Newspapers / Washington Daily News (Washington, … / Nov. 5, 1909, edition 1 / Page 7
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'?* Hayne Says 15 > Cents i& Too ? " Cheap for Cotton i ""Mr. Frank Br. Hayne, who bM lab ored consistently for higher cotton prtc? thla season has outlined the reasons why he Is bullish oii tUe m?r ket at -16~cents, aa fottoin; J When , the government bureaerre port, issued on August 2, showed a condition of 71.9 per cent, 1 felt con vinced the crop could not possibly *??*>! HS,^Aa|ftn^ bat? , mna that - ton - ww far below its real vrflue. When the government report, issued Qn September 2, showed a con dltjon of 63.7 per cent, I felt satls fled that li.boO.UUU Dales was the maximum possible for the crop and at that time received a telegram from - ? Mr. J. N. Vn^r, 4>f New Qrleaqp, asking Mr. W. P. Brown and myself to telegraph him in full our viewB on the situation.-. Mr. Brow.n was absent so i repkiea to Mr. Wittier by tele-, graph as follows: ? - "We-4o?k' at the situation as fol lows: Discounting every favorable condition that can arise until Decem h?r 1 fha ipnMMt ?1M>rt indl cates a maximum crop of 11,260,000, * and with unfavorable conditions might easily be l.Oj^OO bales less. Consumption last year 13,100,000, In sfllte of short time in England and continent. With largest American crop ever produced the price ad vanced $20 a bale while being mar keted and the visible supply 1b far certainty that 13.500,000 will really be heeded by the country and that probably less than 11 ,?00,000 will' be grown an eventual advance is simply unavoidable. 'Under normal condi / tions the market should have certain ly advanced to thirteen cents yester-j day, but Was kept down by the enor-| . mous selling of the bear clique. These sellers base their action on the sup posed helplessness of the .South,1 thinking the 8outh will be forced to sell Its cotton at any price the spin ners are willing to-take it,at. We consider that the competition be-j tween spinners who will certainly re quire . 1 ,100,000 bales monthly, will ? taketcaTe of this-sorcallcd distressed cotton. If the bankers of the South will help the farmer to martcct his cotton slowly, we firmly believe It will be worth fifteen cents in the next sixty days. The weaknes3 U) ' our opinion of the bears' argument is ?*!??*, although jfre producer may be foolish enough to be willing to sell his cotton far below its actual v&lue, we hardly think that the spinner will be foolish enough, when he fujly realizes 4he facts of the case, not to b tart buying freely *t these prices and thutf 4roid the scramble for spot cotton that will surely take place some time during the iea?on." " The,-jJou4h?nr tarmer has sold at lesjg^ g.frOQ.OQO balegof cotton on whlcfr -he-r eattiwl probably I8S0 .000, It was very hard to ^onrinoe the fsrmer that twelve cents was not an extreme price ror bis product, but through the efforts' of a few South ern men, they $aally realised the fact &aTThe? were sacrificing their cot" ton? end I believe that at least $50, 000,000 more has been obtained for the cotton marketed to date than would have been If It had not been for the efforts of this small coterie of Southern men. My prediction on September 3 of flfteeh ceuts" m tne near alsty days has now come i'rue. but at that time J.. thought the crop would be from 11, 260,000 bales to 11.500,000 Uajes. 1 now feel confident that the maximum for-this- crop Is 10,750,000 bales, the probability it that. It will be under 10,500,000 bales; and there is a pos sibility of Its not reaching 10,000,000 bales. Under the present conditions I now feel that fifteen cenls ls as (much too cheap for cotton as twelve and a half Cents seemed to mo on Heiuember 3. , . I gi\e telow some figures that may tion of American cotton: _ Consumed. T'l Crop. 1908-09. . 7 "13,157,000 13.825,457 1907-0 8 12ril2,000. 11,671.3.86 1908-0 7 12.dli.000 ltftlMtf 1903-06.... 12.166.000 1 1.3 45,988 190 1-05 tl.S38.000 13.585.885 1903-04 10.083.000 10, 011.374 ? laeyease ? In ? rntinimpt^n since 4903-04. 3.024,000 bales, or 30.49 per cent. ^ vLav Average crojj^jiix^vcars . . . 1^. 303-, 000 Average ydffrly cons (imp- ? tion six years. . 11,994.000 Average crop paBt three years ' l2.9G9.460l Average consumption past ?three" years 12.627.000 1 Consumption past three years in-, eludes two panicky years. *? World's cotton sprindles: 1904 1 1 3.80(MH)0 j 1909.. 1 132.800.000 i Increase in five years. . . J9.00J>.000 I It will be seen from the above fig ' ures that ia_ 1903-04. known as the "Sully Year," the crop was 10,011, [U00 DKles, and tne consumption only 10,083,000 bales, and that laBt year 1 the consumptiotrchad Increased 3. j 074.000 bales, or 30.49 per cent. The visible supply on the 1st of Septem |ber,*thls season, was 1,472,000. and' 'on tne li?l Of SupUiinben -l005r*as 517,000 bales, or Only 355,000 balea less, therefore, in the "Sully Year"' ^ith a visible supply on September 1 of- 517,000 -bales and a crop of 10, 01 1.090 bales. the world had lO.Stt. 000 balee of cotton, of which they uaed 10.083,000 bale*. The vitlble mppty on the l?t of 8?ptember tbU year Wat 1. 471,000 beles. II the crop''snould-oclr prove 10.500700.Q ?rassr the world will have a supply! of only 11.971,000 bales, while last year It actually consumed in spite of short lime In ? England ? 9;157,000 bales, or a deficit of 1. 105,000 b*leB. Why, If In the "Sully Year" the crop "H53 oulj. Lev n? 7 .500.QJM) bales to 8,000,000 bales, the situation would not-be-as acute as It will be if this crop omy turns out 10,500i000~b*le?. yet in that year cotton sold for over 18 cents. ? If every American mill was 10 run naif- time irom bow until the end of the season, I do not con sider there would beTehough cottorr to go around." " * The spinners' takings to October 29. this year, were 1,923,000 bales, against only 1,801,000 bales same time last year (which had been the -record takings of any year up to that time) and against .1.148,000 bales the same time in l?03-04. Who can tell what price win dis count the above faete? I AItM|\$ BY HABIT. Habit frequently continues a type ft f farming In n fftmm.rntty lon^ that type has become unprofitable. Wheat farming on fertile virgin hoII is usually profitable, but . there are many instances in the United States -wjiere' farmers have continued to grow wheat for_a_ number of years after It had ceased to b^?a profitable crop. The same is tflie of cotton. A two-year rotation of corn and oats has been continued- Iff po"rtions or the corn belt, notwithstanding the fact that it is often unprofitable,' little or aQJimnfiy being made on "either crop. Frequently these unprofitable *types of farming continue through a series of years of until the property changes hands or new methods a reintro duced. The farijj^r finds it hard to change a lifelong habit. Ml'KT tXJLlOW HIS POLICY* The defeat by a narrojy margin of A Large and Well Assorte d Line of ? BOOKS - For Boys and Girls. ^MrBrHARDtNG Picture ErSmes to Order. Major Tom Johnson of Cleveland who to now completing hi? fourtt successive term, brings to a atop ar. extraordinary career. Whatever ma> be said of him as an expert In prac a long series of battles In wlnnln* something near their fights for tb< | people of Cleveland. The Republ ?tin h??. ^yg*?f him all these yegrs, and at times with th? open assistance of President Roo?e veil, ha*e t>een forced "virtually tc adopt his position on lower street railway fares. The Republican Mayor who succeeds him, la the main mum follow Johnson's policy. ? New York World.. EXPOSURE 7~ breeds colds, paint in the Inngs, then pneumohia. Gowan't Prep aration k>tc* quick relief by de stroying inflaty mat ion and con gestion. 'Acts like atagic for croup and coturha. External and" penetrating. Buy today and fcel secure. Alldruggists. $1.00, 50c, W When tfieTMIdren Are STUDYING mmmm - >? ? |Y0U SHOULD GIVE THEM? jTHE BEST - LIGHT TO WORK BY AND THAT IS ELECTRICITY WASHINGTON ELECTRIC PLANT. JUST ARRIVED WHOLE WHEAT FLOl"R?GRA HAM FLOUR^ FLAPJACK PAN CAKE FLOI'R, AND CRACKED WHEAT. Walter Credle & GO. WE HAVE A FULL LINE OF OPERA CAPES Sirffff n?n from H tfa 54 incbeo^JThe asso "tment is varied, ami you will have a perfect range of colors to select from. Andth^-prices are reasonable. Our line of Ladies' Coat Suits is admitted to be per fect. StdfTIa and see it? we'ir value your criticism. I Yotr ?will feel at home in otir store. The attendance is instructed not to try to sell you anything you do hot want, and everyone is I very polite. SPENCER BROS. i EVERY BOTTLB OF NVAL'S KIDNEY PILLS ARE GVARAN iwiir-mfrGivE perfect SATISFACTION. THERE IS NOTHING BETTER IN THE TREATMENT OF DIS EASES OF THE" KIDNEY AND URINARY ORGANS. ? KKUttUUER THE NAME ? ' nyal*s. WASHINGTON DRUG COMPANY FRESH ARRIVALS: Big Hominy, Breakfast Hominy Grits, Old Fashion Buckwheat Flour, light and dark; Graham Flour, Whole Wheat Flour and everything in latest cereals. Neufchatel, Pineapple and Edam Cheese. A full line of Dried ai'd Evaporated Fruits. 'Phone us your wants, for quality. s J, F. TAYLOE 1.-; . -EAST CAROLINA I Teachers' Training School ? & Established and maintained hy th<* State lot the young men and women who wish to qualify themselves for the* profession .? of teaching. Buildings and equipment new anrl '-4 of teaching. Buildings and equipment new and modern1 "sa'nl" tation perfect7 | ^r_ - SESSION OPENS OCTOBER 5TH. 1909. Fop prospectus end information, address ROBT. H. WRIGHT. ?3 President, OI?I!U>1I1b. N. C. ? ,575r'5',"f i-s SELECTING A fcOOR |N Mlcctlng a Coo I to Inquire m to ( of cooUagTTB atiou should be given you* baker. Fatter, who h*e had IS.. Germany. He ia in every way quail fled to do your baking. From the Dixie wagon you are aervcd with clean, w hoiesome food. An impac tion of our plan t At ?ny time In in vlted. W. J. RHODES, Proprietor of Dixie Bakery. ? rsn coin t ? ?? ? Walk er Ride. Talk Over The Telephone. You can have a Telephone pui In your house in the city or at your farm at a very sur passingly low cost, and nave many a long drive and per haps a life by being in direct and instantaneous touch wttb your Doctor, Grocer, Mer chant and Brok. r. Weather reports and mar ket quotations (fan be secured daily. Inte.-cstcd parties arc re quested to eommonicaic with Mr. D. W. Bell, M'g'i CAROLINA TEL. AND TEL. CO., Washington, N. 'C. This proposition will inter* est yon. and it would be well to investigate before the ap I? ? proach the cold Winter 1 HIGHEST CASH THICKS paid for CHICKENS, EGGS COUNTRY PRODUCE We carry Hay, Grain and all kinds Feedstuff ? We handle the very best Ftonr ?? wliulo sale. PAttfc & CUTLER east water street. E. PETERSON (E0MPANY 1 CAR 40,000 POINDS CANDY Round SticRT Squat e Stick, Candy Dice, Candy Balls, Peanut Stick, * Candy Kisses, Cocoanut Jap, Bon Bons, Fancy Mixed, )anut 1c Mixed, ; ' Chocolate Drops, ve Drops, 1500 Boxes Penny Candies iie urc Washington, N. C. Voight's Royal ' ' ? ? Snow Drift Stock's Patent Stock's Diadem ? V,; Mixed Nuts, Brazil Nuts, Seeded Raisins, yidon Layer Raisins, Evaporated Peaches, California Prunes, j Evaporated Apples, Dried Apples, Dried Figs 500 Full Cream Cheese, 500 Doz. Market Baskets, 3500 Sacks of 140-Pound t 1 Ground Alum Salt 1 Car Grandma Powders, 1 Car White House Vine gar, 1 Car of Paper and Paper Sacks White Frost, in Wood or in Bags. of Canned Vegetables, Fruits and Jellies. - ? . e have complete and heavy stocks; caftgive youprompt shipment and solicit your business. Xi, ??} ? " - ? - ~~ i -'?><! ? I r'ti-i/i t-.il :-i
Washington Daily News (Washington, N.C.)
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Nov. 5, 1909, edition 1
7
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