The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1909-10-20
PRICE OF COTTON
BEING ASSAULTED BY THE GER
MAN MANUFACTURERS.
Their Claim That an Enormous
Amount Was Brought Over From
Past Year Is Denied,

Henry s. Reed, editor OF the At
lanta Cotton Journal, has issued a
statement about the alleged large
stocks of that commodity carried
over and now held in reverse. He
says:
Statements have been made rel
ative to the enormous stocks OF cot
ton carried over, etc. But the car
ry-over shown by the following hg-
ures for September /. 1898. and Sep
TENDER /. 1909. was but normal:
."Spinners stocks in Great Britain
on September |, 1903, we're 10000
bales as against 2I7,000 bales on
September /. a year ago. or an actual
shortage of $4,000 bales this year
as compared with last.
"Spinners stocks on the continent
Of Europe September l, 1909, ag-
gregated ~1,324,000 bales against l.
$4,000, September n year ago.
This Is an actual increase of 1877
900 bales, making the increase in
foreign stocks September 1, 1909,
v G September /, 1908, $4,000 bales
or enough to run the continental
mills three days. or enough to run
English mills five days. The Eng
fish mills used $4,000 bales per week
during August. 1909, and $4,000
bales during August, 1908. The
continental mills used 10000 bales
per week during August. 1903, and
1908. The total weekly consump-
ton abroad during August, 1903, was
10000 bales against $4,000 dur
Ing August, 1908" y
Bearing the Price of Cotton.
Under the above caption the Co.
lumbia State editorially discusses
the effort being made by the manu-
| racturers as follows:
Certainly intelligent and strenu.
| Gus efforts are being made to bear
| the price of cotton. Already we have
| heard that if the present prices OF
cotton are maintained that it will
| be imperative that the Southern mills
| close down-not on account Of the
Jack of cotton, be it known, but be-
! cause the high prices OF cotton leave
| no margin of profit for the manufac'
| turer of the finished goods. OF
| course it is true that high prices OF
cotton do hit the Southern mills
harder than other mills because Of
the fact that the Southern manufac-
.urers urn out as a rule the coarser
grade of goods. in which the element
Of the first cost Of cotton enters
more largely than in the finer grades
of goods. :
But now the International Confer
ence of Cotton Spinners, SO We are
told. at Frankfort, Germany. have
adopted these positive and painful
resolutions:
Whereas. all the European spin
ners have expressed the opinion that
the large visible aud invisible sup
plies of cotton, together with the
prospective favorable East Indian and
Egyptian crops, will suffice to cover
the requirements, even no%twithstand-
ing the unfavorble outlook.
Therefore. it is urgently recon-
nended in view of the unusually high
price of cotton and the unremunera-
i've selling price of goods, that the
existing restrictions must be main
tanned and extended as far as pos
sible.
Of course these resolutions may
have seen Frankfort or Wall street
and maybe both. And Of course
the information that the Egyptian
and East Indian cotton crops are
especially good will serve to alter
the tone of the American market a
whole lot-maybe. The Egyptian
and East Indian crops must have in
creased a great deal In Importance
since the last time cotton was pick
ed.
In fact and soberly. there is every
reason why cotton will hold It's pres
ent price-unless indeed it advanc-
es. The outlook Is for around an
eleven-million-bale crop. when a
Observation-Disclosures crop Is neces-
sary to keep the mills going and to
meet the demands Of the spinners.
Under these circumstances 1t Is GER
tainly reasonble and almost inevi-
table that the price Of cotton will
he maintained-or advanced. That
Is the logic of the situation and a
dozen resolutions adopted at Frank
fort can not alter this logic Of the
situation. IF the farmers hold tight
for reasonable prices, If they refuse
to be scared by resolutions aud by
reports of East Indian and Egyp.
tian cotton crops that have never re-
fore affected markets Of the world,
If they simply sit easy and rest upon
their oars, We imagine that in the
end they will get the price that the
exigencies of supply and demand eX-
ercise.
1t would certainly be interesting
to trace these Frankfort Germany
resolutions to their ultimate source.
Somehow, they have a touch to us
Of Home. Sweet Home" =