The Pickens sentinel-journal. (Pickens, S.C.) 1903-1906, 1905-03-29
Crisis in Cotton Growers Corner.


AID Of last Monday, March 18Th
presents vividly aud forcibly
the present 81 ituation with refcrepc G
to the cotton crop and the cotton
sarmers' opportunity. Following
Is tn, Herald's article, as printed
under the headline above:
In the deadlock which EXISTS
today in the cotton trade there is
presented an anomalous condition
without pr"c,tl.nt IN tho record |
of any staple commodity.
$50 firm is tho farmers 6ctermi-
ton to hold until his idea Of fair
price is met" said l. L. Fleming,
u director Of the New York Cotton
EXchang", who has just returned
from tip through tie S S,uth,
'and 50 CT sis!enL is his course
with his public avo ais on the sub
ject, that the trade is confronted
with the Abnormal situation Of n
positive enormous surplus, and yei
merchants who have contracts for
delivery to spinners fnd an actual
scarcity of ferings, and what is
boughi is ut heart breaking basis
as compared with their future
hedges.
DANGER IN COMING CONTEST,
"Should the owner Of the cotton
STE nit or find 1T practicable to Cons
tinuc for the next thirty days the
policy pursued during the last
sixty TO ninety days, We shall SEQ a
contest interesting indeed TO tho
locker on, but sure TO leave its
mark Oh some Of the participants
"The parties to the impending
fight will be the planter who OWNS
the cotton, the merchant who has
contracts with the spinner for
specified delivery, the spinner who
has not yet contracted for all his
wants aud the specnla1or who ex-
poets to profit by the discontinue
of one or the other of these lesiti-
mate forces. OF these contestants
III battle cyal the farmer stands
out as the most intt resting and
picturesque figure, flushed with the
victories accomplished during the
last two years by standing for his
price and getting 1T. His plan of
acton, openly stated, is to market
his cotton sparingly, to hold back
ono and Il half to two million bales
Of the surplus, and by reduction
of acreage and fertilizers to 90 re~
duce the next crop as to force to
and held the market around ten
cents, thereby avoiding the sacri-
flee of his surplus and making moro
net money from less cotton another
year.
MERCHANTS ARE ALARMED.
"Flnding it difficult IN December
to cover in his commitments to
advantage, and feeling assured that
the first of the year would bring
freer selling and a normal relation
between his sales and hodges, the
merchant arranged extensions Of
many contracts to January; then
as the lines were moro tightly
drawn, delive ries actually demand
ed were made, though at a loss,
and such es could be arranged
were again defererd. This policy
having been pursued again in Feb
ruary, the merchant finds himself
with a heavy accumulation of
commitments for March, the deliv-
cry Of the greater part IF which
will probably be insisted on by the
spinner without further postpone-
mont.
"He can make no plan of action,
but must buy to fill his contracts
as best he can; if the faImer fails |
to maintain his position and sells
freely the profit originally ca'cu-
lated on may be realized; if, on the
other hand, no weakening is shown,
ne must pay the price AID prob
ably stand in for n worse parity
between spots and futures than be.
fore. His lot for tho last ninety
days has been an unhappy one,
and it looks as though the end Of
his suffering is not yet.
"Ihr farmers position financial
ly is better than in years, probably
the strongest ever, and owing to