The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-09-02
Harvie Jordan "Cotton Man"
Continued from Page One.)

| ing for a better, nor from selling for
what they could get above the agree
ment IF those fellows want to push
the market up over our price, why We
| won't prevent them; what anybody
prices up is not our lookout; what
the farmers want is to keep them
| from sending it down too low.
II tell YOU" he continued, there
has never been any reason why cot
| ton should bring less than ten cents.
That is the lowest price at which /
have sold since 1900. But l have sold
it, he went on grimly "for three
cents. Along in the nineties, l went
through the mill, and I tell you
don't want r. repeat the experience. ,"
Speaking of his work throughout
the country Mr.. Jordan stated that
his efforts had been largely directed
to advising with farmers as to the
way in which to prepare themselves
to hold cotton safely and economically
Everywhere through the country they
We're building warehouses, he said, and
lessening the danger of holding for
long period and the necessity of hav-
ing to sell to save the cotton. This
year. if the necessity arose, it would
be found said he, that the farmers
were prepared to hold, that they could
shut down" and that they were finan-
cially able to weather" any storm they
might be called upon to face.
Importance OF Caring for Crop.
Referring to the great movement of
cotton in Texas and the Gulf States
during the early months of/the year
which, with the fake departmental re-
ports, had so great and injurious eff
feet on the price, Mr.. Jordan stated
p anlI in
large measure by the condition of the
cotton which had been held.
why" said he, Il have seen ii
stacked up i'm the open until IL spread
out like the waves of the sea. There
is plenty of land in Texas and the
method there was to get five acre
lot put wire fence about it and leave
a place to drive in. Then they would
fill the lot. with cotton, dumping it'll
on the ground without even a fence
rail underneath the bales. Anyone
can see what would happen to cotton
treated in that manner 1t got SO bad
they lust had to sell.
whenever l go to a place | find
| can get the best information from
the bankers. Down in Texas | fire.
uuently asked the bank men about the
loans they were making and the rate
of interest they obtained. Generally /
found that the rate was from eight
cen to twenty-five per cent. knowing
the security was ~ood, / have asked
the bankers the reason of the high
rate. Well they'll say. the security
is all right, but here comes in fellow
to borrow a thousand dollars. Tic
gives his note and we pay over the
money. The man rolls it up and sticks
il in his bootleg. Whenever he wants
money he strips a bill off the roll. All
we've got is his note, never dollar
in deposit Since he doesn't give us
any of the benefit, we give him
that which sometimes busts loose inI
my State of Georgia.
That's another thing the farmers
have got to learn in Texas, where(
they have already learned to buildl
warehouses, that the only way to GetI
help from a banker is by helping out
the bank
Impending Bull Movement.
Speaking of his New York trip, Mr.
Jordan stated that w. P. Brown,
Haynes and the rest of the New Or
leans crowd" were all there and that
the rumors of another big Bull
campaign were constantly in the ar
Theodore Price, said he, is very much
in evidence and is supposed to havel
millions of money, accumulated since
he was dead broke" = few --0""e ago
He has paid all his debts and has the
respect of the Street" Sully on the
other hand, is discredited, since while
he has monev it is in funds which he
turned over to his Wlfe
Asked directly as to the origin of
the discovery of the leak in the
Agricultural Department Mr.. Jordan
stated that he preferred not to be
quoted since the investigation was now
going on. He was also reticent as to
the suggestion made by him to the
President that Secretary Wilson should
be asked to resign, and the consequent
clash between himself and Vice-Presi- L
dent Peters.
The story of the plot and counter
plot in connection with the disclosures,
however. is interesting in the light of
the work Of Mr.. Jordan and Secretary
Cheatham in forcing the investigation
which is now going on.
"1he Woman in the Case"
According to the rumors based on
the statement of Secretary Wilson that
there was a woman at the bottom of
the case" the first hint of the scandal
came about in peculiar way There
were three men particularly involved,
one of whom was Holmes. Number
Two i'm the agreement to defraud at
the exnense of the farmers was nos
sessed Of an attractive wife, who en-