The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1912-01-04

4 SIS III SHO VI tS,tsI .S1yx.yszs =.
that the market has, lot 81 besnde-
! moraiized. This opinion finds
uttersaee ia,bhe felleWiag from
The eWalI Street Journal, q news
paper of recognized authority in
commercial and ianciag aHairs:
Not in many years has there
been sostsady and even q mar
ketfag of cotton as indicated by
the week-to-week sight receipts
since the full. tideof first hand
selling began TO set in. For the
week ended October Is sight re-
ceipts were 605,W bales. Two
weeks later the maximum was
reached zoe 6so0o0 bales; and
two months later sor tie week
ended December Is, the weekly
movement was asi5s next low-
est level of $4,000 bales. By
Ieontrast with earlier years, this
| is remarkable. -. .,.,,ss
An INJURY for exclamation
(brings out different views; but
the most reasonable one is that
Ishe cotton growers have fallen
on their own resources, in de-
termination to sell slowly and
Ievenly. II order not to break the
market by the heavy crop. They
have already parted with $780,
600 hales to December Is, or
somewhat more than half Of the
crop. Yet prices hold steady
| to a remarkable degree. Janu-
lary and March, when the grow
fermust decide so part WITH his
crop for next years planting
needs or must borrow to hold
are thesenly months which per-
siss il selling under s45 a bale:
# the grower restrict his acre
age to any extent, he viii be
able to hold all the more cotton
on that account. By selling
steadily from now on, he may
yet be able to command the sit
luation without the help of much
outside financing.
The cotton already marketed
includes practically all that part
of the crop that was pledged by
small farmers for supplies, the
rent cotton and the Lien"
cotton. Of tie 6, 800, $50 bales
remaining Gf for the purpose of
estimating Me assume 1900, GOO
as representing The whole pro-
duction) the greater part is in
the hands of men who are able
to hold without assistance or
] whose credit is strong. The
Wall Street Journal evidently
believes that decidedly improved
prices in the spring of 1912 ere
not at alrimprob obable and that
restriction Of acreage would give
the holder of cotton q command :
ing position. Our contemporary
lit will be noted, has said SO
much without having any sys-
tematic plan of acreage reduc-
ton in mind and since then the
Rock Hill plan has been determ-
ined upon-a plan grounded on
plain business principles that for
the first time reduces the cur
tailment Of acreage to definite
limits.
| The crop of 1904 caused a
more rapid decline in prices than
| has the crop of 1911 and about
| the present period of t lat season
prices fell below eight cents. The
culrtailment agitation did not
take form until the early spring
Of 1905 and its plans had no such
| clearcut character as that of
Irhe Rock Hill scheme. In the
4ate spring of 1905 the response
Tin. higher prices was immense
and the holders OF the staple
reaped fine profits.
The prospect is in every way
good that 1000, 900 or more bales
still in the hands of Southern
men will fetch fair prices in 1912.
COTTON PROMOTES 1LL1TERAcY
rs cotton growing the ally Of
igzsorane9 Do they go hand IN
ha1sa TIE aaestion seems pre-
posserous- the admirable
reI0sS of 1911 Of W. K. Fate;
state s. $50 W saral schools,
St is suggested e premise BE-
naasssy of the pso-
~ gy,s5.G5SSSSsco,. &Lo ~ oon&