Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1905-07-26
rms COTTON MARKET.
Interesting Interview With Independent, Buyer
Carey Discusses Situation.
| Anderson Mail, July 14.l

s1rN lfAhN0ioOu naaiis July III.
+. Nj. Carey, well-known cotton
broker of Seneca, was in the city to-day.
Mr.. Cary is what is known as an s'inde.
pendent buyer"-tbat is, he has no con.
nection with any of the mills in the Pied
mont. He is free lance in the cotton
business. He buys cotton at any point
in this section, whenever he eau get it,
on his own account and disposes of il
wherever he can get a profit. Sometimes
he sells to exporters, or he will sell to
mills in this section whenever he can get
a profit. For this reason Mr.. Carey's
views as to the local cotton market will
be of interest, in view of the discussion
that has been going on:
Mr.. Carey said to-day that in his opin-
ion the talk OF there being combination
of cotton mills to control the market at
Anderson or at any other point in the
Piedmont is without any foundation. .It
would be impossible for the mills to keep
outside buyers from coming into the local
markets. even If they wanted to do So"
he said.
1T is simply business proposition,
and there is no reason why any body can
not understand it," he said "The mills
naturally want to get their cotton as
cheeply as possible. Anderson county
produces about one-third of the cotton
that is spun by the mills in the county.
Naturally the mills have to go outside
the county to make up the deficiency.
They place their orders with cotton
brokers for 80 much cotton, usually to
be delivered at certain price at some
future date. The broker wants the mill
his buyers into the mill section to buy
the local cotton, that being left to the
mill to buy at the prevailing price each
day. But there are scores of other cot
ton firms, who are exporters exclusively,
and they care nothing for the mill busi-
ness or for the good will of the mills If
they wanted to do 30 they would send
their buyers into this territory TO buy
cotton, and the only reason they do not
do 80 is that they could not afford to do
80. They would have to bid over the
market to get it, and they are in the busi-
ness to make money. II the mills were
not paying enough for the cotton the ex-
port buyers would be here of their own
accord, just as in former years. But
while the exporters do not send buyers
into this section any more, they are al
ways glad to furnish their daily quota
tions to responsible people. l have been
getting quotations from the exporters. as
have other business men in this section.
mol Nm, 4 4.
it to The export houses, but usually we
cannot do so.
"The mills buy the cotton when they
need it, if the price is right, aud if they
don't need it they let it alone. You will
find that when the orders placed with
the brokers have been filled the mills do
not need the cotton and are indifferent
about buying. l have seen some of the
mills in Anderson in the market and
buying all they could get, while others
of the mills were out of the market alto
gether. They simply did not need the
cotton aud let it alone.
"The mills are managed by good bust
ness men, and it is all a business propo
sition with them. They know it would
not do for them to 60 into a cut. throat
business IN order to buy their cotton, but
at the same time there is no combination
to rule the market and control the price
in the sense that some people understand.
/ ought to know, for am in competition
with them every day.
During the past few weeks l have
been able to bny good deal of cotton,
just for the reason that most of the mills
have their supply bought. But there
have been other times, for weeks and
weeks, that couldn't get bale. They
were paying more than the exporters
were paying"
Referring to the story of the alleged
combine in Greenville, Mr.. Carey said he
knew nothing of cotton conditions there,
but he thought there must be some mis-
take about it 1t would seem that if
there were any business men at all among
the merchants of Greenville they would
get the daily quotations fromthe export
ers and force the lucal merchants to pay
a fair price for the cotton, if they are not
doing so already.