The Snyder signal. (Snyder, Tex.) 1887-????, 1914-10-30
Mr. BAKER VISITS
COTTON CENTERS


: Having spent week In what are
called the cotton centers OF Texas. |
: have been requested to give to the
public through the Signal my obser-
v"tions relative to the cotton situa-
tion and the outlook for the future
shall say in the beginning what
was said to the farmers in Scurry
County at the beginning OF the cotton
season; that the prime reason for
the abnormally low market price Of
. the cotton at this time is due to the
panicky condition OF the farmer him
self This is undisputed by any OF
the leading cotton merchants, cotton
exporters and fnanciers In the cen
ters OF trade. The farmer started on
with stifi upper lip saying he was
going TO hold cotton so long as II
was under s cents, but his action has
proven that the cheaper cotton got,
the more he has tried to sell. Thou
sands Of farmers whose financial con
d!tlon did not compel him to sell
bale OF this seasons crop have fallen
over each other to get 6 and 6h
cents for their cotton. This condi-
tlon. together with the distressed cot
ton that could not be held has fed
the speculator and the spinner with
all they wanted at the continued de
|cllning prices and It is a common re-
mark in the cities that, 1t is shame
to take 1t. but It Is awful easy"
The press OF this week carried a
statement from an English spinnor's
agent that England would not object
to paying Q cents for American cot
ton II that was the market, and the
price Of cotton goods even justifies
a larger price than cents, since
very little decline has taken place In
the finished product It Is therefore
evident that those who Juy are per-
fectly willing and able to pay more
but why do so when they can get It
for less. II would be very poor bust
ness for any concern to pay .. s or Z
cents for cotton when the farmer
stands ready to glut the market at
cents
spinners and spectators are hand
lers Of cotton for profit, not for sym
pathy or charity True enough the
European war has very materially
curlallcd consumption and we have q
very large crop, yet with all this the
worlds markets could and would
have absorbed this entire crop at =
cents or better, II the farmer had
stood pat and refused to sell when
the price went under s cents. but
what Of the outlook now? II still
is largely with the farmer II he con-
unues 10 rush his cotton to market
and take Just what is offered, all the
cotton pools and all the reserve
banks and an the warehouses that
may be- authorized and all the legis.
lation that may be passed will not
avail 10 raise the price. but on the
other hand It may go even below be
for the buyers will not pay any more
than it takes to get the cotton. There
is big rft in the cloud that war
has cast over the market In the an !
that England viii not .
molest cotton shipped to bolligeront .
nations 10 neutral bottoms England
controls the lanes OF the seas and
the announcement that cotton may
20 even to Germany. will open up a .
market for many thousands OF bales I
that has been hitherto closed. Al 7
ready Il Is announced that ships viii
clear from American ports the neNt
few days carrying thousands OF bales
OF cotton to Germany
Those dnanciers who have been
actIve In getting the cotton pool in I
working shape say that it will soon
be ready for use. II lt is. then far
mers should avail themselves of it. .
The Federal Reserve Banks will op-
on on November 10th and il is believ-
ed that the additional credit facilities
that they will give will materially as /
slst the situation. Secretary McAdoo
saws that be will place all the avail
able government funds In these Sou
thern Reserve Banks to be used In
financing the remainder Of the crop.
So to sum the situation let us re-
ne,t that the course OF the market
will depend largely upon the action
NJ the farmer II every bale Of cot