The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-05-02
COTTON MEN FORM
new COMBINATION.
Growers and Spinncrs Meet and
Unite to Control Market
and Crop.
TO DRIVE WALL STREET OUT
Speculation in Cotton Futures
Denounced Soutl, to Demand
Good Prices.
TO DRIVE WALL STREET OUT
tBy Associated Prcss.)

sf tBy Associated Prcss) 4
WASHINGTON, p. C., May 1.-THE
first international conference OF cotton
growers and cotton manufacturers began
Il two days session in this city to-day.
Represented ut the conference were
the American Cotton Manufacturers AS
ISOLATION. the national Association OF
manufacturers. the United states Cen
sus Bureau, the Department Of Agricul-
turc, the Southern Cotton Association,
the National Association OF Cotton Man
ufncturcrs fornerly the New England
Cotton Manufacturers Association), the
National Glncrs Association. the New
York and New Orleans Cotton Exchanges,
the international Federation Of Master
Cotton SINNERS and Manufacturers AS
socintions and the Farmers Educational
and Cooperative Union.
a permanent organization was effected.
4, the following officers being elected:
Prcsldent-James r. McCol, prcs''
dent OF the National Association OF
Cotton Manufacturers.
First vice. Observation-Disclosures Jor'
dam president Of the Southern Cot.
ton Association.
Second -presldcnt-R. M. Miller,
Jr., president Of tho American Cotton
Manufacturers Association.
Third Vice presidential. w. meal
lister, Of the International Federation.
observation-disclosures Che ati,an1, c.
J. n. Woodbury. and c. 8. Bryant.
Problems of Cotton Industry.
President Mccoll opened the proceed
ings By brief address In which he ex-
pressed the vitw that the meeting would
throw much light upon the problems
a. ls.I. t,s tts
country, and at the same time assist
III better Understanding among the
representatives Of the several interests.
Among these problems he enumerated the
question Of ar ample supply Of cotton
FOR the worlds needs; the stability Of
price, speculation: the better handling or
cotton; the accuracy OF government crop
reports. Mr.. McColl did not believe that
American manufacturers wanted to see
n low priced cotton that was Improbable
to the Southern growers. whom he
thought were entitled to a fair and ample
profit. At the same time he felt that
economy should be practiced and I'M
provcmcnts made In the growing of cot
ton In order that the price might be re-
Iuced without reducing the margin OF
profits.
Representative Livingston, Of Georgia.
Mr. MccColl, and said that they were
unfair to the growers Of the South. II,
he said. the manufacturers would explain
what it costs to manufacture and II they
would say that there seems TO be conn
mercial antagonism between the. spinner
and producer. the growers would show
their hands and tell within farthing
what 1t costs to make cotton. But, he
paid. IT think 1t will be hard for you
to pull that proposition out of this House
now
Move Against Wall Street.
Addressing himself to the sp!nners. Mr..
livingston said that the growers were
liberal to them, land II the Lord icts
US live and gives US a little more tlmc.
we will hold cotton back until you wan.
1t and you will buy 1t at our hands.
The growers were embarrassed IN raising
rotton. he said. "by this new Wall Street
system OF slipping down South ana Duy-
Ing large quantities of cotton ana thkins
1t to New York and holding II over me
spot market am when the friends OF ehe
South undertake to put the price up 10
q living figure they stick that cotton IN
YOUR face and the spinners wont buy.
AS q remedy he suggested that every
Legislature in the South pass Ia"
providing that Wall Street cannot 90
business in that State.
Mr.. Jordan called upon the spnners to
answer the question as to what the con-
sumption Of cotton would be for the year
1906. None of them was In Il position
10 say. j. r. Montgomery, of the Ma
tiona Association of Cotton Manufac-
1urcrs. expressed sympathy with the de-
sire OF the growers to get profit from
their product Nh Hickman, OF the
american Manufacturers Association,
raid that the question OF Alr.
Jordan could not POSSIBLY be an
Bwe1.ed because the mills consumed a
different quantity of cotton each year ac-
rording TO the sale of the goods they
were making. Messrs. AlacAlister and
Messrs. MncAlister and
Gergg, of England, entertained Il similar
view.
Afternoon Session.
The afternoon session was presided over
by Harve Jordan president Of the South |
crn Cotton Association. who addressed
tho conference on the cotton INDUSTRY !
He gave credit to The spinncrs
and manufacturers for initiating the con-
ference and said that in considering the
relations between the growers and spin
,ers, what ever affected the cotton pro- !
ductlon would react dlsastrosy upon
the spinning industry and Vice versa
The growers and splnners ho added, had
lcen strangers too long. Divided, they
have been the prey Of and have had to
submit TO the dominating and disastrous
effects of the buying ana specializing IN
fluences of the world. This unsatisfac-
tory condition, he declared, would con-
tinue so long as 1t WAS permitted
lIe asserted that the cotton growers of
Y ho SOuth woul1 hnOcafOrth Insist UpOn l