The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1920-01-01
EUROPE IS AFTER
100000 BALES
ACCORDING TO STATEMENT BY
BY THE COTTON ASSOCIATION.
Demands Are Enormous.
Experts Make Close Study of Ex-
change Situation Existing
at Present.

Columbia, Dec. 27.-'A painstak-
taking investigation by the American
Cotton Association through the most
reliable sources in Europe, for the
purpose of securing all possible in
formation on the exchange situation
and the European demand for raw
cotton, conveys the absolute certainty
OF a world demand for 17,000,0 900
bales of American cotton" says
statement issued today by J. Skot-
| towe Wannamake, president of the
American Cotton Association.
From whence can this cotton
come?' asks Mr.. Wannamaker.
Enormous contracts, some at far
lower prices, both for long and short
staple cotton, must be filled. Cotton
is DIRT cheap today at 81 per pound,
basis middling."
Confirm Statements. y
"The best experts in the country
have confirmed our statements that
the world is facing shortage in raw
cotton, and that manufactured prod
ucts from cotton are enormously over
sold. Europe will export more cotton
than any previous year since the War
Between the States.
''In our Investigation we consulted
the best experts in Europe and Ameri-
ca. We also consulted with the larg-
est dealers throughout Europe, Our
statement that the supply Of raw
cotton has been far oversold at far
lower prices has been confirmed.
Many Of the mills of America and
Europe have sold enormous amounts
of manufactured goods at fabulous
prices. Europe is alarmed over the
absolute certainty of a shortage OF
raw cotton. -. -. + - AK
"Direct offers have been made from
a combination of the largest Europ-
can dealers for the largest amount OF
raw cotton ever sold at one time or
the largest amount ever sold in sew
eral consecutive deals, the price Of
fered being far above prevailing
prices, in desperation and to secure
raw cotton an offer was made to pay
to the producer the amount now be-
ing deducted for exchange by Eu-
rope, it being realized that exchange
conditions will finally become norma.
Says Hold Staple.
"With the information in hand, on
supply and demand worldwide, and
the price of the manufactured prod
uct, I unhesitatingly urge the pro-
ducers to hold their cotton. Europe
has already exported 100000 more
bales this year than last. In addition
to this an enormous amount of cotton
now in America has been sold al
ready. We are facing the absolute
certainty of cotton selling on the
basis aof fair price.
can investigation of the New York
Exchange by committee of SPIN
ners, has been arranged for the pur-
pose of trying to arrange Southern
warehouses for delivery. However, 1t
is too late to lock the door after the
horse is stolen.
Nine-Tenths of Clothing.
"N;ne-tenths of the clothing Of the
world is made from cotton, there is
a world shortage and the demand for
manufactured goods at unheard Of
prices, is the greatest on record. For
higher prices for cotton is an abb
solute certainty, you have the choice
to sacrifice your cotton at prevailing
prices, permitting others the privilege
of reaping what they have not sown,
or of holding your cotton for just
and fair price. If you have an ounce
of sense you will adopt the latter
course.
PAY no attention to the mislead-
ing statements being issued by peo-
pie who have sold something they do
not own, that they cannot secure and
which does not exist, the cotton you
have and which they greatly desire
for the purpose of releasing them
from Their predicament."
Pittsburg Physicians and druggist
were arrested here today by deputy
United States Marshal and held In