The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-01-27
BUSINESS BETTER IN SOUTH.
REPORTS FROM ALL SECTIONS
INDICATE MUCH M
PROVEMENT,

is indicated in reports from rner-
chants, cotton factors and bankers
from all over the section. The last
month in particular, business men as
sert, has developed the recuperative
powers Of the cotton States. In all
these States cotton, which was selling
few months ago for a little more
than cents pound, now is finding
comparatively ready market at
above cents.
Since the government report Of No
Vember ], the increase Of cents a
pound in the selling price of cotton,
with the corresponding advance in
the price of cotton seed, according to
the figures and estimates of experts,
has resulted i'm net increase during
the period Of approximately $780,
100000 in the cash value of cotton.
The effect of this enhanced value, it
is stated, has been felt in every line
of business in the South.
| Conservative observers of the sit
uation say that never has there been
such a holding movement in the South
as that noted since the opening of
the present cotton season. At the
outbreak Of the European war fall
deliveries of cotton ranged from 12
to !3 cents q pound, which, with a
crop estimated at more than SIG, ,OO0,-
600 bales, forecast a season Of re-
markable activity. When the Euro
pean markets suddenly closed and the
exchanges suspended, the price alb
ruptly decreased about one-half.
When the mills entered the markets
for their usual fall supply they found
the markets closed Farmers refused
TO sell and South :rn business, which
depends SO largely upon moving Of the
cotton crop, marked time awaiting
readjustment of conditions. About De-
cember this began, owing, it is said,
TO the resumption of foreign ship
ments and the reopening of the ex-
change markets both at home and
abroad. Today through the South
the movement Of cotton from farm to
market is steadily progressing and as
a result, according to reliable reports.
the farmers are paying their debts to
the merchants for supplies, the mer-
chants are meeting their obligations
to the small banks, and they in turn
are settling their accounts with the
larger banks. The general business
tone is declared optimistic.
In a statistical statement of the
situation, H. G. Hester, secretary OF
the New Orleans cotton exchange
mentions that on November last. the
Iederal department of agriculture
figures the average price Of cotton to
producers at about $31.52 per bale,
while today the same bale is worth
about $40 more.
AT that time," Mr. Hester saws.
with the cotton exchanges practi-
cally closed, the trade for several
months had been drifting with no
fixed standard of value. Gulf State
farmers were selling at one price and
Atlantic State farmers at another.
CONSERVATION prevailed. From Au-
gust 1 to November 1, 1914. farmers
marketed 2,71s,OOO bales, or 2,323,OOO
bales less than was marketed during
the corresponding three months of
the previous year. But the figures
snow that from November 1, 1914,
to January %, 1915, 6,SO1, 900 bales
were marketed, as compared to $685.
600 bales brought into sight during
the same period last season. Thus
since the exchanges have opened the
South has marketed at advancing
value, almost 100000 bales. exceed
ing last years movement for the same
period by 1,110,0OO bales.
THE worlds visible supply of Amer
lean cotton January %, last was
l,211,O0O bales. The 1914 crop gen.
orally is estimated at 16,25O, 600 bales.
OF which 9,52O,00O have been mar
keted, leaving 6,73O,OO to be mar
ketcd. The visible supply and that
remaining to be marketed totals H.
$4,000 bales. On a basis of SO q
pale advance the increase in value
since November 1, last has been
Sll''4'o,oOO and practically all Of this
increase belongs to the South. Thus
tne South is better oft today by ap-
proXimately $12O,OOO,OOO than she
was November l, last.
1he growing confidence in cotton is
heId to be due largely to the expecta.
'lon that cotton farmers will make
themselves self-sustaining. if NOT nro-
duce surplus of food crops for sale