The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-09-18
THE COTTON CROP.

MARKETING THE COTTON CROP.
Hon. Harvie Jordan, president of the
Southern Cotton Growers Protective
Association. has issued an address TO
cotton producers relative to the mar
keting of the present maturing crop.
Heretofore it has been the policy of
cotton producers TO rush the crop to
market as soon as it was harvested. In
view of the prevailing level of prices,
the tendency the present season is in
the same directon-to get the staple
out of the fields and into the market
at the. earliest possible moment. There
is a fear that a decline in prices will
occur when the movement has started
freely, hence the eagerness to catch
the market at the best possible figures.
As a general thing, years supply of
cotton passes from the producer into
the hands of the manufacturer and the
speculator in about four months. Mr..
Jordan urges that there be no such
flooding of the market this season. He
argues that to market one-tenth in
stead Of one-fourth of the crop per
month must necessarily have the effect
In former years it has been neces-
sary for the great majority of cotton
producers to sell as quickly as might
be possible, since they were in debt
and needed the proceeds of the crop
to liquidate their obligations. This
year, owing to the practice of economy
and the diversifcation of crops, there
;e. ylat
than for many seasons. They are in
a better position than they have been,
probably, since the war. The percent
age of those who are forced to sell i'm
mediately is not nearly so large as in
former years. Thus, if the farmer
chooses to do so, he can hold his cot
ton for a time without having credit
ors pressing him.
The statistical position of cotton is
more in favor of the producer than it
has been for a long time. There is no
great surplus banked away in ware
houses at the distributing points, and
the manufa cturers, both domestic and
foreign. are without considerable stocks.
Before the mills can go into operation
again on full time they must draw on
the new crop for raw material. The
demand is present; the supply to meet
it should not be too eager and too
great. when the market begins to
sag" says Mr.. Jordan, CHECK ship
ments at once. Sell the crop slowly,
and furnish the mills with such sup
plies as are needed for spinning pur-
poses, and do not, by the usual meth
DDS, give the mills and the spectators
the whip hand of the situation.
Consumption Of cotton has outstripped
production, and knowledge of this
fact should maintain prices at a high
level until conditions change, which is
not likely to come to pass for many
years, if ever again.
Mr. Jordan thinks that 10 cents
pound is a fair price for the cotton
grower TO receive for his product, and
he advises the holding of meetings in
every county to take steps to see that
the crop is marketed in such judicious
manner that that price shall be OBJ
tanned locally. Whether an effective
agreement on that basis could be made
and carried out is question. tx
perience has shown that it is a very
difficult well-nigh Impossible UNI
dertaking to influence the, production
or the marketing of a cotton crop
through local meetings and agree
ments. The market prices of the sta
ple are attractive at present, and there
are many producers who will deem 1t
to their advantage to sell at the earliest
practicable moment. Whether it is the
best policy to hold cotton or to market
n at once is question which each
nroducers must consider and settle for
himself.