Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1907-10-04
SMITH Is WRATHY.

Upon the publication Of the govern
ment reports in New York Wednesday,
future contracts fell from q to 20
points, or upward Of $1.25 bale. The
alleged reason was that the decline In
condition was not as great as the trad
ers expected. The following embody-
ing the views of Mr.. E. D. Smith on
the situation is from the Columbia
State Of yesterday:
Hold your cotton"
That has ever been the advice Of Mr..
E. D. Smith. Now he adds: Keep on
holding"
When he saw yesterday morning
how the reports to the department OF
agriculture had verified the claims OF
the cotton association that the crop
was short and that the price was
ridiculously low, he was wrought up
to the boiling over pitch when he saw
| that the gamblers on Wall street were
pushing the price down and giving
| the lie to their own excuse Of the past
we must yield to the law Of sup
ply and demand"
TT Is robbery. 1t is an effort to take
the money out of the pockets Of the
people Of the south just as a pick
pocket would do" said Mr.. Smith.
They know that this is debt paying
time in the south and they think they
have us at their mercy, but we Will
give them a fight which will show
them the spirit Of the south Is yet too
proud to yield to them.
"Supply-it is short! Demand-why,
I am informed that the mills are SELL
ing their product at q price which
would be profitable II cotton were be-
| ing purchased at Is cents per pound.
".Hold your cotton That is all
that I can say to the farmers Of South
Carolina And all who will hold are
urged to let me know that they will
hold and how much they will hold. Ii
will require just few lines on a pos
tai card addressed to our office, room
$40. Skyscraper, Columbia, s. c.
1.-THE government report. both as TO
condition and number Of bales ginned,
was even more bullish than the friends
of higher prices really anticipated, 61
on condition and practically a halt
million bales less ginned to date than
last year, confirming the statement
that the crop was steadily deteriorat-
ing in condition and that there was not
and would not be as much to gin this
year as last by possibly 2,OOO,OOO paies.
This amount is about correct as the
per cent of decrease in condition
shows, and the ginners' report certain
| ly confirms this estimate.
"Yet the professionals take 1t as
Joke and proceed in the face Of these
conditions-that should warrant from
3 to cents more per pound than IL
| is bringing-to deduct q dollar bale
from the cotton now going on the
market. Every argument, all statis-
tics. the law Of supply and demand
all in favor now of higher priced cot
ton the south through her cotton or
sanizations demanding a higher price,
vet these gentlemen see fit to taunt
them with this added insult today or
a 20 point drop in the market.
| "Js Il possible that the business men
land farmers Of the south are going TO
have it proven to a certainty that the
cotton gamblers can determine what
the revenue Of the south shall be ana
what shall be the personal wages or
every individual in the south? Or VIII
they take this occasion to prove that
they are masters Of the situation?
1.-THE situation would be ludicrous
II Il did not involve so many interests
vital to the south. As said in my ar
ticle Of last week, the only possible
answer is-to stop selling cotton.
"The bankers and merchants OF the
south as well as the creditors OF the
south should cooperate now In help
ing the south to win this fight. This
is the first time when conditions were
such that we will be in the position to
prove our friends and remember them.
"Once more let me urge every man
who has cotton to report to me on a
postal card the number of bales he Is
making and how many he Will hold
from the market Reports are coming
in now. I want them as full as posi-
BILE so that I may tabulate them and
give them to the public for the benefit
| of all parties interested"