The Birmingham age-herald., 1921-10-28

l 5. Wannamaker of South Carolina,
 The association opens this conver ment, crop diyersification and org, accomplished that points to perma velopment into 3. machinery that wi ton product, name the price and wa
 Forenoon Session.
 The forenoon session of the con vention found the ballroom of tn, Tutwiler hotel filled with delegates who are bankers, planters, mill men warehouse men and experts in every phase of the cotton industry Oscar Wells, president of the First National bank, welcomed the visitors in the name of the Chamber of Com merce and the city of Birmin gham whose interest in agriculture he con vincingly voiced. He was followed by Sidney J. Bowie, who spoke of the importance of cities as consumers of ! the products of the farm. The final address of welcome was delivered by Dr. Frank Willis Barnett, and was SC mingled with wit aIM humor along with the serious as to delight the audience and elicit rounds of ap- plause.
 John M. McGrath of Mississippi re- sponded to the addresses of welcome He declared that if the proper steps were taken to regulate production and market the 1922 cotton crop the south would be in splendid shape financially, but if 1t were not done it would be in the same bad fix as In the fall of 1920.
 The appeal for reduced acreage drew a hearty round of applause throughout the audience.
 Bankers and cotton oil men can help lot. said the speaker If mer- chants and all coordinate efforts the south can protect itself and serve the country through a system of safe and sane farming.
 pr. H. M. Edmonds opened the ex- ercises with prayer, in which he referred with feeling to the mission of cotton as fulfilling one of the scripture inJunctions by clothing the world.
 Crop Forecast
 Following the welcoming exer- cises. President Wanamaker deliv- cred his address, which consisted of portions of his annual report, a doc ument covering all phases of the cotton situation. In the course of his address he announced the forecast of the cotton crop of this year made by the cotton association which is as follows:
 Grand total, s.4s7,7oo bales, with state quotas as follows Alabama, 477,750; Arizona, 45,O00; Arkansas, 623,0oo; California, 6s,o0e; Florida, 15,T5o; Georgia. s97.ooo; Louisiana, 237. 900; Mississippi, 635,000; Missouri, 46,90o; North Carolina, .574.500; Okla
  800; Tennessee 216,0oo: Texas. l,772,- 500; Virginia 10000; all others. 1000.
 The total carry-over of government estimate of August 1 was 4.S4o359 bales in warehouses, congresses, etc, of which 1,161, 1,000. or 24 per cent, was untenderable; 1.65S.749 on farms and elsewhere, of which 223, ,000,9 ,93t, or 13 per cent, was untenderable. The total carry-over amounted to S,499,- 1o9 bales, of which 1,Ss5,s17 bales vera untenderable. leaving a net carry-oyer> of tenderable cotton of 5,lf3, 491 bales.
 With net tenderable carry-over of 5,113,451 bales and the 1921 estimate of 6,427,700 bales, the association finds total available stocks In the country to be 11,541,Is1 bales.
 Consumption Estimates
 Estimated American and Canadian consumption to August, 1922, Is fig ured at 5.50o.00o, and estimated de- mand for exports to August 1, 1922, is figured at 6,500,00o bales making total of estimated consumption up to August 1, 1922. of 12,000,000 bales, which is 45S,S09 bales more than the available net tenderable supplies, ac- cording to the figures of the associa- tion, which, therefore, places the net deficit in supplies at 45s,s09 bales.
 Spinners and Exports
 The reports of the association show improvement In the spinning industry, the home consumption be- ing 5,S20,000 bales a year. Exports of September were at the rate of 6 6,2T6.000 bales year. The associa- ton regards It's forecast of the con- sumption for the 12 months as a one. based on state of spinning industry and exports.
 Causes ofNSmall Yield
 Causes of the small cotton yield in 1921 are assigned as follows:
 Thirty per cent acreage reduction, non-use of fertilizers, widespread de- structi6n by boil weevil. Low yield of lint per acre has increased cost of production.
 FreSeHt marKet vaIue Ol cotton IS less than 1t should be, based on the legitimate laws of supply and de- mand. Rapid marketing this season has prevented proper function of the laws of supply and demand. Con tinued pressure of spot cotton on the market has defeated effort to se- cure Legitimate values and leaves the market lat mercy of depressing "e
 The association, through report of secretary, Harvie Jordan, declares that amount of the surplus or un- consumed cotton fixes the price for the ensuing year. The regulation of cotton production each year must be based on conservative forecast of the actual needs of consumption for a 12 months period" This Is the problem that rests on shoulders of the growers. the merchants and the bankers.
 Some Notabics Absent
 Interest in this convention is world wide. Among the telegrams expressing regret over inability to attend or send delegates is one From