The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1910-09-08
READ THIS MIR. FARMER.
4 Timely Letter from the J;rr,i Emil
Leaders, Pregnant with
GGrI 5Sxi,p

The coming gear, in on: on;uic".
offers TO cotton producers en- o.
portunity whici. is perhaps net ful-
ly appreciated. Hence the following.
Last season we realized the crop
to be a very short one, and fifteen
ceaCs appeared rcasora8le fig
ure to us under the circumstances.
That price, VIC may sa:. was main
tained against the combined efforts
OF the entire world, and therefore
the only reason the price did not
rule higher was the fact that the
crop then available followed the
longest one on record-14, 100000.
Accordingly, there was then very
large visible and invisible stocks
In spinners' hands, as we'll as
a large supply of manufactured
goods on spinners', jobbers' and re-
tailers' shelves.
it 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 sea-
son finds spinners, jobbers and re-
tailers 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 abb
solutely no reserve stock to fall |
back on to supply any shortage that
may develop.
The world would require a SUD-
ply Of 13,500,OOO bales minimum
this coming season to hold stocks
for this time next year in a posi- |
tion no more strained than they oc- |
cupy to-day. A crop of 12,5OO,OOO |
bales would be given away if sold |
under 16c. The world would have !
to take it all at even higher prices !
If it were held for same.
And what crop may we expect? |
Last year the States, exclusive of |
Texas and Oklahoma. produced
about 100000 bales, and there is
no reason to expect a larger yield |
from the same States this season,
especially when the crop is three
weeks late. In fact any increase
must be extremely small and on the
contrary there is a strong probable
ity that instead Of an increase there
will be decrease Texas and Ok
lahoma certainly do not indicate
over 100000, and these figures
than raised. Therefore. the total
yield indicated Is certainly not more
than from 11,500,0OO to 12,OO0,-
900 bales.
Now at the opening this year the
trade Is hovering over the market
like vulture. hoping that the pro-
ducer will rush to market his crop
as he has in seasons past, even II
he can get only 13c for 1t. In our
judgment, those who follow such a
policy will not only be robbing
themselves-they will be throwing
away the opportunity of a lifetime;
and they will also be destroying the
value Of their neighbors' property.
~ - q AhoSt-s ~ iittIc COu0tEu 10
US that eur efforts to establish a
fair price for cotton, according to
the law of supply and demand.
were neither realized nor apprecia-
ted by those interested last season.
That is now past history. but to al
low this crop to rush to market
without first warming the producers
of the costly mistakes they may
make and the advantages they stand
to realize with wisdom would not
be just to the cause we espouse.
Nor do we forget the ultimate con
sumer. He does not believe 1t, but
IL is true. that the price of raw cot
ton affects him but little. Prices
remained virtually unchanged to
him last year. In the face OF the ad-
vance recorded on, the cotton sx-
changes. and there 10 sysry rsasou