The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1920-01-07

>o'eoii pAouucClOn IS grown IN
America and this years crop of about
100000 bales will be worth abont
$4,000, 100000. OF this II 90 900 bales
about 3,500,000 bales or 80 per cent
will be consumed by mills licated in
the Southern States chiefly in tho
Carollnas and Georgia, and the remain
DER OF 100000 bales, worth 81 500
0oo. 00O,, will be shipped to the New
England mills or exported.
building Warehouses.
Inc American Cotton Association
win the mills, farmers, merchants
bankers, professional and business
men as its foundation stone, is push
ing the building of warehouses: a |
warehouse or warehouses for each
county, owned and consrolled by the
people OF the county, operated under
the State or federal warehouse act
sufficient to hold the cotton of said
county. That is the program they are
Rushing throughout the length and
breadth of the cotton belt, so that
the entire South will be dotted with
warehouses and the marketing of cot
ton stretched over a period of twelve
months instead of being rushed on the
market in the harvesting period of
three months, 70 per cent being the
average amount Of cotton sold in these
three months heretofore.
The next link will be concentration
warehouses. The American Cotton AS
sociation is forming n bank, export
andand discount corporation for mr.
pose of effecting direct sales of cot
on both at home and abroad, their
plans are we'll lai dand it is the con-
scnsus of opinion of men who have
given lives of study to this great
question that the opportune time has
arrived to absolutely change condi-
tlons which have heretofore existed
IN the handling Of the cotton indus
Try. AntIQuatcd methods must be
relegated to the scrap heap; South
ern spot exchange should be cstab-
llshcd; New Orleans has golden op-
portunity.
Complaints Being Made.
Great complaint is being raised
against methods which now exist on
the New York exchange. Manufactu-
rers cannot use it for hedging pur-
poses; time and time again it's com
mittecs have recommended that it es-
tabllsh warehouses of certifcation in
the South from which cotton could be
dellvered for contracts bought on the
New York exchange. Recommends
tons of this committee were endorsed
by leaders of the manufacturers all
to no purpose, and as result New
YORK has lost he ropportunity; she
has killed the goose that laid the
golden egg.
New Orleans, by establishing ware
houses of certification at conccntra-
ton points throughout the cotton belt,
by making certain radical changes in
tn rules and regulations so that q
contract will assure the delivery of
spot Cotton from these certified ware
houses, can become great spot cX-
change, absolutely controlling the
situation.
with warehouses in every county
and parish throughout the length and
breadth fthe cotton belt, operating
under the State or federal warehouse
act, with concentration warehouses
with government graders for all of
these warehouses, we arc facing the
most complete change In the cotton
industry that has ever, occurred since
the first slave was sold for the pur-
pose of producing cotton and which
resulted in the South swapping her
birthright for bitter mess of pot
tagc: The handwriting has appeared
on the wall; special committees have
been appointed by the New England
splnncrs to confer with the New York
exchanges; special committees have
been appointed by the New York ex-
change; great dissatisfaction exists.
rot only throughout the entire cotton
industry, but among the members of
the New York exchange.
Chicago Is Bidding
Chicago is making a bid for this
BUSINESS. In a recent address before
the Chicago Board of Trade, Theodore
b. Price unhesitatingly recommended
that Chicago take steps to establish
a spot exchange for the entire cotton
belt, which was tributary to Chicago
and not to New York.
The New Orleans exchange, the
Chamber of Commerce of New Orleans
and the Chambers Of Commerce from
the various cities Of the South should
Immediately take steps to cooperate
IN the establishment Of this exchange
and effect this great change in the
cotton industry. Opportunity is knock
ing. She offers Il golden oopportu-
icgc Of changing these antiquatcd
methods which were established in the
handling of cotton in about 1869. so
that by this change the producer and
Tn" manufacturer in every line of the
cotton Industry will receive great hcnr
fits. She offers a golden opportu-
nity to the South to attend to her
own business Will she ocrnnt tb;,