The herald and news. [volume] (Newberry S.C.) 1903-1937, 1919-07-22
: SPINNERS FEAR
COTTON SHORTAGE
Dry Goods Men Tell Wannamaker
That Middling Cotton Worth
Sixty-fve Cents Pound.
The State, 10Th.

The State, 10Th.
In a statement issued in Columbia
yesterday, J. Skottowe Wannamaker,
president of the American Cotton
association, declared that he had re-
.oently laid before the largest manu-
-facturers of America and largest dry
goods houses and best experts of
America the question: "What is a
pound of middling cotton worth,
based on the price of the manufac-.
vtured product today, after deducting
the price for manufacturing and
sair profit to the manufacturer"
Mr. Wannamaker says in his state
ment: "Their answer to this inquiry
Is that it is worth from 65 to IS cents
per pound basis middling."
Mr.. Wannamaker further declared
IN his statement that Chased on sup
ply ana demand the world is facing
the greatest shortage in raw cotton it
has ever faced since cotton was frs
5ntro3uced into America"
~ an firmly CT the opinion that
.,!....5 AID English spin
ners are terribly uneasy or account
Of tse tremendous advantage which
the American Cotton association IS
br:ng:ng to the entire cotton inter-
.ests," said Mr. Wannamaker. ''Ihey
are terribly uneasy on account Of the
fact that they realize the world is
facing a great shortage, that the
producer will never again operate his
farm except upon business basis
and not over produce.
"Before this time next year the
spinners will be glad to buy cotton
at any price If their spirit and lib
serality is such as many of their
friends claim, they have golden op-
portunity to prove this now by pay
ang fair, just. price for cotton bas-
ed on the manufactured product,
which would be 65 to rs cents per
pound basis middling, instead Of con-
tinuing to buy at present prices bas-
ed on the manipulated prices of the
New York Cotton exchange. The
price being paid at present IS abso-
iutely unfair"
Mr.. Wannamaker yesterday receiv-
ed the following letter from United
States Senator E. D. Smith COM
1oending his recent article on supply
and demand:
4 want 10 congratulate you on fol
s-ow.ng up by actual statistics the tre-
menaous shortage in the supply CT
Gotten as compared with demand. 4
careful study Of war conditions, pre-
qrar conditions and now post war con
eIrions will be wonderfully instruc-
:2,11ze TO our farmers and to the world
at large. The world consumed prac-
zrically fifteen million bales of Ameri-
sscan cotton while the embargo was on
the central powers and while we were
still at. war American consumption
Erose from about FIVE millions to seven
millions. Now with all embargoes
lifted and with the supply of cotton
agoods necessarily depleted the world
over, just what price cotton is going
to is hard to say. The supply Of cot
ton goods throughout the world is
depleted from two tremendous and
far reaching causes: the drafting of
operatives and labor from mills, the
Decentralization of business and then
the total inadequate supply of the
raw material. Now that employment
Us being sought by those released
from military duty and the world is
~clanoring for cotton goods; and no
sambargoes, prohibitions or restric-
7tions exist and the supply so mani
Sestly short it is only question of
what the world is willing to pay or
rather can pay. The outlook from
all ] can gather is, for perhaps a
shorter crop than even last year.
81 hope in the near future to give
~out-an interview on this cotton ques-
ton that will be of aid in the fight.