The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1921-07-21
BETTER TIMES AHEAD.

The prices paid for tobacco at the
opening of the markets Tuesday were
disappointing. but the man who frets
holds in store is giving himself a
whole lot of unnecessary trouble.
Men whose business is to study the
market predicted low prices on the
opening days. They knew that lots of
inferior tobacco would be offered for
sale, and systematic newspaper
campaign against marketing this
quality of tobacco was of little avail
There was lots of it on the Dillon
county markets and We take it for
granted that lots of it was offered
for sale on other markets.
The world market is glutted with
tobacco of an inferior quality. 1t
brought fancy prices during the war
and quantities of it are still in stor-
age. The manufacturers do not want
it and the dealers cannot dispose of
it. When offered for sale 1t brings the
average down. and that is the reas-
or warehousemen warned the farm
ers against bringing it to the markets
last Tuesday.
1t is the opinion of tobacco ex-
perts that good grades of tobacco
will bring fair prices, and the pre-
dictlon is freely made that as the
season advances the price will i'm
prove. At least everything points that
way.
Not only the south but the entire
nation is suffering from lack of con-
fidence.
People do not like to buy on al
falling market, and it is infinitely
better for the morale of the country
II the markets open low and make a !
steady advance than if they open
high and show steady decline. It'll
is better for tobacco to sell for 81
cents on the opening and advance to Il
80 cents than for it to open at sol
cents and decline to five cents.
Dillon county and the entire
cotton belt will fare much better and
take a more hopeful view of the fu,
ture if cotton opens at cents and
sells up to Is cents than if it opens
at Is cents and sells down to cents.
For the last six months there has
been a steady decline in the price of
stocks. The New York stock market
has been demoralized, but regardless
of how contradictory it seems, never
theless it is fact that the decline in
the price of stocks was accepted by
well-informed BUSINESS men as the
first sign of nationwide business
revival.
Stocks could not stand still and
they could not go higher. They went
down, and now that the bottom has
been reached they must go up as
naturally as they went down, and
there will be plenty OF buyers on a
rising market.
1t is the same with cotton and to-
bacco. 1t is the opinion of experts that
the bottom has been reached, and as
the price OF either commodity can
not remain stationery it must of ne
cessity take an upward turn. When
the advance begins there will be
plenty of buyers and the markets
should remain strong throughout the
season.
An analysis Of local financial condi-
ticns is not discouraging. The last
statements Of the nine banks in the
county showed bills payable totaling
approximately $1,000, 900. The banks
owe this money to outside banks and
1t must be paid.
The present Indications are tha,
Dillon county will make 10000 bales
ot cotton. Even at ten cents a pound
100000 bales of cotton will bring in
one and a half million dollars of new
, money. The tobacco crop at the
cost conservative estimate should
'rn out $1.2oo.oOO. This gives the