The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-10-19
We FACE S
Farmers Hold Cotton for
Prices Demanded.
Such is The Clarion Cry Sent Out by
Harvie Jordan, President of the
Southern Cotton Asso-
citation.

Atlanta, Ga, Oct. ia consider
able part of the new crop found its
way into the markets so long as prices
remained above 10 cents, but since the
drop below 10 cents per pound nearly
three weeks ago the producers
throughout the entire cotton belt have
called a halt and we now find the
spot situation absolutely tied up. The
port receipts have been heavy during
that time, but this has been due to
the hurrying forward of shipments
that We're purchased prior to the re-
cent depression. Very little cotton
is now being offered for sale any
where, and what is being sold is cot
ton that is largely in the hands of
negro tenants who pay but little at
tention to the price or the course of
the market. Merchants, bankers
guano dealers and others have Joined
With the planters in resisting a mar
ket which at the present time is too
low and which has been depressed bv
manipulation in speculation.
Hold for Higher Prices.
There can be but one method for
advancing the spot market and that
is for the producers to stand firm and
refuse to part with their cotton until
prices do reach satisfactory figures.
=
through its general executive commit
tee. in session at Asheville, n. c..
Sep nber 9th, after full and thor
ough investigation of the situation
from every standpoint, decided that
IL cents per pound was q reasonable
minimum price for this crop.
1hiS price can be secured by the
farmers If they will stand firmly for it.
The market for the next two months
VIII be regulated according to the ex-
tent Of the cotton that is rushed upon
the buyers by the producers 1t is
now being urged from many sections
that the people who are able to do so
get together in each county and raise
funds sufficient to buy in all the cot
ton that is forced to sale and store
it for higher prices. This is already
being done in some counties, and If
1t should become general it would
prove an important factor in adyanc-
ing the prices. "f
Meet the Emergency.
We face another crisis. and the
farmers must meet the emergency that
confronts them. Dry goods are ad-
Vancing in price, while the price of
the raw material is falling. Mills have
sold ahead from six to ten months
and they have no surplus to fall back
on, and must have the staple. The raw
cotton is in the hands of the pro-
ducers. and all they have to do to
advance prices is to sit steady in the
boat for a short time
Exporters are already getting un-
easy. Spfnners are beginning to figure
on the present action of the planters
and will soon force the hands of the
buyers for deliveries of the raw ma
terial. general tieup cannot last
long without forcing prices upward
The crop in many States is almost
gathered. 1t is all open. Many gins
are shutting down or running on half
time. Why should the producers al
low few spectators who are bear
ing the market to brighten them into
submission?
Victory is already in sight. The
Farmers union and all other farmers
organizations are agreed on the Ill
cents minimum. Stand firm yet a while
longer, and you will get it, Pay no at
tention TO big crop estimates. Pay no
attention to any advice to sell. Store
your cotton and keep it dry If you
need money, your local banks will adj
vance you 8 cents a pound on yoyr
cotton. Stand firm and don't give an
inch until the fight is won.
Yours truly,
HARVIE JORDAN,
Pres. Southern Cotton Association.