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THE COTTON SITUATION.
Wim 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?" Iu
other words, will not the present
high price of cotton react, sooner
or later, on the cotton industry of
This is a pertinent question. and
one that will interest, not only every
cotton planter, but every business
man of the South.
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,ooo bales of cotton is
too high to represent the crop of
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 sufficient to meet
the demands of comsumption.
* * *
"The estimate of 9,962,ooo bales
made by the Bureau of Statistics is
too high by many thousand bales.
"High as cotton is, cotton is still
too low. It is useless to predict
what you will have to pay if you
wait. What does 15, 16, 2oor even
25 cents a pound mean when you
cannot get the cotton.. Since that
time advices from the South have
more than confirmed 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 s-ome
extent, are deceptive in 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 spite of the excess of exports
over last year our advices from both
Great Britain and the Continent lead
us to believe that European spin
ners have not covered their engage
ments 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 until
practically all interior supplies are
assembled at the great concontrat
ing points. When this happens
the smallness of the crop will dawt
upon the reluctant spinners, and
there will be a scramble for sup
plies that will send cotton to un
Speaking for the "bear" side
Theodore H. Price says:
"The amount of cotton in sigh1
up to the x6th of January is in ex
cess of last year, when the crop
turned out 10,727,000 bales, and
still further in excess of the figures
of two years ago, when the total
crop was ro,6oo,ooo.
"The world's visible supply of
American cotton is likewise iu ex
cess of last year. There is no pres
ent scarcity of cotton. Receipts for
the past week or two, it -is true,
have fallen behind those of last
year, but, accepting the bulls' ex
planatiopi of the heavy receipts
early in the season as due to an ex
ceptionally active demand for cot
ton, the present light receipts are
in my opinion explicable on the
same theory, namely: They are
due to the slack demand. As far
as I can ascertain there is compar
atively little inquiry for cotton from
bona-fide consumers. That this is
the case is attested by the fact that
in New Orleans, which is the head
quarters of the bull propagandists,
there is a difference of one cent a
pound between cotton for immediate
delivery and cotton forJuly delivery,
July contracts selling at one cent
a pound, or $5 a bale, above Jan
uary contracts. As this is the
equivalent of about 12 per cent per
annum .n the money invested in
carrying the spot stock in that mar
ket, it is evident that the demand
for actual cotton is entirely incom
mensurate with the demand for
paper cotton, and the bulls are pay
ing 12 per cent per annum, or $5
per bale, for the luxury of five
All of which is interesting, but,
as the World says, no more so than
the fact that there is a third side to
the controversy. The World goes
on to say pointedly:
"It is the side of the public and
of the public interest. The con
tinuance of abnormal 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 %ere 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 spur. of famine
prices continues to be applied."
There is much food for thought
in what the World says. Ro 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 bound 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 consider
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 conducted
in conjunction with a farm, and
wile the former location was a good
one for both orphanage and fartr
it was deemed expedient to separate
the two, the farm still to be run or
James Island and the orphanage tc
be carried on on Morris Island, only
a few miles distant from the old loca
tion. As the farm and the orphan
age are almost within sight of each
other-just across the sound-th
separation will not result in any
great inconvenience to either. Ou
the contrary it is considered bene
ficial to both. The farm is a fine
piece of property in adesirable neigh
borhood and work can progress with
greater facilities on the part of those
who will have only farm duties tc
perform; whereas the orphanage
will now be free to proceed with its
good work in its own way, unhamp
ered by outside operations which,
while helpful in a way, nevertheless
interfere somewhat with the neces
sary regularity and conveniences
governing the proper management
of the orphanage.
The Herald andNews wishes long
life ud increasing usefulness and
prosperity for the farm and the or
phanage. From what we know and
have heard of both, each in its turn
deserves the highest measure of
success. Rev. Mr. Cornish is well
known throughout the state and his
friends predict wider and broader
fields of good work for the under
takings under his wise supervision.
From private letters to the writer
they are we'1 pleased with their new
quarters on Morris Island. It is in
deed a beautiful location, an ideal
spot for an orphan institution, quiet
and free from obtrusion, situated
right on the Atlantic coast, where
the big ocean breakers dash upon
the shores at the feet of the children
who play in the white sand and look
at the ships that are passing by.
There is an abundance of fresh air,
pure and invigorating, for the breeze
ever blows from the restless sea and
the grand harmony of the surf goes
Hardest Man to Beat.
Former State Senator McDermott
of Horry, ran against H. H. Evaun
but was beaten badly. McDermott
is said to be a reliable and success
ful 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
I It is said that seeds have been
found in Egyptian tombs which,
though thousands of years old, still
preserved their vitality. However,
in planting for profit, it is wiser to
demand seeds of a later crop.
Seeds can't be too fresh, which
means that you must have those
grown last year. There is one
grower you can depend upon to
supply them, this is
You can buy them with confi
dence, knowing them to be true and
perfect in every way.
ifial SoMenl8llt al Mugcai~
TOTICE IS HEREBY GIVEN THAT
we will make a final settlement
of the estate of George Doninick, de
ceased, in the Probate Court for New
berry County, S. C., on Friday, the
26th day of February, at 11 o'clock in
the forenoon, and thereafter apply for
JOHN W . DOMINICK,
GEORGE P. DOMINICK,
and JOHN B. HUNTER,
As executors of Geo. Dominick, ded'd.
FIVE MILES FROM WHITMIRES,
98Acres of good cotton land, on
Enoree River, good pasture land. May
be bought cheap and on easy terms.
Apply to E. H. AULL,
I Newberry, S. C.
ASiLK PURSE IS NOT FOUND
Ain asow's ear, but you can get
yormoney's worth whnyou buy
horses, mules, buggies, wagons, har
ness, etc., from
Quattlebaum & Schumpert,
Prosperity, S. C.
XOTE THE CHANGE IN THE AD.
Lof Quattlebaumn & Schumpert.
these young men are not giving their
goods away, but are coming nearer to
it than any other dealer in this section.
T HE JANUARY ASSESSMENT OF
the Home Loan and Trust Company
will be due and payable on Friday,
Jauary 15. Mr. J. E. Norwood, vice
president, has kindly consented to re
ceipt for me for the assessments due in
January and February. 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,
ISec. & Treas.
year fos gency fo. SoLi atentdaes.
antN&Cltrog n o receioe
y--.ai ne witou chL aruton. t.c
ENDOBSED AT HOME.
Such Proof as this Should Comince any
Tne pubiic endorsement of a local cit
ztn is Lie best proof that can be pro
auced. None better, rione stronger can
ue had. Wbeis a man cormes f-rward
:ud testifies to his fellow citizens, ad
dresses his friends anc neighrors you
way be sure he it I boroughly convit.ced
or ne would not do to. felling ons
experience when it is ftr the public
3zood is an act of kindness that should
he appreciated. The fullowing state
ment given by a resident of New berry
adds one more to the many cases of
H-me Endorsement which are baing
published about " rbe LittlA Conquer
or." Read it:
P. B Hutchinson proprietor of gen
eral bousehold furnishing store on Main
.treet fays: I have used Doan's Kid
vey Pills in my family with very b+te
ticial effect. We used them for kidney
:'ouble hnd b-4ckache. Tbe relief given
Was immediate ani permanent I ob
ained the pills at W. E. Pelbam &
Son's drug st-are and I can and do re
commend them very highly believing
'hem to be all that is claimed for them.
For sale by all dealers. Price 55 cents
per box Foser-Milburn Co, Buffalo. N.
Y., sole agents for the United States
R-member the name Doans and take
Begin the New Year
With a New Ledger.
In fact we have every
thing needed in Book
As thY Yar 1903 to an
end I want to thank my many pat
rons for their liberal patronage dur
ing the past year and hope for a
continuation of same.
Remember I am at the same
stand and am always ready to serve
you with the very best of Jewelry,
Watches, Toilet Articles and every
thing to be found in a First Class
My business in Optical Goods has
greatly increased also, showing my
knowledge and ability in fitting
Spectacles and Glasses.
New Sterling Silver just received;
new ideas and new goods, also
quadruple plated goods, Whiting
Mfg. Co's, Derly Silver Co., Bene
dict & Rodgers.
Yours for a prosperous new year,
J. GUY DANIELS,
liOTCE IS HEREBY GIVEN THAT
J the undersigned, composing the
Board of Jury Commissioners 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,
openly and publicly draw thirty-six
Juos oserve as Petit Jurymen at
the February term of Court of Com
mon Pleas for Newberry County, be
ginning February 15th, 1904, and con
tinuing for one week.
JNO. L. EPPS,
W. W. CROMER,
JNO. C. GOGGANS,
Clerk of Court.
PULASKI LODGE NO. 20.
M,EETS EVE[RY FRIDAY NIGH T
Ii.at7i30 o'clock :r their Lail at rhe
Graded School building. Visitors cor
3. S. SM ITH. N. G.
T. 0. Steart. J. Secetary
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 he puts in at work, but
when that man saves a dollar for his
day's labor it works for him nights,
as well as days; never lays off on ac
count of bad weather and never gets
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 some money working for you.
Make a deposit in the Savings de
partment today and let it begin to,
work for you. Interest computed at
4 per cent January 1 and July 1 of
(Served in any Style.)
Or a good meal of any
kind, go to
Land for Sale
82 acres 5 miles of
Whitmire-25 acres in
cutivation, 5 to 6 acres
Seven lots adjoining
the corporate limits of
building sites. Terms
and prices reasonable.
For further informa
tion call at
Get the Best!
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