The Little River news., September 15, 1915, Image 2

About The Little River news. (Ashdown, Little River County, Ark.) 1897-current

Image provided by: Arkansas State Archives

                
You can do it if you take advantage of your opportunities
The merchants of Ashdown are making prices closer than ever before
Don't send your money away to mail order houses. The^ do not appreciate it, and furthermore I'll make anyone a present of
any item in my house that you can buy cheaper from mail order concerns, quality considered.
Quality is a word unknown to most mail order houses.
17 lbs Granulated Sugar $1.00 I
48 lbs Albatross Flour $1.70 I
100 lbs kiln dried Chops $1.60 |
10 lbs White Ribbon Lard 90c
Keep your eye on this space. We have had a remarkable dry goods business recently and in a few days we are going to show
you a stock of dry goods to open your eyes. Going to market this week and expect to show you some nice merchandise next week.
I Ce^n’t Sell Goods if I Havn’t Got them-Wevtch Us
My motto is: If I buy a bargain, then sell a bargain.
Of course we make special prices on certain items each week, but any reasonable
person can readily see that low prices for cash prevail throughout our entire stock.
•» /
Farmers, Merchants and
Bankers Should Fight
for 12-Cent Cotton
“Twelve-Cent Prices are Justified by
the World’s Demands, by the Crop
Outlook, by the Financial Condition |
of the Country and by the Opportu- |
nities New Afforded by the Federal
Reserve System”—A Campaign to
Save $2.70,000,000 to Southern Grow
ers.
By Clarence Poe, Editor Progressive
Farmer.
I beg space in your columns, Mr. _
Editor, to present a subject of the
utmost importance to all our South
ern county. There is no doubt in [
most thoughtful minds but that the
South's cotton crop is going to be j
worth $750,000,000 to the men who
own it. next spring, but it is worth I
only $500,000,000 to the producers I
at present prices—and it is to save ,
the Southern growers and to our I
Southern country this extra quarter
of a billion dollars that the united
energies of press and people should
now bie directed. The funaamental
facts seem to me to be clear:
1. Cotton, even though the new
crop of 191.7 has started coming on
the market, is still selling on the
basis of prices fixed by last year’s
17.000. 000-bale crop.
2. These prices must soon be ad
justed, however, to fit thee ondltlons
•f a 12,000,000-bale crop (or proba
bly only a 10,000,000 or 11,000,000
bale crop,) aud this adjusted price
ought at the very least to reach 12
cents a pound for middling.
As briefly now, as clear argument
will permit, I wish to point out and
emphasize the truth of these state
ments.
I.—The World’s Demand Justify
Twelve Cents.
Assuming even a 12,000,000-bale
yield of Southern cotton this year
(and it will probably be less,) this
year’s world production will be
3.000. 000 balps short of the world’s
conservatively estimated consump
tion during the coming twelve
monthB. That is to say, the world
will consume every pound of this
year’s crop and 3,000,000 bales of
the present surplus.
^ Secretary Hester of the New Or
leans Cotton Exchange estimates last
year’s Southern production (not the
commercial crop) at 17,004.000 bales.
The United States Government esti
mate (16,134,930 plus 791,464 linters)
is 16,926,349—practically 17,000,000
bales. This was over 2,000,000 bales
in excess of the 1913 crop.
Now what happened with this
bumper 17,000,000-bale crop in spite
of all the demoralized conditions of
trade and finance—the crop of which
it was said last fall we should not ex
port 4,000,000? The facts are that the
world used so much of it that the to
tal world’s visible supply of all cotton
in midsummer this year was only 5,
435,168 bales against 3,522,276 bales a
year before. In other words, with
a 17,000,000-bale Southern crop to
handle, the world’s visible supply in
creased only 1,900,000 bales. What
is going to happen this year the;«
with the South offering 5,000,000 or
6,000,000 bales less-—and the pro
duction of other countries also de
creased? And this query brings me
to another point:
II. The World’s Crop Prospects
Justify Twelve Cents.
Mr. IV. P. G. Harding of the Fed
eral Reserve Board early in the sum
me secured reports from consular
officials all over the world indicarr
ing a total cut in the world’s cotton
crop this year of 5,000,000 ba es,
Egypt and India reporting "radical
reductions *n acreage.” Since that
time the prospects have further de
cined.
But even if we accept this early
over-estimate cf the crop we see tha*
if last year’s crop, being 5,000,000
bales bigger than this year’s, yet
increased the surplus only 2,000,000
bales, then this year’s crop wrill leave
a 3,000,000 bale deficit—to be drawn
from the surplus.
The facts are, however, that even
a 12,000(000 bale estimate f<jr the
South now seems too high. This is
not simply my view, but the view of
many experts, including so conserva
tive and competent an authority as
the New York Journal of Commerce
which lias just declared that in view
of present conditions, “the yield seems
i (
likely to l»e nearer 10,000,000 than 12,
000,000 bales.” And now comes the
Wall Street Journal itself quoting
William S. Halliburton, of Daniel O'
Dell & Co., as saying: "The current
season's crop may be as low as 10,
500.000 bales. It is entirely within
the reach of present conditions that
we shall see 12£ cent cotton before the
end of the season."
These two authorities base thetr
estimates chiefly on condition re
ports from* all over the South, but
might have added the further testi
mony that the South cut its ferti
lizer consumption this year from
4.431.000 tons to 2,636,000 tons—al
most in half—and the effect of this
cut will probably make itself most
evident from now on as closer scru
tiny is given the fruiting of the crop.
The reader can easily see for him
self therefore, that if we have only
a 10,000,000 bale crop, the factories
of the world would utterly drain
the market dry, leaving it subject
to such conditions as occurred a few
years ago when speculators carried
prices to 17 and 20 cents a pound.
And now having pointed out that
twelve-cent prices are justified be
cause the 1015 crop is ..certainly
3.000,000 and possibly 5,000,000 bales
short of flic world’s demands, mean
ing that factories and munition fac
tories will consume all the present
yield with the greater part if not all
jthe world’s visible Surplus, I also w'isli
to call attention to the fact that—
III. American Prosperity Justi
ties Twelve Tents.
The American Rankers’ Association
has just been meeting in Seattle,
Washington, and what was the mes
sage that the President of this great
est organization of finaneers brought
th'-' country? He predicted, says e.
press dispatch, that "an almost un
believable prosperity is rushing on
the nation,” or to quote 1ms oxncr
words:
"When iank reserves, which are
greater now than they liu.-e ever
been in the histc/ry of thee ountry,
are o.stributed, the nativi will en
joy almost unbelievable prosperity.
The volume of money on hand
is so great that it cannot find a
outlet. The movement of the tre
mendous crops, with the atten
dant financial activity, will still
further increase the bank reserv
es.”
And manufacturers are no less op
timistic than bankers. The Factory
Magazine of Chicago recently took a
poll of 163 Eastern and Middle
1
Western manufacturers as to the
prospects for business in the fail.
Forty, or practically one-fourth of
the total number, declared cceidi
tions ‘exceptional,” 23 “fine,” or
"above normal,” 60 ‘good,” 18 “fair,”
and "fairly good,” only seen “dull
and poor,” and only one "much below
normal and very poor.”
Another point not to be overlooked
is—
IV.—The New Federal Reserve Act
Insnres Better Prices.
President Hirsch of the Texas
Bankers’ Association told the big
Cotton States Conference of South
ern bankers in Galveston: “For the
first time in the history of the South,
gentlemen, the Southern bankers
have the financial ability to market
gradually this crop. It would al
most appear as if the Federal Re
serve Act had been drafted for the
benefit of Southern producers.” Just
because the reserve act doesn’t give
the farmers all the help they need
just bceuse it doesn’t take the place,
nor profess to take the place, of the
much - needed rural credits legisla
tion—is no reason for denying or
minimizing the great advantages it
does offer.
The Federal reserve system does
enable the banks in the South where
money is needed, to draw upon the
great reserves in other sections for
making loans on the cotton crop; or
as Mr. W. P. G. Harding of the Fed
eral Reserve Board officially says:
"Banks have now ample facil
ities which they have never be
tore enjoyed ror rediscounting
the notes taken against such loans
and it is for them more than for
and other agency, to determine
the policy of the South in regard
to the marketing of the present
crop.”
And President Woodrow Wilson
in a lettre to Mr. Harding vrites:
“It is evident from what you tell me,
that the country banks with whom the
farmer and other producers directly
deal can get money at from four to
four and a half per cent ... I think
that we can confidently expect that
the banks in the cotton States and In
the agricultural regions generally
will content themselves with a rate
not more than one or two per cent
above the rate which t’-ey themselves
pay.” It is up to the oanks to justiry
this faith expressed by the head of
the nation.
And the crop can be warehoused.
Mr. Harding points out that even last
fall the South had facilities for stor
I
ing 11,577,465 bales, and these facil
ities have been greatly increased since
then.
The next thing I probably ought to
say is—
V.—Twelve-Cent Trices are Justified,
Contraband or No Contraband.
Of the 8,543,000 bales of Ameri
can cotton shipped to Europe in the
fiscal year ending July 31, 1915, only
242,000 bales went to German ports.
Of course, there was more that went
indirectly to Germany, but we must
remember that a considerable part of
Germany’s normal demand for cotton
was exported to Germany’s foreign
trade and that this trade will now be
supplied by other countries. The
contraband order may almost be terrii
ed infamous if England does noth
ing to compensate us for trying / to
make Southern farmers bear her bur
dens, but in any case to offset / the
contraband order we have (1) / the
greatly increased demand for cAtton
for war purposes, (2) the Increased
demand for American, Englisli and
continetal factories that must supply
the trade formerly supplied bm Ger
man mills, together with the fmot (3)
that Germany is almost sure/to buy
and store up cotton right here/ in Am
erica to hold until sea t radii ts re
opened. Even with the contraband
order in effect, therefore, t\f*lve-cent
prices are amply justified/ whereas
with open seas to all Eurelie, cotton
would likely bring 14 to 11 cents.
An able and eminent coal in It tee on
arbitration ought to be runted at once
by England and America/to make a
fair and just estimate off the damage
in price per ponnd resulting from the
“orders In council” an/ contraband
order, and England should then he
required to pay tin’s amount per
pound as a bonns to every American
cotton producer this fall.
I confidently believe that if England
should change her contraband rules
so as to inflict corresponding injury
upon any strong American manufac
turing interest, some such settlement
would be required; and Southern
farmers should rise up and demand
that the samfc recognition be given
an agricultural industry as would be
given a manufacturing industry.
The practical lesson clearly taught
by present conditions then Is—
VI.—Farmers Should Hold for Twelve
Cents and Bankers Should
Help Them Hold.
Of course wd must be reasonable.
Don’t expect bankers to lend on cot
COfcfTItyJED ON PAGE 3
■HHBBHHnOMWK'
Money to Loan
on
City Property
6 1-2 per cent Interest j
7 Years Time
Clowdis Land Co. i |
| Lott Bldg.
ujHmimBBHmMmmmHmfc
I'l'Rimi^iuiier’si Sale,
Notice is hereby given, that in pur
sue uce of the au'uo.ity and direct! >ns
contained in the decretal order of the
Chancery court of Litue River county,
made and entered on the 19 of May,
A i>, 1 f;.in a cc’tain couse (No.
805) then pending between R. B. Wil
son, complainant, and Win. L. Harvy,
defendant, the undersigned as com
misioner of said court, will offer for
sale at public vendue to the highest
bidder, at the front door or entrance
of the county courthouse in which
said court is held, in county of Lit
tle River, within the hours prescribe*
by law for judicial sales, on Saturday,
the 18th day of September, A. D. 1915.
the following described real estate to
wit: Lots 7 to 12 inclusive In block
1, and lots 1 to 12 inclusive m block
2, in the town of AUene, in Little River
County , Arkansas. Terms or sale:
On a credit of three months, the pur
chaser being required to execute a
bond as required by law and decree of
said court in said cause, with ap
proved security, bearing interest ai
the rate of 6 per cent per annum from
date of sale until paid and a lien being
retained on the premises sold to se
cure the payment of the purohas*.
money. Given under my hand this 19
day of August, A. D. 1915.—Chas. H.
Park. Commissioner in Chancery S-77
-o
B. C. P. U. Program for Sept 19
Subject, What can the bible do for
me.
Leader, Grace Holman.
1. Scripture reading: Pso. 19: 7-11..
Melissa Medley.
2. Introduction, leader.
3. The bible helps us to live right,
Arville Flemings.
4. The Christians’ weapon of de
fense. H. A. Sims
Vocal duet, Mesdames Goolsby and
i Bishop.
The Christian’s comfort in time of
trial and the bible helps us to be use
j ful, Mrs Lon T. Jones.
The Christian must Know his bible,
jBurl Keenan.
Reading, The Sufficing bible, Mary
| Freeman.
Sentence prayers, Union.