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We are all familiar with the an- 1
cient faibie of the wolf wherein a I
boy numerous times cried .wolf when J
there were no wolves and frightened
his family, 'but whon the 'Wolves
really came his cry went unheard and
all were devoured.
The cotton bulls 'have for many
years cried "cotton scarcity" when
there was no scarcity and now that a
real cotton scarcity inonfronts the cot
ton world pcotle laugh and few be- 4
More than six months ago when
cotton was far lower than today we '
.Predicted 30 cent cotton and we have
done everything in, our power to get
the E'onthern mills to -buy their sup
<plies of cotton.
We are glad to know that South
ern mills have bought more cotton
than ever before in their history and
some of those owho secured their sup
ly around 21 cents very kindly admit
that the figures given by the Southern
Textile Bulletin greatly influenced
them and we believe that Southern
mills are hundreds of thousands of
dollars ahead of the game because of
the information we -published.
The mills of England and New Eng
land have not yet purchased the bulk
of their cotton and for once the South
ern mills have beat them in buying
cotton and arc in position to underbid
them in export trade. .
The statistical situation as rwe see
it makes 30 cents cotton a surety and
much higher figures are probable if
the following figures are as correct as
we believe them to be.
The National Ginners now give the
indicqted crap for 1922 as 9,400,000
bales but we believe that 9,800,000 will
be nerer correct.
192.2 Crop ............ 8,900,000
Aug. 1st, 1922, carry-over .. 4,900,000
Total supply Am. mills .. ..14,700,000
Indicated consumption of
American cotton .. .. ..13,000,000
Supply LAug. 1, 1923 .. .. .. 1,700,000
These figures mean that there will
he less than -1,700,000 bales of Ameri
can cotton in the iworld on Aug. 1st,
and from this must ne secured. the
supply from August ;.st until new cot
ton is available and also to keep
enough on the way to Europe to kc-p
her mills supiplied.
Figured rom the stanapoint of the
'November 17th &
You won't believe yo
eyes. You'll feel ye
"pinch" yourself to pr
you are in fusll possei
your sqnses. We h
stopped at cyttiist pxi
luave slashed them.to
to~pleos Rlium n
Jnited 'States alone we have the fol
Wug. 1st, 1922, carry-over
In U. S. ......... 2,828,000
.922 Crop... .. ...........,800.000
rotal supply in 'U. S. ..12,028,000
ionsuniption and ffxlports ..12,100,000
n '. 1S. Aug. 1st, 1923 .. .. 5'48,000
As' very little new cotton will be
tvailable until September, this amiount
f 528,000 -bales will have to supply
;ho A'meican mills and furnish ex
)orts to Europe.
This 528,000 will not be available
inless the farmers turn loose every
)al- and strip their farms clean, and
murrender their cotton rather than
iold for higher prices.
The 12,000,000 estimated consump
ion and exports is the tigure of the
ast year and those who hunt for bear
sh arguments claim that it will not be
%qualled this year.
iWhatever decline there may be in
3xports nwill 'be equalled by the in
crease in domestic consumption as
Mnerican mills are far busier than
last year and many are now operating
night and day.
It is yet to ibe shown that exports
will be decreased and there is a good
reason to anticipate increased foreign
In spite of the decline in marks
Germany has already taken 293,000
bales as against 245,000 lbales last
The man -who can see more than a
half mill-ion bales in the United
States on August 1st, 1923 bases, his
estinate upon his wishes rather than
The higher cotton goes the tightei
many farmers hold and it will 'be hard
to reduce the amount in the farm.
ers' hands to less than 600,000 bales
Realizing the probably scarcity
shrewd speculators will certainly ac.
quire an amount that may be estimat,
ed at 500,000 'bales.
American mills can not secure thei1
cotton the day they use it and they
usually carry a stock of 500,000 bales
European mills nust not only have i
stock of cotton on hand 'but alwayE
must have a supply afloat and 500,00(
would be a low, requirement for them
The '500,000 iprobable carry-over Ih
the United States on August 1st, 1923
must not only supply the Americar
We were av
the door Sai
ed the bigge
our store de
this stock a
18th. or than the:
u mustyott are pra
to you to b1
ave that we are forc
sion of You cannot e<
ive khot most peak of
mills until the new cotton conues In
but must cover the :farmers holdings,
the speculators holdings and provide
that afloat for Europe. Those 'who
can see lower prices under such cir
cumstances must have a 'peculiar vi
And the end is not yet for the real
bullish force 'in cotton is going to 'be
the 1923 crolp which must be 1-3,500,000
bales if the year from August lst, 1923,
to August 1st, 1924 is to 'be passed
without mills standing idle for lack of
We have raised one crop of 7,962,
000an(I -have IO.h year 90'?,000() both
being the results of the entry of the
boll weevil into Georgia and the Caro
linas. In spite of several years of
35 cent and 40 cent cotton we have
raised only - one 13,000,000 bale crop
in nine years.
Wq may raise a crop of 13,500,000
'bales next year but every cold wind
next March and April and every rainy
spell is going to throw a scare into
the cotton iworld and furnish ammuni
tion for the bulls.
If the season should be such as to
reduce the 1923 crop to 10,000,000
bales which is, of course, -possible, a
large portion of the world's spindles
would ihave to stand idle and there
is no man. who can figure otherwise.
Because cotton has advanced from
20 cents to 26 cents those who failed
to buy at the lower figure hesitate to
buy now. 4
Wo 'predict that mauy of those who
.will not buy their surgply at 25 cents
'will rush to cover at 30 cents or even
'We do not besitate to advise South
ern mills to 'buy sufficient cotton to
carry them until September, 1923.
There may be periods of liquidation
and small declines but those who wait
for them may 'find their waiting ex
The cotton world -is facing a condi
tion which they never faced ibefore and
while other cries of "wolf" have been
untrue there is no reason to 'pass un
heeded the cry of today.
Prices anticipate conditions and we
should not lose sight of the fact that
the iprobable outturn of the crop to be
'planted in March, 1923, only five
months from -now, .will be measured
against the requirements up to Sep
tember 1st, 1924.-Reprint from Tex
tile IBulletin, Charlotte, N C., issue of
That 15cts. Dry Qoods Counter at J.
C. Burns & Co.'can't be beat.
turday morning when a
iastic people stormed the
ist part of the day, only a
i all parts of this vicinity
t, and hundreds of folks
lighted with their bargaii
t the rate people are by
inust be sold to the bare
r have been -in years; in fi
one man said, "It shouldr
etically giving it away."
ay clothing right in the h4
ed-to do it.
jual the sacrifice-.you cannot
quality and the lowest rung of
COME LaET YOUR OWl
FOUR S. C. SHIOPMEN
Kuartette Charged with Vlolating U.
S. Injunctlon to be Sentenced.
Columbia, Nov. 9.--Four members of
the shop crafts, who went on strike in
July, wore convicted in federal court
here today of contempt of court, it .be
ilg alleged that they violated a federal
injunction against interfering with
new railroad omlbployes. The four qnen,
C. D. AWitherspoon, J. P. Butler, Collie
'111118011 and M. B. dlinson, swere charg
ed with threatening Atlantic Coast
Line 'iailroad coipanly emnploycs at
.Su.iter in August. They will be sen
Jesse Timions, I. 0. Hair, R. D.
Tinnions and C. F. Griffin, government
witnesses, testified as to the alleged
attempt at intimidation. They said the
defendants appeared near the house
where they were staying, and threat
ned to do them violence.
Judge Smith's charge to the jury
dealt largely with the right of an in
dividual to work i4herever and when
ever 'he chose, declaring that when
any man attempted to prevent others
from taking available 'places of em
Illoyment "they crossed the line be
bween law and lawlessness."
The case was reviewed by Judge
Smith, who had granted the injunction
the defendants were charged with vio
-lating. "This is a serious case." he
said. "It is to determine whether the
country is to be run -by the courts, the
legislature and the machinery they
have set ip, or by the unions.
"The mflomlent any union," he con
tinued, "be It a union of lawyers, a
union of gankers or a union of railway
employes undertake to administer the
affairs of this country it becomes a
Among other cases decided today
was that of AWilliam .. Terry, 'of
SMilletville, Allendale county, twho was
sentenced to $100 'fIne and 30 days In
the Richland county jail, following a
-plea of guilty to embezzling funds
while he was postmaster at Milletville.
Distribution of Seeds
Editor The Advertiser:
The distribution of vcgetable and
flower seed will take plece In a few
weeks, but the supply of each Senator
is limited. I will be glad to send a
'package to each person requesting
seed if they w4il let me have their
rames and postofflee addresses. Please
address me: Room 329 Senate Office
Building, (Washington, D. C.
Yours very truly,
N. B. DIAL.
~went mad. We had K
crambling, seething moi
place. The doors were
certain number bein'g le
'are flocking to this ur
are carrying big bundlei
is. It will not take lou
walls. Our close-out pri<
att you will never see pri
't be hard to close out
Men, stop anid thin kwh
~art' of the season at suc
find a sale which spans, as ti
SEYES BE YOUR JUDGE
iess ip Laurents
Satisfies the sweet tooth
and aids appetite and digestion.
Cleanses mouth and teeth.
A great boon to smokers,
relieving hot, dry mouth.
Combines pleasure and
Don't miss the joy of the
new WRIGLEY'S P-K-the sugar
coated peppermint tid bit!
Good for G
Article in the
Store Is Sold
irdly opened TO ALL
3 of bargain
t in at a time. We want to apologize for
usual money not having sufficient sales
i away from people to take care of each
g to close out and every one of you the
:es are cheap. first day of this gigantic sale.
ces so cheap Altho we employed every
x stock when available sales-person in Lau.
at this means rens, we were utterly covered
h pricesw--but up at times. It was physi
ii. does, the top. cally impossible to serve
every one who came. We
have now employed addi
tional help and are prepared
LEASE to attend your wishes until
FOR SALE 'this sale closes.
'.41'~ 'K - 'N" 1 L
A iff ildi 1, 5 1!,M