The herald and news. [volume] (Newberry S.C.) 1903-1937, 1906-11-02
PRICE OF COTTON
MUST GO HIGHER
GINNING REPORT SHOWS A
CONSIDERABLE SHORTAGE.
"Obtain Your Fixed Price, E.
D. Smiths Advice to the Farmers
Based Upon Recent Figures
Prepared by Govern
melt,

statement concerning the recent GIN
ming report made by the department
of agriculture. Mr.. Smith says that
the figures show as predicted by the
association that the crop is short
one and the farmers should obtain
IL 1-2 cent per pound for the produc,
if they will only hold their cotton. Mr..
Smith in his statement says:
"The bureaus report on ginning
makes the total amount Of cotton gin
ned up to the present 100000 bales.
South Carolina is 100000 as against
$4,000 last year. 1 think all will agree
that at least SO per cent of South
Cardinals crop was ginned up to the
18th Of October. This being true, We
will not make much over 100000 bales
of cotton. Last years crop was about
1,125,000. This will leave South Car
olina something like 100000 bales
short. Georgia, Alabama and North
Carolina all show about the same per-
centage short. Texas makes up ip
excess lacking $4,000 bales of bring
ing it up to last years ginning,
"The next ginners' report, l am
confident, will show that our conten-
tion that the crop is short, is true.
Last week and the week before the
mills and the cotton buyers gave II
cents readily for cotton. If they could
afford to buy it then at that figure,
- hot ,,,,,ol, e., Il,o
reason that they had placed their con-
tracts months ahead and could afford
to give II cents and show a hand
some profit.
"There is no reason why You, the
farmers of the South, should sacrifice
what cotton you do sell them, be.
cause somebody predicted there was
much larger crop. Demand from them
that they shall give for what you do
sell them from now on, what they
have been paying for it for the last
two or three weeks at least. Cotton
is worth today on the markets, in
view Of the price and the scarcity of
goods, IL 1-2 cents a pound. If the
farmers will just absolutely refuse to
sell it for less, this price can be OBJ
tanned for the balance Of this crop.
"Of course everything depends up
on the unanimity with which they
hold cotton. I am still convinced that
on account of the frost and storm
making anything like top crop is
impossible; that this crop will not
appreciably exceed last years and
therefore cotton is bound ultimately
to go very much higher. The world
will need 12,500,000 bales and one OF
the best posted men in the cotton
world wired me that if the crop
should turn out 100000 bales, it
would readily bring I'd. in England.
I do not think any o..e looks for IL
crop as great as 100000 bales. Let
the farmers of the country settle
this question and settle it now by ab-
solutely refusing to part with their
property, except at a value satisfac-
tory to themselves. The break in tho
market of one cent pound within
three days entailing loss of SIS II
bale compared with the labor of tho
farmer for IL months to make that
bale of cotton, is enough to arouse
him to sense Of his duty in the pre-
misses. 'To work IL months to pro,
duce that which spectators and gam
blers can take 10 per cent. from its
value in 1886 hours is enough to either
make a man quit growing cotton or
show that he is man. The world is
waiting to see whether you are men."
Mr.. Smith is now at work on tho
plans for the organization Of the man.
moth holding company which is to
buy and hold all cotton offered at less
than the agreed price. Some time ago
a full statement Of the purposes Of
this company was given in The State
and since then the association has
received many letters seeking infor-
nation about the company. Another
statement will be given the press in
n few days. III