Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1906-09-18
alistsllaneous 8eaain9.
coTToh BUYING SYNDICATE.
What the Executive Committee Did at
Hot Springs Recently.
CyoIupohfo State Saturday


tee recently held at Hot Springs. As
a result of the investigations made by
the committee and his personal OBJ
servations, Mr.. Smith is very enthu.
siastic over the outlook for the farm
ers this year and believes that the
prices will remain firm. True the
farmers Of this state have suffered
greatly, but there are shortages In
other states. In reference to the en-
dorsement Of Richard Cheatham, the
Atlanta official who was charged with
specializing with the information al
his command, Mr.. Smith admitted
that he went to the meeting preju-
diced against Cheatham. All Of the
others. however, were fully satisfied
with the evidence as It was brought
out and as result the committee de-
cided to endorse the man. 1t has not
satisfied all the members, however.
Mr.. Smith gave out a very impor-
tant statement concerning the meet
ing and the organization of syndi-
cate with capital Of $60,000,000, to
buy up all the cotton offered for less
than the fixed price. Mention was
made Of this some time ago in The
State and 1t was Mr.. Smiths own plan
which the committee adopted. Mr.
Smith urges cooperation as the only
way to win the fight and his state
ment is worth careful consideration
He says:
Mr.. Smiths Statement.
| have just returned from the meet
ing Of the executive committee at
Hot Springs, Ark, which convened
September 6, and adjourned on the
the evening of September 8.
Matters Of great importance came
up for consideration before this meet
ing and were considered deliberately
and entirely with reference to the
good that might be done to those in
terested in cotton growing in the
south and in the prosperity that has
resulted from the two years Of the
remunerative return for cotton.
The Price Fixed.
All the states were represented, and
in spite of the fact that some serious
blunders had been made, every man
was enthusiastic as to the principles
of the organization and its ultimate
power to win the fight for southern
independence in the domination of
foreign spectators and foreign capt.
tai. The committee, after due delib-
Grafton, decided to fix the dead-line,
the line below which no cotton, weak
or strong, should be sold in the south
at ten cents per pound. This was
done because of the sentiment
throughout the south that this was
the lowest possible price under exist
ing conditions as to labor, and the
increased prices Of other commodities
necessary for the growing and max
ing of the crop, that would enable
the grower to meet his obligations.
It had no reference whatever to the
present crop or any other condition.
We did not say, nor do we mean to
say, that cotton is not or will not be
worth more than this per pound, bas-
ed upon the law of supply and de-
mand. There were consumed this
year, from September 1 to September
1, 12,2OO,000 bales which brought an
average of III cents per pound;
$4,000 bales Of this amount were
taken from the crop Of 1904, which
was brought over from that year in
to the cotton year of 1s05-O6.
According to the consumption, as
reported from the mills, and the new
spindles that are added, the prospec-
tive demand from the spinning world
will be 12,5O0,000 bales for the 1906
and 1907, of the present cotton year.
| The Yield This Year.
AS to the outlook for the yield OF
the present year. we had an aggregate
of several thousand reports from diff
ferent states, taken from observations
made since September 1. These re-
ports from the several states were
read in open committee and COM
mented upon by the members Of the
executive committee and the state
presidents from several states. From
North Carolina, j. P. Allison Of Con-
cord and C. c. Moore from Charlotte
corroborated the returns from that
state which indicated from ten to fif-
teen per cent less than last year
They stated that unless the price OF
cotton exceeded ten cents per pound
the cotton growers Of their state
would suffer. From Alabama, W. H
Seymour Of Montgomery and W. F.
Vandiver Of Montgomery spoke on
the returns from their state, declar-
ing that the conditions there did not
warrant an estimate as good as last
year Of from ten to fifteen per cent
They also contended that unless the
price equalled that of last year Ala
bama would also suffer in view of the
fact of the increased cost Of produc-
ton and the enhanced value Of all
articles necessary for home consump-
ton on the farm. From Arkansas
j. w. White of Russellville, DR.. L. E.
Love Of Dardenelle and H. B. Bur-
nette Of Chickalah, declared that the
conditions in Arkansas had deterio-
rated. at the lowest calculation, twen-
ty-five per cent in the last fifteen
days prior to our meeting. They put
the maximum; yield from Arkansas al
about 100000 bales. From Louisi-
ana, Paul M. Potts Of Nachitoches
and +. L. Maxwell of Mound, corrob-
Grated the reports from the different
counties that boil weevil in the Red
river valley, excessive rains, rust and
blight made the condition in their
state but slightly increased over last
year. It must be taken into account
In reference to this state, that they
made practically a total failure last
year. From Mississippi, Walter Clark
of Clarksdale and DR.. William Woods