The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1914-04-02
WALL STREET DISCOUNTED
Sore Because Cotton 10 Held Back.
Trying 20 oepress Market Because
Cotton 10 Being Withheld

A Texas business man who was In
New York a few days ago reports that
I wall street II sore because the South
is holding cotton. In and around the
Exchange. the spectators say that
hee South Is "butting in" holding
their cotton instead " nlrrendering
7 Il TO the spectators as heretofore.
The Cotton Exchange claims il IL
their business 10 control the cotton
crop and Ak the price.
In their efforts to force the South
10 give no its cotton, they have driv'
en- the price down by manipulation
Of contracts BY which probably no
cotton will even change hands They
have circulated big crop" reports.
but the government estimate nailed
those lies. They predicted labor
troubles in this country and IN Eng
land. among cotton mill workers, but
the mills run TRANQUILITY on. Worst
of all. for the Speculation southern
exchanges and markets have refused
10 follow New York quotations. At
some places spot cotton is quoted IN
the south as high ss 80 points above
the New York price
This Is the time to hold your cot
ton. Don't he disturbed by the jug.
Cling Of prices on the New York
Exchange Their little game does
not represent sales Of actual cotton
bales and the price they quote does
not FIX the value OF cotton. The cot
ton exchange. as At present operated
has had its day Ignore u. forget II.
The spinners are the men who con.
sumo your cotton Watch them. for
get Wall street One Of the largest
legitimate brokers in New York pre-
diets i5c. In their bulletin they state
that the world used 1890 1000 bales
Of American cotton last year That
consumed our last years crop and all
the surplus stock In November.
iqi9 there we're 300 600 more active
cotton spindles in the mills than In
November. 1919. Did the mills In.
crease their number % spindles be
canse they expect 10 spin less cot,
tom The speculator SAYS 20. Com.
mon horse-seuse tells anyone that the
mills cannot Increase their capacity
Tor the sake OF additional expense
they Increase 20 spin more cotton.
% as 20 meet the worlds needs and
IL IL greater this year than ever
before
We have a crop Of 1887 Goa bales.
which Is more than COCOON bales
less than the mills required last year
our crop il low grade It's spnnuble
value reduces rs availability by 800
- bales. Anyone who can read
knows that AZ this date. our cotton
crop this year will not supply the
needs Of the mills. Anyone knows
that a short crop means a high price
The market in the early fan weeks
stood at igc TO iic. shortcrop prices.
Bur AZ the farmers still held good
part OF the crop. the Wall street
crowd put the price down. They
want TO scare the farmer into selling
40 they may get possession Of the
N'hoie crop-put the price up ana
sell II. These men have worked this
scheme year after year. Some farm
crs "tumbied To the game this time.
and are selling their cotton. But
the majority are holding. Keep on
holdlns-in few weeks YOU can sell
at rs cents.
Things are looking good for the
southern farmer. The recent cur
rency bill will provide several region
al banks for the South. They will
hereafter supply our money instead
OF Wall street The new tariff SEIZED
ulcs viii soon begin TO be felt In
lower prices on many necessities. We
have a President and a congress- who
are active In the farmers interests.
They are also looking into the Wall
street business. and Il may we'll
tremble. As Il Is. the New York FIX.
change has done far less business
this year than for several years past