The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1905-04-06
MORSE IS IN HOUSTON
Says South Has Won plauditS Of W0rlG
In Cotton fight.

The Houston Chronicle OF yester-
day SAYS.
Colonel s. r. B. Morse. former
passenger traffic manager for the
Southern Pacific, with headquarters
at Houston. and now president OF the
Southern Cotton Warehouse COM
pany, accompanied by his wife, arriv-
ed In the city this morning, on brief
visit to relatives and friends.
In general appearance Colonel
Morse has not changed an iota since
he was q resident Of Houston. some
thing more than a year ago
To meet him at the Grand Central
depot besides relatives, was a small
deputatlon OF railway officials. From
the depot to the home of Mr. and
Mrs, William D. Cleveland, Jr, he
rode tn an open carriage, and the
vehicle WAS stopped several times en-
route that friends who approached
II might shake hands with him.
Seen hy = Chronicle reporter. Col.
Morse said his visit to Houston was
purely personal Asked as to rumors
that he might again engage in rail-
way service. he said such was without
foundation and that he was contem-
plating no such step.
Relative to the Southern Cotton
Warehouse Company. of which he is
the head. he said he believed its es-
tahllshment would be completed in
detail within month or so. rs
scope will be the establishment Of
warehouses throughout the cotton
district Of the South. and the issu-
ance Of receipts for cotton In storage
tnat wiil be collateral
The South has had the greatest
Industrial lesson In it's history during
the last year. he said. I'm the face Of
an immense cotton crop and in the
Herculean efforts of spectators 10
down the price. the South has shown
its ability 10 cope with the situation
ard 10 prevent a debasing low price
! fo9 the staple The stand of the
South Ia this matter has commanded
the applause of the whole world. and
If 1t wtii make good its promise 10
decrease acreage ir viii still further
merit and receive the respect Of the
man ufaeture and Of the commercial
world in general The grower has
! tbs right 10 demand a fair price for
tue staple, and IL is IN their powef
hv concerted action 10 force 81 II ii
il not otherwise given
The growers vt the South. he
added should rise ia their might
against the present system Of grad
ing and certifiCalion OF cotton by the
New York exchange That exchange
operates wholly upon artificial
values II is gigantic gambling In
s1itution pure aud simple. and the
fluctuations ct It's quotations are not
based upon crop conditions il ss
the most Injurious and obnoxious
factor in the cotton market Of the
world Cotton itself does not figure
ia ltS operations, as 10 the New Or
leans exchanges and other eX-
changes Of the country, cot
ton buyers are not there but are In
the South You viii find them al
Savannah. al New Orleans at Hous-
ton and az other points In the cotton
territory, but not Ia New York.
There il no cotton iu New York
90 IL not wanted there. The prices.
which are always under the real
value OF the staple keep IL away. and
the gamblers wani it kept away This
condition r. generally recognized
8nd the great papers OF New York
are calling for cessation OF such
tBCt.es and demanding that Nee
York become legitimate cotton
market instead OF what 10 is The
operations of that exchange are ai
ali times antagout.tic to the cotton
interests the prices are forever bear.
ea aud HE man Nho opposes is likely
% meet his ruin. Daniel Suliy made
tho most heroic fi4bt for the reea-ul.
tt0u of legitimate cotton values 90
that exchauge but they at last sp'
him
+ Colonel Morse called atteHtion Cd
reports of the mCfErr % The great
iFUu properties ol Alabama. and gld
that such. II cousuumatcd, would ID
II msstimable value 90 tke south
Al The time be ieft NsN NoFA he re
f pert sas that the rae ger VAS assar
"a TIE iron fields ol the Soufh ara
vast and capable of suppl,iag ths
eatire worla Nlth the cheapest aud
hest ifon 10 be had This lnaGatr'
all add a companion 4ewel 90 taa
cf cotton 10 the r0wn ~ the South