The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1907-10-09
URGES COTTON PRODUCERS TO
HOLD COTTON.
WILL GET FIFTEEN CENTS
President Says Minimum Price Must
BE the Slogan Of All-Tells Of
System Of Ware.
houses.

fOrl worth, Texas Oct. IA
letter has been issued by President
Nelll of the Farmers Union regard.
ing the condition of the cotton crop
and prices which he says should
be realized from this years crop.
President Neill gives some reasons
why the cotton grower will be able
to get 15c for cotton this year and
scores the makers of fictitious values.
The letter follows:
Fort Worth, Tex, Sept. 23.-The
condition OF the so-called cotton mar.
kot has for days and days declined
without any apparent reason so far
as the casual observer can see. This
proposition is a very serious one to
the cotton ralsers of the South and
is a menace to the business inter.
ests of the country. The daily re-
ports are to the effect that the so.
called bear is having 1t his own way,
and tumble. tumble goes the market
to the great detriment of the people
OF the South.
The market manipulations have
been going on for years without
creating much alarm. In fact, the
people have never investigated 1t
as they should. In fact don't know
anything about 1t.
The market quotations that are
given out daily to the Interior towns
is the price manufactured by the
New York Cotton Exchange. and is
a fictitious price. one that Is made
upon fictitious bids by these social
cd bears and bulls.
The people have been taught that
the bear Is a fellow located North,
that he wants cheap cotton and that
he is an enemy to the South. The
bull Is fellow that Is supposed
to be In the South; he Is repre-
sented as a fellow that wants high
cotton. And the South has been
I led to believe that he Is a friend
OF the South. These two elements
lare represented as warning with
each other. each trying to gain the
ascendency over the other. The bear
and the bull are one and the same
in fact. operating together. or separ'
ately. In order to accomplish their
purposes.
The term bear is used to fool the
people who think they want cheap
} cotton and to induce gambling on
the bear side; in fact. to catch
suckers. The term bull is used to
fool the people who think they want
high cotton and to induce gambling
on that side; in fact, to catch suck
ers on that side. Thus they ficti'
tlously bid the market up and down
For instance. when the great ma
jority OF margins are on the bear
side. the market Is bid up fictitiously
by a system OF wash sales. OFTEN
the nuctuation are so violent and
great that no man could AFFORD to
put up margins again. Then the
fellow loses out, as now the ma
jority OF the margins Is on the bull
side and the market is bid down
day by day until all those who have
put up margins will be forfeited out
Then the machine will go the other
way.
These wash sales are sudden. OF
ten violent. and sometimes rise and
fall as much as 120 points in a sin
gle day, sometimes touching both
extremes.
Manipuiat Are Serious.
These manipulations are OF seri
lous consideration, prostrating the
farmer, utterly disrupting and de
stroying the market. jeopardizing the
business interests of the country. pre-
cipitating widespread bankruptcy
causing the loss of millions OF dol
lars, taking out all competition and
actual speculation that existed In
the cotton market. Thus this gamb
ling price is telegraphed the worlC
, over "a the price OF the greatest
. commercial crop the world ever saw
I making a uniform price all over tn,
!. world and destroying all competition
! and taking out all actual specula
[ tion.
}, The violent manipulation OF tn,
cotton up and down has destroye,
I all actual speculation. The manip
;, ulation had become SO dextrous an,
/ frequent that no man could tell to
u day what the market will be tomor