The Montgomery advertiser., 1904-11-05
gathering and ginning the crop,

gathering and ginning the crop. The Einners' report issued October 25, ifdi- cated that a little more than five nnii- lion bales had been ginned, while Sec retary Hester's report for the same length of time shows that over 60 per cent was being held in the hands Of the producers. If only i've and q quar- ter million bales had been sinned on October IS, it must be clear to every farmer that the high estimate placed upon this crop by the bear speculators will never materiaiize. They are using the same devices adopted last year | to break the nerve of the producers. Note their figures of last year compar- ed with the facts: MT. Theodore Price. on September 2S. 1903. issued a cifcu- la restimating the crop for 19D3-4 to be 1l,744,S55 bales: A. !. Buston, the palace car statistician of Liverpool. England. on October 2S, figured the crop at 11,25o.0o0 bales; Nell Bros. of England. on November 24, 1eo2, esti- mated the crop at 11,000,000 bales, and H. c. Gorst of Liverpool, on the same date issued an estimate of i1.430,00o bales. Now let us look at the esti- mates of disinterested parties: The United States Department of Agricul- ture, on December 8. 1903. estimated the crop at 9,962,03s bales; the Southern Commissioners of Agriculture on octo- ber 9. at Montgomery. Ala, fixed the yield at 10,471, ,oo0 bales. Now let us see the actual crop. The actual com merciai crop for 190s-4 was 10.e1i,s7 bales. Note the comparison of bear and government estimates. The United States Department of Agriculture was under the actual figures only about 4e.- 900 bales. The Southern Commission aA0 bales, and Mir. Price missed 1t f,Ts4.e0o bales, and the rest of the bear element all the way from a million to a million and e halt bales. Mir. Price ie purBu- ing the same course this season and calling on the producers to dump their cotton on the market so as to depress prices and let Mir Bear Price coin his millions at the expense of hundreds of thousands of farmers throuGh the South.
 Present Crop shert. The recent estimate of the Southern Commissioners of Agriculture, in com vention at Baton Rouge, La. on octo- Der 22, estimated the crop for this sea- son at 10,17l. 900 bales. The commits sioners overestimated the crop 4eO.000 bales last year. and the indications are that they are not so far wrong this year. Even if the crop is 1l.0oo.0 900 l bales the world wants every bale of 1t, and the spinners are better able to pay high prices than last year. for yarns have advanced cents per pound this season. and heavy demar'i for cotton goods exists.
 therefore call upon each and every producer to stand firm and refuse to throw any cotton on the market at pre- | sent prices. Heavy receipts depress ha "A r1r ak The aNAes,fakAwM he~,n aalA millions of bales and they want to buy
 that cotton at less than it Is worth. The producers should demand from ii to I2 cents for the balance of this crop. They are in position to force prices by sellingly slowly. Debts have been paid as a rule, and there Is no longer any necessity for rushing our cotton on the market
 The merchants and bankers of the South should encourage slow selling because the prosperity of the producer means prosperity in all the other ave- nues of trade in the South. We will staple has been gathered and ginned. Let us determine to stand firmly to- gether and force the bear spectators to cover. The present price of cotton is too low. I urge every farmer to refuse to sell until the market read justs itself. Have no fear that the price will be lower than now. Those who hold will get better prices when the speculators are forced to pay them. The producers are now standing frm, but the spinners and speculators hope to break their nerve and cause a gen. eral rush on the market in the near future. Let us prove to the world that Southern producers can assert and maintain their rights in the face of the strongest opposition ever organised to depress the price of cotton. Pay no attention to bumper crop estimates. Let the buyers know that the balance of this crop can only be purchased at prices between 10 and 1e cents per pound. Store your cotton at nome under good cover to keep 1t safe from the weather. If money is needed store your cotton in a local warehouse and use the receipts as collateral to bor- row money from your local banks. Don't sell any cotton at present prices merely to follow an old plan of sell ing. By holding your cotton the ad~ vance in price will pay heavy interest on the investment, when no interest will be secured if you sell now and put the money in the bank. Insure your cotton whether at home or in a warehouse. and take no risks where risks are likely to be incurred. Let us sell this crop for at least $700. .Oo0!oOO and put general prosperity among the farmers of the South.
 Yours fespeetfully.
 Harvie Jordan.
 President Southern Cotton Growers
 Protective Association.