The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-10-31
Held $4,000 Bales of Margin in
Effort to Force Down Price
But We're Finally Driven to
Let Go and Lost Heavily.
ATTEMPTED TO PROSPER
ON FARMERS ADVERSELY
j. SkOttOwe Wannamaker, Presi-
dent of American Cotton AS
sOciatiOn, Issues Statement
Telling of Scheme.

Columbia, Oct. 30.-"The combina-
ton of manipulators who sold a tre-
mendous amount of cotton late last
fall at 22 cents for October delivery
in New York with pre-arranged plan
and understanding of beating the mar
ket down to 1914 and Is cents have
paid dearly for their efforts to pros
per on the adversely of the farmer"
says j. Skottowe Wannamaker, presi-
dent of the American Cotton 'Associa-
tion in a statement today. Interesting
information regarding the working of
the clique, of how it had planned to
push the price down, ETC., has been
furnished the association, Mr.. Wan
of the cotton producers in New York.
1--WE have learned" said Mr.. Wan
namaker, that a total of $4,000 bales
were carried by this clique until this
fall in their desperate effort to crush
prices. Inside information has been
furnished the American Cotton Asso
citation concerning the working of this
clique, from it's incipiency to date.
The last $4,000 bales of cotton were
closed out by it on Friday of last
week at 200 points advance for Octo-
ber. This, of course, meant a fabu-
lous loss to the manipulators.
This is probably the first time in
| the history of such manipulations that
| the manipulators have failed so deep
| 1y into their own pit and brought
misery and loss upon themselves. 1t
will probably teach them a lifelong
lesson. They have lived to realize that
the mills of the Gods grind slowly but
tgrind exceedingly fine. The fact tlla,
f15, 900 bales were held until last Fri
day and closed out on that day was
1 furnished us by friends on the inside
The American Cotton Association has
some loyal friends in the great cotton
centers of New York and elsewhere
They are men who are bitterly op-
posed to the unjustifiable manipula-
tions which have been a scandal to the
cotton market for 10, these many years
land have brought loss to the legiti'
Innate dealer.
Cotton is slowly moving into Ger
lmany. News from Savannah, Ga, il
to the effect that a large shipmen
was scheduled to leave that port las
jweek for a German port 1t is bring
ling $3.50 per 500-pound bale for mid
ldling cotton in Germany money. Thi
money is being locked in a safe b.
those who are selling cotton and will
eventually be worth dollar for dolla
so that it will bring a golden strean
to the parties handling this cotton.
"As result of the work of tn
World Cotton Conference, the Ameri
lean Cotton Association is recognize'
las a world power today. Inquire
through kilograms and letters are be
ing received from every section of tn
world where cotton is used CONNER
cially. The manufacturers are making
inquiries as to the probably minimum
prices that will be recommended b.
the American Cotton Association afte
! the ratification of the peace treaty
Also they are desperately anxious I
be furnished with information as I
the probable acreage that will be
recommended by the association mex
spring No information along thes
lines can be given as yet.
Textile papers in England hav
written the American Cotton Asso
citation to furnish them articles bear
ing on the objects and aims of tn
associations estimate on supply an
demand, the indicated yield of tn
{ crop for this year and various othe
! subjects bearing on the cotton indus
try. Many of these inquiries stat
THAT the belief in England is that tn
association will soon become a worl
power Thus, it would seem, we hay
mot only walked up the south but W
lare waking up the north and the Brit
/, /, ish Isles also"