Newspapers / The Charlotte Observer (Charlotte, … / Jan. 16, 1909, edition 1 / Page 10
Part of The Charlotte Observer (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
10 CHARLOTTK DAILY OBSERVfJR, JANUARY 16, 1909. MILLS AND FLUCTUATIONS IN COTTON IlKYItW OF KAW COTTON TKM)i:. Comprelieiiie Resume of the Mine mrnt of Cotton During the Season Xunilx-r tf Cuuce I'rodm el tlic le rline In Irln- 1-Jroni Mtih-li ihe Market Is Just Hefrliitilii lit c-i-er Higher Prit es Kxirenii-I Like ly Argument in lor l llulli-h-liesn The Southern Plainer I- Im provident -Other 'imniKllil-- In ereawe in Irlre Out of Prri!ii to the staple Crop Prli-c. In Its late review numln-r Th- Tex tile Manufacturers' J..;jrnM ntains a most Interesting ind en lightening article on the flur-tim t ion - in the prhe of raw cotton (luring the pant ear, tracing the varing muff hi-h su perinduced ;he d.- lim in jim-es and assigning w ell-dem.-l tfawni for tha likelihood c r bem-r niiir.-s in the fu ture. The article is hf follow? That the iipniT.i ! d tritde condi tions of the i.i,M ear and the almost stead)' dec I ;i. iiiifs h.ive created a situation m the i ottmi market which juomi- s .i period of rnnstantly j increamng a. tnit and pine imp ! ment. has u ri 1 i 1 t ed ly heen ipilte .. general opinion in trade as v.-ll as speculative circles, hut development toward the clo-e ,,i the ye.ir appeareii tn be raising a question as to whether there had not heen a premature ex- . pression "f t'u.-i confidence m ultimate I results through t tie medium of spec ulation in both spot cotton and c mi tracts. KAIil.Y SK.VTIMKNT.M, HCU.ISH NES.'t. From the high prices wln-h were current at the beginning of the rot ton trade seison. 1907-OS. when cot ton in the interior of the South was. felling around 12 to 13 .-cntri. quota tion have declined until during the past fortnight. They angeii l.ctween 1 and H cents in the interior and from above 12 1-2 cents early in September. 107. Contract In the New Vmk market have declined to around 1-4 ents. The season ot 1907-n started with sentiment bullish on the general Hctivin of mills even though condi tions, ow ing to ov er production, were already shaping themselves for the business depression which followed the financial panic and as a result of the moderate crop outlook. Hut the high prices at which the crop started to be marketed yielded) with tbe de velopment of the hanking troubles, and while in .January there was a brief revival of bullish sentiment, as result of ap easier money market, the spread of business depression abroad and the slowness of the re covery from the acute phases in tho domestic goods situation, soon halted the advance, and with the eveptlon ot another brief advamc during the spririR as a result of mil a vora hie re j et.ardlng the start of the crop - : . sections, the declnng tenden . i ' ;i - not . h-i ked intil early in ' .er. , is level investment buying "f both spots and contrails entered (he market, and while accumulating Indi cations of a la-ge crop led to another setbar k earl) 'In October the record breaking absorption of Southern of ferings again came to the support of the market, and by the-nd of Novem ber pne.-s were nearly a c ent up from the lowest, in spite of a continued heavy movement. Hut the prediction of a rapid increase in trade demand following the presidential election was not fulfilled. Kuropean trade conditions did not mend much with the s.-ttlonient of the Liverpool strike, and during December the New York market lost most t( Its gam. while spit cotton sold at the lowest level of the season, owmi; to a falling off in trade deman I and continued free of fences from the South. Mi L-lr"lvTI' . "1'" HI LI- SKNTI M K.V. . It li.is been the laMing off in the de mand tor spot supplies in the South during the month ol In-, ember, and thf i action in temlrni v of the mar ket resulting from tin failure ..( the nullum mirkef- to respond to bull ish overtures on the pari o specula tion, that ha. cau-ed tlo modera tion of bullish sintllilrnt inenllolird Sbl.ve It IS appHhrnded fol 111 Mance thai the enornion-. I.iiwni; ol pot ,..ttn si:u e the beginning i f the tii-n i t op in ment ii.ts lo'i n lciu;el for ! be a "c ut " n h,, n i s a rid ninl tililllPll 111 ill!!1 I J .11 ' 1 wo-lid begin noi'lin four or m in 1 1 1 on marketed a n 'i .i Iso a 0 ,!!. k er r . i a I in tlmn has m i f er i 1 1 ii t h 1 1 111.' Sout h a'ler t(nc tirst ball , hail been I .1 II t 1. , ' i t lo of gr Hi l a i business I a nd that with ers tilled up and t hes. " v -t no s b the South oi,i :i ill a It bera ' bf such that II further ti'iunl,'-' prn e level b lot. merit .an ii --I hand t hose w bo i io isv t'n air.i around prescn: mint basi- b. ;o In spot 1 1 1 f 1 1 n ' the usua lall. IV. ce'l rig the lo Mi! , f a r will 1-t : n - v demand Iriii rn lime ti r o 1 tlo- " Sou t il in the -la able to hold n nng to offer cotton tne otinitioii m a re nil; b.i v to be u and .1 still lower all. tea, bull rn" V e i in the ot her remain true to pr'e iniloris I li.it i otto 11 . - ;s on ill in V est -to il ilie r.rent lull - ed.- t. .1 merel v ,f ,:, o , -mess pre s .. CO till' the lie w th :t i tire better ; . - r o i i the same ..ii '.one o r i g in the j ..( pe od- belter tiik i-mr The , rop u.o ending Sept.-m bale-. .i i "I'll 1 1- i u n : n v i; sc i. ,e sPlUjnll rk.t luring tie er 1st w as 1 1 eg to the tig ,re TI.Ttf.6 ol thi Internationa; spi world' spinners bales e,s of Am reason than ih. withstanding tin was more or ;, . usrv 1st. I''" nners J-'edei a t n-n t he took some '..llfl.l.llO ei i, in cotton for the v ,o t la i I v used . not -.o t tii.tt short time ess g- ro (a! after Jan lb ,i- red :n lllg t heir t tnat evtent. and the of American cotton at I'tocks to ab vlsilde suppl the end ot August was ! 7 .". . i 0 0 hales In round numbers, against 1 ..'Kti,tiu0 I balea for the isame time the previous reason. The cotton season beginning with th" nrst of last September th re- ! fore. Btarted with stocks of raw cot- ' ton in the hands of .-pinners about , lift 000 bales behind those of the pre- i vloim year and with a v isible supply j of American cotton about 400.000 bales less thin last vear. At the ; as me time, and while no trustworthy ! data exist as to these matter. It j waa generally believed and i still I tnore or less Kenerally conceded, that , th curtailment In the production of : cotton foods during the winter. ! pring and Mitimer of JS0S had been ! accompanied by a very aeolded reduc- Hon In the volume 1 goods In the ' hand of lobber and retailers. The i AAWkM wut tsrtfnir with mills resuming operations on a more nor ma.) awhedule. and with an eaay finan cial situation followingt the cleaning out ot tbe previous autumn, while so far as this country was concerned, the farmers had produced Urge grain crops, for which they were securing very high prices. ' JiRGX?3$ZXT8, fOH BULUBHXE8a Tbia. Ohhi formed the cbasia tor the supporf ' wMch..de,eloje4 around the Jow prlcw f the early aqtonrn. It was argued that no natter how large MARKETS the crop of American cotton might be there Would be a demand for every bale of It at the price, and while -peoulatlve sentiment in the New York market continued bearish until near . the middle of October, everv de cline brought about by operations in futures was promptly checked by the stability of the Southern markets, while the strengthening of the New Vork contract, as a result of the Sep tember and November revisions, fi nally discouraged bearish ' perations for the time being. Undoubtedly, the demand for spec ulation which .supported the market during the logical period of depres sion that Is. during the time when the new crop should be the greatest weight upon prices -was partly due to the fact that the cotton ottering was of such excellent grade and sta ple, and that the premiums on the better grades were so small, as com pared with recent years. Cotton that v as selling, say 10 cents a pound over middling in 1 907, was offered at some thing like 4 rents a pound over mid dim, so that the dei line on these prudes was even greater than that shown by the uuotatlons for middling cotton and contra' ts. and there can be little doubt that they were bought very freely and shipped to ware houses at consuming points, here and abroad to be held until required. MvW CHP MdVKMKNT. SEl'TKM-HKK-IiKOKMHKR. Heginnuig with September 1st the new i rop in-iv ement up to the middle ot December lias approximated 7.713 40.'. bales, against o. 917.11a bales for the same time last vear. and spin ners takings during this eriod have bi-'-n 4. .144.. 114 bales, against 3,713,401 bales lor the same time last year. And t ight In re It should be noted that the liguies given as spinners' takings are nt uitualh spinners'" takings, but ii.tton taken out of the visible imp plv tor anv purpose whatever, and either received by spinners or placed in uncounted warehouses. Roth tho into sight so fat for the season and the takings are the largest on rec ord. In 1904. Die first year when the vield was over 13.000. 000 bales, the Into-sight up to this time was 7.471. 00(1 bales and takings were 4. 042.000 hals. These ilgures certainly suggest that the cotton taken has represented much more than tin- mills have re quired during the period, and tend to confirm the opinion that a great deal of It has heen purchased fos Invest ment. The falling off In demand since December 1st suggests that Investors ! satisfied with their present hold ings, while the attitude of the South suggests thai thero is idill plenty of cotton available, and the question of the immediate) future as to whether the demand from spinners will Im prove sultli iently to ahsorh further Southern otTerlngs at llu- present level of prices, or to aid in an advance should the South start a holding movement. The null Is not likely to liml much competition In the South, for the Investor Is already rilled uh, with the better grades the cream of the crop, neither Is the South likely to find oflcrings troin these buyers competing to Mil the demand from spinners except at an advance, and it would seem that much may depend in respect to the market for the next three months on whether there Is trie abrupt falling off In the movement hat will be necessary If the govern ments estimate of the crop at 12.920. 000 hales, exclusive of linters, is not a mis-statement of the yield. HlCIIEK PRICF-S I'.XTK KM I-.IjY M KICKY. Taking a broader view of the future, very strong arguments are available in favor of ultimately higher prices. In the first place people who are in a position to know of such matters, i I a I m that cotton between S ' and 9 cents In the South Is not a satisfactory rop. They claim that at such a price the actual margin is not as much as it was several years ago at 6 cents. In this connection II is pointed out that corn Is now selling at from Ko to 70 i cuts a bushel, which during the vears of low cotton prices could be secured from Kansas by the cotton planter at a rust of about 2.'i to 3D cents, that a good mule could then I... bought for. say 1125. would nm . ost about 122.7; that Hour has ad vanced about 100 per cent.; that there has been 11 similar advance In pro visions, that labor is higher, In fact, that evervthing put Into the making ot tin- crop costs more, while diversi licition of crops Is better understood and likely to be more Importantly fol lowed. In other words, the bull of to day belli v i-s that unless there Is an a.l van. e in the prn i- of cotton between now and the next planting season the acreage will be reduced, for which re do, tlon. he points out. there Is a Pie. clent following a season of low pre is. W lo n. in addition to this, he believes that stocks of manufactured goods an- not burdensome, that -pinners reserves have been allowed to run down materially, and It Is com rneri la, history that such periods of depression as the trade has Just passed through, are usually followed by a boom, which Is all the healthier for a gradual development, his purchases of the next crop in Diverpool. New Y'ork and New Orleans at prices meaning about cents or lower In the South, an- e.isilv understood. And In pass ing it may be stated that more than one Southern planter is buying con tra, is along these lirrs, and Is looking to these contracts rather than to his cotton crop of next seison for his In i ome. TIIK S iI'THKRX PLANTER IM PR( V1DKNT. i in the whole, the events of the past vear have a tendency to show that Southern planters as a class are not provident. After several seasons of verv remunerative prices, the South started maj-fteting :he crop of this season In need of funds. The holding movement which was so pronounced in the Southwest at the opening of last season has not been in evidence. Some little holding for higher prices has been reported in the Kastern belt, but taking it as a whole the South has marketed ita cotton as rapidly as ever tn the history of the trade, notwith standing the mass meetings held for the purpose of inducing a refusal to market below 10 rents In the inte rior. Kor a time the night-riding movement caused some anxiety, but, fortunately for cotton growers, ap : ears to have passed over without . reaching any . Important: proportion. and w hile the price of cotton has been made ss It must be made under modern business method's on the plantation It has been made by the buyer rather than the grower. As this is written msll sdvlc-es reach the New York market thst Memphis nat urally will be in a better position to finance th remainder. Regardless of the past and future course of price, the year has, been a noteworthy one In the cotto4 trade, owing to the reforms that have been nuide, .or are under way, and which have grown out of the agitation against the various exchanges. This agitation hae resulted la a much bet ter understanding of the real func tions1 of the exchange as a gatherer and distributer of market Informa tion, as a protection to merchants through hedge business in futures, and it haii also set on foot an im provement in the management and j methods of the exchanges, while at the present time the Department of I Agriculture is w orking In the direc ; tion of establishing an official stand ard of grades, with a bill now in the j House directing that these standards , be made compulsory. Muc h confu ; sion has grow n out of the v ast differ ences In the gradesas put up in the various markets, and while such a thing as absolutely uniform grading of cotton with respect to body and staple, at an) rate, is probably impos sible, the establishment of official standards for white cotton should prove of great advantage in the trade generally. ( OAISSK YAKJk'S Wni'INi: YAKNS Southern Spinners Likely lo 4irt a Bad Iel In Tariff Adjustment I "Ilie Yarn .Men Will (iet rotecticn ami the Coarxc Yarn Spinners Will Not ( oare Yarn Mills In the Ma jority' In ilni Soiilli Mays and Means Committee Given Wronj; Impression of Southern Conditions. To the Kdltor nf The Observer. It looks to the writer as though the Southern cotton varn manufac turers are going tn get a bad deal In he tariff adjust merit. As the mat ter has been so far presented to the tariff commission. New Kngland Is looking after Its Interest and asking for an Increase In rule on tine yarns. If this Increase is granted It will al so protect the few fine varn spinners of the South, u.s well as the New Kngland spinners, but ttie bulk of the Southern yarns are coarse yarns, under 30s. and there seems to he no effort made whatever to Impress on the tariff luminlicsiun the ncce.ssilv of tariff protection for these coarse yarns. Now certainly cotton manu facturing In the Smith Is In Its in famy, as compared with New Kng- ' land, and If the tariff Is to protect 'infPnt industries. the coarse varn 'mills of ihe South .should have their i protection Mr i '. Ml not Weld. pr. s ! ident of the New Kngland c otton '' Yarn (otnpanv. presented a state ment to the ways and means com mittee, which statement said, up to the :'(i.s count, the old tariff was all right, above 20s. greater protection was desired The American Wool an I Cotton P.eporter of December 31st states that Mr Ii M Miller. Jr. representing the fine yarn spln nera ot the South, spoke along .sini liar lines us those followed by Mr I Weld and that he heartllv coincided i w-lt.h Mr. Weld's statement of the situation It therefore looks as though It were up to the- coarse varn 'spinners of the South to protect their ( Interest before the ways and ejeans 'committee. During the recent de j pression it was easier for the lino goods mills of the North and South i to operate than it was for the coarse goods mills, which makes it look as .though the coarse mills icrtainlv 'ned ss much tariff prot.-.tion as the tine mills. j Again, according to the writer's ' observation, during good times and ! ba I nmes tine good.s mills have been b to pay higher wages and make more minify or earfs dollar Invested than the coarse goods nulls Now, il the line goods mills, ' North and I South, are to secure additional pto 1 tectum, and the coarse goods mill secure nothing, the tine mills will ha.e Increased advantage in handling j tli- labor problem as compared with ;the coar.se goods mills Now. If the coarse good.s mills attempt to secure the increased tariff protection. they are going to have a harder fight ahead of them than the fine mills. ; Where are our coar.se Southern yarns j used They are used principally In N'evv Kngland. New York. Philadel phia Vnd (ihio, which section is he home of the protection idea, but ! thev do not want our coar se yarns protected because It would raise the cost of their i a vv material Th.-se i yarns go Into the making of carpets, ta pestry, upholsterv, low els. table cloths, curtains, etc. They also go in'.) mixtures of woolen goods and Worsted goods, etc Now the woolen and worsted manufacturers "f New Kngland. New Vork. Philadelphia and Ohio naturally want low-priced 'wool, and there is considerable agita tion for low tariff on wool because It enters Into the manufacture of their goods, ai.d naturallv thev ih 1 not want anv thing that w ould tend 'to increase the price of the coarse .cotton yarns entering into their pro-'dm-t As the matter now stands, ' the tine yarn manufacturers In the , North and Middle States will secure I Increased protection, and at th i same time buy our coaise v arus at ' the old low price?. Tariff revision Is a "log roiling" proposition where each section and : ea. h Industry must take care of i's Uivvn selfish interests or it will not be j taken care of Ncvt Kngland and 'the north Central States are pri I marllv manufacturing communities I mid they want high tariff on thclf ' manufactured product and low tariff j on their raw material such as hides 'for New Kngland to make hoots i and shoes out or; wool for New Kng i land New York, Philadelphia and I Ohio to make woolen and worsted goods out of; free lumber. because those same sections have cut off all their lumber; coarse cotton yams, because thesV yarns are raw material to the carpet manufacturers, the hos iery manufacturers. the tapestry miils, the towel mills, woolen and worsted manufacturers, etc. Now, w hv does not the coarse yarn manufacturer of the South need pro- i tectlon? Has not the rate oi wages i m coarse yarn millsNn the South. ! in,.i-aU.ari 15 to SO Der rent. In the I last ten years? i tnslment was In The last tariff ad- 189S and was ad- Justed for the then prevailing rate of wages. If our wages nave auvanceu I from 13 to 30 per cent, since 1898. the roarse yarn manufacturers neeu additional protection, and I re spectfully aubmit that It Is harder for a coarse yarn mill m the South to make money under present condi tions than it was ten years ago. when the last tariff revision was made. Now unless the coarse yarn spin ner of the South gets busy on thU proposition at once, he Is going to be left out In the cold. You will re member about two years ago when ConsV amended the Immigration laws, the manufacturers of the South got a cold deal, and all the satisfac tion we could get was the statement from some of our Southern Senator and Representatives that Senator Lodge, of Massachusetts, had fooled them as to the meaning of the new Immigration law. Mr. Weld'a statement aubmitted. to the ways and meana committee shows that the tariff on 25s. accord ing to the 1S8 laws, waa cental ana he wants this to be continued at cent, while he asks that the tariff on 10s and finer be advanced any where from IS to 40 cents. .Whet do the facts show ss regards importa tion of yarns T Mr. Weld'a atatement shows that In 18M 1S.14 pounde of !6s wera imported, while tn ' lfT 44. 017 pounds were Imported, an In crease la importation of 14$ per cent. What also do the facta show as to 30s? The tables show in 1198 1: pounds and in 107 ZSO.ISs pounds, or an Increase of per. cent. In Importation. If the 21 la creased 24 per cent., while the im portation ot) See Increased 20 per cent., why do Jos need an increase of tariff rate of 15 per cent, while 20s require no increased tariff rate? While this situation holds as regards 20s and 30s, the 'percentage of In crease is much higher on the finer counts, the Increase on number (Os amounting to CO per cent., the in crease on number 70s amounting to 70 per cent. As a coarse yarn spinner, I feel that It was all right for the fine yarn spinners to speak for themselves and ask for additional protection, pro vided they had left the matter open for the coarse yarn spinner to pre sent his own case; but as the matter now stands, the ways and means I committee has the statement of the I fine yarn spinner to the effect that the coarse yarn spinner needs no 'additional protection. I would like ' to hear your opinion, and the opln i ion of some of our coarse yarn spln ' ners, on the above proposition. HARD YARN SPINNER. MR. J. U KHTTS PI. AX. South Carolina Fanners Discussing New Scheme For Financing Cotton rop Repeal of I.leu law I"a- ored. Sieilal to The Observer. Anderson. 8. ('., Jan. 15. The An derson t'ounty Farmers' Union has elected the following officers to serve for the ensuing year; J. y. Douthlt, president; I,. S. Cllnkscales, vice president; S. A. Burns, secretary and treasurer; J. M. Broyles, door keep er, executive committee. IT. E. Beybt. J I' Glenn and J. M. Broyles; dele gates to State Pnion at Columbia .January 20th. S. A. Burns, J. B. Imuthit, Li. S. Cllnkscales, T. T. , U ..Icefield. J. Ii. Watson, j Much time at the annual meeting !was devoted to dl.scUHsion of the plan 'for financing the cotton crop that la 'being urged by Mr. 1 . L- Keltt, of I New berry, and the delegates to tho j State 1'nion were Instructed to favor jit in that body. The plan, in bjrf, provides for a fund to be raisel by levying an assessment of 10 cents a I b ilc , to be supplemented by loans of business men. the fund so raised I to he lused In holding off the mar ket all the "distressed " cotton, so that only one-twelfth of the estimat I ed crop may be put on the market in any one month The plan also ron- templates storing cotton In ware- houses so that the farmersf may. i through their business agents, deal directly with the mills. Instead of ' with the brokers. I The sentiment of the meeting was strongly In favor of the repeal of tho lien law, and the delegates to the State I'nion will mak themselves felt and h"Hrd on the matter They will be In Columbia while the Legis lature Is In session HKSTKH S COTTON RKPORT. Figure-. I'or llrst Half of Prenent Month Are Inclor Those For Same I'cilcicl IahI Year, Hut the Season Is Considerably Ahead of 1007 Supply to Date is B, 073, 182 Bales. New i ii'leattM. Jan. 15. -Secretary Hes ter's weekly cotton statement Issued to I day shows for tbe 15 class of January a (iecrease under last year of 31.000 bale, land a decrease under the ianie period I vear before last of '.IK.im For the IT? IdVvs of ti e season that have elupsed t lie I Aggregate l ahead of the same days o, 'last vear l.f.S.ori) and ahead of the sme davs year before last of 450.0.X1 i The amount brought Into sight during i the past week has lieen 308 3M bales against tH.t9 for the Kama seven days hist veni and 441. WW year before last. I The movement since September 1st shows teceipts at nil I'nlted States ports i.sfiT.:tl" against 6 61 903 last year; over- land across the Mississippi. Ohio and Po ! teniae rivers to Northern mills and fan ! aila ,2'r474 sgalnst 32S.413 last year; In ! tenor sticks In excess of those held at the close of the commercial year 7JS.04 a gainst 410 last year. Southern mills takings 1.07000 against 1.074,002 last year. These make the total movement since , September 1st 9,.l.S.ta against 7.434 214 last i cai- i Foreign exports for the week have heen ' ;,:i 417 against .Hd.ioi last year, making the total thus far for the season 5,276, 091 against 4.47io.:i!)7 last year The t dal takings of American mills, North. South and Canada thua far for the season have heen 2.tiK,.ts3 against 1. UlS.cKiii last year ; Stocks at the realsvard and the 29 lead i ing Soul! ern Interior centres have de : ci-ased during the week laS.sns bales against a decrease during the corre sponding period last season of R4.982. Including stocks left over at ports and Interior towns from the last crop and the ' number of balea brought Ir.to sight thus ' far from the new crop the supply to date is i;7.182 sgalnst 7.7S2.220 for the , pame period last year. H II A DSTREETS REVIKW. Spring Orders Are Being Booked am! the Outlook Mors, Favorable South a Little Backward. New York, Jan. 1 5c Bradstreefs to-morrow will say: Changes In the general business sit uation are largely favorable. Spring ordc rs are beJng placed In fairly liberal quantities at the larger East ern centres, and traveling salesmen are sending in conservatively optim istic reports. Exceptions to the quite general ruie of slow but steady Improvement are furnished by cities in the South ern cotton belt, where trade is atlll backward and where confidence as regards the future is not so marked. Iines especially favored this week at retail were heavy wearing apparel, footwear and coal, while cotton goods sra more active at first hands at large Eastern centres. Heavy aales of print cloths have been made at Fsll Blver and some printed goods are a quarter of a cent higher. Ba port trade In cottons to China has Improved, and tsklngs of sheetings since January 1st are estimated at 15 009 bales. Buelnens failures In the United State for the week ending January 14th were Jl against J last week. 431 in the like week of 108. FEW OKDF-RS FOR YARXS. Oulet Following Holiday Rash Oo Unwe Some Sign, of Improve-narnt. Secretary T. W. Crews, of the Hard Yarn Spinners Association, reports the following ordera died with th4 of fice, of the association during tha past fortnight: r-ate ' Order- Deeertptton. Jab. ti " 11 t-t warps " :.......- - 4 3S I . " " ii I- " . - ..., ....-! " 7 -! skeins " 13-.....J-. " , . - U- Termst- Poutjda. Price r0 1 .? 17H : " . I.SH4 lH . fcane 1S " T.HS MH 30.1 UH tys) -j-H " ., JOBBERS URGE DELIVERIES Manufacturers Appealed to For Quick er BLspmeuta, New York Commercial. r The quickness with whipa - buyers have taken hold on spring lines, la causing some Jobbers considerable un easlaess regarding deliveries from the mills. In most instances-Jobbets wera late In placing spring orders, and as a result, their deliveries will be equal ly late. Thla fact Is being brought home to them in many ways, and ur gent requests for earlier deliveries than contracts vail for, are going for ward to manufacturers. A good many mills have all the business they can handle up to March, and are not In a position to help out jobber to any extent. Other mills wUlch were not so successful in booking spring orders, are now reaping the benefit of the present demand aa a result. More buyers are coming Into the market each day, and the first re- Suests are for goods on which early ellverles can be made. AH lines of piece goods are moving, from plain staples to the more pronounced fancy lines. Orders are Increasing stead ily on silks, cotton dress fabrics, dress goods and linens. On underwear and hosiery a good business Is being se cured, especially on lines of light weight, colored hosiery for early spring needs. While the demand is steady, and growing-, buyers are care ful in" placing tHelr ororers. Prices and the quality of goods offered are being thoroughly gone Into In addi tion to the question of shipments. Business In the Tefft Weller Co.'s establishment yesterday. In the way of store trade and - mall orders, was reported as the largest for any one day since the opening of the new year, v Many buyers were In evidence, and had good orders to plate. Hos iery lines were taken freely, In both plain colors and fancy effects. Linens and white goods were also In active demand, with requests for prompt shipments on the orders placed. BKKiHT orrixOK FOU M1U -s. Stocks Never IJghter at Tills Season and Prosperity Visibly Ahead. American Wool and Cotton Reporter. The experiences of the past eigh teen months are fast belli forgotten and the first quarter of 1909 will not rass before textile manufacturing will hae resumed normal conditions, and so far as can be seen Into the future the prospects are bright for a long period of prosperity that will encour age a substantial Increase In our pro ductive equipment In both cotton and wool. Already plans are prepared for several new cotton mills, and these will probably be in operation before the year closes. It is safe to say that the cotton manufactur ers entered the new year with less stocks of finished goods than ever be fore, and the same may be said with the greatest degree of certainty re garding the manufacturers of wor steds and woolens ITnMke the close of panic periods in the pant, there is no depressing accumulation of goods to be thrown on an uncertain market, and for that reason prices inn be held firmer and worked to a higher level without danger of check ins the Increasing demand. Many lessons have been learned during the pa.st eighteen months that will prove . f value In the future, and at the pres ent time the merchandising end of the textile Industry is on a more busi nesslike basis than at any time In the history of textiles. SKiAK AND KICK RKVIKW. New York. Jan. 15 Interest In the su gar market the paet week has chiefly centred about the Cuban situation, which for a time showed a firmer tendency on leporta that rain waa retarding grinding of the cane but subsequently weakened again when the weather became more favorable. There are now ill centrals In operation on the Island, receipt being heavier so that if the estimate of 1,397,000 tons la reliable the pressure of the crop should effect prices Brokers for Cuban shippers, however, claim that the yield of cane la poorer than expected and may lessen the ultimate results. Ixical refin ers buy their raw sugar on a scale down n there la nothing surprising in the pur chases this week at a 3,735 cent basis for shipments within the next month. Owing to the light meltings the refineries are quite well supplied for current needs 'n the way of raw sugar and may pursue more of a waiting policy in the future. The business in refined sugars shows the customary January dullness, and ex pectations tn some quarters of improve ment after the holidays having been dis appointed despite the low price of 4 50 net, price quoted all Interests. Distributors complain of poor collections and reduced consumption incidental to the trade de pression, while the elimination of spec ulation under the new selling terms Is al so not conducive to other than hand-to-mouth buying. The American has made some concession, however, to wholesale grocers, permitting assortments of sugar to be mailed the same day instead of ac companying the contract. It is hoped that the rapid marketing of domestic beet su gar by eliminating this competition will clear the way for a good business next month. Th local rice market continues quiet, grocers buying from jobbers only as their needs require, there being little inclina tion to anticipate The cross town whole salers are taking Honduras sorts despite the fact that Japans are much cheaper though the country shows more Interest In the latter price. People In tbe trade here comment on the tendency of the Southern mills to turn down offers sug gesting that the bottom prices have been reached and that Improvement will ac company any revival of the active de mand. The receipts here of late have been liberal and assortments are now good, although Honduras fancy beads are none too plentlfiH. The reports of active buying In the Southwest from the West and other sections suggest to some brok ers that the New York market will later on have occasion to regret Its lack of foresight in not purchasing at prevailing prices. Review of Cotton Market. New Tork, Jan. The principal sup port for cotton Is the strong and active spot markets at home and abroad. Te thla mors tha a to anything else an ad vance in "futures must be attributed.. Back of it all Is the consumer. He la taking Immense quantities. A good deal is for immediate sue and much Is simply to replenish reserve stocks which were draws oa so freely last season that they bsd got rather lew. Big spot aalea eon tlnv in Liverpool. - Manchester reports a better China demand with rising prices for silver. Latterly Ha trade with India sad the Mediterranean has Increased, New Tork s trade with China is also larg er Prhtta have 'advanced and print elotha are Mreasr. Also t is worth while to note that wool Is active and arm and raw. silk stronger. Exporters of cotton at' the South find much of the available cotton aecumalat- Dellverlea. ( to M.000 pounds weekly. Prompt. , . February 1st ta ttth. Prompt. . ' - T Prompt. --- is tooa pounds weekly, prompt. - - -i 1 . Commence last of January. Commence at once. , r T. wV CREWS. Secretary. -o. The ordeal throueh wWch the expectant mother must passsjs such that :h wWch the expect with dread to the h she looks forward with dread to the of motherhood. of child-birth can renders pliable all the parts, tt assistine nature in its work. I By its aid thousands ofliV women have passed this 11. CTisisinsatety. JEBS book ef laformatioo te waaaea seat free. XII BKADnsLD KXGULATO CO. Atlanta. Ga. ed at the ports. Interior markets are so strong they can hardly be touched. Meantime dealers and exports are under heavy agreements to supply mills at home and abroad with cotton for January February shipments and the ports are being searched for cotton for rapid ship ment. Freight room for about 40,009 bales Is said to have 'been engaged for ship meet to Liverpool. The stock of about 14S.O0O bales of certificated cotton here is supposed to be mostly owned by Philadel phia interests. The exports continue large. The total keeps about 740,000 bales ahead of the same time last year. Spin ners' takings are over a million bales ahead. Bears stick to 14.000,000 bales as the probable six of the crop; bulls say 13.000.00 to 13,500.000. Meantime Liverpool continues to liqui date straddles by buying March and May. Ljrje spot merchants hsve bought March and May In some cases to cover shorts. New Orleans has bought and several of Us large operators express de cidedly bullish convictions. The South generally shows a more bullish temper. It seems more inclined to hold back cot ton. Wall Street buys, but finding little response from the outside publlo con fines Itself to trading for moderate terms. Chicago has bought. New Englund spin ners are buying July and October. R. F. Ooble tJoes to IxK-ke Mills, Concord. Concord Times. We learn that Mr. Robert F. Coble, who for several yoars has been su perintendent of the Southern Cotton viiii. t &.uupmcr will soon return to Concord to take charge of the Locke Mills as superintendent. Mr. C oble wa.1 for a nurnoer oi yrnm u ..Arini.nilani nf the Odell Mills, and is recognlxed everywhere as a splendid mill man. He nas many irionua non who will be glad to welcome him back to rtnr-rtty. Belmont Mill (Starting Vp. Gastonla News. The Mejestlc Cotton Mill lit Belmont !i now beginning to run through cot ton and expects to be running full blast by the 1st of February. The building Is 1 21x340. one story, and will have 10,000 spindles. It Is one of the most up-to-date mills In Gas ton county. Improvements at Mount Holly Mill. Gastonla News. Work is rapidly progressing on the addition to the Woodlawn Cotton Mill at Mount Holly. The addition being built Is 100x75. one story. The build ing is now ready for the roof. The mill will add 22 spinning frames. Electrocution vs. Hanging. Danville Bee. The State of North Carolina is about to follow Virginia's example and sub m, .ti .lArtrir. eTecution for the an cient method of hanging a man by the neck until he is aeaa. ine rapia growth In favor of the electrocution method Is a testimonial to Its humani ty, and to the wisdom of having ex ecutions private. It was long re garded as a deterrent measure to have criminals executed near the scene of their crimes and the awful penalty of the law thu brought home to others. The refined sentiment of every community, however, revolts against making this most awful form nt vindlcnthiar the maieslv of the la.w a spectacle, and it Is certainly not elevating or refining to witness tnese executions. We trust that our neigh boring State will adopt the newer plan. Offering I'or Earthquake- Sufferers From Thompson Orphanage. To the Kdltor of The Observer: -I notice in this morning's paper that vou sa.y that the offering from the Methodist church at Mocksville for the earthquake sufferers "Is the t;rst you have noted as ming from any Protestant church 'In the State." On January 3d we took up an offering for the same object a,t the chapel of the Thompson Orphanage, amounting to 11.13, a check for which I here with enclose; not so much, as I told the children, for the real assistance that It will give as an expression of our sympathy for our suffering fellow- beina-s. I have been homing tne of fering because I did not know to whom to send It. If you will kind ly forward It, I will esteem It a favor. W. J. sin i n. fcupi. fThls offering is noted with pleas ure. The Observer. Red Buck. Kenansville News. Mr. Red Buck Bryant, that versa tile writer and genial soul of The Charlotte Observer, is giving his paper the best there is in waamngton dur ing the sessions of Congress. He has tact as a newspaper correspondent and any journal Is indeed fortunate to have H. E. C. Bryant on Its Starr. The man knows news when It is news and he knows how to word his articles to make them attractive and enter taining. For many years he has, trod the paths of the wlde-a-wake corres pondents of the state and nation and has always written well of men and things. He carries sunshine along every day and cheers his friends day by day. .v. Mrs. Adelaide Kmlttt Celebrates Oth Birthday. Special to The Observer. Scotland Neck. Jan. IS. A few days ago Mrs. Adelaide smith, reuci ot James N. Smith, celebrated her 10th birthday at her home near Scotland Neck. For a long stretch of years reaching far back Into ante-bellum days the home or Mrs. Bmim nas '..ten well known for Its marked and oDen-handed Southern hospitality. The good and cultured woman who has been mistress of this home for so rrsny years retains In her beautiful ld oge all her faculties and still en Joys good health. '-' Wadesboro Ex precast Agent Overwork- ... . . v , L Wadesboro Messenger and Inteillgeno or. . .i . . 1 ' r Mr. X'"a. Rlddlck, . express agent here, complains that sine prohibi tion went into effect at Wilmington, he la almost submerged every day with shipments of boose from Virginia to be transferred here io go to points on tho Atlantic Coast 4xe between Wadesboro and Florence. C. The whiskey to be transferred already averages about 109 gallons a day and Is steadily Increasing in quantity. ,v . Isthejoyofjthehouseholdjor without it no happiness can be -complete. Angels, smile at and commend the thoughts. and aspirations of the mother . bendintr . over the cradle. hour when she shall feel the thrill Every woman should know that the danger and pain be avoided by tbe use of Mother. Friend, which Li2$om. A Town That Is Coming Along by Leaps and Bounds Manufacturing Doing It. Lenoir Topic. White 4he recent depression ih financial matters has to an extent ar rested the growth of our town, yet we doubt if few towns In the State have made as great strides forward, since the beginning of 1908 as Lenoir. In l0l Lenoir had a population ot 1,234. At-the beginning of this year the population was approximately 3, 500, while' to-day we have In excess of 4,500. This shows a gain of more than (00 during 1808, notwithstanding the fact that it hag not been a good year for the lgrflnx of people, to towns. In ltOl Lenoir became es sentially a manufacturing point. Since then it has added seven furniture factories, three cotton mills and various other manufacturing enter prises. During 19 (TO a chair factory, one cotton mill, wagon factory and a bent wood factory have been added. The splendid office building of tbe First National Bank has been completed at a Boat of $25,000. A gravity water system that draws Its supply from the (pure water of the mountains at an altitude of nearly 2,000 feet, has been installed, to gether with a first-class sewerage system at a cost of 380.000. lm- , provements on tho streets to the amount of $20,000 have ben ac complished. Several new buildings, business and residence, are In con templation and will be In process of construction during the beginning of 1909. Among them ta a modern office of tho Lenoir Realty and In surance Company. During the year $465,000 was subscribed and paid in to Incorporated enterprises alone, and ' practically every dollar of this amount was iome capital. TRIAL OF GREGORY BEGVX. WadCNhoro Man Who Killed His Wlfo Saya He Knows NotJuiig About It Insanity Being neaded. Speclil to The ObnervrY. Wadesboro, Jan. 15. The Gregory wife-murder case was taken up In Superior Court here to-day, the en tire day being oocupled with hearing witnesses. Solicitor Robinson made out a strong case. A number of neighbors ewore that Gregory, to all appearances, was sane the day of the murder. Attorneys for the defense plead insanity and ask for acquittal. Gregory was not placed on tha stand. Ha claims he has no knowl edge of the murder. He remembers Incidents of his arrest and prelimi nary trial and has talked of them since returning from the hospital or tha dangerous Insane at Raleigh. He con sults with his attorneys and Is appar ently at himself. He looks the pic ture of health. The case will prob ably go to the -Jury Saturday about noon. WOOD ALCOHOL ROUTE. Some of the Aslierllle Negroes Going That Way. Ashevllle Citizen. Speaking of the statement In yes terday's Citizen to the effect that two deaths this week were directly trace sble to the use of wood alcohol, in the absence of whiskey, a well-informed professional man stated yes terday that he knew of cases where imported bay rum had been used to produce an alcoholic effect. The speaker stated that in his opinion the poorer negroes of the city were clay ing with death when they satiated their craving for liquor' with wood or even pure alcohol. "They ought to be taught," he said, "and the press Is the beat medium of teaching, that they may as well take strychnine or prusslc acid as wood alcohol. And I understand that the initial use of the stuff creates a craving for more, and the victim generally gets It until his heart Anally stops beating." The Cherokee Indians. Ashevllle Citizen. The Secretary of the Interior has approved a 'census roll of the eastern band of Cherokee Indians, most of whom reside in the western part, of this State, taken for'the purpose of deciding what persons are entitled to participate in- the distribution of the fund held by the Department of thess Indians. A payment of $20 per capita Is to be made from a fund now in the American National Bank of Ashe vllle. One thousand nine hundred and thirteen persons will receive this sum each. wU-JgJESal Tliev Want to Sleep on It. Concord Times. ' Several ministers and otner cituens of Concord appeared before the al dermen Ian Tuesday to ask the board to-join in the request of the Minis ters' Association and the temperance Interests of th- city in ' asking the Legislature fo establish a medical depository here to which will be confined the legal sale of whiskey. All the members of the board were prtsent, but no ret Ion was taken that right, as they wanted some time to fully consider tlie matter. FOOD FOR A TEAK Meat... 3006SS. Mflk. 240 qts.. Buttw...... ............. looks. " Eggs............. ..' 27 etsv VcgtUblcs...... X, SO!, - , This renrestsnt a fair ration' for A ..... - - -1 A UUU 1UK U11C TCLOl- .... 1 . , , ....... , Rut mime nefmle Mt and eat and yet grow thinner. This means a , .fAfhlA .1 Iff AltM .Mflfll4kflA UC1CVUK UlgUUUII OIIU UlUUIUIUIt. food. A one-dollar bottle of ecnials fa nourishing properties en pounds of meat. Your physician caa tell you how-it does it. ' . . .- , Seas Ah sdwtiscaMat. tettrtfcar with mm of paper fea wfcick appear. ywradOrctt and four oa to cewcr posusa. sad. we wtB scad oa a "Canptet liwlr AlUa mt the Wartd ' tt a $COTT &. WNS, 409 Pear! Street, few Tors S cott 's: Em u I s io h
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 16, 1909, edition 1
10
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75