The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1905-02-01
world today needs 12,O00,0U0 bales

world todsy needs 12,000,O00 bales
of cotton and they will have it at
cost of 9 to 10 cents, If the Soutt
will Just hold on to the staple. From
Sep -mber 1, 1904 to December Is
1904 ia round numbere, about 6CO,
QUO bales went on the market and
since that time practically no cotton
has been sold, while the mills have
been running on full time and q great
many mills running day aud night
manufacturing 100000 bales pc.
month, throughout the world. Sep
tember lst, 1904, the world wac bare
of cotton, the season was a remark.
able one to gather cotton crop, the
cotton wss dry when picked ont ard
conse eqoently the mills commenced to
spin the new crop as soon as the
c,tton opened. So you will see by
Msrch the 1st that the stock will be
reduced to at least 500, 600 or 100000
bales If the South will just hold
their cotton, and before April 1st,
1905, you will see me and other cot
ton buyers coming to your housee,
iust az We did last March aud April,
asking you Whist would you take for
,oar cotton. One year ago today
cotton sold in this market at 15zs,
today it is worth 6Ic and not bale
offered. I am glad to see that the
formers have made the stand they
have and I sdvise you to stand firm
until you get at least 8 or 9 cents
IF any farmer needs money bring
their cotton to me or some other
cotton man, We will put it in ware
house and get you money on it at 8
reasonable rate OF interest for 90
days. Do this and you will keep
your cotton away from the mills
until they need the cotton ard then
they will pay you what it is worth.
The North, West and Europe puts
the price on their wheat, corn, bacon
and wares, and why should the South
not put the price on cotton. The
cotton mills in the South would be
willing to pay 9 cents today for cot
ton was it not for Wall street and
Liverpool. Cotton goods have not
declined on parity of 81 cents cot
ton. At the present price OF dry
goods the mill can pay 9 cents for
cotton and make good money. The
drop in the price of cotton was not
in my Judgment because a bumper
crop was made. 1t was nothing
more or lese, than speculation. One
yesr ago when cotton was III cents
in New York it was not because the
staple was worth that money, it WAS
because speculators took hold and
ran the price up to more than the
cotton was sctuslly worth. So it is
today speculation has put the price
be! what it cost to make the
cotton.
In ny opinion the Government
report is somewhat incorrect and l
have figured the crop for 1904
and 1905 to pan out 11,s8S,540,
eleven million, eight hundred and
eighty eight thousand, five hundred
and forty bales; except linters, which
may cum up about 250,000 bales:
Linters does not amount to much
as the lint is too short to spin sue
cesstuily and on account of the low
p,ice of cotton seed the number o1
l,nters will be cut short, from The
fact that the farmers will not sell
their seed at so or so cents per hun
dred pounds. There is today u
greater demand for cotton and cotton
goods than there has been in many
years. China, India, Great Britain
and other foreign countries are nov
creating a great demand for ou'
cotton and manufactured goods
The Fall River strike has been ami
cably settled and $4,000 operators
have gone to work. who have been idle
for six months; 36 mills with thou
sands of spindles have been idle and
are now running on full time.
The cotton acreage will no doubt
be reduced and fertilizers will not be
used as freely 80 previous years and
If the farmers will take my advice al
DO distant day they will get the
worth of their cotton.
W. Ri. Wilson.
Peak, S. C, Jan. 80, 1905.