The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-11-29
HOLDING 100000 BALES.
Harvie Jordan Outlines Els Ho!;:ins
Plan and Reasons fcc Advocat-
inS It.

New Orleans, Nov 24.-"Pledses
for tying up 100000 bales Of cot
ton for 80 days Or longer are being
received at the headquarters of the
Southern Cotton Association in large
numbers, already by wire and MAIL
although the movement is but a few
days old" says President Harvie Jor-
dan of the Southern Cotton Associa-
ton. Up to Saturday, November
18th. pledges by wire to hold one
hundred thousand bales had been re-
ceived by me at the Atlanta Office It
is confidently believed that one mil
lion bales will be pledged before the
end of this week and that the whole
three million will be tied up by De-
cember 10th.
"The division officers of the differ
ent States have gone actively to work
through the cooperation of the coun-
ty officials have put out solicitors in
each county who will make a house
to house canvass reaching every in
dividual holder Of spot Gotten and
securing pledges for every bale that
can and will be held for 80 days. If
any holder objects to signing the
pledge for a fixed price of Is cents,
let him sign to hold for 80 days re-
gardless of any fixed price; the mar
ket will take care Of itself and we will
surely get our figure.
s'The public mind must be disa-
bused Of the idea advanced in some
quarters that the present effort to tie
up so large quantity Of spot cotton
is done in the interest Of speculation.
The plan is urged purely IN the in
terest Of Southern farmers who have
cotton to sell and who should receive
better prices for their holdings than
present markets, dominated by bear
ish spectators, authorize. The de-
mand for higher prices is based SOLE
ly upon the present legitimate laws
of supply, demand and consumption Of
the raw cotton. Spinners of Ameri-
can cotton amount to 100000 bales
of spot cotton per week, and if there
is no curtailment in consumption tho
demand for American cotton will
reach fifteen million bales between
September l, 1905 and September l.,
1906. These figures are based upon
practical facts. Jobbers' supplies
were never so short as at present.
were never 50 short as at present.
Mills were never SO pressed for the
entire output of their spindles and
looms as at present. The entire civ
ilized world was never before in 50
prosperous condition as now.
More than four million new spin
dies have gone into operation n Man.
chester, England, within the past
three months which will create new
demand for at least one million bales
of new cotton not heretofore existing
Consumption is unprecedented, While
supply of raw cotton is limited. The
American crop is short. The India
and Egyptian crops are short. The
price of wool is very high and scarce.
Mills are now mixing an enormous
quantity of cotton in wooden goods,
which is another important fac.or en-
larging the use Of American cotton"
Half the crop has already raen
marketed around ten cents per pound.
If three millions Of the balance IN
sold should be held and fifteen cents
demanded for it. this would hardly av-
erage the whole crop to the splnners
at y cents, and yet the working and
pricing basis Of cotton goods ali the
season has been on the cost Of raw
cotton from 121-2 to a cents PEI
pound The price Of cotton gooas
continues to advance in the face Of
the enormous demand and inability
of the worlds spinners to furnish
needed supplies. The spot and fu-
ture contract workers are being
numerically hammered by a lot Of
gamblers and spectators who are
flooding the South with press articles
and circulars lnisrepresenting ac-
tual conditions and forcing prices
lower. There is but one course for
the farmers to pursue and that is to
tie up the spots. The mills can't spin
paper contracts into cloth, they
must have the spots. The market
is being hammered on condition re-
ports, ginners reports and padded
large estimates to fool the people.
The size of the crop is immaterial,
the question for each spot holder 10
consider is, what the staple is legiti-
mately worth at the pre:ent time and
then refuse to sell it for less. Hold
vo11r cotton off a Clutted market, de-