Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-11-07
BIC SYNDICATE IS
BUYING Up COTTON,
VVA|VNAMAKER SAYS
Wealthy Financiers Supply
Cash and See That Staple
Is Stored, He Charges,
Market Feels Effect

Inc charge CnaC q tremendous Syns
| dictate has been organized to buy and
| hold the 1919 cotton crop until next
spring was made Wednesday by ]. 8,
| Wannamaker, president of the Amer
lean Cotton association, in a state
ment telegraphed by him to the as
sociation's headquarters in Atlanta.
| Already the operations of the SYM
| dictate are beginning to affect the
| market, he says. He declares that
| the financial interests supporting the
movement are operating in secret
| knowing that discovery of their spec
ulations will boost the price of the
staple with a consequent reduction
in their profits.
In his statement Mr.. Wannamaker
| says:
Realizing the absolute certainty
| of what will amount to practically
complete exhaustion of cOtton-and
especially so as to the good grades
| before it will be possible to get any
from the 1920 crop, a tremendous
syndicate is being, or has been,
formed for the purpose of furnishing
loans to carry a large block of cot
| ton over until next spring. This SYM
I
wealthiest men in the cotton Indus
I try. Long staple already is practi-
! cally exhausted. and all cotton OF
short staple is being closely followed
and examined, for it is realized that
cotton with any staple from one inch
up is bound to be worth a premium.
This Is particularly true of the good
| grades Of the present short staple
crop, which will be available In
! lesser number of bales than perhaps
in a generation.
Golden Harvest Expected
at has leaked out that cotton -
being bought and stored, with ar
rangements made for the financing
of it until next spring, in the ex-
pectation that the holder Will then
be in position to virtually demand
his own price The men behind this
movement are enormously wealthy
and realize that money thus invest
ed in cotton now offers to them
golden harvest a little later.
Considerable cotton already mas
been accumulated in this way ana
this syndicate will carry in control
about 100000 bales Of this years
short crop.
The financiers behind this move-
ment are standing in the bacKgrouno'
realizing that a discovery of the
movement is bound to result IN iorc-
ing the price of cotton higher than
thew want It to go before they have
purchased the amount they desire.
ITnon the receipt of Mr.. Wanna@
makers telegram the following gem
eral statement was issued by the
American Cotton association from
it's Atlanta headquarters:
| "Based on a personal survey OF
the situation over the entire cotton
belt. measuring that by textile con-
ditions of the world as obtained from
the most reliable sources, it Is the
expressed opinion of J. S. Wanna
maker. president of the American
Cotton association. that no raw
product in use is going to be any
where nearly as considerably afrected
by the reimbursement conditions now
in process as cotton.
BASED on the information he has
gathered, it is Mr.. Wannamaker's
opinion that the demand for raw cot
ton is now just on the approach to
what is bound to come in very
short time. The world is now cot
ton hungry he says, and yet 1t is
ton starvation before another year
passes and another crop can be pro-
duced.
Super-Care Necessary
u "These conditions demand, more
than at any time heretofore, exercise
of super-care in behalf of and by
the producers of the staple to insure
their realization of something near
the actual worth of their product.
after the war between the states
cotton sold at 81 per pound, and yet
there was then not the demand for
or the scarcity of the staple that con-
fronts the world right now.
cit becomes essential therefore.
that the best mentality available de-
vote itself to transportation. distri-i
button and broadened markets in
order to reach the point Of actual
value. The methods of handling the
staple. as the direct result of the
operation of the American Cotton as
ISOLATION. will undergo an entire
chang. Here are some of the rea-
sons:
"It is computed that nine-tenths
of the clothing of the entire world
is made from cotton. and yet. out
of the worlds population Of 1.S00,-
100000, only 500,000,000 are com.
pletely clothed; 750,0OO,0O0 are only
partly clothed and 550,O00.000 are
without clothing.
ITO provide for the actual needs
of the human race it is figured that
55,000,000 bales. or Is IL pounds for
each human being, will be required
each year.
"The worlds cotton consumption
Of today is approx mately 23,000,0)O
bales, and of this. during the last
decade. the American crop-the staple
Of the south-averaged about 49,
100000 bales.
calculations of the best experts
in the world show there viii be an
enormous increase in the demand for
cotton as result of enforced
changes growing out of the world
war; that in the coming few years.
time the spinning world will demand
annually 100000 bales Of cotton,
and this. to meet the growing d md
fir m year to year. under a new con.
dition Of affairs, must be proportions
ately increased.
Stomach Trouble or Tape
Wnrnn Ponichnd