The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-12-13
2sxADec IS. 1904.
zHodk
YOUR COTTON.

American cotton Manufacturer,
OF Eharlo he, in it's issue of the It'll has
"a foITotIh to say as to the govern
n hit crop report estimating the
ED ,162, 900 bales. The Messenger
rom Ne first publication Of this report
has maintained that there was no
REASON for the slump in price because
of 1Ihis estimate, taking it to be correct.
WE claim that the world wi. require
Twelve million bales Of cotton to supply
year ending September 1st next. We
1 still believe that the farmers have the
situation in hand. 1t rests with those
who still have cotton on hand whether.
they or the bear spectators shall con-
troll the market. Of course the planters
who have up to this time held back
their cotton can keep the price down to
the present low figures or ever force
it lower if they become panic-stricken
and rush their cotton on the market.
BY so doing they will play into the hand
of the bears On the speculative market.
On the other hand if they will keep off
the market the price is bound to go up.
The mills must have the cotton. They
cannot keep their mills running by
specializing in futures. They must have
the actual cotton. Then let the men
who have raised the cotton and have it
or hand Iotarrpina mot IN mt n on tho
market. 1t seems to us that
the men who are able now to hold their
cotton and do not do SO are doing
themselves and all other cotton grow
ers a great injury.
On the present condition of the mar
ket as the result of the government re-
port The American Cotton Manufac-
turer has the following to say:
On the hasty assumption that the
estimate meant overproduction, prices
slumped materially Saturday and Mon
day. While a calm examination Of the
other side of the case reveals no real
cause for such a RECESSION. 1t is conced-
ed that the crop this year was an early
one and that some 300, 900 bales was
marketed in August. In spite of this
the visible supply of American on the
4th of September this year was 354, 1876
bales less than on the same date the
previous year, and this in face of a
heavy curtailment of production by the
mills. Add this 354, 1896 bales and a
world wide short-time movement equiv
alent to not less than 1,000,0 900 bales
plus new mills and extensions which
will use at least an extra 400, 900 bales
this year, to the total crop of last year
and it will be seen that a total Of r.
17S,082 bales will be required his sea-
son to keep the mills in operation.
If prices do not rule abnormally high,
the mills will probably take considera-
bly, more han their actual requirements
to replenish their very low reserve
stocks, for they were undoubtedly bare
of cotton at the commencement of this
crop ear
1t is safe to say that the normal in
visible supply consisting of cotton in
mill warehouses and manufactured
goods in the process of distribution is
from two to three million bales below
that required to preserve a legitimate
balance between producer and con-
sumner.
One would be foolhardy indeed to
gamble on another season as favorable
i'll every way as the present has been.
In whatever way the situation is ex-
min a big crop was evident and a
bigger one needed. From the view
point of the user, the fieecy staple can
be relied upon TO perform the unexpect-
ed.
Today the men upon whose shoulders
the cotton manufacturing industry is
laid, those who in the fnal analysis
must pay the grower for his crop of
cottOn-theSe men are laboring and are
heavy laden. hat saying of Carlyle
the Sage of Chelsea-that THE leaders
of industry, if industry is ever to be
led, are virtually the captains OF the
world is, in the cotton trade given a
newer Interpretation. For not only are
the captains of invested funds impotent.
They are now driven from pillar TO
post. and again led by a tweaked nose,
by the captains of speculation. who
SOW not. but do surely reap the profits
which of right belong to the tiIer of the
soil and the operator OF the spindle and
loom.
Along the line of the above we give
below a letter from Mr.. 7. b. Parker
secretary and treasurer and business
agent of the Farmers Alliance of this
state. This matter is of SO much i'm
portance to the farmers of this state
and il fact OF the entire south tina we
do not deem i: necessary to apologize to
our readers fer devoting SO much space
to the subject. Mr.. Parker's letter fol-
lows:
The following telegram just received
explains itself:
"Greenvilie. Texas. Dec. Z. 1904.
IT. B. Parker, Raleigh, n. c.;
Mass meeting called on the nth in
every connty in Texas, Indian Territory