and
southern portions of Texas, while the bob
worm is ravag;ng the crop in northern
Texas. East of the Mississippi rust and
shedding is seriously affecting the plants
In all of the ola States. Just what would
result from a crop already three weeks
late by the visit of an early frost it is
hard to predict. These are matters which
must to a greater or less extent figure in
the future of the crop. Certainly there is
no sound argument in farmers forcing
their cotton on the market rapidly during
the next two months up ,ess present prices