The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-11-23
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A Philadelphia knit goods mill
writes, SO says Mr.. w. H. Armstrong,
ol 1uPelO, Miss: There appear to
nave been a lot said in the newspapers
regarding the closing down of mills
owing to the higher prices Of cotton
because they cannot make a profit IN
yarns based on current prices of cot
ton. To show you how fictitious his
claim is, We know Southern mills who
are selling 26S, good quality carde
cones at 26c. The low price of his
yarn was Is Lie, when cotton was
SelIlng at 8 3-4c, an advance of 7 3-4c
per pound for the yarn. New England
splnners are selling a medium quality
OF 70 G. p. cotton yarn at 42c per
pound. This same yarn sold at 27 1-2c
per pound when cotton was selling at
8 "a to sc per pound, an advance Of
Il LIE per pound. An extra good
Quality Of c. p. yarn is selling at 45c
per pound This same yarn sold at 33
1-Sc per pound when cotton was sell
ing at 8 IL to &c per pound, an adj
vance of II i-2c per pound. After
dlgesting these figures, we fail to see
where n of these mills are losing
money by the advance in prices of cot
ton. Furthermore they are selling this
yarn at the above figures. We, our
selves, bought at these advanced
prices.
NIL. W. II 81 1Ii&LA(I1Z- JI l i3kaAD.
Miss, who offers t. lend $50 on every
bale of cotton grown in Lee county.
Mics ErSee farmers 70 hold their Get
ton for twenty tents, and in alt &C
Gfess r a hiss been widely circulated,
says
"stop. think and listen. Do you
know what you are doing? You are
flooding the world with cotton. You
are rushing cotton into the market
and selling it ten minutes after it is
ginned.
1.-The cotton States have already sold
seven million bales of a less than ten
million bale crop, in a period of two
months yhen you should have sold
that much in seven months. How do
you expect banks to pay for it espe-
cially at $75 per bale? Did you know
the ~spinners of the world were fight
ing you and hat 0 are furnishing
them ammunition to fight you with?
'Did you know there We're only
three million more bales to come on
the market?
do you know that for these three
million bales you can get 20 cents
just as easily as 10 cents if you will
wait?
What must we 10?
do not sell a bale Mr.. Farmer for
so days. Your merchant and your
banker will help you gladly.
do you know what it would mean
IL you dlQ not sell a Dale Tor oU lays !
It would stir the whole world. Every
country-England, Germany, France,
Spain, Russia, China and Japan
would be affected and buyers in these
countries would burn up the cables
trying to buy cotton.
LAS a business proposition what
would it cost you?
Where are your union warehouses?
Storage for six months can be Sc
cured for Csc per bale.
eff you have any pressing obliga-
tons go to your bank and borrow
$50 per bale and hold your cotton.
eff you do not do this cotton will
go down until you are through selling
and you have sacrificed our cotton to
the spinner and mak the name South
erner a byword and the Southern peo-
pie the laughing stock of the world.
Tag every bale you have left and
on it write 400 or 500 per bale" and
if YOU do not sell any in 60 days, there
will be 5 buyers for every bale at that
price.
"The merchants mark their goods
why not you
~ uvy%r ri 1SCCIIN NTENT, ~ ON