The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1905-01-11
Jordan Tells of Cotton Scheme.

Mooticello, GA, December % 80 4
Scheme to Get Cotton is the subject
of an address which has been Issued
by President Harvie Jordan, Of the
Southern Cotton Growers Protective
Association. The address is as fol.
lows:
Since the movement TO hold spot
cotton by the farmers has taken def
mite shape, the exporters vino are
beginning already to run short are
devising various schemes TO get con-
troll OF sufficient cotton to fill their
January contracts. Recently the To-.
Gel buyers all over tho country, repre-. !,
seGSing large cotton firms, have been
ordered ~ secure the control of cotton
on the following basis. Pay the far
mers present market price and agree
to pay them in addition whatever ad-
vance there may be in the market 20
days from the date of the trade, pro-
vided the seller wi!! give the buyer
the immediate control Of the cottoo.
Another plan is to advance z cents
per pound and pay ell wayahouse
charges for sc days, provided that
the buyer can control the cotton aud
no charge for interest be made. Many
mills are borrowing cotton from far.
mers, agreeing to pay the market
price 50 davs from date aud relieve
the farmer Of storage and insurance or.
risk of holding the cotton. 4
l am informed that one buyer on
the line of the Southern railroad, be-
tween Elberton and Toccoa, has re-
GENTLY secured the control OF 1000
bales Of cotton on the above terms aud
is now filing contracts with the same
cotton and receiving from 81 TO $50.
per pound, although he got the cotton
from the farmer at cents. The same
scheme is being worked at Washing
ton, aud number Of other points in
this State.
In South Carolina understand that
| q great deal of cotton has been secur-
ed in this way. The farmers are
falling into the net and doing the
very thing which they should not do,
that of giving the buyers and the mills
possession Of the spot cotton. IL
the exporters and mills can gsssSsho
spot cotton it will be impossible to
advance the prices. It is due only tn
/ the fact that the future market has
been heavily oversold that the farmers
have the power to force the payment
Of better prices by the exporters in
the near future. January and Feb
ruary deliveries have been heavily
oversold and If the farmers will hold
tight to their cotton and refuse to
let the buyers or mills get possession
Of it prices will be forced up to q
price where the sellers are satisfied
before the buyers can fill their con-
/ tracts. Z
| It is strange that farmers will allow
themselves to be so easily taken in
by the very people who are doing all
in their power to keep the price Of
cotton down. The buyers are now
getting cotton from farmers at 7o and
delivering it to mills at 94o.
| I sounded this note Of warning some
days ago through the press and now
do it again. Make no trade with
buyers on any basis Of future settle
ments. Lend no cotton to the cotton
mills. Hold your cotton in your own
possession and surrender it to the
buyers or mills only when the price
is paid represents it's full value. The
| effort 20 hold vii! fell ;s the farmers
turn their cotton over to their enc.
mics. i!ss
1t is only due to the fact that these
buyers must have the spot cotton to
fill their contracts that they will be
compelled 20 come into the market in
iJanuazy and February and bid higher
to bring the cotton on the market.
This 10 o note Of warning that should
be needed. Harvie Soraan.
! President Southern Cotton GroWerA'
ProteotivA Assoei asiens iSs IS. IS b.