The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1918-11-16
eoKER on COTTON SITUATION 4 lll|
BACK FROM CONFERENCE
WITH ENGLISH ECO sss, s,
NOMISTSI
Great Deficiency and Very Soon
There VIII be Demand for All Cot
ton. to BE Supplied-Why Prices are
Low.

Columbia, Nov. 14.-D. r. Coker,
who has Just returned from a two
months trip to England and france:
as member Of an agricultural COIN
mission sent by the secretary OF ag-5
rieulture, was in Columbia yesterday
In connection with the work OF the
commission Mr.. Coker made some in-s
vestigations as to the cotton situation
abroad, and got the opinion Of PROM
inent European economists as TO the
worlds needs of cotton and other
textile fbers. The consensus OF opin-s
ion was that. there is an accumplat-
ed deficiency of all textile materials
both raw and manufactured, IN tHe:
world. Z -
Prof. John AZ Todd of NottingAalg
one of the: worlds foremost experts In
cotton economies, ; thinks that ! cr9ps
Of is, ,oo0. 900 bales; Of Anericanscott-. t
ton is needed this year. ssis,Ss. sis,f
The stock Of American cotton
Liverpool the last Of October was.
listed at about 100000 bales. Mr..
Coker was informed, however that
not more than 10000 ba1ess 6E this
was unsoId. Buyers for English mills
were going over the Liverpool 1narKets
and buying desirable American cot-
ton wherever they could find it even
in one to five bale lots. Unsoid stocks
Of American cotton in; England are
practically nothing, although English
mills are now using only 40 per cent.
as much of our cotton as before the;
war. 80
Mr.. Coker believes that a .large
amount Of American cotton should be
shipped abroad just as promptly as
the tonnage can be had. Much is
now needed to replenish foreign.
stocks, more will be needed to supply
spindles now idle which may be ex-
pected to start up in few months in
the allied countries, and a foreign re-
serve for prompt export to Germany
and Austria as soon as our raw ma
teriais are allowed to go into those
countries should be maintained.
Mr. Coker feels that number OF
unusual features have combined to
temporarily depress the price. of cot
ton. In the first place, we have
the earliest crop ever known, and also
the harvesting period has been abso-
lutely ideal. This has resulted Id 8
very much larger proportion OF the
crop than usual being ready for mar
ket by November 1. The untottu-
nate price fixing discussions In Wash
ington was another unSettling fea-
ture. It caused wide fluctuations and
heavy losses to legitimate cotton inter-
ests. During the past month the
influenza epidemic has shut downs
large number of mills and disorgan-
lied the cotton marketing rpactin4
cry Of the south.
Mr.. Coker does not think that it is
strange that these cumulative inau-
ences should have finally resulted in
q heavy decline. He feels that there
is only one thing that will surely
check the decline and restore vali1es
and that is concerted holding moves
ment by the actual owners Of cotton.
He believes that in less than six
months there will be a. demand 8of
large quantities Of cotton for the Use
of new spindles in England and upon
the continent, and with this years
crop only approximately equal to the
worlds consumption, he does not see
where this cotton is to come from
without reducing the worlds visible
supplies to famine figures. Whatever
the immediate course Of the market
may be he feels that there is but one
sound course for the cotton farmers
and that is to refuse to accept pres
ent prices.