Douglas daily dispatch., 1927-09-17
COTTON PRICE.
TREND REPORT.
IS PROHIBITED.
After Longest Cabinet tSes-
sion Held by Coolidge,
Bar Raised.
PLAN EXPLAINED
Jardine Says Statement
Was Based on Statistics !;
No Forecast.


WASHINGTON, Sept. 16 tP)--Pre-
cipitating the longest cabinet session
since President Coolidge took office,
the south's protest against the gov
ernment report, which yesterday sent
the cotton market tunlbling $3.50 a
oale, resulted today in an order from
Secretary Jardine prohibiting future
predictions of price trends by depart
ment of agriculture officials.
The cabinet session, which lasted
more than two hours, was followed by
announcement late in the day at the
White House that Mr.. Coolidge re-
cards as hazardous the predictions by
government departments on the posi-
Die trend of prices.
d However, it was said, the chief exc
cutive will leave the handling of the
cotton situation to the department of
agriculture.
Mr. Jardine remained with the
president long after others of the Of
sicial family had departed, and then
went back to his office to rescind
statement to the press which had been
prepared before the cabinet meeting
and held for release on his return 1t
was replaced by a statement announc-
ng the secretarys decision.
The original statement, which did
lot reach the public, made no refer
ence to future policy, merely outlining
conditions under which the bureau of
agriculture economics report of yeSter-
lay was made and insisting the wide
spread quotation of part of the re-
port had unduly disturbed the specu-
tatiVe markets"
In announcing the restriction placed
lpon the bureau of economics, Secre-
tary Jardine conforned to demands
from cotton producers, EXPRESSED
through Senators Caraway, Arkansas;
Sheppard, Texas; and Harris of
Georgia and others. All three insisted
chat the bureau confine itself to actual
statistics and under no circumstances
make conjectures as to the future
5rend of prices.
Senator Harris also demanded i'm
mediate discharge of the employe re-
sponSible for the cotton price state
ment but it was declared at Mr.. jar
lines office that no such action would
be taken.
"The statement" Mr.. Jardine said,
"was based upon statistics represent
ing production, world stocks, con-
sumption and the usual relation of the
prospective supply to price. 1t was
not special price forecast. Similar
statements on the price situation for
the major farm commodities have been
prepared monthly for two years by
the department for the aid of farmers
in planning their marketing sd pro-
duction programs"
simultaneously with Mr.. oardine's
decision an order was broadcast for
bidding future release OF department
news except through the agricultural
press service Heads of the economics
bureau, called before the secretary
prior to the cabinet meeting, declared
the cotton statement was not intended
for the press, but rather for cotton
co-operatives and other persons who
would understand its meaning"
Frank discussion of indicated price
ErendS, the department held, is of i'm
measurable benefit to producers but it
now is apparent it wasa dded, the gen.
eral public is not prepared to protect
itself against persons who use the
information for unfair advantage"
NEW ORLEANS, Sept. 16 tP-A
second precipitous descent of cotton
prices was checked at the end of the
market today by the announcement
from Washington by Secretary of Ayr
culture Jardine that the department
would issue no more price trend pre-
dictions.
This announcement together with
statement attributed to him to the
effect that he considered cotton in
strong position brought a closing rally
which carried prices to levels 9 to 16
points below yesterdays close, little
over Sc below the position from which
they we're jostled yesterday by the de-
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