The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-07-12
Cotton For Price
Statement by American Cotton
association Shows That Sup.
ply IS Short and Prices High
Then Since the Civil War
VIII Prevail

Columbia, July 8.-That it will re-
sqmse at least $4,000, 900 bales Of cot
ten TO supply the demand from Aug
ust 1s1 8 60 August /, 1929 is the
Essli made by the committee on
supply and demand at the meeting Of
the directors OF the American Cot
sfan Association in New Orleans on
THURSDAY. The report declares that
the amount Of cotton produced in
America the last four years lacked 81
aa0 88e bales of supplying the demand
.hg the mills.
sIt is declared by the committee that
Europe consumed nearly $4,000. 600
less bales of cotton during the last
foas years than she consumed in the
previous four years and that Europe
Is today shorter OF raw cotton aad
cotton goods than in
the last ffsy years
The committee says that financial
acrangements will be made that will
seiaabie Earope to purchase sufficient
cotton to supply her pressing needs.
Japan is said TO be making plans to
make an increase in the handling
OF ofAn1erfcan cotton.
s The report OF the committee as Civ
sen out at the headquarters Of the
american Cotton Association here
Saturday follows in full:
The committee on supply and de-
mand beg. leave to report as follows:
As result Of most thorough IN
sestigafion We beg leave to report
that the amount of cotton produced
ia America in the last four years
lacks three million bales of supplying
the amount consumed by the mills
We beg leave to further report
that after Investigation Of European
conditions we fnd that Europe con-
sumed nearly sixteen million bales OF
cotton IN the last four years less than
she consumed in the previous four
years, practically one million bales
OF cotton, intending raw cotton and
cotton goods, was sunk or DESTROYED
'by the war, in other ways; that an
enormous amount of cotton was con-
s1red for raw material, that Europe
is today shorter Of raw cotton and
manufactured cotton goods than in the
last fifty years We unhesitatingly
state as result of confidential informa-
tIcn secured by using our investiga-
ton in Europe that financial arrange
menfs Will be made which will enable
Europe to purchase sufficient cotton
to ssupssly her pressing needs It has
been estimated by those who are
handling the situation that it will re-
auire at least twelve million bales Of
cotton from August 1, 1919 to August
8, 1929 TO supply these needs
- 4svye further fl,d that Japan is pre-
pairing to make an increase in the
banding Of American cotton and that
axsa result of a thorough investiga-
ton we are convinced that Japan will
IzsA from August 1, 1919 to August l.,
1926 around million and a-half
bales Of cotton, provided she can get
this quantity.
We further find that the American
mills, regardless of the fact that they
showed stupendous earnings during
the war period, are facing even
greater period of prosperity, and that
their needs for raw cotton for the
year commencing August /, 1919 and
closing August I, 1920, will exceed
any record of the past.
8 AS result of these conditions and
as result Of Investigation by leading
experts, we find that there will be an
enormous shortage Of raw cotton; that
in addition to the enormous demand
and the short supply, the infiatiop<0f
the currency will playatI tremendous
part ipciarrcfesasssg ciarrcf esssssg HE price of cotton
the same as it has done for other
commodities: We also find that raw
cotton today is being purchased far
below a reasonable price based on
the price Of the manufactured pro-
ducts, and based on above condl-
lions. It is the unanimous opinion Of
both our committee and the board Of
experts that as result Of above condl-
tons raw cotton will sell for price
above the highest price it has reached
since. the commencement of the war
and probably as high as any price 1T
has ever touched since the War Be-
tween the States
I'VE further urge that the Ameri-
can Cotton Association use every ef-
fort to induce the producer to ware
house his cotton and protect it against
damage, and urge that, under no con-
.dition, he dispose Of a pound of his
cotton until it has reached the price
justified by above conditions"
Spartanburg Discusses
Strike Situation