Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-03-17

two years by standing for his price
and getting it. His plan Of action,
openly stated, Is to market his cotton
sparingly. to hold back one and half
to two million bales Of the surplus,
and by reduction Of acreage and ferti-
lizers to 80 reduce the next crop as to
force to and hold the market around
ten cents, thereby avoiding the sacri-
fee of his surplus and making more
net money from less cotton another
year.
Finding It difficult in December to
cover in his commitments to advan-
tage, and feeling assured that the first
of the year would bring freer selling
and a normal relation between his
sales and hedges, the merchant ar
ranged extensions Of many contracts
to January: then, as the lines were
more tightly drawn. deliveries actu-
ally demanded were made, though at
a loss, and such as could be arranged
were again deferred. This policy hav-
ing been pursued again in February,
the merchant finds himself with a
heavy accumulation Of commitments
for March, the delivery Of the greater
part of which will probably be insist
ed on by the spinner without further
postponement.
He can make no plan Of action,
but must buy to fill his contracts as
best he can: II the farmer falls to
maintain his position and sells freely
the profit originally calculated on may
be realized: IL, on the other hand. no
weakening Is shown, he must pay the
price and probably stand in for a
worse parity between spots and fu-
lures than before. His lot for the last
ninety days has been an unhappy one,
and It looks as though the end Of his
suffering Is not yet.
"The farmers position financially Is
better than in years, probably the
strongest ever, and owing to the gen.
eral prosperity In the south the bank
Ing facilities there are amply compe-
tent to. take care Of his surplus on
reasonable basis.
Undoubtedly the farmer himself Is
In deadly earnest and prepared for
extreme measures, not such as burn
ing his cotton, but ostracism, and
maybe worse, for the neighbor who
violates his pledge. But we must
reckon with the man who will not
bind himself, and with more concern
the backslider, who while others are
standing by slips in his cotton to fill
the demand, leaving his neighbor to
do the holding, and who, believing
others will do the reducing in acreage
and fertilizer, increases his own.
This backslider, II discovered, may
find his lines no path Of roses, but the
fear of him is possibly the greatest OBJ
stacle in the way to united action.
IAN unbiased opinion would seem
to be that neither side will win de-
cisively. The farmers plan Of a con-
crete organization is too complicated
and made up of interests too diverse
to prove entirely successful, but the
fact that though for two to three
months talk Of five cent cotton has
been thrown at him through the news
papers, circulars, private wires, etc.,
he has stood pat and not only stop
ped a decline but demanded and got
an advance, is evidence that he will
not emerge from the contest without
some measure Of success.
Every indication points to a GER
tain reduction In acreage, probably
fifteen per cent at least, and the fer
tilizer dealers are authority for the
statement that, even II wanted, 1t Is
physical impossibility Of transporta-
ton, since orders for shipment have
been so long delayed, to get more than
eighty per cent Of the quantity of fer
tilizers used last year to the farm In
time for planting"