The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1911-08-30
HOLD COTTON FOR
13 CENTS URGED
Prominent Southern Senator's Hold
Meeting and Urge Farmers to Hold
for 13 Cents.


ton for 13 cents" is the advice to be
formally given to farmers organiza
uons, by committee consisting of
senators Williams of Mississippi and
Owens of Oklahoma and Representa-
tive Burleson of Texas, representing
conference of senator's and repre
sentatives from seven cotton growing
k>States.
~ committee will urge the State
a banking association to cooperate
against the bearish mo vement of the
Spectators"
what was referred to generally as
the threatening condition of the cot
ton market was discussed at meet
nigs today and last night Among the
participants were Senator's Williams
and Owens. Representatives Under
wood of Alabama, Democratic leader
OF the house; Heflin of Alabama,
Brantley and Hughes of Georgia
Buolesn and Bealle of Texas, Gar
rett of Tennessee, Humphreys of
Mississippi and Small of North Caro-
lima. a umber of them are large
cotton planters.
Statement Issued.
The committee issued a statement,
which read:
1T seems to be the opinion of all
that there was a preconcerted effort
being made, principally through the
lhStrumentaity of the speculative
element OF the New York cotton eX-
change to break down the price OF
cotton. 1t was the opinion of all that
the present statistical condi ton of
cotton did not Justify the lowness OF
present quotations, and that the esti-
mate of 100000 bales was uniusti-
lied by any facts upon which pre-
diction could be sanely based. And
moreover, even if a 15,00O,0O0 bale
crop were in sight, the worlds sup
plies still uobably would fall short
OF the worlds demand for cotton, to
the extent of more than 100000
bales, because of the exhaustion OF
the recent visible supply of carried
over spot cotton. In other words,
witha 15,000,000 American crop the
worlds crop for 1911 would be %
100000, with 35,O0000O spindles Gre
ating a demand for 26,OO0 900 This
statement is based on latest adviccs
from Egypt, India and other cotton
producing countries"
Function OF Committee.
The statement refers to the ap-
pointment of the committee to write,
in the name of those present, a let
ter to the president of the Farmers
union and to other cotton farmers
organizations, asking them to advise
their local unions and other stbordi-
nate bodies to advise the farmers
generally to hold cotton for 13 cents.
and to continue to demand that price,
until by a convention or agreement.
arrived at in some way, a different
one shall be suggested.
The Price Fixed.
The conference expressed the view
that 13 cents was seemingly less than
justified by the existing statistical CON
dition This committee" the state
ment reads, was also requested to
communicate in some way with the
president Of the several State banking
associations in the cotton States, ask
ing them to throw as far as possible
their moral and financial support be-
hind the effort to counteract the bear
1sh movement of the spectators, with
the view Of obtaining fair price for
the farmers cotton.
Ample Funds.
information was given at the in
formal conference that assurances
would be given to President Barrett
'or to Southern banks that ample
funds from banks outside of the
South could be had through the in
'strumentality of Southern financial
institutions, to be lent at the rate of
& per cent per annum, to those who
did not wish to dispose of their cot
ton at sacrifice, upon cotton ware
house certificates. This committee
subsequently met in the Office of Sen
ator Williams of Mississippi and con
cludcd that the best way to carry ouS
the ideas suggested and agreed upon
was to give this statement to the AS
sociated Press.
(Signed)