The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-03-20
TOPEKA STATE JOURNAL
Information Bureau
FREDERIC j. HAsIzIN, Director.
Washington, d. C.
HOW COTTON CAME UP.

thirty-five to forty cents a pound. and
sea island cotton selling at the fabu-
lous price of a dollar a pound, Savan-
nah is enjoying some of the most pros
whole, remarkably prosperous his
tory. Her harbor is filled with ship
ping-and she now has slips for no
less than seventy-five vessels. Her
streets are Gro vdkd- with motor cars
and with dressed-up, prosperous-look-
ing people. Her merchants are doing
a record business. Everybody seems
to be chockfull of money. municipal
pride, and confidence in the future.
This condition is typical of the Won
derful recovery which the cotton-pro-
ducing south has made since the dire
days of 1914. when cotton was down
to six cents a pound, and couldn't be
days when President Wilson called
upon all good citizens to "buy a bale
of cotton" and relieve distress in the
south. A good many did it 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 a bale, forgot about
them. and did not sell them until a
few days ago. He received about 5000
a bale for his cotton. And so far as
w II. Teasdale, secretary of the Cot
ton Exchange. is aware. he is the only
man who bought cotton when it was
dewn, and held for the present rise
After all, nearly all really great specu
lative chances are missed. Any man
who had had sense enough to put a
few thousand dollars in cotton in 1914,
and to hold i. until this year could
have more than tripled his money. a
few may have done it, but it was not
at all generally done.
r Savannah's great prosperity is ex-
planned by the simple fact that, While
the cost of living has gone up eighty
to a hundred per cent. the cost OF cot
ton has gone up about three hundred
per cent in the same length of time.
Hence every one having to do with
cotton is far ahead of the game. Deal
ers have made big money. and so have
growers. The countrymen are all rid
ing around in cars. The ship-buflding
here has also been considerable fac
tor in the improvement of conditions.
Things here were perhaps at their
worst i'll November. 1914. when. &C
cording to Mr.. Teasdale, ordinary
middling cotton sold for about six
cents and sea island cotton for about
nineteen cents a pound, with market
hard to find. By the first of the fol-
lowing year trade was brisk, and in
February. 1915, Savannah shipped
more cotton than in any other month
in her history nearly third of a mil
lion bales of upland cotton and llntels
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 be-
coming tighter and tighter. Sweden,
Holland, England, France and Spain
got most of it. "A good part OF that
which went to Sweden and to Holland
no doubt found IT'S way ultimately to
Germany. At this time some of the
last direct shipments to Germany were
made from this port, and 1t is said
that 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 to nine CENTS
for good middling cotton. The fact
that there was a great rush to sell at
such prices shows that none anticipat-
ed the rise that was coming.
Nevertheless that rise began imme-
diately. as an inevitable result of war
conditions, ard continued steadily up
to this year. At the end of 1915 mid
ding cotton was at twelve cents;
cents; in late nineteen it was at
twenty-eight cents. Sales were free
and steady at all these prices.
Mr.. Teasdale reports at present,
sales of cotton are abnormally small.
Dor, but lack of buyers at the cur
rent very high prices. A great many
people seem to think that cotton prices
have reached their peak and are going
to come down, tho no sudden or dis
turbing descent is looked for. The ex-
change rate, which makes the price
still higher for all foreign buyers, is
also a factor in the present dull
market. During a recent week only
$50 bales of cotton were sold here,
which is for Savannah, practically no
cotton at all. Nevertheless, every one
here is confident and satisfied, for it
is clear that the demand will keep cot
ton at a relatively very high price for
a long time to come. The tendency is
to keep the cotton in the warehouses
rather than sell at a lower figure.
Savannah now has warehouse facili-
ties for 100000 bales of cotton and
there are said to be about 100000
bales in these warehouses now. On
the other hand, it is said that there
are only about 10000 bales of cotton
in New York which could be delivered
on contract.
Meantime the south has been enjoy
ing. ideal cotton weather. Last fall
was long, dry, hot one, with no frost
until December, and that is the kind
of weather which makes the fiber
grow long and gladdens the heart of
the Georgian.
In front of the cotton exchange
building here is a little patch of cot
ton growing in a circular flower-bed
perhaps twenty feet wide, and that
little patch is a veritable barometer
of the fortunes of the cotton-growing
SOUTH The brokers and shippers here
look at it every day, noting eagerly
how the weather and other influences
affect it. Last fall it flourished beau
utully for time, and then the boil
weevil made its appearance
Inc weevn seems to be the specter
at Georgia's banquet of cotton-made
prosperity. 1t is destroying a share
or every crop, and it is steadily
spreading But by forcing the farm
ers to grow corn and raise hogs and
go in for diversified farming general
", it is doing the state a good turn.
For, as nearly everyone has heard by