Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1906-01-13
HARVEY JORDAN
MADE SPEECH
Tells of Wonderful Strides of Cot.
ton Association
DURING FIRST YEAR
Discusses at Considerable Length the
Developments of the Past Twelve
Months and Recommends
Slow Marketing.

New Orleans. Jan. 13.-After Presi-
dent Jordan had called the Southern
Cotton association to order. Rev Bever-
" Warner delivered an invocation
Former President Parker Of the New
Orleans Cotton Exchange delivered the
address OF welcome. He warned farm
ers TO beware of spectators, saying
that class are their greatest enemies.
w. L. Foster. a member of the Louis
lana "a irolammoodisisARo
lana railroad commission and a large
cotton planter. responded.
President Jordan began his address
with congratulations to the association
on its record during the first year OF
its existence. He reviewed at some
length the objects of the association
and its accomplishments. 1t came into
existence, he said. facing a 100000
bale crop. with a 1000 900 bale surplus
beyond the needs for consumption in
1905. with 100000 bales unsold and
the price at cents a pound. In the
face Of these conditions the association
ton. had demanded reduction in acre
age and had begun a fight for the main
tenance OF prices fair and equitable to
the producer. He referred TO the dis
covery of dishonest practices In the
bureau of cotton statistics In the de-
partment OF agriculture at washing
ton and the fight made by the assoc
citation for purity there. He then dis
cussed the reasons for is cent cot
ton.
1T has r~en ascertained by lnvesti-
CATION" he said. and has not yet been
denied. that the prevailing prices OF the
manufactured products this season
spinners could easily have paid II
cents for the entire crop to the growers
and paid good dividends on their In
vestments. on this basis a crop OF
100000 bales should have brought the
producers $500. 900. 900. II we demand
and received Is cents for the balance
OF the uncold portion OF the crop. mid
ding, at interior points. we will still be
unable TO average the whole crop at
II cents a pound. due to the unwar-
ranted low prices at which more than
one half Of the crop has been sold. The
proposition to hold the balance OF the
crop at a miximum figure of Is cents
therefore Is based upon sound. con-
servatiye reasoning and Is justified By
an conditions surrounding the present
legitimate laws Of demand and sup
ply.
when our cotton sold at cer.sna
pound few years ago the price y
print cloths was cents a yard or IA
cents pound for the manufactured
product, leaving 9 cents between the
purchasing price OF the ray material
and the selling prices Of the finished
fabric TO cost OF the manufacture and
declare dividends on the Investment
Print cloths are now selling at "a
cents yard. or 26k cents a pound
At an average price OF u cents a pound
for the raw cotton. the manufacturer
today has a margin OF I4K cents.
against II cents a few years ago. or a
net difference at the present time OF
81 cents. or S2e.25 a bale.
''The consumption OF American cot
ton is enormous and will continue un-
abated for many months to come There
are 100000 more spindies in active
operation now than was the case one
year ago. The present crop will not
exceed ten million commercial bales.
The crop has been practically all picked |
and ginned. The greater portion OF the |
stocks OF American cotton, 1.60O,OOO |
bales carried Sept 1. 1905. already has |
been consumed. Consumption Is go
ing on at the rate OF 1000 900 bales a |
month"
He insisted that cotton be marketed |
slowly and urged compact organiza- |
ton.