The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1909-10-05
MILLS MAY SnUI DOWN
SERIOUS PROBLEM CONFRONTs
THE COTTON MILLS.
1t Is Claimed That They Cannot
Afford to Manufacture Thirteen
Cent Cotton.
Thirteen
Cent Cotton.

Cent Cotton.
A dispatch from Charlotte says a
critical situation and one Of rare
occurrence confronts Southern cot
ton mills because of the high price
of raw cotton and unless there is q
decided drop in the price of the sta
pie in less than two weeks, accord
ing to EX-Presideht S. 3. Tanner,
of the American Cotton Manufacture
ing Association. Southern mills will
be forced to shut down.
1T is very easy question to
answer" said Mr.. Tanner, las to
what the mills, both cloth and yarn,
will do in the event of thirteen cent
cotton continuing as at present.
1T will mean that there will be
no money in textile products and
the mills, after using up what small
stocks of cotton they have on hand,
will have to shut down-that Is If
cloth and yarn, especially the former
do not take decided jump upwards,
a bigger jump than cotton manufac-
turers would expect under the cir
cumstances.
1t was further declared that the
mills, are buying practically no raw
cotton at prevailing 1igures-13 cents
nor will they lay in stocks at
> hn rot
cotton goods and cotton yarns are
far too low to leave any profit to
the manufacturer today, in other
words the mill that MAKES yarn or
cloth out Of thirteen cent cotton and
sells its product at prevailing prices
will lose it's profit and a great deal
more-in fact the proposition Is
impracticable and will not be eXpe-
rimented in by any Of the manufac-
turers.
Many of the mills have some lit
tie cotton on hand which they stor-
ed when cotton was bringing ten
and eleven cents, but these stocks
are short and will shortly be ex-
hausted.
President Parker of the Ameri
can Cotton Manufacturers Associa-
ton has called a meeting of the board
of governors for Friday, Oct s., In
Charlotte to consider the qeustion
Of curtailment of production in or
der to make the present stock of the
mills go as far as possible and to
operate on high priced cotton at as
little loss as possible.
What Greenville Says.
A dispatch from Greenville says
much interest is felt in this section
Of the State over the meeting on
October 8, in Charlotte, N. c., Of
the board of governors of the Ameri-
can Cotton Manufacturers Associa-
ton, for the purpose of discussing
the question of curtailment by the
mills in view of the present situa-
tion Of the yarn market.
The cotton mills throughout the
country, it is said, are in peculiar
condition. The price of cotton is
high, and going higher, while that of
yarn and other cotton goods is con-
stantly growing lower. Under these
circumstances the mills cannot af-
ford to go on turning out the goods
much longer Unless there Is some
improvement in the market for yarn,
the manufacturers say many of the
mills will have to shut down.
The present situation of affairs
is very critical, and it IS said the
worst in years. Cotton Is selling at
thirteen cents, while the yarn is so
low that there is no profit for the
manufacturer. Indeed, the situation
will soon reach climax, it Is
thought, and cotton manufacturers
claim that within two weeks some
thing must be done.
The mills cannot afford to buy the
cotton at the present price, and most
of them are now running on what
they bought in when the price was
about ten and eleven cents. This
supply is rapidly being consumed,
and unless there is very decided
change in the yarn market by the
time the present supply Of raw ma
terial is used up the mills will be
placed n somewhat novel posi-
ton.
A drop in the price of cotton was
looked for by the cotton manufacture
ers, it is stated, but this expected
drop did not come, and instead, the
disproportion between the buying
price of the finished product is so
great that the mills are obliged to
take some steps. The meeting in
Charlotte on the Sth of this month
will consider his matter very care
fully, and the result and decisions
made will be anXiOusly looked for