The Washington herald., 1914-09-27
COTTON BUSINESS
Shows INCREASE
Supply of Bills Is Becoming
Larger and Exports
Improve.
HARRISON ON SITUATION
Southernis President Has Bought Sew
eral Bales and Tells of Value
Of Movement.

In banking circles considerable en-
couragement is felt over the fact that
The cotton situation has shown distinct
signs Of Improvement I'm the past few
days.
The supply OF cotton bills is increas-
ing from day to day, and further testi-
mOny 10 the change in conditions is fur
nished by the figures of exports, which
show a gradual though small increase.
and by the largely increased receipts OF
the ports
Speaking OF the situation. an official
whose bank does considerable Southern
business says:
The increased supply of cotton bills
Indicates that foreign consumers have be-
gun to buy the staple, and II is likely
that their purchase will increase from
now on. Ordinarily we telegraph or
ders to Galveston or some other port to
buy cotton bills. to arrive, but the con-
ditions are not yet sufficiently settled to
make it possible for us to do much bus
mess in that way. However, matters are
shaping in the right way. and while
there are difficulties TO be overcome, they
are by no means insurmOuntable, and
expect that the problem will be solved
In the comparatively near future"
Banking interests attach little import
ance 10 the 'buy-a-bale'' movement.
yet practical charity. 1t might he the
latter II the bales purchased came di-
reCtly from the poorest class Of cotton
raisers and the artificial price was for
the individual benefit OF those poor peO-
pie.
.. 1t will be- OF course, a great thing for
the whole country when cotton begins to
move into export on a large scale. for
as cotton is a great maker of exchange,
the deadlock in the exchange market
could not long remain unbroken after
heavy export shipments of that COM
modify were started. That the exports
will assume pretty large volume in the
near future is now the hope and belief
n the bankers who usually handle cot
on bills.
President HarrIaon'a View.
The management Of Southern Railway
Company is actively encouraging the
"Buy-a-Bale of Cotton Movement |
throughout the South. President Harri- |
son has bought bale in each cotton !
producing State trsversed by Southern |
Railway lines and has addressed the fol-
lowing letter to the principal officers of
southern Railway and allied lines, sug-
gesting that they join the movement:
II commend to your personal Consid-
Grafton the 'Buy-a-Bale OF Cotton Move
ment now active throughout the South.
While this is movement OF sentiment.
II is wholesome sentiment expressing
determination OF the Southern people TO
help themselves in time of emergency.
rather than depend on help from outside
or from the government. Fedral or State
If this movement results in marketing
10000 bales at 10 cents a pound, as is
believed to be possible, it will have a
profound effect in encouraging the small
farmers and those who give them credit
20 hold for a stable price.
An Of US derive our livelihood and
hat of our families in some measure
from cotton. and so, apart from any in
crest OF the company, every one of us
has personal interest in the cotton
market.
4 have myself bought a bale OF cot
ION in each OF the cotton-producinG
states. II you feel that you can afford
t. I recommend that you buy at least
me bale for personal account and in
luce as many as possible of your friends
to DO likewise. II will be a safe invest
ment of the money and a patriotic act in
vital emergency"
Speaking Of the cotton situation yester-
day. President Harrison said: 'There are
in my opinion. good reasons for believing
that the market for cotton will improve
While there has been a temporary let
ting up in manufacturing 1 think that
so far as this has affected mills in the /
those OF France, it has been due, in 4
large measure, to the disturbed financial
rituation and to some extent TO the diff I
nculty in getting dye stuffs. I am en-
to believe that as soon as the
financial difficulties have been straight
ened out, there will be an increased de- /
hand, not only from the mills in the .
United States. but also from those in all
parts OF Europe in which the war has :
not shut of access to the sea.
Already there are reports of increas-
ing shipments of cotton both to England
and to the Continent, and II should be
borne in mind that the war itself will
give rise to an increasing demand for '
certain lines of cotton goods. There has
been evidence of this already in orders .
for cotton duck for army uses and in !
Iuiries for large supplies Of cotton under
wear for the armies. {
The buy-a-bale of cotton movement :
will help materially to bring about bet {
ter conditions. 1t will encourage farm
FRS to hold for better prices. and will