The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1904-12-14
"HOLD YOUR HOLT" "

Farmers of the south Advised t.
Held Their Cotton
UNTIL TEE PRICE ADVANCES.
This Is the Advice GiveE Them b!
Gotten King Brown or New
Orleans and General
Butler.
W. P. Brown, Of New Orleans ths
great cotton king, has issued an ad
dress over bis signature as follows:
To the Planters, Merchants ane
Bakers Of the South: Cotton ha:
declined tc point below the cost Of
production. Are you going to sell al
present prices, OF hold until you car
get the market value for the balance
of your holdings? The decline is un'
warranted. To be conservative, ]
will say that the balance Of this crop
should bring at least 10 cents at the
ports, and, according to my judgment
the only way to obtain an advance Is
for the planter to keep his cotton on
bis plantation until the actual demand
is sufficient to enable buyers to pay
the proper value for the stuff. The
merchants who are carrying cotton
should mol force what they have OF
the market, but stand firm and de.
mand higher prices, OF not sell.
THE banks all over the south
should stands by the merchants and
planters and not force them to sell
their cotton at present prices, which
they all know is below the cost OF
production. These prices mean ruin
to the south. 1t affects every branch
Of trade and the only thirg to do Is
for every man that is interested In
any manner, shape or form to stand
together. :,
For the sake OF argument, admit
the crop is $4,000, ,oco bales (though I
do not believe it is), the consumption
at these prices will be at least H..
500, ,000 bales, and the other 100000
bales will be a small quantity to 90
into mill reserves. TIE spinpers Of
American cotton throughout the
world should, at least, add this year
to their depleted stocks 500, 900 to L.
900, 900 bales. The visible supply at
the end OF the season, in order to pre-.
| vent 'squeezes' and corners should
be at least ], ,25O, 900 bales. Any well
posted cotton man knows that this is
practically correct, hence I see DO
reason for the holders Of cotton to
get scared and sell at anything like
present prices.
Since the bureau report was Is
sued on Saturday We have seen great
many telegrams from some OF the very
best cotton merchants scattered over
the south to the effect that they be-
lieved the estimate was too large. I
mention this to show you that l am
not the only one who thinks the esti-
mate too large. However, it has the
effect Of putting middling cotton
down to IL cents in the New Or
leans market.
1.-THE South went broke raising cot
ton at S IL cents, and cents per
pound in lSe7-e8, and during that
period everything was cheap, as well
as cotton, and the cost Of raising cot.
ton was small, as compared to the
present crop, which Is the most ex.
pensive one ever grown. 1t would
pay the farmers to sit still and net
market another bale Of this crop un-
til he can get above 10 cents and re-
duce his acreage another season at
least Is per cent and instead Of rais-
ing another bumper crop, raise only
enough to supply the world. The
last crop was only 100000 900 bales,
and it brought more money than any
crop ever raised-much more than
this crop will bring, unless the bal
ance left brings much higher prices
than those ruling today. With COT
ton at i cents at the ports, cotton
plantations are worth today Just about
halt what they we're at this time last
year. Now, every man that is inter
ested in the south, regardless OF the
character Of his business, should be
interested in keeping up the price OF
cotton. Cotton Is one Of the few
things that the world must have, and
the south has 8 monopoly on the ter
ritory where it can be grown, yet
they won't take advantage OF the sit
uation.
There are so many things that
can be raised 10 the south pro6tably
why not turn your attention to other
things and raise less cotton? We have
been told that we needed twelve
million bale crop this year, and, nc"
that you have raised one close to that
| w ulo, uuCy soy JOo Aoou oSAA ~ ~ "
give away price.
Stand together, both merchants,
farmers and bankers, and you will
come out all right, but II you throw
your holdings on the market you may
rest assured that the spinner will buy
it just as low as be pcs5lbly can, ano
I don't blame him for doing so. II
isn't the spinners Of the world at this
time who are forcing the market
down, It Is the bear speculators
Spinners In every country Of thi
world, with few exceptions, are
doing the best business In the history
of the trace. They can afford to pay
from to 10 cents per pound anc
make a good profit at the present
prices goods are bringing. The con
suning world is in a position 6nanci
ally to pay higher prices today thar
they have been for great many
years.
Lew priced cotton really ought Il