The herald and news. [volume] (Newberry S.C.) 1903-1937, 1908-08-25

sixty days the Brokers and Spccula-
tors will be compelled to give the
price in order to fill contracts sold DO
the spinners ahead. You can do this
by putting your cotton in bonded
! warehouses and borrowing money on
il. Money is now plentiful for lcgi-
innate purposes.
The continental mills are short Il
cotton and there is demand for ac-
thal cotton from this source, while
tH" offerings are small. 1t is getting
harder every day to buy cotton for
prompt shipment. The supply in the
American mills is not sufficient for
twenty days, if that long. The New
England mills will soon have to buy
cotton or close down. They have been
buying from hand to mouth for the
last three months. I know of one
hundred bales Of cotton sold last week
by one mill. Fifty Of this went to a
mill that was closed down, while the
the other fifty went to another mill.
These two mills had to have this cot
ton to begin work with on the 18th
inst. All the mills which have been
closed down resumed operations last
Monday. From this we assume the
true conditions must be getting bet
ter. ] hear from good authority
that all the mills in this section will
soon begin operating on full time. II
is understood that number Of mills
have sold their output ahead for scv-
cral months. All together the situa-
tion in milling circles is not as bad as
it is reported to be. Generally through
out the country the mills would he
running on full time if they could
gel cotton to spin.
Now, as to the condition Of the
growing crop. We hear il stated
from the bear side that W" will make
fourteen million bales this year. and
that cotton will decline to ri"ht
cents. This i another great bic
bluff. and it will frichtcn some pro-
, dnccrS. 1t is my honest belief, based
upon the Information at my hand.
that the crop Of last year will not
more than be duplicated. Another
shortage like last year will produce
one Of the biggest cotton panics that
th" world has ever known. and the
tails of our shirts will have To be
made shorter to give every man Il
shirt.
Crop conditions in South Carolina
are not what they were two weeks
AGO. The crop is fully 25 per cent. off.
This is dine to too much rain in June
and early in July. followed by cNccS-
Sivc heat. It is impossible now for
the plant ever to rccupcratc and
make top crop.
In Texas reports say that the crop
has been damaged in sections by too
much rain. while in other sections the
crop has been cut eff considerable
by drought and the devastation Of
the hull wccvil Texas cannot pro-
'lurr anything appr"achin" what is
, t'tiSIttlt'l 81 lllll crop.
Alabama and Mississippi both re-
port too much rain, followed by en-
ccssively hot weather, producing
rust, black rot and shedding.
Georgia reports thirty counties af-
frctcd with black rot. which is dam
a"in" the crop no little. Other see
! tinns report catcrpillarS. too much
rain. followed by excessive heat
Cotton has dctcrioratcd wonderfully
in the last ten days.
Then other cotton belt States re-
port conditions just about as bad. In
view Of this information. ii is the
height of folly for The producer and
holder Of spots To become frightened
and sell. The Farmers Union is in
the crop. and il is wisdom in the far
mrr listening 10 the union, whose in
icrr<t is identical with lis, rather
than to listen to the speculator,
whose interest it is to get your cot
ton just as cheap as possible.
The national convention Of the Far
mcrs' Union will convene September
1St for the purpose Of fixing the price
Of cotton. At that time the union
will know the exact condition Of the
crop. and will fix price in keeping
with those conditions.
IN view of these facts. 7 URGE cv-
cry man owning Il bale Of cotton to