The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1907-10-18
Disposing of Cotton Direct to the
Spinner.

Special to New Orleans Times-Democrat-
New York. October Z. Discussing
the resolution adopted at the Atlanta
conference yesterday, declaring that
much of the present difficulty in hand
ling cotton could be eliminated if the
growers would unanimously adopt
what is known as the warehouse sys-
tum and establish selling agencies in
the spinning districts of America and
Europe, Mr.. Geo. ". Neville, of the
firm of Weld & Neville, said that in
attempting direct selling to spinners
the Southern growers would be re-
turning to the methods Of half a cen
fury and more ago.
IF their ideas are as stated in the
press dispatches, - he said, ''they aim
to put into use d system which, 10 be
made successful, would require the
creation Of a machinery for trading,
grading and the adjustment OF differ
ences which would be ten times as
cumbersome and expensive as that
in use at the present time. The spin
ner naturally desires TO buy his cotton
at the lowest possible price, and the
grower Just as naturally desires to
sell at the highest possible price. Then
how can they get together without
the aid of an Intermediary who knows
the needs of both?
Herr Kaffier, of Vienna, is report
ed to have said to the Farmers Union,
If you planters wish to trade directly
with us, YOU must not fix the price
arbitrarily at i cents, and You must
give us better service than the meT-
chants That tells the whole story. "
Mr. Walter Hubbard formerly pres
ident of the New York Cotton Ex-
change, said The largest part of the
element of speculation has been pass
ed on to the spinner, who either sells
his goods ahead for forward delivery
without having sold the cotton or buy
ing supplies Of cotton without having
sold his goods. Ninety five per cent.
of the cotton merchants are more i'm
terested in the difference between
grades, the question of the correct
hedge, and questions of freight eT-
change and interest than of fuctua-
tions in prices a complete reversal
of the manner OF transacting business
within the past thirty-five years.
Speculation we do have and viii
have as long as the world exists, and
it will continue in every commodity
as long as time lasts and men seek
profitable remuneration by the wear
and tear of their brain Without it
the world can not move, new markets
would not be opened for the disposal
of your yarns and cloths, and new
fields for the growth Of cotton would
not be developed. The spinner does
not object to speculation so long as it
is confined to eager purchases at adj
vancing prices for his yarns; he does
object to it when many people buy
cotton because they think it should
sell at a higher price than ne is viii
ling to pay or thinks he should pay.
The planter does not object to specu-
lation when the market for cotton is
constantly advancing, but when trade
slackens production increases beyond
consumption, and spectators hold Oft
from buying, or from their point of
view endeavor to supply the spinner
in advance, then they hurI anathemas
at the cotton merchants who have
had the foresight to take advantage
of the trend of events which all had
the opportunity of doing"