The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-09-27
COTTON.

Inc New DIX ItpOl 10
that Mr. Harvey Jordan, president
and Mr.. Richard Cheatham, secre-
tary, OF the Southern Cotton Asso-
citation, are in New York in consulta-
ton with Mr.. Hoadley and others with
reference to big cotton holding syn
divate. Here is the scheme as out
lined by the Commercials;
'"rhe plan, as has been explained
before, is an agreement between
syndicate and the Southern Cotton AS
ISOLATION and the Farmers Union, by
which the syndicate agrees TO Guy
100000 bales of cotton at minimum
price of IL cents pound. The aSso-
citation will obtain the cotton from its
members, each man selling only ii
part of his crop to the syndicate, and
holding the rest for the minimum
price
THE project which is q most elabo-
rate one in its details and which would
make the syndicate the biggest and
most powerful spot cotton factor in
the world, has been submitted to some
of the leading financiers and bankers
of New York and approved by them.
1t is expected that an important an
nouncement will be made in the mat
ter in q few days
THE cotton market has been some
Ell
that the realization that it is not sim
ply a talk, would come in the nature
of a surprise, which might accentuate
it's effect on the market. The men
behind the plan certainly seem to De
very much in earnest, and much care
has been taken in the perfection OF
the details. .-..s.
Mr.. ]. c. Deitz. of Texas, who de-
Inmates that the cotton crop OF 1903
will be S,960,192 bales of 500 pounds
weight His predictions have hereto
fore been very nearly accurate. In
1903 his estimate, made October I'D,
was 10000, 900 bales. In 1904 on
September 10th, he predicted a crop
of 13,142,00 bales,
In the summary by Mr.. Deitz of the
causes of the prospective small yield,
are four well defined reasons, as fol-
lows:
"a large reduction in acreage.
"2. Poor results from the use of fer
tlizers in the Atlantic States. CThls
he explains by saying that the weeds
and grass absorbed the fruit-making
properties of the fertilizer before the
cotton plant was ready to take on
fruit.)
20. The ravages of insects in the
western part of the cotton belt
~. The extremely unfavorable grow
ing season"
He adds. this has not been a cotton
year and the plant is poorly frulted all
over the cotton belt with the eXcep-
ton of Southern Texas. He says this
years crop is mainly four lock bolls,
while last years crop was mainly five
lock bolls. He also mentions the
small yield of lint from seed cotton.
In the past Mr.. DeitZs estimates of
the cotton crop have been severely
criticised at the time they were made
but when the crop was marketed, ana
the final count was known, his esti-
mates have been singularly correct.
"The State organization of the
Southern Cotton Association under
the supervision of Col. J. S. Cunning
ham. is inefficient and worthless" de-
clared Squire c.. H. Wolfe, at the
meeting of the farmers of Mecklen-
burg county held in the court house
yesterday. 81 move, therefore, that
the secretary of this association be
instructed to report the true state OF
affairs to President Harvie Jordan. of
the national association. SO that i'm
mediate action may be taken to place
the North Carolina division on a more
satisfactory basis
Such was the rather sensational
resolution passed by the farmers at
their meeting esterday.-Charlotte
Observer.
Mr.. VIM. Richardson, of Johnston
county, who was in Raleigh yesterday
has recently visited most of the coun-
ties in Eastern North Carolina. and he
says that the crops in the sections he
has visited will not be over half a
crop The best cotton | have seen
was between Vanceboro and Crimes
land" he said
The cotton crop is very short, ow-
ing to the drought, and for the same
cause we hear of great complaints
about the fall crops. Turnips, Ruta