The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1909-11-10
WILL co HIGHER
Frank Hayae Says Fifteen Ceats IS leo
Little for Csteo
THE CROP VERY SHORT

The Big Cotton Man. Who is Ma
tive Of This State. j. OptimiSt!'
and Reviews Recent Market His
tory and Deduce> Stron: Belief
in Yet Higher Price Levels.
Mr.. Frank 3. Hayne. South Caro-.
,inian now living in New Orleans
who has labored consistently 70!
higher prices 70. cotton this season
aas outlined his reasons for saying
,ha, S:teen cents IS too little for
cotton IS follows.
When .he government bureau
report. issued on August .. showed .
condition OF 1l.S per ceat. felt con-
| viaced the crop could not possibly
reach 100000 bales. and that cot
ton was selling far below It's real
value. When the government report.
issued on Sep,embe .. showed con-
di;ion Of So. per cent. felt salts
sed that 100000 bales VAS toe
maximum possible for the crop and
at that lime received telegram from
Mr.. J. \. WisDer Of New Orleans.
asking NJ. y. P. Brown and myself
to telegraph hin n full our rte~s
oc the situation Mr.. Brown Has
absent. so ! replied to M. W!soes
BY telegraph as follows:
I've look at the s!tcatioa as col.
lows: Dtscorn;lns every favorable
condition that can arise unit! Decem-
be. /. the government report :ad.-
Gates maximum crop OF ll.2so.ooo.
and with unfavo.aele conditions
might easily be 100000 bales less.
Consumption last year. 100000.
in spite Of short time IN England
and continent With largest Ameri-
can crop ever produced the price
advanced SEQ a bale while being
marketed and the visible supply Is
far less than two years ago. With
certainty that 1880. 0ee viii .eal-
" be needed BY the country aod that
probably less than t1.500.00o VII.
De grown. an eventual advance Is
simply unavoidable. Under norma!
conditions the market should have
certainly advanced to l3 cents YES
;.rday. tu, was kept down by ID"
enormous selling OF the bear Clique.
These sellers base ;he!. action on
the supposed he!piessness OF toe
South. thinking the South VII! be
forced 10 sell IFS cotton at any price
the spinners arc willing to take i
a.. We considcr that the eonpe-
si.ioo between spioners who will
certainly require 100000 oaies
monthly will take care :tais so
called distressed cotton. X The
bankers OF the South will he!2 the
farmer TO market his cotton slowly.
we firmly believe It viii! be WORTH
IS cents in the mex: 50 days. The
weakness IN our opinion OF the
bears argument is that. although the
producer may De foolish enough TO
be willing TO s-l! his cotton far b.
low It's actual value. We hardly TANK
,ha, the spinner vii; BE- foolish
enough. when be fully realizes the
facts OF the case. no, TO start buy
:sg freely at these prices and thus
avoid the scramble for spot cotton
,ha, will surely take place some ane
during the season.
The Southern farmer has sold az
leas, a.oo0.o00 bales OF cotton oc
which he realized probably 1881
100000. j, was veey hard to con
ysnc. IN. farmer that Il cents was
no, al extreme price soc his pro
duct. but through tho efforts OF
:.w Southern men. they finally sea-
l;zcd the fac, that they we're sacr,-
ficinr their cotton. and believe toa'
AT least $50. 600. 900 moro has o,e'S
obtained for tho cotton maIks''S1
20 date than a.oald have been II II
had 40. hs-eu for the efforts o: tn:S
small co.eric Of Southern ueu.
My prediction ou Sep,er,s-,r OF
IS cents n toe oexs GO days Las 40"
come ,rue. eu, at that :.ne thought
,h,. crop would ~ from !i.sSo.e""
~ ~ 500 900 bales oos feel coz
sde,t tha, the maximum for ta'S
GRO, is l0.15O. 900 bales Tie prob
ability is that It will DC ende. TO-
500. 900 bales: and there is pos
sihi,i,y OF its not reaching 10000
600 bales. t'ude- the present coz
si-ions now feel that Is cents -
as much 200 cheap for cotton as !.
l." cents seemed 10 ME oc Sept-m Der
5.
I'm 1sos-'os. gnowc as the 'Suliy
wear. the crop vas !o.oll.oeo ea!eS
and the consumption ooly !o.oS3.-
600 bales. and last year the COZ
sumption increased 3.oi4.ooo oaies.
or ao.ie per cent The visible sup
nlv on the Is, OF September. th!r
season. pas l.I12.eo0 and on the Is:
of September. 1903. was ai'.ee"
bales o. only $1,000 bales less.
therefore in the 'Sully year. with a
visible supply on Scp;enoe OF
$1,000 bales and a crop OF ~
o1l.o0o bales. the world had ~
i s.sco0 bales o: cotton. OF Soic1
they used lo.ess.ooo bales. The
visible supply on the lss OF sep
.en,te. this yea: uas Ia :.oo'
bales. II tho crop should on!y prove
IA. 500. 900 bales. the world will oaFf
supriy OF only li.a'c.ooo oa!es
ehile las, rco- r. sc-laliv consume
in spite OF shor, time IN EuGsanc
.;l2.1s11. 900 bales. or dehcit OF !.
lSS .nn0 bales.
WHY. if ir the Sui!E year 10
cop had Only been 100000 70 ).
ooo. 900 bales. rhe situation woul'
,crre ss IL VII! pc II TIL