The herald and news. [volume] (Newberry S.C.) 1903-1937, 1919-12-12
SAYS COTTON CROP
BELOW 100000 BALES
Wannamaker Claims Trade Demands
$4,000, O,0O0.-Growers Assured
of Share of Profits.

Wannamaker Claims Trade Demands
$4,000, O,0O0.-Growers Assured
of Share of Profits.
The State.
j. Skottowe Wannamaker, presi-
dent of the American Cotton associa-
ton, last night issued a statement in
which he says the indicated yield
from the present cotton crop will be
1861 900 bales. When to this is ad-
ded the cotton brought over in the
seed from last year, cotton from sam
pies, undersized bales and ''city crop,
the total yield should be 10,120,000,
exclusive of linters. The following
is the crop estimate, supplemented
by a discussion of the labor situa-
ton and the. cost of production.
''The cotton crop has been corner
ed by natural forces. The crop is far
too small for the worlds require
ments. Our Investigations, both at
home and abroad, show that it will
require an American crop of 15,000,-
600 bales from the present crop to
anything like meet the absolutely
pressing demand for raw cotton. The
manufacturer could pay far higher
prices for raw material without in
creasing the price of the manufactur-
ed product, and still make hand
some profit. The Southern cotton
producer has the cotton consuming
world absolutely at it's feet for the
first time in the history of the trade.
There is such colossal worldwide
demand for goods and such an IN
adequate supply of raw cotton, and
the market is. so enormously over
sold in both long and short staple
cotton, that it will be absolutely and
entirely impossible to fill these COM
mitments regardless of the price Of
fered for the raw material. A SINH
lar condition has never existed in the
cotton industry. The enormous prof
it's being made, by spinners and man
ufacturers, the tremendous number
or orders clamoring for execution,
both at home and overseas, will add
to the acuteness of the situation. Far
higher prices under these conditions
are an inevitable certainty. The sup
ply of good grade cotton is unthink-
ABLY short and is bound to force an
enormous premium for good grade
cotton and to raise the price far
higher for off grade.
Indicated Yield.
Investigations into the remotest
rural districts of the cotton belt
brings to light the fact that the gin
ming of the growing crop is more
nearly completed than at the same
time at any period in the industry.
There was an enormous amount OF
seed cotton brought over from 1913
which will be added to the indicated
Weld of the present crop. The lndl-
Gated yield from the growing crop
we find to be 9,667,000. To this must
be added cotton brought over in the
seed from 1918, cotton from SAM
pies, undersized bales and city
CROP making a total yield Of 10,120,-
600 bales exclusive of linters.
Labor shortage is more acute
than it was in the spring of 1919, and
it was necessary to abandon an enor-
nous amount of acreage for this
reason, so that there is no possibility
under present conditions, to cultl-
vate an acreage for the coming year
even as large as the acreage planted
for this year. On account of adverse
seasons. there will be an enormous
scarcity of planting seed throughout
the Western belt.
Cost of Production.
"While the present crop has been
the most costly ever produced, 1920
will show far higher cost. A sys-
tematic campaign is now on through
out the length and breadth Of the
cotton belt which is meeting with
ready response for the producer to
buy October cotton in New York at
present prices, which are far below
the cost of production, and planting
his land in food and feed crops, which
can be produced with less labor This
in itself will make an enormous re-
duction in yield for 1920, and IN.
crease the demand. AS result OF
the campaign conducted in every
section Of the cotton belt there is
absolutely no such thing as invisible
cotton existing today. The previous
demands have added this source to
draw from. Under these conditions
with a demand far in excess Of the
supply, with a natural corner in the
cotton crop, the price of the anu
factured product, far higher prices
should prevail for raw cotton and
such higher prices are absolutely GER
tain under these conditions.
''The producer, being thoroughly
organized through the American Cot
ton association, absolutely controls
the raw cotton. It will BE necessary
to pay him a fair pro6t, based upon
supply and demand, the cost of pro
duction, and the price being paid for
the manufactured product"
GRAND JURY MAKES
ITS PRESENIMENl Nj