Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1910-05-20
Miseellaneuus Readins,
COTTON ON HIGHER BASIS.
Lewis w. Parker Tells the Mill Men to
Arranue AccordinulY.

Lewis w. Parker Tells the Mill Men to
| Arrange Accordingly.
Over 500 delegates, representing ev-
cry cotton manufacturing and produc-
ing state in the country, were gathered
in the Academy of Music at Charlotte
| last Tuesday morning when President
l.. w. Parker called the American Cot
| ton Manufacturers association togeth-
er in the city of its bi: tn. Mayor Haw-
| Rins welcomed the delegates happily
and T. H. Rennie of Pell City, Ala, res
ponded in kind. Interest in the morn
ing hinged on President Parker's an
nual address, in which he took a pro-
nounced stand against illegal specula-
ton.
Owing to a new price level in cot
ton buyers and customers must be
awakened to q realization of the
necessity of high cost of cotton goods"
This was the declaration made today
by Lewis w. Parker president of the
American Cotton Manufacturers as D
citation. in his address to the organiZa-
,tion which began its annual convention
here today. Mr.. Parker asserted that
gambling on a cotton exchange is just
as bad, in every particular, as gam
bling in any other form, and should
be prohibited by law"
He recommended the passage Of
resolutions approving the policy of the
bill now in congress known as the
Scott anti-OptiOn bill.
In speaking of the increase in the
price of cotton, Mr.. Parker said ut
must be admitted on our part that
portion at least Of the unfortunate
results of the past year is due to our
selves. Throughout last summer and
early fall manufacturers as a whole
resisted the advance of the raw ma
terial which was consequent upon the
shortage Of supply. We apparently
were slow to appreciate how short in
deed was the supply and were much
behind in this respect the speculative
element which foresaw conditions
much better than we did"
Speaking of the increased price Of
cotton, Mr.. Parker declared that cot
ton must be expected to be upon a
higher level of price than 1t had been
in times past and even the relatively
high price prevailing during the last
fall and winter and now prevailing Is
not out of proportion to other a5ri-
cultural products and to the great
mass Of manufactured articles, many Of
these having risen in value, as COM
pared with conditions of thirty years
ago, 100 per cent; whereas cotton to-
day Is not above so per cent higher
than what may be termed its normal
price in times past.
1T must therefore be recognized"
the speaker continued, that a new
price level in cotton is both proper and
necessary and that we must bend our
energies, not in tine effort to reduce
this price level, but to convince buyers
of it's necessity and propriety and Of
the necessity for consequent rise in
the price of manufactured products.
In place Of bending our energies to-
wards the depression of prices Of the
raw material, the thoughts Of all of us,
as manufacturers, should be and must
be directed towards acquainting buy
ers and customers with the conditions
affecting us, awakening in them real
ization of the necessity of a higher
cost Of cotton goods"
Mr.. Parker declared that ut is fol-
ly for any manufacturer to claim that
he Is not interested in the manipula-
ton of the cotton market or tnat he Is
not interested in the effect upon the
raw material of exchanges whose
methods tend toward the manipulation
Of the price of the raw material. There
is q relation between the price of con-
tract on the exchanges and the actual
price Of spot cotton, owing to the great
extent of those operations on the eX-
changes. Our experience in the past
has been that, with very few eXcep-
tiOns, we are not able by any means to
purchase our raw material at the price
indicated by the exchange.
THE very lives and fortunes OF too
many of our fellow men," said Mr..
Parker, "are affected by the manipua-
tinns of prices of an agricultural pro-
duct on the exchange for our govern
ment to sit idly by and see manipula-
ton in price without raising its voice
against 1t and seeking to prevent 1t.
To my mind it seems that there must
be action by the government to protect
interested parties if the exchanges VIII
not themselves regulate their contract
so as to be fair to both buyer and SELL
er and If they will not so regulate their
contracts to take mucn less, If not, in
deed. to prohibit altogether that man
ipulation of prices which we so recently
have seen it is absurdity when prizes
vary as they do on exchanges without
reference at all to the natural condl-
tions of supply and demand and With
out reference to the prevailing price OF
the actual commodity"
Following his address handsome
gold medal, expressive of the esteem
in which he is neld by the association,
was presented President Parker
The Profits of the Mines.
In magnitude and Importance the
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