The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-01-13
FOURTEEN CENTS
Cotton Up High and In
diCations are For an
Advancing Market.

Spot cotton sold in Raleigh yesterday
at fourteen cents.
That there would be a rise in the mar
ket has been anticipated in these col,
umns, and another advance is to be ex
pected.
In fact, with cotton selling yesterday
at IA cents there is every likelihood that
very shortly it will reach Is cents, anG
over.
There is only one thing which will pre-
vent this, and that is the breaking out
of hostilities between Russia and Japan
This opinion is based upon the undoubtcd
short crop, a position which the dealers
in cotton are being forced to recognize
as the true status.
There were sold here yesterday forty
one bales at prices ranging from 10 IL 20
Il cents a pound. A year ago twenty
three bales were on the market at prices
from IL to 5-S cents a pound.
The farmers who sold at IA cents were
jubilant, but there is to be even greater
joy soon, for sales will be made at figures
above IA cents.
The future market went above that fig
ure yesterday and the tone was generally
very steady. The market faces new con-
ditions bravely and it is recognized that
cotton is on the steady upward move
ment.
1.-The Raleigh cotton market is paying
the best figures for cotton" said buyer
Yesterday. ''The statement has been pub
ished that small nearby towns were pay
ing the highest price paid Monday, and the
figures were 1875 cents, While as a matter
of fact o. p. Heath & Co. paid 1874 for
seventeen bales bought Monday from
Prof Yates of the A. and NJ College
Talking of the situation in the cotton
market, Captain f. Dilling, of Kings
Mountain, during a recent visit to Char
lotte is reported as giving views as fol-
lows:
Cotton is high, but I have no fault to
find with the price. provided can get the
same advance or goods. In fact, am
glad to see the farmers get fair price for
cotton, and 1 think the farmers would be
the first man to let me have fair price
for my goods. We hear lot of talk
about the impossibility of increasing the
price of cotton goods, but this talk doesn't
come from the farmers. 1t comes mostly
from our friends in New York-the com
mission men. These call themselves agents
of the mills, but those who are hammer
ing prices most are doing it in the interest
of customers to hold them, and not in the
interest of the mills.
Every mill man ought to fight for fair
prices 1t isn't the consumer who stands
in the way, but the worse element of the
commission men and the jobber. The far
mer has got mighty good sense, and he
knows that if cotton is high priced, then
cotton goods must be in about the same
proportion.
Il want to see the farmer get a. good
price for his cotton, a high price for his
cotton, but / also want to see the mills
get price enough to keep them alive and
make little profit for the stockholders
also. There no use for one industry to-
eat up another one. There ought to be
room in this country for the cotton pro-
Queer and the cotton manufacturer both.
and believe there is, and plenty to spare.
The condition in which both prosper is
much more apt to be permanent than when
either one alone is prosperous and the
other not