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THE COTTON SITUATION.
Will The Present High Price React
Sooner or Later, On The Cotton In
dustry Of The South?
Is the South killing "the goose
that lays the golden eggs?' In
other words, will not the present
high price of cotton react, sooner
or later, on the cotton industry of
the South ?
This is a pertinent question, and
one that will interest, not only every
cotton planter, but every business
man of the Soutli.
The New York world of Sunday
presents the "bull side" and the
"bear side" of the great cotton con
troversy, Mr. Daniel J. Sully claim
ing that even the government esti
mate of 9,962,000 bales of cotton is
too high to represent the crop ot
1903, while Mr. Theodore H. Price,
pointing out that the amount of
cotton "in sight" is greater than
last year, predicts a full supply.
Sully & Co., say, in part:
"At the opening of the season we
were persistent and insistent in set
ting fOrth the belief that the crop of
American cotton for the season of
1903 04 was not suflicient to Ilieet
the demciands of coismunption.
* ,. *
'The estimate of 9,962,000 bales
made by the Bureau of Statistics is
too high by many thousand bales.
* *1 *
"High as cotton is, cotton is still
too low. It is useless to predict
what you will have to pay if you
wait. What dtoes 15, 16, 2oor even
25 cn1ts a1 111nd Ieana when you
cannot get the cotton. Since that
titme advices from the Souti have
more tlan coifirimled us in our posi
tion. The season has proved the
shortest growing, picking, ginning
and marketing season on record.
For this reason the receipts until
recently, and even now to Fome
extent, are deceptive ill that they
indicate not that the crop is a large
one, but that every man with a bale
of cotton to sell is rushing it to
"In sl)ite of tile excess ofexports
over last year our advices from both
Great Britain and tile Continent lead
uis to believ,e that Eiropean spin
ners liave not covered their engage
miet s by securing the actual cotton.
This is a factor that will force cot
ton still higher as the season grows
older. It will not be long ull ntil
practically all interior supplies are
asseibled at the great concontrat
ing points. Whenl this hap)ens
tle smaillness of the crop willawn
upon01 the~ reluctdanit spinnerics, and
thlere will beC 5~ ascramlIe for sup
p)lies that will senid cotton to unl
heard of figuires."
Speatkinig for tile '"bear'' side
ITheiodore II1. P rice says:
''The arioti lt of cottonl ini sight
upl to the I16th of J anutaryis ill ex
cess of last year, wvhen tile crop
turnied out 10,727,000 bIales, andI
still furthler in excess (If thle figures
of two -,ears ago, wYhen tile total
crop was io,6oo,ooo.
'"The world's visible supply of
Amierican cottonl is likewise inl ex
cess of last year. There is no pres
ent scarcity of cotton. Receipts for
the p)ast week or two, it -is true,
have fallen behind those of laist
year, but, accepting the bulls' ex
planiationi of the heavy receipts
early in the season as due to an ex
ceptionally active demand for cot
tOnl, the presenlt light receipts are
in my opinion explicable on1 the
same theory, lnmely: They are
due to the slack demland. As far
as I can ascertain there is comnpar
atively little inquiry for cottoii froml
bona-fide consumers. That this is
the case is attested by the fact that
in New Orleans, which is tile head
quarters of the bull propagaudists,
there is a differenice of One centt a
pound1( betwveen cotton for ilnnediate
delivery and cotton forJuly delivery,
Jly~ conitracts selling at one cent
a pountd, or $5s a bale, ab)ove Jani
ulary contracts. As this is the
equivalent of about [2 per cent per
anuml111 onl thle nmoney invested in
carry ing the sp)ot stock in that mat
ket , it is evidlent t hat the demiand
for actual cotton is entirely inIcomi
mlenIsurate wiith thle demanUld for
paper cot toni, andc the bulls are paly
log i2 per cenlt per anuniill, or $5
per bale, for tile luxury of five
mlOnt hi hopen.'"
All of which is interesting, but,
as the Vorld says, no more so than
the fact that there is a third side to
the controversy. The World goes
oil to say pointedly:
"It is the Side of the public and
of the public interest. ''he con
tinuance of abnornal cotton prices
can have but three results, all la
mentable in the extreme:
' 'Semi-starvation for the world's
spinners and weavers.
" 'Curtailment of cotton-cloth
consumption in every part of the
'Fresh impetus to British and
German efforts to raise cotton in
"Of these results two nsere no
ticeable throughout our civil war.
As to the third, times have greatly
changed in forty years. Egypt has
become a producer of first class
cotton, and what has been done in
Egypt may be done elsewhere, to
the lasting hurt of our Southern
States and of our national yearly
balance sheet, if the spui of famine
prices continues to be applied."
There is in uch food for thought
in what the World says. No mat
ter what we may think of the pres
ent statistical position of cotton,
or what the market ought or ought
not to be, the fact stares us in the
face that a much larger production
is botmd to be the result of such ab
normal prices as have prevailed
throughout the present season. It
is, at least, a point which Southern
cotton planters need to considey
well at this particular time.
Now Near the Lighthouse on Morris Is
land ---A Beautiful Location.
The orphanage under control of
Rev. A. E. Cornish, of Charleston
has been removed from James Is.
land to Morris Island. Heretofore
the institution has been condtucte
in conjunction with a farm, an
while the former location was a goo(
one for both orplhanage and farn
it was deemed expedient to separat<
the two, the farm still to be run ot
James Island and the orphanage t
be carried on on Morris Island, onl3
a few miles distant from the old loca
t;,. As the farm and the orpham
age are almost within sight of eacl
other -- just across the sound-th<
separation will not result in an'
great inconvenience to cither. Oi
the contrary it is co!'sidered belne
ficial to both. The farm is a fin
p)iece of property in a desirable neigh
borhiood and work can progress witl
greater facilities on the part of thos<
who will have only farmn duties t<
performli; whereas the orphanag<
will now be free to proceed with its
good work ini its own way, unhamp
ered by outside operations which
while helpful ini a way, neverthelen
interfere somewvhat with the nieces
sary regularity and convenience:
governing the proper ma nagemeni
of the orphanage.
The H-erald andNews wishes long
life uid increasing usefulness and
prosperity for the farm and the or
phanage. From what we know and
have heard of both, each in it turn
deserves the highest measure of
success. Rev. Mr. Cornish is well
known throughout the state and his
friends predict wider and broadler
fields of good work f'-r the under
takings under his wise supervisIon.
From private letters to the writer
they are well pleased with their new
qjuarters Oin Morris Island. It is in
(deed a beautiful location, an ideal
spot for an orphan institution, quiet
and( free from obtrusion, sittuatedl
right on the A\tlantic coast, where
the big ocean breakers (lash upon
the shores at the feet of the children
who play in the white sand and look
at the ships that are p)assing by.
There is an ab)undance of fresh air,
pureI andc invigorating, for the breeze
ever blows fr-oim the restless sea and
the granId harmony of the surf goes
Hardest Man to Beat.
Former State Senator McDermott.
of Horry, ran against H. H. Evans
but was beaten badly. McDermott
is said to be a reliable and success
ftil man of spotless character, but
H. H. Evans is now the hardest
man to best in the State for any of
fice with possibly one exception.
He began his political career as
mayor of Laurens. The whole
Laurens delegation, senator and
house members, voted for him.
When bilious try a dose of Chamber
lain's Stomach and Liver Tablets and
realize for once how quickly a first-class
up-to-date medicine will correct the dis
order. For sale by Smith Drug Co.,
Newberry, Prosperity Drug Co., Pros
It is said that seeds have been
found in %gyptian tombs which,
though thousands of years old, still
p)re.ierved their vitality. Ilowever,
in planting for profit, it is wiser to
deuill-d seeds of a later crop.
Seeds can 't he too iresh, vhich
iieaiis that you imist have those
grown last year. There is one
grower you canl depend upon to
supply them, this is
Vou canl buy them with confi
dence, knowing them to be true and
perfect in every way.
1Nothc if Riial SCHIlC11C111 81d Discharge,
3N OTICE IS HERElY GIVEN'THAT
we will make a final settlement
of the estate of George Doninick, de
ceased, in the Probate Court for New
berry Contty, S. C riday, the
26th day of Febr'-' o'clock in
the forenoon. apply for
let ters mis.
JOHN .. i .CK,
GEOItGE 1. 1) -iNICK,
and JOHIN B. IHUN' ,'R,
As executors of Geo. Dominick, ded'd.
V MILES FR'OM WHIITMIRES,
:k 918 Acr-es of good cotton land, on
- noree River, good pasture land. May
be b ought cheap and on easy termis.
1 Apply to E. H. AHULL,
Newb.erry, S. C.
SSILK P'URSlE IS NOT FOUJND
Xin a sow's (ear, but11 y'ou canl get
your mone1y 's wort Iiwhen .you buy
-horses, mules, buggies, wagons, har
ness, etc., from
Quattlebaum & Schumpert,
Prosperity, S. C.
oTE THlE CHANGE IN THE AD).
(f uattlebaum & Schumpert,
these young men are not giving their
goodIs away, but are coming nearer to
it than any other dealer in this section.
Tl HOM8E LON AND TRUST CO.
T HE JAUR ASSESSMENT OF:
. te Hme oanand Trust Company
will be due and payable on Friday,
January 15. Mr. J. E.Norwood, vice
p)resident, has kindly consented to re
ceipt for me for the assessments duec in
January and Februar-y. Please call at
the Savings Bank and make payment to
him. The board of directors will meet
at the Savings Bank on Monday, Jan
uary 18, at 5 p. m.
E. H. Aull,
f- Sec. & Treas.
Anyone Rondinig ti sket chi nndi descri eitin may
quIckly ascartnlin .'ur (Iof,Ion free whatther n
iO Oli y i y tors rO,g t lli
at ant t taen t uh M nu sg , rtci.ve
epecil ntotic, without e inrgo, it the
IA handsomenly illust rated wookly. L.nrgest cr.
Suhtlon of any scienltliti urunal. 'rerii, $3 a
niou ontheat, $1. 8 id by all newadealors.
Mar: &u C.osBrfoa-way. New York
Branch Officn. O2. if St, WVaingonn n. n.
ENDOISBD AT ROMB.
Such iroof as this Should Convhice any
The public enhlorsoment of a local cit
z:in is t,'o best proof that can be pro
Itueed. None butter, none stronger can
b;oe had. Wheri a man comes ferward
tud testilles to his follow citizens, ad
Jresses his friends and neighbors you
nay be suire he is thoroughly convit-ced
av he would not do bo. Telling one's
'xperience when it Is fur the public
iood is an act of kindness that should
be appreelated. The following state
ment given by a resident of Newherry
Vids one more to the many cases of
Hlome Endorsenient which are baing
published about, "I'he Littlte Conquer
D."1 Read it:
P-. B Hutchinson proprietor of gen
eral hiousehold (urnishing store on Main
.treOt says: '1 have used Doan's Kid
11(y Pills in my family with very bone
liciaT ect. we used them for kidney
i -ouble tnd b%ckacho. The relief given
was immediate and permanent I ob
ained the pills at W. E. Pelham &
Son's drug stoire ani I can and do ro
i'mitenld them very highly belleving
hem to he all th at Is claimed for them.
For sale by all dealers. Price 55 cents
per box Foster-Milburn Co, BuITalo. N.
Y., sole lrgoits for [he United S ates
R-mimer the name Doains and take
Begin the New Year
With a New Ledgr.
We ha ve
In fact we have every
thing needed in Book
M A YES'
As the Year 1903 t1"
end I wvant to thank my tiany pat
rons for their liberal patrolage (lilr
ing the past year and hope lor a
Cont1tinuation of same.
Rerie inher I a ni at the I sa rie
stand and amn aiways read y to serve
you wvith the very best of Jewelry,
W\atches, Toilet Articles and every
thing to hbe found in a iFirst Class
My business ini Op...czl Goods has
greatly increased also, shiowinlg miy
knowledge anid ability in f6tting
Spectacles and Glasses.
New Sterling Silver just received;
new ideas and new good1s. also
qutadrulple p)lated goods, Whiting
Mfg. Co's, Derly Silver Co., Benie
dict & Rodgers.
Yours for a prosperous new year,
J. GUY DAN IELS.
NTOTICE IS H EREBY GIVEN T HAT
. the undersigned, composing the
Board of Jury Comnmisstoners of
Newberry County, State of South Caro
lina,. will, on the 2nd of February next,
at nine o'clack a. in., in the office of
the Clerk of Court for said County,
penly and publicly draw thirty-six
Jurors, to serve as Petit Jurymen~ at
the February term of Court of Corn
non Pleas for Newberry County, he
min.mg February 15th, 1904, and con
miumng for one week.
JNO. L. EPPS,
W. W. CROMER,
JNO. C. GOGGANS,
Clerk of Court.
L, 0. 0. F.
PULASKI LODGE NO. 20.
a7 0o'Clock :s. li.heir hallI at the
rad(l,i Schosol butittlin. Viitrs cor
T 0 Ntwit,J., S. creTar,N.y
Newberry, S. C.
Capital - - - $50,000
Surplus - - - 19,500
since organization 21,000,
Paid Depositors in
ment since or
ganization - - $9,200
A man working by the day is paid
for the time ho puts in at work, but
when that man saves a dollar for his
day's labor it works for him nights,
as we'll as days; never lays off on no
count of bad weather and never get&
sick, but. goes right on earning him
an income. It's a nice thing to work
for money, but it's much nicer to
have money working for you. Try
it-open a savings account with us.
and get somo money working for you.
Make a deposit in the Savings de
partinent today and let it begin to,
work for you. Interest computed at
4 por cent January 1 and July I of
(Scrved in any Style.)
Or a good meal of any
kind, go to
Land for Sale
82 acres 5 miles of
Whitmire-25 acres in
cultivation, 5 to 6 acres
Seven lots adjoining
the corporate limits of
building sites. Terms
and prices reasonable.
1-or further informa
tion call at
O FF IC E.
Get the Best!
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