The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1920-11-20

people OF the nation threw up their
hands and yelled Ruin" For, right
at the marketing season. cotton
started sudden and sharp decline
that carried the price down 10 so
per cent below the prevailing figure
OF planting time.
COMMITTEES RUSH To
WASHINGTON SEEKING AID
Committees rushed 10 Washington
and appealed for aid. stories OF hold
ing movements and SIN burnings
filled the telegraph wires. Northern
manufacturer. wso sell autos, shoes.
pianos and pans and a million ard
one other articles In the South. sud
denly saw one Of the nations great.
est markets menaced by financial de
preston.
The same men who rushed 10
Washington are today sorry they
aid SO. Those who yelled ruin" Will
now enthusiastically tell you that. in
spite Of tremendous loss. the
South will come thru safely" and
that the lesson II Is learning will
bear fruits In better financial and
agricultural conditions In the fu-
ture.
In short. the public feeling has APP
pareu,ly run from abicct pessinism
20 optimism.
As for the so-caiied nlght-riilng
and gin-hurnings, they don't exist. l
have talked to scores OF cotton men.
IN many southern cities. and have
yet To find a gin fire which was
proven 10 be incendlary.
GIN FIRES No MORE
NUMEROUS THAN USUAL
In fact. cotton men claim the sin
fires this year are not more nurner-
GUS than In other years. During the
ginning season. and after months OF
dry weather. numerous gin fires arc
not unusual.
The country should forget night
ridlng--if exists only In the movies
but the country should study the
general cotton situation. for cotton Is
Americas greatest export crop. cot.
ton furnishes employment 10 hun.
dresis OF thousands In the North. and
the cotton section Is one of Amer
ica's chief markets for manufactured
products.
There are two phases 20 the pres.
ent crisis. First. the growers say the
1890 crop cost 20 to IS cents pound
To produce-and the present selling
price II below cost. Second. more
than 5000 900 bales remain In ware
houses from the crops OF the las,
three years. on which millions Of dol
lars have been loaned. and there is
: no market for this cotton.
sHOl.DOvER COTTON"
~ Or LOW QUALITY
These 5000. 600 bales OF "hsIdover
cotton" represent tina, part OF the
crop which Ia OF low qunlity--.short-
fiber. stained and filled with trash
which American mills will not use.
Germany. alone. used TO take more
than f.0o0. 900 bales Of this yearly
for rope. burlap and the heavy cloth.
ing OF her peasants. with the Ger
man and other Central European
markets closed by war and inability
TO purchase because Of lack Of cash
or credit. this cotton backed up on
the American market.
Thus the South Is trying 10 get
rid Of its old cotton and at the same
time to secure better price for ~
new cotton.
The government early refused 20
handle the situation. The South
then set 10 work for itself Out or
Its difficulties have arisen a number
Of plans for export corporations. CO.
operative marketing and changed
agricultural conditions which. while
they may not save this years crop.
promise tremendous improvements in
I future years.
Meanwhile. bankers. buyers and
cotton factors declare from so TO
rs per cent Of the 1920 crop will
be held for some months and then
marketed slowly. and that the South
has the finances TO carry out this
program. They also expect a grad.
uai rise In raw cotton prices and a
steadily improving financial stu.
alton.
s.
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