The Union daily times. [volume] (Union, S.C.) 1918-current, 1922-11-06
Some Domestic and Foreign
|. Mill Men Are Liable to
Get Badly Hurt
New York, Nov. 2, 1922.

Most all deductions are arrived at
through comparisons. Too many are
now figuring that cotton is too high
simply because it sold at much lower
levels in the past. Conditions are now
entirely different than at any other
time in history. For six or seven
years the people of the world have
bren buying cotton fabrics sparingly-
kind of hand d-to-mouth-like until to-
day the necessity for them is more
than acute. Now, let as get right
Gown to brass tacks and talk common
eenee. First, let us relate that Col.
Harvie Jordan, secretary of the
american Cotton Association, and a
personal friend of the writer of many
years. standing, came to see us two
days ago. He is probably the best
posted man on cotton in he world.
Below we give you in substance ex-
actly what he said to us in part:
"Cotton is the greatest asset of this
hutton, but conditions among cotton
growers are deplorable now. 1t cost
24A cents per pound to grow cotton
this year. The day of figuring cot
ton raising on a slave-labor-basis is
gone. The grower is entitled to 5 or 6
cents profit above the cost of produc-
ton. Sixty-fve per cent of cotton
is grown by tenants or share-crop-
pers. They are leaving the farms by
the thousands because they cannot
make a living, and there are no new
laborers to take their places. The boil
weevil are getting worse with no re-
lief in sight. In 1920 South Carolina
produced 100000 bales. This year
she will raise less than 100000 bales.
This means loss of $100,OOO,O00 in
actual gold for this one state alone
it's gone. The American Cotton
Growers Association'-now operating
successfully in 10 state-started it's
Lolding movement one month sago.
They are not selling a bale and won't
until the price is we'll above 25c. I
will not sell my own cotton under
8Oc."
Up to October Gath, the percentage
of deterioration was 0.8 per cent
from the condition report Of 52.5 a
month previous. Last year there was
loss of Ia per cent from a condi-
ton of 44.7. The ten year average
deterioration at this time has been
3.4 per cent. The next government
ginning report will be issued next
Wednesday-Nov.' 9Th. Farmers who
arc not members of the associat ton
have sold their cotton as fast as
ginned, yet the demand has swallowed
it at steadily advancing price. Man
ufaturers are facing an embarrass-
ing situation. They need cotton bad
~, having hold goods freely, and
many Of them here and in England
have not covered with either the ac-
tual or futures. They better not take
too many chances! The Liverpool
stock of American cotton is now only
100000 bales as compared with 49,
900 bales year ago-a clean de-
crease of $4,000 bales.
Weakness in the stock market and
political anxiety here and abroad
caused the recent reaction, but re-
member these disturbances do not
add one bale to the cotton crop ofI
this season. The amount Of cotton
carried over in the worlds supplies
on July 3lst, 1921, was 9,600,00O|
bales. The world consumption last
year was 12,800,000, the result being
that the present season-beginning
August 1st-started with a carry
over of only 100000 bales. Add to
this carry-over this seasons estimat-
ed crop of 100000 bales, then de-
duct the same consumption as of a
year-12,800,0 bales-and you will
get carry-over for July 31st, 1923
Of 100000 bales. From a consum-
cr's standpoint this amount is alarm
ingly low.
Our final conclusion is that cotton
"a fn