Evening star., 1911-08-23
Growers Urged to Stand Out
for Thirteen Cents.
BANKS MAY AID MOVEMENT
Representatives in Congress Plan to
Combat Bearish Movement.
SCORE spECULAToR's METHOD
Statement Expresses Opinion That
Effort Is Being Made to Break
Down the Price.

Hold cotton for l3 cents" Is the ad-
vice 20 be formally given to farmers
oYganizations by a committee consist
ing Of Senators williams of Missis-
sippi and Owen of Oklahoma and Rep
resentative Burleson of Texas. repre-
senttnr q conference OF senator's ana
representatives from seven cotton
growing states. A COMMITTEES will urge
the state banking associations to Co
operate against "the bearish movement
of the speculators.
What was referred to generally as ,ne
threatening condition OF the coSton mar
ket' was thoroughly discussed ~ meet .,ao
inSs today and last night among ths
participants were Senators Williams ano
owens, Representative Underwood OF
.Iahama. democratic leader OF the
House; Representatives Helm OF A!a
bana. Brantley and Hughes OF Ieofsia:
-Rur,eson and Beall of Texas, Garrett o,
Tennessee, Humphreys OF Mississippi ana
Small of North Carolina A numDeI VI
tharn are large cotton planters. The com
mittee issued a statement. which read:
Against Bearish Movement.
.It seemed to be the opinion OF all
that there was a preconcerted enort pe-
ing made, principally through the lhstru-
mentality of the speculative element Vi
the New York Cotton Exchange, to break
down the price of cotton. 1t was the
opinion Of all that the present statis',Ua .,sa
condition OF cotton did not Jusuiy tne
the estimate of $4,000 OOO bales was un-
justified by any facts upon wh,ch a Pre-
diction could be sanely based. anu tnat.
moreover. even IL q ffteen-miiioI.u,s Is
crop were in sight, the wora ,hs
rtili probably would fall short OF tne
wor,d's demand for cotton to the extehs
OF more than 100000 bales because .. =
the exhaustion of the present 'iSiJ.e
s,rpply OF carried-over spot COTTON, ~
other words. that with Q 15.UO.UO AmeIl,
can crop the worlds crop for 1911 wouio
sum up only .. 100000. with 14o.OV t on
SninfiIes creating an active demand 70.
IS 100000 bales. This opinion Mas ~
upon the latest ady,ess a,hs frn,aon-nroducing ff%
The statement refers to the appoint
u,ent of the committee to write. IN tne
name of thos.- present Isn,cr Is, and TO
ofIcials of other cotton farmers
yanizations. asking them 70 adSise
their local unions ana other suOoIu.
nate bodies TO advise the farmers 81
nr.IIv 40 hold their cotton for lS cents.
.nd 70 continue to demand that price
,,ntil by a convention or agIeeMen.
arrived at In some way uiHeIS. ~
.hali be suggested" the con!erenos
nvnva1aad the view tudS 40
.~s,oirrIv less than that 1ustineo oy
the existing statistical, condition.
Seek Help Of Banks.
..rn,. committee" the statement reads.
..w.s also requested to communicate IN
some way with the presidents OF .ne
several state banking associations IN 'ne
cotton states asking them to throw as
Sar ss possible their moral and financial
,,,-,ort behind the effort to counteract
,ha hearish movement Of the spectators
LIN the view Of obtaining q fair price
fnr The farmers cotton.
nYnSormation was given at the inior1na'
.on1erence that assurances would oe
Ten IA president Barrett or to soutneih
5a,,rs that ample funds from banks OUT
s.Ss ~ the south could be had through
,hs instr,Inentality of southern nnanciai
;rs,rtutions to be lent at the rate OF
nSr cent per annum to those who dio nor
w,sh 10 dispose Of their cotton at a sac
ito mon cotton warehouse statistics.
This committee subsequently met In the
oNice of Senator Williams OF Mssissipp
md concluded that the best way to carry
ont the ideas suggested and agreed upon
was 10 give this statement 10 the -As1o-
tiated Press.
1signed ROBERT S. OWEN.
John SHARP WILLIAMS,
"a. s. BURLESON.