The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-13
By r. NJ. Larner.

son is gong south 10 make a personal
investigation of the cotton crop for the
present year. There have been so many
conflicting reports on the subject from
official and unofficial sources that the
conservative, practical secretary has
concluded that he may be able to learn
more by personal observation in the
cotton fields than he can from reports
sent to him by his agents and others
who may have a commercial interest
in the cotton market.
Without intending to anticipate the
report of Secretary Wilson, it is safe
to make a forecast of his discoveries,
provided he will make personal sur
vey of cotton from the time it is plant
ed by the farmer, and follow it through
the various avenues of trade until it
reaches the manufacturer in the United
States or Europe.
In the first place the Honorable Sec
rotary of Agriculture will make the
startling discovery from the farmers
themselves that only about per cent
of the cotton growers of the South are
at this time receiving individual bene-
fits from the prevailing high price of
cotton. Many persons may dispute
this assertion, but it can be easily veri-
fed by consulting the cotton growers
in Georgia, South Carolina, Alabama,
Mississippi, North Carolina and Texas.
In the second place, Secretary Wilson
will learn that the cotton producers
are without proper warehouse facilities
for storing their cotton and holding it
until they are ready to dispose of it at
the highest available price.
Invetigation of this subject should
not be confined to the small minority of
wealthy planters who grow cotton ON
an extraVagant scale. The latter have
the means of building water and fire.
proof warehouses for the storing of
their crop. They can afford to take
their time in disposing of it.
In some localities there is a sharp
annual competition or local rivalry be-
tween rich cotton planters as to who
shall get the first bale of new cotton
to market, State Senator Leigh of
Georgia has the credit of sending the
first twenty-five bales of 1903 cotton to
Atlanta. Last year a neighbor of SEN
ator Leigh beat him by a few days and
this year it was up to Senator Leigh
to make good his boast that he would
send the first cotton to market, no mat
ter what it cost him.
BY planting early and cu1tvating
vigorously, he raised, picked, baled and
shipped twenty-five bales of first grade
cotton early in August, more than a
full month ahead Of the general crop.
The event was duly celebrated and
Senator Leigh displays with pride a
large photograph of a cotton laden
truck ORA Inv fhraa Of
decorated oxen, as the exhibit appear
ed at the place of shipment.
The majority of the small growers
secure advances from local merchants
or bankers on their prospective crops.
not only to aid them in cultivating
their land. but also to obtain the neces-
saries of life. These advances are OBJ
talned sometimes year or two ahead
Where the risk in future results is
so great, the price advanced upon the
cotton is necessarily below the market
rate.
1t frequently occurs that the persons
who advance the money to the plant
ers are obliged to step in and help work
the crop so that the yield may be suf-
ficient to pay them for their invest
ment. Thrifty cotton buyers of Eu-
rope and the United States have agents
in every locality prepared to take such
risks upon future cotton.
Planters who have no store house
of their own. frequently take their cot
ton to private warehouses where they
receive what are commercially known
as warehouse certificates. These GER
tificates are negotiable at many of the
local banks, but they are not recognized
officially by the New York Cotton En-
change.
Occasionally one hears of a small, but
thrifty cotton planter, who does not
trade in futures, but holds his cotton
at home for a rising market. His yield
may not be more than a dozen bales,
but he stores it carefully away until
he concludes to sell.
Until recently the cotton manufac-
turtles of this country were confined to
the New England states, but it is not
so now. The South leads in the manu-
facture of cotton goods, and in the
next decade it is not impossible that
she will head the world in this field of
enterprise.
What is the actual condition of the
cotton crop in the South up to Oct 1?
More cotton was planted during the
present year than ever before in the
history of this country. In many in
stances farmers abandoned truck gar
dening and planted cotton.
The Brown corner in cotton of the
present year seems quite simple when
explained by person on the inside of
the transaction. Brown and his as
sociates ascertained that there were
about 100000 bales of cotton in this
country. The total yield for 1902 was
TO- 72S, 900. OF that amount 6,642,000
bales were exported. The Brown peo-
pie quietly cornered all the cotton
available in this country, forced up the
price and then let go at their own dis
erection. American manufacturers who
were running their mills ON basis Of
6 and cent cotton, could not continue
to operate while cotton was selling as
high as - and IL cents pound. Those
without a good supply on hand were
forced to shut down, thereby throwing
out of work thousands of skilled opera
tors. Some of the mill owners, with a
large supply of cotton on hand, found
1t more profitable to close down and
sell out at the market price prevailing
during July and August.
In the city of Augusta. Ca, the
writer met well known mill owner
who said he had just sold out his en-