The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-20
Full Time Becoming General
Among Manufacturers in
America.
SUGGESTIONS FROM SOUTH
Plans Proposed in Circular Is
sued by Atlanta Chamber
Of Commerce.

! in the cotton situation yesterday owing
to the fact that the final details OF the
syndicate plan have not yet been threshed
out. There was some rather heavy trad
} ing on the Curb" and two blocks of
December cotton. making a total OF 100
bales, were traded in at $50 for December.
| Later on the price OF S.55 was bid for
| 900 bales, but no cotton was sold.
There is a decided Improvement In the
textile situation and most OF the mills
! throughout the United States are going
on full time. Early In the week 1t was
announced that the Dominion Textile Com
! pany. the largest cotton manufacturing
/ corporation In Canada was planning to
run all its mills on full time. Night work
/ has started In some of the Southern mills
/ and most OF the spinners throughout the
Piedmont section OF Georgia and the Caro-
lnas are operating on full time.
Wholesale trade as we'll as collections
are slightly better and merchants
1 throughout the South are granting ex-
| tensions with cotton warehouse receipts
| as collateral
\ Manchester trade cable which was
made public yesterday morning says:
/ lowing to the reduction in quotations Of
| cotton sellers OF yarns and cloth are
quoting irreEularly lower prices without
stimulating business. The general posi-
ton is unaterei II Is believed that
with improved financial and transporta-
| largely direct with America for cotton"
An interesting circular has just been
| issued by the Atlanta Chamber OF Com
/ merce II Is addressed to farmers, mer-
chants. bankers and others interested in
the cotton crop In It's review OF the
general situation the circular admits that
the probable surplus due to the reduction
I'm exports Is likely TO he 100000 TO
4 00o. 200 bales. hut II takes the view that
the consumption of cotton by American
and japanese mills will be considerably
/ increased
Under such circumstances an attempt
to force cotton upon the market would
result In serious depression in prices.
II Is admitted that large sums have al
ready been advanced by merchants, bank
ers and fertilizer corporations and that
this indebtedness Is now estimated TO av-
eraEc nearly or quite a. much as the
/ value OF cotton on the present basis OF
/ prices. The only course open. the cir
cular says, Is 70 induce farmers who are
unable to pay their debts 10 satisfy their
creditors by placing cotton In warehouses;
insUrng II and giving notes to their
creditors with the warehouse receipts and
Insurance certificates attached Tho cir
Cular says:
III the notes are for not exceeding
four months. with proper warehouse re-
/ ceip's and insurance papers attached, they
Will form class Of paper. when In the
hands OF banks connected with the Ma
tional Currency Association, which will
he accepted as collateral for the ssuanc
. Of emergency currency under the Aldrich-
Nre"laud act as amended"
| The circular also brings I'D the i'm
portant point OF next Seasons crop and
says: The foregoing are means to meet
| the immediate emergency. There can be
no permanent relief except in heavy
I reduction OF next years cotton acreage.
+ a falt t. -.
/ by a campaign Of education now, fol-
/ lowed by the close and cordial coopera-
! ton OF merchants, bankers and farmers
Wh'n the time comes to make arrange
ments for planting next years crop II
AZ once and In a larce way with systA-
. matte EFFORT, the farmers associations
n" commercial bodies, the press, the mer-
chs mt, and the bankers will all use their
influence to bring about a reduction OF
next years crop, and following this when
/ tho time comes 10 pitch the crop and
/ make arrangements Tor money and sup
/ plies on which to make il the merchants
and bankers will give financial encour-
agement to a diverslfcation OF the crop
making 1t clear that they can better az
| ford 10 help the farmer who will cut down
| his cotton crop and increase his food crop
the desired reduction in tho 1915 crop
| will be effected"
I some very Interesting figures are given
. OUT regarding the warehouse capacity OF
! the South The Chamber OF Commerce
! received con replies from Georgia and
! lls from other cotton growing States
east OF the Mississippi River Ono fact
brought out by these Inquiries is that the
warehouse capacity Is from onc-thrd 10
| one-half the cotton receipts at most points
| which should he enough to meet the pres-
! ent emergency. Results were received
from 900 towns In Georgia, showing a
/ total warehouse capacity OF 1894 900
bales. The average advance per bale on
cotton has been Si4.65. In North Caro-
| lima replies from twenty-four town.
| showed warehouse capacity OF o4SO
bales, with cotton receipts OF SIC. 900 bales.
with average advance per bale on cotton
f32 73. Alabama sent results from forty
nine towns. showing warehouse capacity
~ 900 bales. Mississippi results from
twenty points showed a warehouse capac-
ity OF $4,000 bales. and in South Caro-
lima returns from twenty-three towns
showed a warehouse capacity OF 200, 600
bales with cotton receipts Of 1851 900
The committee which went 10 Wash
ington on Friday afternoon 20 consult
with the Department OF Agriculture is
expected TO give 20 the board Of managers
the results OF It's Investigations and thus
lay the basis for important changes in
tho bylaws TO conform TO tho provisions
OF the new cotton law, The report OF the
conference committee regarding the syn
dictate plan Is expected early In the com
Ing week