The Montgomery advertiser., 1904-04-28
COTTON MEN MEET
NEW ENGLAND MANUFACTURE.
 FRS IN SESSION.
President walmsley Says the Cues. tion Pressing for Solution is Development of Resources
 of the South.

Boston, April 27--In his annual address to the members of the New Eng and Cotton Manufacturers Association, which began It's yearly convention here today, President Herbert E. Walmsley said that
 one of the most pressing questions engag-
 ing the attention of the cotton world to-
 day was that of the development of the
 resources of the Soutern cotton belt
 He held that 1t was essential to the
 interests of the United States, as a pro-
 ducer. manufacturer and exporter of cot
 ton. that the supply from our fields be in- creased and its cost reduced so as to re-
 tain an enormous source of wealth to the
 country. He expressed the belief that
 the trade would never be free from ''un-
 lawful high prices, speculation and un-
 satisfactory and harmful fluctuations" 1"
 until there is ample supply of the raw
 material
 Mir. walmsley thought the result of
 the disastrous twelve months just passed
 with its shortage of cotton and It's specu-
 iative manipulation would ultimately
 prove blessing In disguise for the en-
 tire manufacturing world. It was not
 unreasonable. he said. to anticipate a
 revival of trade at rcmunerative prices
 and return to a long period of pros
 perHy.
 Speaking of tho labor problem, the
 president said it might be a long time
 before uniform working day or week
 was established in tho United States,
 but when the necessity for 1t was
 recognized, he said it would inevitably come. He pointed out that the margin
 of profits in cotton manufacturing was now so small that such a difference as
 exists in the working hours in different States. particularly between the North and South, was enough to compel a re- novel to the South where there are longer labor days. or elsc suspension of business altogether.
 Mir Walmsley said that 1t would ap- pear that relief may come through im- migration from Southern Europe for the development of the cotton fields. He suggested that the economic neces- sity might become so pressing as to | justify and even demand the importa- tion of some form of labor; for in- stance the Japanese. The operatives. | he said. were the chief sufferers from 1 the lack of raw material, and the sit- uation had become intolerable. Theodore H. Price of New York, read paper upon "the cotton situation" in connection with which he referred to an alleged breach between the produce CTS of cotton and the purchasers. He said that he did not believe any such antagonism existed. but thought there was bitter feeling towards the spec ulator. MT. Price held that the Ameri- can spinner Is in position to exert a tremendous power in restraining im- moderate speculation and in establish ing a stability of value.
 General William F. Draper of Hope dale, contributed a discussion of the spindle situation, outlining the ad- vances in cotton mill machinery. An other paper of particular interest to the trade was read by Frederick s. Green of New York who explained the advantages of rope transmission of power in textile plants. The final pa- per scheduled to-day was by Edward N. Vose of New York who presented a
 study of the work of the United States consuls in widening the export market for American cottons.
 The meeting will be continued to- morrow.