The Kemper herald. (Scooba, Miss.) 1875-1908, 1905-03-02
CONTINUE TO
HOLD COTTON.
DO NOT LEND TT TO BUYERS
URGES PRES. JORDAN.
WILL DECREASE THE PRICE
The Proposition From Buyers to Take
The Cotton at Present Price and
Give the Farmers Benefit of any
Increase Between now and Sept.

Atlanta, Ga. According to reports
which have been received by Presi-
dent Harvie Jordan Of the Southern
Cotton Association, number OF far
mers are being appealed to by the
buyers of cotton to let them have cot
ton at the present prices and should
any advances occur between now and
next September the farmers will be
paid the additional amount on cotton
they now release.
Mr.. Jordan is out in an interview,
In which he strongly advises against
the practice of lending cotton, and
urges upon the farmers and those who
have cotton to hold on to it. He says.
"Reports are coming to me from
many sections of the south indicating
that farmers are being appealed to by
buyers and spinners to get possession
Of the spot cotton on the agreement to
pay present market prices and any
advances that may accrue between
how and September LIST. If the buyers
and spinners can get enough cotton
hnder this plan to meet the needs OF
present consumption it will be impossl-
BILE to advance prices. 1t looks like
good business proposition, but IN the
end il will prove disastrous to the
holders. All holders of spot cotton
are warned against schemes Of this
kind.
"Do not let any cotton pass into the
hands Of the buyers on any partial
trade of any kind and do not lend cot
ton or turn any of it over to the peo-
pie who must have it for spinning
purposes or filling contracts upon
which they are now short.
''Hold your cotton tight and refuse
TO deliver it on any kind of trade. 1t
will be unfair to those who are holding
and ruinous to, your own interests IN
the end. Stand pat, hold your
ground and don't give away at any
point along the line. We are sure to
win.
"It is reported to me that some OF
The mills are proposing to local hold
ers Of cotton, a proposition to take
cotton from them at present prices
and free Of storage and insurance,
provided such cotton is delivered al
the mills and any further advance
will be paid between now and Sep
tember 1st. In the meantime the
mills can proceed to spin this cotton
and to that extent will not have to go
into the market to make purchases. 1t
This plan was generally adopted there
would soon be no demand whatever
from the southern mills, which would
seriously affect the present holding
movement.
''I do not charge that southern mills
are advising this course to defeat any
advance in prices, because many OF
our mills are in favor Of higher prices,
but the effect will be the same. In
Mississippi, Louisiana, Texas and 9TH
er states exporters are actively solic-
iting cotton so | am informed under
the form of an agreement to pay pres
ent prices and any advances that may
accrue in the near future provided the
cotton is now delivered to them.
"While it is true that this PROPOSE
tion will, in some instances, relieve
the holders from interest on borrowed
money, storage and insurance, yet the
buyers will have but one object in
view and that is to get in possession
of cotton which they cannot otherwise
secure for the purpose Of relieving the
critical situation they are in-namely,
to fill the contracts they are short on.
If they succeed the price Of cotton
can be depressed by increasing the re-
ceipts and relieving the situation
which is now extremely critical for
the exporters.
"Farmers must MOI allow them
selves to get caught by these fatter-
ing propositions. | know that local
buyers and exporters are short. |
know that vessels are now standing at
the ports waiting to receive cotton
that is yet to be bought and that spin
ners are meeing and refusing to ex-
tend their contracts with the buyers
any longer. The farmers have every
encouragement for higher prices if
they will continue to stand firm and
refuse to let their cottongo out of their
possession Let there be but one an
swer to the buyers and that is: "Ten
cents at the ports or nothing!'
The Rent Question Solved.
Atlanta, Ga-One Of the greatest
problems concerning the reduction of
cotton acreage has been that of large