The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-11


amounting in our money to about a
dollar a bale decline. The cause
sent over by cable from the foreign
market for the decline, was because
of heavy selling orders from American
bears.
Early morning declines on the Liv
erpool market-the first cotton ex-
change that opens-have been special
features in cotton traffic during the
entire week. Somehow or other New
York responses to these early cables
have not been very energetic while
spot markets in the South have scarce
Iy responded at all.
That these bear raids on the for
eign market are attempts to manipu-
late the market in the interest of the
bear manipulatorS in New York, is
apparent to any close observer.
Mr. Theo. H. Price. the great bear
leader. has flooded the mill men of
the South during the week with bear
circulars. On Thursday five men con-
nected with one Raleigh mill. and
eleven men connected with one Dur
ham mill each received one of these
circulars predicting still lower prices
for cotton.
A few seasons ago when this same
Mr.. Price was leading the bull side
of cotton he SHE'D clear of Southern
mills or mill men. and plastered the
rural WIFI DULL iIleTdluFe. II
is an II tickle you and you tickle me-"
game with this manipulation always,
and sometimes it takes him only about
twenty-four hours to change positions.
Is il not q sad commentary on the
makers, mowers and manufacturers of
real cotton that this wholesale import
er, exporter and manipulation of wind
should be allowed to swing the pendu
lum of value just as he pleaSeS. He
oloir tn
the cotton belt than the United States
government has. 1t would seem that
aU this moment all these thousands OF
correspondents together with the COM
me1cial columns of many of the
South's leading newspapers are furn-
ishing the big stick with which this
famous market manipulation is break
ing the heads of. planters. mill men,
bankers, merchants andff others al
over the South. He sweeps the South
for such information as he desires and
then pours it back in torrents of bust
ness depression. Talk about the use
lesSnesS of agitation. Agitation is this
mans principal stock in trade. He
agitates the wires. He agitates the
mails. He agitates the newspapers.
He agitateS the cables that stretch
from shore to shore. He agltates
everything and everybody in his eff
forts to manipulate prices, sometimes
on the one side. sometimes on the
other Have not the people of the
South had about enough of this kind
of business? Is it not about time for
them to get down to saving wood and
SAYING nothing? Waste baskets are
good things in editorial rooms
and in the household There is need
for waste baskets just now all over the
South in which to consign designing,
injurious, and other literature from
whose
is TO profit by further depression OF
the South's business interest. But to
the point | ask. if few market
nlanIpuiatorS however adro1t, however
smart however bold, can by agltation
and alertness enhance or crush values
as they please! cannon the colloli
pianters of the South with the aid and
sympathy of every other interest III
the South line up IN some manner ana
demand a fair value for the unmark-
eted part of this years cotton crop
| propose cooperation on a twenty
per cent. basis, hold twenty per cent.
of this years crop-plant twenty per
cent. less next year. Every man that
/ have seen or heard from says that
the plan is feasible one.
MANY cotton mill men say there Is
no reason for the low prices now ex-
listing.
MIR. A. P. Rhyme of Mt. Holly, one
of the leading and most successful cot
ton mill men in the State says
eff we have a crop of 100000
bales. that ought not to bring the
price of cotton down to its present
level. We received before September
100000 or 100000 bales OF TINS crop
and there will be at least 5OO,OOO pales
carried over to the next crop. making
about 500 900 bales, and leaving only
1l.4OO, 600 bales of the 12,OOO,OOO. Inc
mills will consume about that much
cotton If they can get IL PROVIDED
conditions remain anything ike they
are now, and you can see at glance
what a golden opportunity the FARMER
has" 80,
what position are the mill men
taking on this question:" Mr.. Rhyme
was asked. -
1--WE want the farmer to get lO
cents for his cotton. We can sell our
product on that basis and VIII nave
no trouble getting the increases
prices. we have demonstrated that.
Cotton is worth 10 cents TO the FARMER
if it is worth anything.
The Mills Busy.
Before ending the interview Mr..
Rbvne stated that the cotton mills
had all they could do. His mills. Tour
in number. have sold several months
ahead, are working full time. nave not
been able to catch up ana VIII Io'
eaten ND WITH OTu6IS lOi many
He has had to turn down many or
derS.
He firmly believes that the SOUTH
ern planter holds the key to the SIT
uation-that the present is the goio'n
moment to force the price OF COTTON
to 10 cents and keep it there. II
had time he said, 81 could easily
organize the farmers of the South 10
beat these spectators at their own
game and it wouldn't take long to do
the job. The South can do it and
should do it and l want to see the
Southern farmers get together on this
organization PLAN"
Mr.. j. NJ. Wright, a large planter
of Laurinburg, writes as follows:
Il see your wise and timely article
in The News and Observer and as I
am one of the sufferers this year, will
write you to let you know that I en-
dorse every word and suggestion you
make. Go ahead and for the sake
of all that is just and right skin alive
the Internal interest of our own
South, even that is trying to starye
the cotton planter.
We cant make cotton for less than
10 cents and realize per cent in
terest. While the world knows that
the cotton culture is of paramount
,,tilftx, ~ no comfort and ial