Arizona republican., 1921-09-08
DECLARES PEOPLE
 IF SOUTH GLAD IF. FAILURE IF CROPS

Down in Texas and other parts of the cotton belt there is the most re- markable condition I have ever run into" said w. s. Stevens to a Re- publican representative yesterday up- on his return from a trip over a large part of the cotton belt, and his at tendance at a meeting of the execu- tive committee of the American Cot ton Growers exchange, of which com mittee he is a member.
 "The people down there are abso- lutely rejoicing over a crop failure, failure of the cotton crop in partic- ular," continued Mir. Stevens, and 1t takes a little study to understand this frame of mind.
 "A failure in a large way, of the cotton crop means to them, however, an opportunity to sell what there is left of the crop at practically what the entire crop would have brought if it had been a normal one, and in addition will give the opportunity to get from under the old hangover crop and to get rid of the old scrap that have been cluttering up the | market
 "A careful study of the reasons for | the remarkable recent advance in cot | ton, as made by such students of con- | ditions as Theo. Price, Col. w. H. | Thompson, Eugene Meyer, and many other prominent business men, econ omists and cotton men, shows that there are four major causes, or fac
 tors. in the marked improvement the
 market has already shown. and the l course it is certain to take.
 "The first big factor is the many | millions of dollars the government is | fhr0HR their associations and financial in- stitutions. to provide for the orderly marketing of this crop of cotton. and prevent the usual dumping process. "A second big reason is the sucresS of the campaign put on last year fol
 cotton acreage reduction, fatherec and put through by the American Cotton association, with the resul
 that but two-thirds the norma
 amount of cotton was planted. and
 corresponding increase brought apou , in food and feed crops.
 ''Tne third reason is the unfavor
 able weather all over the belt. plu | insect pest depredations. that ha caused the government crop estimate to drop from condition of 64.1 pc
 cent as of the date of July 20, to l condition of 4a3 per cent mont : later. with the probable yield drop
 ping with if from above S,0oo.oo
 bales to a little more than I.ooo,oo , bales-and even this estimate Is prop ' ably far too high.
 : A fourth important reason is tha
 the mills. having for some reaso , not seen the shortage coming. hay
 contracted their output In many case . far ahead. without having purchase 2 the cotton with which 10 manufactur \ the goods at the time cotton wa z cheap, and are now being compehe . to buy to i'll out their orders. "Altogether, from my own observs < tons and from the observations ! many of my old friends and acauain'
 ances down South who are cotton c,
 perts. | believe the outlook to be mo-
 hopeful for fair prices for cotton {
 all sorts. 4 month ago good ae
 thorsties were predicting % cent col
 ton by the first Of the year. and it hs
 passed that already. Now they al n psrdictlng 25 cent short cotton in Il - | near future.
 "Naturaliv. the price for Pima h. !, nof shown the startling rise show "a hy short cotton. Fluctuations
 staple cotton are always slower, af {, fl win take little while for our oN !. i market to fully respond. HowfFs . there is quite g difference hrtws' 70 faIkiue about q ss cent sale being s big thing ten days ago 10 q sale n No actually made by Calder 'e Richmond yesterday at SS cents. n. Boston. and reported by their loe
 representative. NJ. r. Smith. r. Many things are eucouraEinK Tn South to an awakening of activities sd all tEnea The success Of the ( .s operative marketing associations 'd getting financed by the governms' a ! tho rise in the value of cotton. x- pollcv adopted hy the farm hurs
 10 follow the lead Of other orEanis sii tiors Tn keeping down the 'one cro A- Idea and encouraging the pro8ucti