Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1920-03-18


ing from IS to 40 cents . pound,
and sea island cotton selling at tho
fabulous price Of . dollar pound,
Savannah is enjoying some of the
most prosperous days in . long
and, on the whole, remarkably
prosperous history. Her harbor Is
filled with shipping-and she now
has slips for no less than seventy
five vessels. Her streets are crowd
ed with motor cars and with dress
ed-up, prosperous-looking people.
Her merchants are doing q record
business. Everybody seems to be
chock full OF money, municipal
pride and confidence in the future.
This condition in Savannah is
typical of the wonderful recovery
which the whole otton-producing
south has made since the dire days
Of 1914, when cotton was down to
six cents a pound and couldn't be
sold at that price. Those were the
lays when President Wilson called
upon all good citizens to buy
bale of cotton" and relieve distress
in the south. A good many did 1t
and sold the bale again, just as
soon as they could. One man here
in Savannah, who bought two bales
at that time for about fifty dollars
bale, forgot about them, and did
not sell them until q few days ago.
He received about two hundred
dollars a bale for his cotton. And
so far as W. H. .Teasdale, secretary
of the Cotton Exchange here. is
aware, he is the only man who
bought cotton when it was down,
and held for the present rise. After
all, nearly all really great specula-
tive chances are missed. Any man
who had had sense enough to put
a few thousand dollars in cotton in
1914. and to hold it until this year
could have more than tripled his
money. A few may have done it.,
but it was not at all generally
done.
Savannah's great prosperity is
explained by the simple fact that.
while the cost Of living has gone
up so to 100 per cent, the cost of
cotton has gene up about. 800 per
cent in the same length Of time.
Hence everyone having to do with
cotton is far ahead Of the game.
Dealers have made big money. and
so have growers. The countrymen
are all riding around in cars. The
shipbuilding here has also been a
considerable factor in the improve
ment of conditions.
Things here were perhaps at
their worst in November, 1914,
when, according to Mr.. Teasdale,
ordinary niddling cotton sold for
about six sents and sea island cot
ton for about 10 cents a pound,
with a market hard to find. BY the
first of the following year trade
was brisk, and in February, 1915
Savannah shipped more cotton than
in any other month in her history
nearly a third of million bales OF
upland cotton and lintels leaving
the port, and over a thousand bales
of sea island cotton. This cotton
was rushed to Europe to get in
ahead of the blockades which were
then becoming tighter and tighter
Sweden. Holland. England, France
and Spain got most of it. A good
part of that which went to Sweden
and Holland no doubt found its
way ultimately" to Germany Al
this time some Of the last direct
shipments to Germany were made
from this port. and it is said thai
they were made at prices far in
advance Of the market and brought
enormous profits to certain dealers
The market prices for these large
shipments, just before shipping
was tied up. were from eight, tt
nine cents for good middling cot.
ton. The fact that there was q
great rush to sell at such price.
shows that no one anticipated the
rise that was coming.
Nevertheless. that rise began i'm,
mediately. as an Inevitable result
Of war conditions, and continued
steadily up to this year. At the
end of 1915 middling cotton was al
II cents; a year later it was around
10 cents; in late 1919 it was at q
cents. Sales we're free and stead,
at all these prices.