The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1909-10-20
NOT TO LOWER COTTON PRICES.
Manufacturers Took Action Rather to
Raise Price OF Cotton Goods.

Charlotte, Oct IA Especially One Of the
| city'S best known cotton manufacturers
who was present at the meeting Of the
board Of governors Of the American Cotton
Manufacturers association last Friday
which decided to inaugurate general cur.
tailment movement among the mills, was
asked yesterday as to whether or not the
manufacturers had any desire at all TIC
lower the price OF cotton. Said he
SITUATION MISUNDERSTOOD.
"a number Of people have asked me If
the object Of the manufacturers in recon.
mending curtailment was for the purpose
Of lowering the price Of cotton and some
doubtless really believe that this was the
end in view. In reply to this an glad to
state that throughout the discussion re.
garding curtailment every speaker favor.
ed higher prices for goods. Cotton manu-
facturers ale in the business OF course for
the purpose of making at least living and
they can not do 80 at present, as they have
been making more goods than the trade
consumed and this surplus, whether large
or small, has been sufficient to prevent the
prices of goods from advancing in accord
with the advance Of cotton. Manufactu-
rers are afraid to increase this surplus by
piling up goods made Of IS cent cotton un-
less they can have assurance that the far
mers will maintain this price and buy
goods on this basis. Cotton was bought on
this basis afew years ago and afew mon
lhs later the farmers were selling at $50
ana cents, causing the loss of millions OF
dollars to the mills and some Of them were
forced into bankruptcy, Consequently the
mills feel that it Is prudence to reduce the
output to the actual consumption so that
new business can be done on basis Of the
cotton whether it is 13 cents or more
DIVERSE INTERESTS,
"There are three principal outlets for
American cotton whose interests are not
identical. For example the manufacturers
of Europe want the lowest prices they can
get for the interest Of the very poor people
in the countries which they govern regard.
less of the interests Of the cotton grower
In the Northern and Eastern sections OF
our country. where they have cotton mills
they naturally want the cotton as low as
possible but they are willing. and really
want the cotton planter to make fair pro
fit on his cotton for the general good OF
the community.
PLANTERS AND sPNNERs' FRIENDS.
"In the South the cotton planter is the
manufacturers near neighbOr and often
luOtlcSlCu Will llIA UOO4 Ou OuO duu
in the cotton factory, in which case both
parties fully understand the situation
The manufactures in the South are almost
to man in favor Of high prices for cotton
when they can pay the price and make q
margin even il 1t is small one. They all
recognize that the high prices of cotton
build up this immediate section and make
q prosperous country.
IT'S UP TO THE FARMER.
"Ifcotton planters are confident that this
Is very short crop and will market 1t ju.
diciously and in addition thereto will buy
cotton goods freely and thus help to con.
sumo the surplus stock on hand, they can
easily count upon obtaining good prices
for cotton and the manufacturers will be
only too glad to run full time and aid the
planters in every way possible only desir
ing to be assu1 ed that they will not thereby
jeopardize the interests OF the mills"