Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1910-09-02
WARNING TO PRODUCERS.
Messrs. Scales, Hayne and Brown Re
view the Situation.


To the Cotton Interests of the South:
The coming year, in our opinion Of
fers to cotton producers an opportuni-
ty which is perhaps not fully appre-
Ciated. Hence the following:
Last season we realized the crop TO
be a very short one, and Is cents
appeared a reasonable figure to us un-
der the circumstances. That price, we
may say, was maintained against the
combined efforts of the entire world
and indeed, the only reason the price
diu not rule higher was the fact that
the crop then available followed the
largest one on record-14.060,00 bales
large visible and invisible stocks in
spinners' hands, as well as a large
supply of manufactured goods on spin
ners'. iobbers' and retailers shelves.
1t would have been impossible to
maintain last seasons price If that
price had not been justified in every
particular. All interests fought the
advance strongly. so that this season
finds spinners, jobbers and retailers
with the smallest supplies known since
the war. In other words, the situation
in this respect is exactly opposite from
last year at the same date, and there
is absolutely no reserve stock to fall
back on to supply any shortage that
may develop.
The world would require a supply Of
13, 500, 900 bales minimum this coming
season to hold stocks for this time
next year in position no more
strained than they occupy today. A
crop of 12,500, 900 bales would he given
away if sold under 16c. The world
would have to take it all at even high
er prices if it were held for same.
And what crop may we expect? Last
year the states exclusive of Texas and
Oklahoma, produced about 7,5OO,OOO
bales. and there is no reason to eX-
pect a larger yield from the same
states this season, especially when the
crop is three weeks late. In fact any
increase must he extremely small, and
on the contrary there is strong
probability that instead of an increase
there fill he a decrease. Texas and
Oklahoma certainly do not indicate
over 1000, 900, and these figures also
are more likely to he reduced than
raised. Therefore. the total yield indi-
Gated is certainly not more than from
II. SOC. 900 to 100000 bales.
Now at the opening this year the
trade is lowering over the market like
vulturc. hoping that the producer
will rush to market his crop as ne mas
i'm seasons past. even if he can get only
12c. for it, In our judgment those
who follow such policy will not only
be rnbbing themselVes-they will be
throwing away the opportunity ol
lifetime: and they will also be de-
stroying the value of their neighbors'
property.
1t is a matter Of little concern to us
=, IN hllCn
price for cotton, according to the law
of supply and demand. We're neither
realized nor appreciated by thos" inter
eSted last season That is now past
history, but to allow this crop To rush
To market without first warning the
producers of the costly mistakes they
may make and the advantages they
stand To realize with wisdom would
not he Just to the cause we cspouse.
Nor do we forget the ultimate con-
sumner. He does not b"licv" it, but II
is true. that the price of raw cotton
affects him but little. Prices remain
ed virtually unchanged to him last
wear. in the face of the advance re-
corded on the cotton exchanges, ana
there is every reason To- hclicv" that
the actual consumption last year was
larger than the year previous. What
we must adjust tn is Il gradual yearly
iucrr;lS" in price Ia supply new INDUS
tries and Il growing population, the
world over. Rut this incr"as" VIII
make itself felt gradually in r"tall
prices. cotton could advan"" "n"r-
muuSly hrfnr" the appreciation would
hc felt 10y the ultimat" consumer.
Most Of tn" cost ui tn" inlSh"d pro-
duct bought 10y tn" ultimat" consumer
is accounted for in tn" many and va .
ri"d pr"r"Ss"S of manufacture, trans
shipments and r"hamdlimpS
What rules tn" pr"dtIr"r, though ~
mot the cost "f manufacture, but the
law of demand and supply, and I" nm
~" say that, in our belief. II crop "l
| / 400. 900 bales would readily 10" con-
SuImcd this season at twenty cents.
T.. 6. Scales.
Frank t. llaNn",
W. l.. Brown.
New York city, August -