Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1907-11-01
As Seen In New York,

mercially inclined New York papers
during the past few weeks have been
quite full of interest, especially to
those who are concerned on one side or
the other of the present great struggle
over the price of cotton.
| Among the big New York papers
that come to this office are the Times,
the Commercial and the Sun, and as
we see it all of them are tremendously
interested as against the organized
farmers of the south in the present
great struggle. The Times and the
Commercial, especially, seem to be
bringing to bear all their shrewdest
ability to create a lack of confidence
as among the different sections Of the
cotton belt. This. from the Sun Of
last Tuesday. we regard as being re-
markably comprehensive and credita-
BILE, more particularly as coming from
paper Of the Suns environments:
The tightness Of money and the pre-
sumed inability Of the south to move
it's crop without the aid and assist
ance of outside capital are factors that
control sentiment to the exclusion Of
all else. Nothing else receives the
slightest attention. Spectators in the
staple in New York or a majority Of
them can see nothing but lower prices,
because they don't want to, and so
far they have been able to carry the
spectators of New Orleans and Liv-
erpool, however resistingly, with them.
The gross weight Of the professional
| hoc lnl
staple and it has slowly yielded. No
attention whatever is paid to the law
of supply and demand, but every ad-
vantage is taken Of the distress and
plight of the country's finances.
| There are a number of close obser-
vers, however, who, though they may
not be active in support OF the market
just yet, are convinced that the great
bear movement in cotton Is before long
going to get a sudden and abrupt jar.
They fail to detect any real evidences
of panic among the holders of cotton
despite colored dispatches from inter-
ested interests. They are beginning to
realize that the remarkably small re-
ceipts at southwestern points mean
something important. If the farmers
are throwing their cotton on the mar
ket, as price oppressors claim, then
certainly there isn't much cotton to
throw, If comparisons with last years
figures mean anything.
If, on the other hand. there Is as
large a crop as the exchange experts
claim then the producers must be
stronger than they have had credit for
and are still steadfast in their deter
mination to obtain better prices or
keep their property until the world has
| to have It, 1t is more than likely,
however, that the small receipts In
Texas and the southwest are due to
the fact of a short crop. There has
been no evidence of even an ordinary
holding movement in the South Attain
tic states, and it seems hardly likely
that the farmers of the other end or
the belt would consent to hold the bag
for so long.
| Rather is it probable that they have
been selling their crop In the usual
volume, in the usual way and that
their reserve is proportionately the
same as in former years. The last
government ginners' report showed a
falling off Of over 100000 bales in Tex
as alone, indicating that the light re-
ceipts at Houston and Galveston are
due to other causes than holding. One
of the largest and most reliable cotton
concerns in New York intimated this
morning that European spinners are
be- ming buyers at these prices II
this is true, it seems hardly probable
that the fact can be much longer over
looked
| Referring to the first paragraph OF
the Suns summary, we want to call
attention to the fact that for years
past, The Enquirer has been almost
alone in trying to emphasize that the
price of cotton hardly depends any
more on the supply and demand OF
that commodity than it does upon the
supply and demand of money. How
fully the financial writer on the Sun
appreciates this is made clear in his
opening paragraph.
From such information as we have
been able to gather, we do not think
the Sun is fair in stating that there
has been no evidence of even an ordi-
nary holding movement in the South
Atlantic states. 1t is true that the or
lganized campaign of last summer,
whereby large quantities of cotton
were bought from the farmers for fu-
ture delivery did much to weaken this
portion of this particular section; but
we believe it also true that although
prices are now lower than were paid
last summer for future delivery, 1t
would be difficult to buy in this section
Inow as much cotton as was bought
then. even at the prices that were paid
at that time.
| But it is in the second paragraph OF
the Suns summary that we find the
most significant encouragement Tor
the southern farmers. Notwithstand-
ling the fact that New York has been
able to bring about a financial squeeze
that is calculated to make things look
bright for the bears, it does not follow
that the low price people are yet COM
pletely victorious. Europe has some
thing to say about this situation.
There is no panic" on the other side,
and neither is there enough cotton 10
Hast more than a month or two. Ell
forts to create an impression to the
contrary. Notwithstanding. the condi-
tion of the cotton trade is far too sat
isfactory to even suggest the idea OF
a general closing down of the mills,
and there are many things to indicate
that if the farmers only stand firm in
their holding movement, "the bear
movement is. before long. going to get
q sudden jar"
- John Smalls. colored. was killed by
Deputy Sheriff Limehouse at ST
George. Monday afternoon, while re-
Sisting arrest
- Columbia. October 30: Rev. DR.. S.
H Zimmerman, financial agent of the
South Carolina Methodist Girls Col
lege at Columbia, and statistical Sec
retary of the South Carolina confer
ence. died early this morning at his
home on Elmwood avenue after a pro-
| fra cte1 illness from tVDhOid fever, in