Hattiesburg daily news. (Hattiesburg, Miss.) 1907-1908, 1908-04-21
Harvic Jordan Says Slow Buying Of
Cotton is Playing Into the
Hands Of Spectators.
EFFORT TO SHUT DOWN
HAS FAILED DISMALLY
Declares Trade Conditions Are I'M
proving, Unemployed Are Being Put
to Work, and Present LuIl Cannot
Last Long.

Atlanta. Ca, April 20.-That the
decline in the price Of spot cotton,
rather than. general trade depres-
sion, is responsible for the distress
Of mill owners throughout the coun-
try, is the view taken by President
Harvie Jordan. Of the Southern Cot
ton association. He declares that as
prices descend, the, jobbing trade
demands concessions in the price OF
yarn and fabrics. The mill find them
selves with accumulated stocks,
manufactured when cotton was high,
which they don't care to sell at prices
lower than those several months
back. Says Mr.. Jordan:
For several months prior to April
first, the spinning industry in New
England and the south was very
much disturbed. A goodly number
of mills in Massachusetts, the Caro-
ainas and Georgia we're forced to go
on short time in order to prevent the
accumulation of yarns and manufac-
tured goods which did not find ready
sale at profitable prices. General
depression in this country, following
fast upon the heels of the financial
panic, precipitated in Wall street last
October, caused a slackening up in
the buying power of the American
people. While many of the mills re-
duced their working time, number
of new mills, and old mills putting
in new machinery, have started up.
within the past two weeks we
have heard but little talk about con.
tinued curtailment, and the efforts
made in both New England and the
South to secure a general shutdown
or curtailment of all the mills for go
days have failed. The cotton mills
in this country and in Europe are
now suffering more from the recent
heavy depression in the price OF spot
cotton than in the continued slacken-
ing in trade. AS the price of spots. go
down the jobbing trade demands con-
tinued concessions in the price Of
yarns and manufactured fabrics, and
the mills find themselves in many in.
stances with accumulated stocks OF
goods, manufactured from higher
priced cotton which they do not de-
sire to sell at prices much lower than
existed a few months back.
IL ''This is probably the first time In
a long while that the cotton mill trade
appeared to be in danger of serious
disorganization by the continued de
preston in the price of spot. cotton
The spinners can bring about
change for the better by going &C
lively in the market and bidding vi
prices on spot cotton for the balance
of the remnant unsold, because they
will need every bale of spots in the
South before another crop can be
harvested. The present hand-to
mouth policy of the mills in buying
spot cotton is proving one of the bes
weapons the SPECTATORS have to ham
mer prices. Trade conditions are i'm
proving, the unemployed are agail
being put to work in the industrial
,centers of the country, and the pres
emit lull in the demand for cotton fab
RIGS cannot continue much longer. A
the spinning industry gets back o.
a normal footing the demand for spo
cotton will cause prices to advanc
> and the present rift in the clouds. wi
widen to a MONDAY brightness Q
general prosperity again" -
En- nAIfaHa