The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1906-02-15

on September LIST, their requirements
would still be, III round numbers,
2,SO0.O00 bales and only l,So3,2l9
bales to draw from. There has never
been time II the history OF cotton
when the end Of each cotton season
did not show at least l ,OOO,O 900 bales In
the visible and invisible supplies. Ii
export and domestic takIngs are TO be
supplied where Is It possible to carry
over any supplies at the end OF the
present year? How is it possible to
furnish the supplies needed to meet
the present and continuous enormous
demands from the present short crop!
These figures are not juggled or NILS
leading, but are based upon cold facts.
Mr.. Shepperson in the Manufacture
ers Record of January % stated that
only 100000 new spindles had been
put Into operation in Manchester,
England, and these would only spin
Egyptian cotton. He should also
have added that 100000 additional
new spindles had been placed IN oper-
alton in Manchester, England since
last July, which would spin only
American cotton, making total OF
100000 new spindles. 1t is estimat-
ed that consumption will easily. require
100000 bales more in l9O6,
than in 1905 making an
estimated total consumption OF Amerl-
can cotton for the present year OF r.
100000 bales, if the supply can be Sc
cured. We have shown that the total
supply available from all sources will
not exceed II ,73S,049 bales, including
the reserve stocks of practically 2,OOO,-
900 bales carried over on September
Ist II anybody can work up "Bear-
lsh" showing on the facts as we find
them here presented 1t would make in
teresting reading.
The weekly takings OF American
cotton by the splnners OF the world
since the first of last September haye
averaged 252,7SS bales, or an average
Of l,0Il,l5 bales per month, indicat-
ing a consumption for the year OF
II, 133,S 1914 bales il the supplies were
available through the balance OF III
| season.
Spot holders are earnestly requested
to carefully study these figures, as upon
the statistical position of actual supply
and consumption, they must base the
value of their staple. Theodore Price
and his associates haye flooded the
press of the South with multitudinous
mistatements OF fact in order to mlslead
| he people and brlng about depression>
| the market for selfish personal gain
| md for the advantage Of the spinners
| whom it is reported that he largel!
| represents in manipulating the future
| markets. Any American who will de,
iberately set about to depress the price
| If cotton when 50 per cant. OF the crop
| goes to foreign nations Is au enemy to
The people aud to the best business
interests OF the entire Union. The
| ng fatal blow at the very foundation
If the support OF the Government.
| PRICE OF COTTON GOODS.
1t is we'll to be informed as to the
| present price of cotton goods IN order
o fully appreciate the present value OF
| pot cotton.
| have teen roundiy abused and
criticised for asking farmers to holo
he small balance OF the unsold portion
| If the present crop for fifteen cents
[ am deeply gratitied that the farmers
If the South are not among my critics,
md SO long as this is true l am in
Inherent to the howlings OF outsiders.
| haye fully covered the questions
# supply and consum ption above.
Vow let Us examine the manufacture
.rs' position as to prices. No. lC
farms are now selling and have been
or some time, at 81 cents per pound
Seven cents per pound will fully cover
be cost of manufacture and leave a
LIBERAL margin of profit On the invest
nent. On that basis the spinners OF
1arns can we'll afford to pay II cents
ior the spot cotton. If they get the
pets at | cents and sell the yarns a,
Il cents they are making Sl5 90 pei
BALE more than they are Iegitimately
entitled to and which should go into
he farmers pockets. Print cloths are
selling at 5 3 4 cents per yard, 7 yards
20 the pound, or 26 II cents pei
pound. On this basis the spinrers oil
,rint cloths have margin of S25. 0(
per bale, at cost OF II cents for the
Jaw cotton, more than they had when
cotton sold at 5 cents per pound and
print cloths at = cents per yard, al
though the spinners made good money
even in those days. The bulk of the
present crop has been sold between 6
IL and IL cents per pound
Realizing the high prices OF yarn!
and dry goods I made an effort to Sc
cure the holding back of the balance
of the crop tor Is cents, so as to aver
age the crop at as near II cents pei
pound as possible.
The information as to manufacture
mere given has been obtained by me
directly from Individual spinners who
haye given me the facts.
!, There are about 100000 bales O
} the present crop held in the South b,
farmers and local people. If all @
this cotton should be sold at Is cents
per pound we could not then averag,
the price for the whole crop as high a
t ~ cents.
challenge the spinners to show b,
facts that they coald not have paid l.
cents fer the entire crop and mad
money on their investments at tn
} present high prices tor all lines of cot
r ton goods.
l am simply fighting tor squar
deal for the growers of cotton and | j L
|, vite my critics to show wherein tn
8 position | have taken is not borne on