The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-09-12
'tlFIII TlIlTY CENTS.
WAnWaoUsE COMMISSIONERS w.
/, q. olUIH URGES FARMERS
TOHOLD ON no THEIR
k..'f BALES.
MAsaes Slowly, ~ Rushing Cotton to
..Duyess y Bound TO Send Prices
sIOWUe.


guntth. oHAcs warehouse commissioner.
hsor Sssued q lettef to the farmers Of
the osate in which ne advises them
Get TO rsssh their cotton to the mar
Me- sbut 20 take advantage OF the
asate warehouse system and hold 1t
~ q bsttsr price. The commissioners
q ssavtubsd that the staple will bring
ueesIsas. tlaan thirty cents.
y. In NJ setter. Col. Smith declares
.<nat .sAsrs' ~ plenty Of money in the
sSanks ssd mat the bankers will read
~ lcqM q state warehouse receipts.
IuHd as rpissnabas rates Of interest. He
.stys e'ysar's cotton crop should be
masksasd very slowly. ~ to rush cot
IN On thA, market - rapidly ~ 1t Is
uaahsrsl and uinnsd viii lower the
4 v.4se.
.s~~1HSmsgs should zee to II that the
pt3es e eottop n kept on q parity with
Ahs Price of other agricultural prod
- A"' ny6 the letter. Measured by
Snb s>anAzsd. the market price today
sbesta - thirty cents and above: be-
1poss ths manufactures can pay thirty
'Ststs . pound for cotton. and still
nsks . faAr and reasonable profit on
Ne manrfactured goods" The letter
'es COL snish follows:
'ssxhs state warehouse system 10 now
rsaAy % -slots this ysar's crop OF
'66ssea. Farmers should At once begin
70 wafshousA their cotton % a TO
Dr6ssct themselves against every pos
idb>S lsss. The hrst piokinss (sxceps
6rSen and sin-cut cotton). constitute
ths bsst grades and should not be sold
co. 81 declining markets-a market
'sitsesd and depressed by the sale Of
-tiisesss cotton .%
"a government grader and stapler
70 now located In the ONCE Of the
'eeats warehouse commissioner and Il
1rsparsd TO grade and staple all cot.
'tsa placed on storage In any ware
house connected with the state ware
hcuss system. The custodian Of any
ysrshouss Win sample each bale as
IN ~ warShoussd ana can send the
sdmpiss 70 the state warehouse com
whatsoever. the omcisi grader and
. seapler Win do the rest: Al soon az
- balss or more are stored In any
state warehouse. q special visit to such
tarshouse can be made. The services
'.of this expert costs the farmers moth
Inc! ''fft1'1i = 4 10
''fhis years cotton crop should b.
tasrkstsd very slowly-to rush cotton
On the market a. rapidly a II IL gath
trsd ana sinned viii lower the price
sueh' = course u no longer q neces.
'sity. There 70 plenty Of money in the
bshks and the bankers readily loan
on the state warehouse receipts and
stfsasonAbie rates OF interest. Farm
.,Srs'shouid see 10 II that the price of
cotton 10 kept on q parity with the
wies Of other agricultural products.
Asasured by this standard the mar
Net price today should be thirty cents
and above. besides the manufacturer
can pay thirty cents pound for cot.
ton and sim make q fair and reason
able proft on the manufactured goods.
Ths manufacturer sells goods to be
dsfivsred In the future. he rhen buys
from the broker or the spectator the
cotton. out Of which to manufacture
these goods sold. and this cotton is
bought for future delivery. This closes
the transaction 90 far az the manu-
faetursr b concerned. The broker or
the speculator a. soon az he has en-.
tered into the agreement to furnish
the cotton needed begins at once TO
bear the market 20 as to INCREASE his
prohts on the raw cotton sold tho
manufacturer BY rushing cotton for
sale IN excess Of the markets i'm.
mediate demand. the farmer himself
depresses the price. but by holding
cotton until II is needed by the con.
sumer (the mills). the farmer can al.
wsys get . fair price. This In no
new doctrine but the economic truth
vsrinsd BY every farmers experience
Further. government statiutics show
that during the past twelve month";,
more cotton was consumed than was
produced: . The worlds consumption
was over 100000 bales. while the
worlds production was but $4,000, 900
bales. Had there not been a large
surplus handed down from the 1914
crop there would have been an actual,
ehorsase Of 100000. The govern
menrs estimate for the 1917 crop