Arizona republican., 1918-11-24

who might accept those opinions, and
occasionally sell at a loss. There is a
popular impression that I'VE insiders
not only know what is doing but that
we can forecast the future. That is
wrong. Were 1 able, personally, to fore
see the market with certainty, [ could
stay at home and become a millionaire
this season in the Salt River Valley,
simply by using my telephone.
l am, however, willing to say this ana
in doing so. L express merely my own
opinion. l believe there will be a mar
ket for every pound of extra staple
cotton in the United States today eth
er in storage or yet in the field. l be-
| leve that this market will return a fair
profit. to very grower who has chosen
the proper land on which to grow his
crop and has efficiently farmed that
land
| Without going into statistics on the
| subject, / will simply say that the cot
ton in storage and that in sight from
the present crop q refer now to the
United States only, is less than the
consumption of last year.
| During the past eight or ten months
| consumption of extra staple has been
greatly decreased because of restrict
ing manufacturing conditions induced
war is over, we shall gradually return
to a peace basis, but how rapidly that
transition will take place, no one can
now fOrsee.
Many well qualified men hold oppo-
site opinions What the present mar
ket signifies to me, both short and eX-
| ira staple, is not a firm conviction OF
any kind on the part of the Splnners
and buyers but rather the utter lack of
conviction of what lies beyond the fog
of events that has suddenly rolled up to
obscure the future Even so, | believe
that if growers are properly financed;
if they choose the right land and farm
it efficiently, and if we shut our minds
! absolutely against any thOght or snort
staple, then the long staple industry in
this valley has a bright and profitable
future ahead of it. If the Goodyear Tire
and Rubber Company was not firm in
this conviction, it never would have put
millions of dollars in fixed capital In
vestment into this valley.
l wish to reiterate a statement l
made in the papers nearly TWO years
ago, to the effect that if property own
ers and realty agents insist on capital
izing the future on the basis of an alb
normal present, then some one is rldlns
for fall. The Southwest Cotton Com
pany owns about $4,000 acres in this
valley. If there were any sound basis
for the rise, We would be very happy to
see all of that property intrinsically
double in value, but if this valley is 60
ing to stay in cotton, in measuring the
value of cotton land, we must average
all conditions over a period OF years
land not capitalize the future on the
basis of some temporary abnormal
profit.
| There has been, and | am sure there
will be- a sufficient market at falf
price for all the staple grown In tn!S
state. | do not believe we need to con-
Germ ourselves greatly about that 40
believe that the permanent success OF
this industry depends very much more
upon the intelligent and cooperative
effort of all of us right here in this val
lev who are engaged in producing and
marketing this crop.
Chairman Heard's Statement
Dwight B. Heard, chairman of the
cotton committee, stated last evening:
I'VE realize thoroughly that the com
mittee has a large and difficult TASK
to accomplish. We are endeavoring as
promptly as possible to assemble the
facts of the situation, on which we shall
hope to build a definite constructive
Man for Improvement In this plan we
lGGl
port of the growers. bankers and busl-
ness interests Of the valley. As this
question so thoroughly involves the
prosperity of this community, there
should be complete unity of action.
'While the local demand for Arizona
Pima cotton is weak and the present
price is not satisfactory to the grow
ers, it is but natural to expect that IN
the REIMBURSEMENT period following the
conclusion of the war and before the
industries of the country have ad-
iusted themselves to an after the-WaT
program there should be more or less
uncertainty in the price of a WORLDWIDE
commodity like cotton. There are many
: fundamental facts in this situation tha'
indicate that shortly after the new yeaI
we should see an improvement both II
demand and price. This community
naturally wants to see the superior cot
ton grown here sell for what it is worth
and not on a speculative basis and we
must naturally expect that the price Of
our cotton will be based upon supply
and demand. What we want u do Is
to free it from manipulative or specu-
latiye influences.
on the subject of the world supply
and demand for cotton, the fedora
committee on cotton distribution re-
Gently made the following statement
THE worlds requirements of cottoI
to meet its increasing demands fol
, clothing will henceforth be on con
= tinuously ascending scale. Based upof
I reports to this committee from Varl'
Gus foreign countries, we estimate thel
? requirements and probable imports o
: cotton under present conditions TO D'
+ over two million bales in excess of las
, | ,,a.sr'S tal<ineS EurODe is almost de
I nuded Of cotton and cotton goods. Tit
| potential buying power of the worlt
which will be aided and FASTENED b!
l the establishment of the necessar.
e credits will quickly assert itself
\ 1t seems quite evident from reliable
' information that there have accumu
/ lated considerable stocks of Sea 1slan'
; and Egyptian long staple cotton il
= America. which together with thu
: 1888 crop of American Egyptian ant
Y Sea Island cotton, will aggregate in tn
s vicinity of 100000 bales.
r The supply of Sea Island cotton, on
: only American competitor of the quail
f ity produced here, naturally affects tn
- price and demand Of our own cotton
i Early in the season this years yield o
= 1888 crop of Sea Island cotton wa
= estimated at 81, 900 bales. From recen
e reliable reports it is now evident tina
5, from the ravages of the boil Weevi
p this crop will be reduced to less thai
e 10000 bales, which should have a stiff
s fleming effect on the price of the Ari
I IONA product.
c The industrial division of the Mer
q chants National bank of Boston re
q Gently reported that the automobile tir
t. manufacturers alone used, in 1911
q 81 ono ba les of long stanle cotton am