The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-09-28
SP|NNERS PUSH
Up YARN PRICES
Folly to Work Under Pres
ent Conditions.
so THE MILL MEN SAY
They Would Arrange to Shut Down
Their Mills When They Can Not
Get Prices They Ask. The Meet
ing Characterized by
HarmnnY.
Harmony.
(By the Associated Press. }

Charlotte. N. c., Sept. 27.-Pursu-
ant to a recent call by leading cotton
mill men acting independently of any
organization, about fifty spinners. rep
resenting a total of 477,494 spindies
engaged in the manufacture of hard
yarns in North and South Carolina,
met here today and agreed upon an
advanced scale of prices, the following
being unanimously adopted:
AZ ply, 16 1-2c.; 14-2 ply, 1Sc.;
PAP ply, 21c.; So ply, 17c.; 1872 ply,
18 1-2c.; 26-2 ply. 21 lie; 30-2 ply,
% lie; 1872 ply, II ,34c.; 40-2 ply.
2Sc.; 1872 ply, II 3-4c.; 22-2 ply,
20 1-2c.; 40-2 ply, 2Sc., an average in
crease of about &c. over present
prices.
After the adoption of the schedule
of prices, the following advisory con.-
mittee was appointed
j. A. Abernethy, of Lincolnton, ~.
c.; w. c. Heath, of Monroe; Georg-
r. Hiss, of Charlotte, and j. p. Will
son and A. c. Miller of Shelby
Byron Il. Card, of Providence, r.
l., was elected secretary of the advi-
sorry committee.
This committee will keep in close
touch with market conditions in the
interest of the manufacturers and are
auLDOGlZeu 10 ARRANGE anu ISSUE IL COT~
rected schedule of prices from time to
time.
In view of the general demand. do-
sence of accumulated stocks and the
fact that a weekly schedule will be Is
sued the committee urge the exercises
Of due caution in the acceptance or
large orders for future delivery.
1t was the unanimous opinion of the
manufacturers present that their in
tereStS would be best served by con-
fining themselves entirely to one sell
ing house; viz, that no mill would sell
through more than one house, and IL
was further agreed to endorse the
idea that the selling house be request
ed to enter into an agreement with
the mill that they would not specutate
with the product of the mill, Whicn
would be sold through their house.
The Tem~er of the Spinners.
The following was adopted:
Resolved that we, each for our
selves and for the mills we represent
do approve of the schedule of selling
prices for yarns as this day adopted
and hereby bin6 ourselves and the
mills we represent to govern ourselves
accordingly in making sales, and not 10
accept any orders at less than said
prices, until we are advised of change
by the advisory committee
Asked regarding the purpose of the
mill owners, r. S. Reinhardt. presi-
dent of the American Cotton Manufac-
turers Association, said:
1--WE want to get together and agree
on prices at which We will sell our
yarns. Then, if we can't get the
prices we ask we want to arrange 10
shut down our mills until we can get
them. Half of our mills are closed
now. and if prices do not improve, the
other half had as we'll be closed"
That was the tenor of the talk
among the mill men all of whom
agreed that it was folly to do bust
ness under present conditions. There
were many opinions as to the best
course to pursue, but there was no
division when it came to a discussion
of the necessity of some action to
| brine relief.
The meeting was harmonious
| throughout.
| In addition to the mill men, there
are quite a number of commission
men. brokers and cotton dealers in the
city, among them being Alex Mitchell.
Frank Snider. Miles Hoffman, Joe
Mullenaux and John Corbett, Of Phila-
delphia; John G. Mitchell Jr., Bos-
ton; T. E. Connor. Westfield. Mass :;
lH. M. Beebe. Pawtucket r. l.: Will
liam K. Quilhart. Amsterdam N. Y.
William c. Reynolds, New York: Leo
nard Paulson, New York; Ridley
| Watts, Atlanta; j. H. Sloan. and Hen
| ry w. Thompson of Spartanburg.
| S. c.