The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-01-14

ding, or for less if under good mid.
ding. Col. Aldrich, in speaking Of
this feature of the system, said: "W,
have been handling this business sine,
the 21st of November, 1912, beyond
the Mississippi. using scrip which
has been handled by banks in Texas,
oklahoma and Arkansas, and we have
certificates from president Of 10
banks that never at any time has any
obligation of this corporation been
turned down.
Col. Aldrich expects to visit New
berry from time to time to make
contracts for next years crops with
farmers at Is cents for the fall de-
livery Of 1914. His home is in Barn
we'll county where he farms on q
large scale.
In the course of Col. Aldrich's talk
he sad
THE Southern states Corporation
is buying cotton, or rather handling
cotton, keeping the growers in close
touch with the spinners, eliminating
all middle men. We are doing n strict
iy cash business at both ends. We
charge fee to the grower for handl-
ing his cotton to much greater advan-
tage than can be done by any indi-
vidual and at the same time we de-
liver it TO the spinner at a greater
advantage to him than he can get il
any other way. Our contract with
spinners of Germany is to deliver the
cotton. Our contracts contain no
alternative to pay n forfeit in mon
ey in the event of being short on
the commodity. We have a contract
now with a syndicate Of spinners in
Germany TO deliver them 500, 900 bales
contract have made another to de-
liver as many bales as we are able 20
deliver.
The knowledge OF some such con
ditionS between the Southern States
Corporation and the spinners Of Ger
many caused q rapid rise of cotton
lfOm the nrSt OF september from
around II cents by the middle of Oc-
tober and although the spectators Of
the Liverpool cotton exchange ana
the New York cotton exchange have
made strenuous efforts to deprcss the
price this season, as they had success
fully done in previous seasons, they
have not been able to get midd!ing
below IS cents. The New York quo
tations today quoted good middling
cotton for January and other winter
*1onths at - l-2 cents; but they can
not buy such cotton anywhere in the
South for less than 13 10 13 i-2 cents.
Our contract with producers Of cot
ton In the South. whether in ware
houses or on farms, guarantees them
Is cents for good middling and FOR
samples above and below an ade-
quate difference.
This is the first see IN when the
price of cotton has been made in the
South; and it is not only the first sea-
son--the succeeding seasons will
come in their proper rotation, provid-
ed the growers Of cotton will market
their products through the corpora
ton"
From the interview with Col. Al
drich, the key Of the situation appears
to be the ability Of the Southern states
Corporation to handle so large
quantity OF cotton at one time and t.
withdraw from the market such large
quantities. There is no doubt of the
fact that any corporation than can re-
tire million or so bales of cotton,
has, ordinarily, practica! contrc! OF
the market.
The Observer has heard several
farmers speak within the past few
days OF this new system Of mark citing
cotton-and all favorably Some
men who were talking of the matter
Friday night stated that they had
sold cotton TO Col. Aldrich for more
than actual cash than they could get
offered on the local market, and in
addition received scrip for more to be
paid in ninety days; SO that, if they
should never get the cash for the
scrip, they are still ahead.