The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-04-28
Seeking to Create a Great
Cotton Trust.
he SAYS WELL FAIL
He Cannot Understand, He Says, Our
Persistence in Advocating This
Economical Suicide. Il is the
Old Spirit that Led to
Civil War.
(By the Associated Press.)

Boston, Mass. April 26.-In open
ing the annual meeting of the New
England Cotton Manufacturers here
today President Herbert r. Warmsley
expressed the opinion that the present
outlook in the cotton trade was de-
cidedly hopeful and encouraging. He
thought that the keen competition
which now exists to a greater degree
than ever before would become moA
and more intensified.
President Warmsley commended as
unreasonable the attitude of operatives
when they INSTRUCTED progress by re-
sorting to strikes with the object Of
forcing manufacturers to abandon APP
proved machinery or methods designed
to improve the product, and decrease
the cost of production. He believed
that improved machinery was impera-
tive to the success of the cotton indus
try in New England.
The PresAdent said it was necessary
to exercise the strictest economy and
the highest degree of efficiency in
every detail In order to compete with
the successful mills of the Southern
States.
The associations medal for excel
lence in papers on the condition of
the cotton industry in the South was
awarded to Henry G. Kittridge, of
Bosto n, Editor of the Textile Ameri-
can.
Theodore H. Price, of New York. adj
dressed the convention. Mr.. Price in
discussing 1.-The relationship between
the planter and the manufacturer; ats
unnecessary antagOnisms" expressed
the opinion that large proportion OF
the agricultural population of Arkan-
sas in agreeing not to sell cotton be-
low a specified price or in limiting pro-
duction was under the antitrust laws
of the State guilty of a conspiracy
to defraud.''
Theo Gets on His Ear.
81 call attention to the law" said
Mr.. Price. 'as it emphasizes the in
consistency of Southern protest against
trust exactionS while the South is to-
day largely engaged in futile en-
deavor to create one of the most OPP
pressive trusts with which the worlds
progress was ever threatened. That
this attempt will fail is foregone
conclusion. That the widely adver-
tised agreement to hold cotton for ten
cents has already come to naught as
evidenced by the quantity of cotton
being shipped daily at seven and
half cents.''
Mr. Price thought it possible that
the South which now possessed
practical monopoly of the civilized
worlds cotton production. might have
to meet African competition before
many years. "Monopolies, it is well to
bear i'm mind" continued the speaker,
"have only been successful and perma-
nent when controlled by policy the
object of which has been to expand
consumption through a reduction in
the cost of production. The South, in
the fancied security of it's monopoly
of cotton production has been en-
deavoring to increase it's profits by adj
vancing the price of it's product.
''As a man of Southern parentage
and a close student of economic pro-
gression, / have been greatly at loss
to understand the persistence of the
South i'm the advocacy of this econOmi-
cal suicide. / can only conclude that
ii is in a great measure a survival
of the same spirit that led to a war
for the maintenance of slavery. 1t
required a war that cost more than
the entire value of the slaves in dis
pute to dissipate the former fallacy:
and from the intensity of feeling
which has been aroused throughout
the South because of a decline in cot
ton to z cents a pound, an economic
struggle. which has cost the South
dearly this year and promises to cost
1t still more dearly next year. has been
precipitated. 1t is well to remind our
Southern friends that combination in
behalf of exorbitant profits has always
provoked counter combination on the
part of those whom it was sought to
mulct."
The meetings of the conference are
held in the Columbia Theatre. Tonight
a large crowd was assembled. the
house being filled to its full capacity.
Governor Heyward's Address.
Governor Hayward in welcoming