The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-08
HOLD YOUR COTTON
Balance of Crop Should
Bring Ten Cents.
W. P. Brown, the New ORGANS Cotton
King, Says the Present De-
cline is UnWar-
ranted.


question with the South to-day.
The remarkable slump in prices has
come as "a serious blow to thousands
of farmers who still have a portion
of their crop on hand. Most of them
need the money. "To sell or not to
sell that is the question" with them
ALL
Il have seventy bales" said Mr.. j.
| d. Allen of Barton's creek township,
ex-legislator and ex-county commits
sioner. land / will hold on to it and
decline to sell at present prices. | do
not believe the crop is as large as the
recent guesses and statements would
seem to Indicate.
/ Mr.. w. P. Brown, the New Orleans
cotton king, advises farmers to hold
their cotton at present prices. If they
desire to take his advice they will have
no trouble borrowing money on their
cotton in Raleigh or elsewhere Here
| is the statement given out by Mr..
Brown:
Cotton has declined to a point be-
/ low the cost of production. Are you
| going to sell at present prices or hold
until you can get the market value for
J the balance of "our holdings? The
| decline is unwarranted To be con-
| sentative L will say that the balance of
this crop should bring at least 10
cents at the ports and according 70
my judgment the only way to obtain
an advance is for the planter to keep
| his cotton on his plantation until the
! actual demand is sufficient 10 enable
| buyers to pay the proper value for the
stuff. The merchants VIII are carry
| ing cotton should not force what they
| have on the market but stand firm and
demand higher prices or not sell. The
| banks all over the South should stand
| % Nl1ntprG
not force them to sell their cotton al
present prices, which they all know Is
| below the cost of production. These
prices mean ruin to the SOutl. 1t
affects every branch of trade and the
| only thing to do is for every man that
| is interested in any manner. shape or
form, to stand together For the
sake of argument admit that the crop
| is twelve million bales (though | do
| not believe it isl the consumption at
| these prices will be at least IL IL
million bales and the other half mil
| lion bales will be a small quantity to
| go into mill reserves. The spinnerS of
American cotton throughout the
world should at least add this year
to their depleted stocks half a mill
lion to a million bales.
South Went Broke.
ne south went broke raising cot
and 1888, and during that period
everything was cheap as well as cotton
and the cost of raising cotton was
small as compared to the present crop
which is the most expensive one ever
grown. 1t would pay the farmers to
sit still and not market another bale
of this crop until he can get above 10
ents, and reduce his acreage another
season at least / 5 per cent. and instead
of raising another bumper crop. raise
only enough to supply the world. The
last crop was only ten million bales
and it brought more money than anV
! crop ever raised-much more than this
| crop will bring unless the balance left
brings much higher prices than those
| ruling to-day. With cotton at z IL
cents at the ports, cotton plantations
| are worth to-day lust about half what
| they were at this time last year. Now
every man that is interested in the
South regardless OF the character of
| his business should be interested in
keeping up the price of cotton. Cot
| ton is one Of the few things that the
| world must have and the South has a
monopoly on the territory where it can
! be grown, yet the won't take advant-
| age of the situation. There are so
many things that can be raised in the
| South profitably. Why not turn your
attention to other things and raise less
| cotton? We have been told that we
needed a 100000 bale crop this
| year and now that you have raised
| one close to that figure they say YOU
must sell it at Il g1Ve-away price.
Stand together, both merchants, farm
| ers and bankers and you will come out
Ill right. but if you throw your holding
On the market you may rest assured
| that the spinners will buy it just as
| ow as he possibly can and / don't
blame him for doing so. 1t isn't the
| spinnerS of the world at this time who
| are forcing the market down: it is the
bear spectators. Spinners in every
country of the world. with few ex.
| ceptions are doin" the best business
| in the history of the trade. They can
afford to pay from 9 to 10 cents per
pouud and make a good profit at the
| present prices goods are bringing. Thu
consuming world is in position fl
nancially to pay higher prices to-day
nan they have been for a great many
years. Low priced cotton really
| ought to be a thing of the past"
The farmers of the South may have
something to say in fixing the price.
| If they rush their cotton upon an
! eight-cent market, there will then be
| no chance for them to get more for
it. They are able to hold it, For
every ten farmers not able to hold
| their cotton, we believe there are
| twenty able to buy it a eight cents
and hold it for them. The laborer is
worthy of his hire The Southern
| planter is entitled to a profit on the
| cotton he raises. He can meet the
bear spectators only by keeping his
cotton from their market and refusing
to fall a victim to their temptations
| Gastonia Gazette.
One man who still has his last years
| cotton which he saw rise in price
| above 16 cents and also all he made
| this Year, gets some consolation in a
| peculiar way. ITS the same cotton
that it was then he says. 1T is just
as good, too. even if it doesn't bring
as much. Monroe Enquirer
iCAROIINA NORTHERN RAILROAD