The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1905-01-04
"GOLD YoUR COTTON"
Such Is the Advice Given the Farm.
ers on All Sides.

Such Is the Advice Given the Farm
ers on All Sides.
The concensus Of opinion on al
sides Is that to sell cotton at this tim
Is little short Of suicidal. This Is th
time, it is declared, for the farmers o
the south to stand frn-s,a and pa
AID not show their hand. To yield, t,
sell at this time, is to simply add t.
the panic and give the bears a still
further chance to beat down prices
1t is argued that If the crop shoul<
reach the unprecedented figures O.
l3, 900, 900 bales, not more than 10,
900, 900 bales of this will be marketed
before the decreased acreage OF 100;
is fact beyond dispute. a heavy cur
tailment Of tie acreage planted this
spring means a higher market and &
rush of spinners to secure ST. OK tol
future use. There is common sense
In this view.
The Augusta Chronicle says the be-
lief is strong among the cotton men
ct that city that the feecy staple is
already faE below it's real market val.
ue. They feel that the reaction is
bound to come. They argue that Jan;
usry contracts for expectation have al
ready been supplied and hence there
are few seekers Of cotton on the mark
ct. But there are february, March
and April contracts yet to be arrang.
ed, and factors claim that the borrow
ing scheme spectators and exp 1rters'
agents Attempted just before the holi.
days, is a proof that they fear the
consequences if forced into the mark
ct later as purchasers. The advice
from all sections Of the south is the
same, to hold c5tton. The further
advice is to the effect that throughout
the south the cotton factors and farm.
ers will hold what has not already
been marketed. It is a fact. the cot
ton men affirm, that the farmers we're
never in better condition to hold
the residue Of their crop not already
sold than now, and that not to DO so
is to give up the fight when every
thing points to ultimate success-the
whipping Of the fight.
Factors called attention to the fact
that New York financial papers ad.
nit that throughout the present
crisis cotton has been friendIess on
their exchange; "a friendless waif" is
their term, and had been umercifully
hammered down by the bulls, bent on
the freeing out Of the southern hold.
eIs Ct the goods. Uoder these condi-
tions they are not surprised that cot.
ton is as low as it is. They woader
that the slump did not continue. That
it did not they y'argue is good eviderc.
that the bulls know the staple Is fear
fully underva,ued. W. P. Brown, an
authority on cotton in New Oslsaas,
is cut in long interview along the
same line, urging the holding Of cot
ton at all hazards, and, as second
measure, a reduction Of acreage next
year. He urges trat the farmers OF
the south have the situation in hand
if they will remain quie; and hold COT
| ten.
The indications are that the advice
will be. carried out to the letter by the
people Of the South. Buyers and ex-
porters' agents report from all over
the cuntry that no spot cotton is be.
ing offered for sale. At Meridian,
Miss, factors refused to sell where
Cffers above prevailing prices were
made and the parties stood ready tc
buy In any quantities. The New York
letters and papers are loaded with
kilograms from Southern representa-.
tjvss to the effect that farmers are
determined to hold what cotton they
have and that none Is being offered
on the markets. They cannot buy.
They are not buying. The CONSENSUS
of opinion is that cotton sbolld be
neld and scsrage reduced for the next
season. 1t is the hope Of the southern
farmer. The belief is firm that the
spectators and manipulators are ir
the main responsible for the severe
S!u np Of the past few weeks, that
cotton is at least two cents below the
real market value, and that the pre-
sent crisis is precipitated by the bears
only in the hope Of breaking the hole
of the farmers on the fleecy staple ant
thus easing of The situation which
they have created.
Commissioner OF Agriculture Ste
vens OF Georgia says: The thing
for the farmers to do is to hold on t.
the cotton they have now. II the!
will only hold, and cut down the acre
age next year you will see the pric'
60 shutting up instead Of down. J.
evsry one would cultivate only ter
acres Of cotton to every plc ugh an:
produce instead OF 100000 bales
only 5,000,000, ther you would se'
the price 60 skyward In hurry. Z
man can make more money out OF
5000. .0c0 bale crop at II to Is cent
than be can out Of II, 900, 900 crol
at cents. Then by confning him
, self to ten acres Of cotton to the plo7
; it would give him an opportunity o
planting more grain, and more thing
upon which to live at home. II b
doesn't want to Go that be could ALLOW
his land to rest. II the farmers vii
see cotton bringing y cents mex
. year this time.
II am going to talk with Ccmmis
sioner Poole, of Alabama, over tn
/ telephone Friday afternoon. He /
president Of the Commissioners
Agriculture of the Southern States
My idea is to have a meeting Ia New
Orleans some time next month to dis