The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-05-13
Reinhardt President of
Cotton Association.
THE COTTON GAMBLER
Price Sees No Way to Eliminate this
Parasite. Knoxville Gets The
Next Convention. Roosevelt
Receives the Mill
Men.
CBy the Associated Press }

Washington, ID. G.. May 12.-Thc
American Cotton Manufacturers aSso-
citation at it's concluding session to-
day, was addressed by Theodore H.
Price, of New York, on the effect of
turer.
Mr.. Price stated at the outset that
he saw no way TO eliminate specula-
ton from the commercial world. Its
baneful influence could be curtailed
he believed, by the education of the
gambler-the 'unthinl<ing specula-
tor" He suggested that there should
be an increase in the marginal re-
whereby an actual buyer of cotton for
future delivery might designate the
grade wanted.
AT the session which lasted over two
hours the following officers were
elected:
president, r. S. Reinhardt, Lin
colnton, n. c.: Vice president, A. II.
Lowe. Fitchburg. Mass; Secretary
Treasurer, c. b. Bryant. Charlotte, n.
c.; Chairman OF Board of Governors,
r. X. Ray, McAdensville, n. c.; on
Board of Governors, T. NJ. Swift Ell
berton. Ga; j. c. Smith, Newton, n.
c.; Val Taylor, Uniohtown, Ala; j.
p. Leak, Rockingham, n. c.; w. c.
Heath Monroe. n. c., and A. j. Dra-
per, Pell City. Ala.
The next convention will be held
at Knoxville, Tenn, the second Wed
nesday and Thursday i'm May, 1905
Resolutions were agreed TO indors-
ing the establishment of industrial
schools through 4fil I'}e country also
for committee to meet the South
eastern Cotton Buyers association to
formulate satisfactory rules between
the buyers and mills in regard to the
delivery of cotton.
The retiring president. Mr.. Heath,
was presented with a silver service by
the association. the presentation be-
ing made by ID. A. Tompl<ins, of Char
lotte, n. G.
one hundred and sixteen new mem
bers were received into the associa-
tion during the convention.
Received by Roosevelt.
This afternoon President Roosevelt
received the members of the associa-
ton. their families and guests in the
east room of the White House
After the members of the associa-
ton had assembled in the White
House President Reinhardt expressed
the thanks of his colleagues for the
opportunity to meet the President
TO this President Roosevelt expressed
ANY American would be proud to
greet such a body as this he contin-
ued "A body of men who stand for
so much in the industrial develop
ment of the country and who particu-
larly stand for making that industrial
development apply to all sections of
the country All far-seeing American
must view with peculiar interest and
must have special concern for any
industry which is showing such
marked growth in any given section
of the country.
1T is to the interest of each section
that there should be a diversity of
business in ii; that it should not be
merely agriculture, but should contain
manufactures also It is of interest TO
the whole country that each section
should flourish.
'If there is one lesson more than
any other which all of us need, not
merely to learn but TO keep ever fresh
i'm our minds. it is that fundamental
ly we shall all go up or go down to-
gether There are exceptions of
course. Occasionally men will prosper
through general adversely and there
are rneu who. in general prosperity
will fail to get their share Of that
nrosperitv. But. speaking broadly,
we shall all go up or down together
In the long run disaster TO one section
means disaster to the whole National
well being and National prosperity
means prosperity for the employer
and the wage Garner alike. For un-
der no conceivable circumstances VIII
If he nossible that one should pros
nor snd fhe other suffer as a perma
nent thing. Either all of us will go
mn or All of us will go down. There
fore it is matter of peculiar. interest
to NE. from the standpoint of all the
country to meet you and greet you
tOdaV'