The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-10-16
Spinners and Growers Fighting
for Control of Crop. While
Little Is Marketed.
FARMER HAS THE ADVANTAGE.
Financial Needs Are Less Press
ing Than Usual, While De-
mand for Staple Is Strong
and Prices Profitable.
REPUBLIC SPECIAL.

REPUBLIC SPECIAL
New Orleans. La. Oct. L5.-Never in the
Sistory OF cotton growing IN the South
has the market presented such a perplex-
ing problem as that OF to-day.
Veteran spectators N the most emf
rent crop experts candidly admit tsat they
ifays encountered a veritable Chinese
puzzle. and Will not attempt 20 predict the
end.
A new and decidedly novel element has
entered the market. For the first time on
record the control OF this gigantic crop.
the vaire CT which this wear will be be-
tween ey3.o1o.H9 and 500. or. has re-
solved Itself into n fight between the spin
rer and the actual producer, and the world
OF finance will watch with keenest interest
and anxiety during the next few weeks TO
zee the outcome OF the struggle.
Heretofore tie producer has had little or
nothing TO do with the fixing the price OF
cotton. The struggle has been between
the spinrers OF Manchester and Full River
on ono side and market r~aanipulators on
the other. But this year the ~Inanipaiators
have not secured possession of the crop.
The arue himself has become the ma
nipuiator. and positively refuses 10 sell
unless he can get his own price for II.
r HOLDING BACK COTTON.
in other words. the farmer declines TO
sell his cotton unless he can get 10 cents
Per pound CT better. This is what re
thinks i. is worth. and he does rot intend
10 take less. The movement is general
throughout the South. From orsry state
In the cotton belt within the past few days
have come reports that .ar.ners Who
hauled their cotton to town and could not
get 10 cents. per pound promptly hauled
It home again, or else stored IL In ware
houses to await an advance IN tho mar
ket.
And. for the first time In history, the
farmer can AFFORD to do this. Re Is pros,
porous. He don need money. ScI eral
good crop years have made him indspend-
ent. For the first I'm since the war the
cotton planter is free from debt and has
money In the bank His obligations are no
longer pressing.
II no happens to be somewhat short In
actual funds the bank is ready and
ton remains in the warehouse TO await On
upward urn Of the market. In fact. 1t Is
the bankers who are urging the farmers
to hold cotton. They have entered into the
TO help the farmer win his battle
SITUATION IS PECULIAR.
There never has been such a peculiar
situation IN the South rs that presented
by the cotton market. The vital phases
may be briefly summed up as follows:
The total crop will be between 100000
total 1tSSi' viii fI Exceed 4 g. H s.5S sNsS't bales j. the
The crop has been harvested unusually
early. Fully 80 per cent Of tho total yield
has already been picked.
Weather has been remarkably favorable
for picking. being exceedingly hot and
dry. AT tho same time. It has greatly |
damaged the crop on account of premature
The Government says the average condl-
tion Is 1873 per cent. against e6l per cent
on the same date last year. a betternent
servers do rot believe these figures. They
say the Government IS too bearish.
been picked. q oniy 1,ssI.6o bales Ess have been
marketed. Between 100000 and 100000 |
bales are being held on farms and in
The interior movement is showing a de-
cided decline. Gotten in sight FOR the pres
ent week will not exceed q 1000 bales. de-
being picked.
Despite the besrish reports Of the Gov ,
eminent last week. cotton shows an actual
gam Of 3 points N PRICE; Indicating lack
FIGHT JUST BEGUN.
This farmer has just commenced his
struggle with the spinner. His plan of
campaign is not to hold back all the crop,
but to judiciously meet the market with
out using force. 1. is his plan to keep in
terror movement and cotton In sight a few
notches below last years 1gL-es.
II this plan is carried out, tho farmers
load Will not be too heavy for his COM
fort, nor can forced sales be made the
signal for a lower market. He is going to
allow the spinner only what Is needed for
actual consumption.
Practically the entire crop will be bar
vested before the middle of November. In
some States picking Is already almost nm
ished. Texas having only q small portion
of her crop in the field.
Frost will not, in all likelihood. make
lis 2DDearance haf0ro Noyeroher orcoos e., |
the extreme northern portion of the cot
ton belt. The first killing frost inevitably
means an advance in the market, regard
less Of the statistical situation.