The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1905-02-11
COTTON GOING UP.
Steady Improvement in the Tone OF the
Market-Farmers Wise in Holding
Surplus of Present Crop.
New Orleans Picayune, Feb. 4.

Surplus of Present Crop.
New Orleans Picayune. Feb. 4.
During the past week or two Their
| has been a gradual, but constant i'm
proVement in the price of cotton. Yes
terday middling sold in the loca
market at I lac, which represents /:
| considerable recovery from the loy
price of g 1 &c reached some weeks ago
Several circumstances have com
bined to bring about this beutermen
in the cotton stu alton, and as these
same influences are still at work it il
more than probable that the upward
movement is not yet spent by any
means. Probably the most potent in.
fuence of all is the demonstrate
of the ability Of the farmers to hold
back the balance of their crops. They
have been holding back now since the
commencement of December, or for
! more than two months. In former
years such thing would not have been
possible, owing to the lack of financial
| resources known to prevail among
cotton farmers, but the fine prices at
| which the crops of the past few years
have sold have made the farmers
financially independent, fact which
the holding back OF their crops for SO
long a time establishes beyond the
shadow of doubt.
The utter unbelief of the consumer
in the ability of the farmer to carry
his crop and hold it indefinitely has
led to a stubborn holding aloof of the
spinner. His agents, or merchants,
the exporters in the American ports,
finding it impossible to secure all the
cotton which spinners needed at price
deemed sufficiently low to meet his
views, transferred contracts for ship
ment from December to Janu airy, and
later from January to February, but
the stu alton, instead OF developing in
the spinners' interest, has steadily
gone against him, until he now realizes
at the farmer holds the Whip-hand
and being unable to postpone filling
his wants longer, he is in the market
to buy, and he is buying and paying
higher prices and asking for still more
cotton.
It is this revival Of the demand from
spinners to fill their pressing wants,
rendered still more pressing by having
held aloof for SO long, which is the
second important stimulating influence
back of the recent advance in prices.
Yet another incentive to the improve
ment has been the formation of the
great cotton pool and holding COM
pany. Able as the farmers have proven
themselves tobe to hold back their crop,
their position has been strengthened
by the fact that they now have assur-
ance of ample financial help, should it
develop III at help is needed. In other
words, the rallying of the merchants
and bankers to the support Of the
farmer has eliminated whatever ele-
ment of uncertainty heretofore existed
as to the ability of the farmer to hold
back his surplus Indefinitely.
AS stimulating and encour aging as
the recent advance has been to the cot
ton interests OF the south, it would be
unWise to imagine that the struggle is
over and the victory won. The adj
vance is not based upon the assump-
tion that the crop has been overesti-
mated and the consumption under
estimated. Every body is willing to
admit that more than enough cotton to
60 around was produced il 1904. The
advance is the result of a growing
conviction that the surplus Of the last
crop over and above the needs of the
world will be held off the market and
cared for, and that acreage in 1905
will be so materially reduced as to
make 1t certain that the surplus OF the
1904 crop, even should it be as large
as two million bales, Will be worked
off during the coming year, owing to
the shortage in the 1905 crop to be
artifcially brought about.
If farmers should be deceived by an
advance during the next month or two
into abandoning their resolution to
reduce acreage Is per cent, they will
quickly find that their self-sacrifce in
back their surplus will have
been in vain, and the advance will not
be sustained. The present advance is
based largely on the conviction th at
acreage will be reduced as proposed,
hence no monetary, or apparent per-
manent Improvement should be per-
mitted to alter that wise resolution OF |
the recent convention. II acreage is |
reduced largely the great surplus, |
which is now a clog to the market, will |
become a valuable asset, and the |
farmers will be amply repaid for any |
present hardship they may be put to
ln holding the cotton; whereas, if acre
age is not diminished or sufficiently
diminished, all their self-denial and
sacrifices will have been in vain.
Civil Service Examinations.
The Civil Service Commission an
1ounces the following examinations
% be held at the New Orleans custom
house. Applications may be secured