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THE COTTON SITUATION. Wim The Present High Price React Sooner or Later, On The Cotton In dustry Of The South? Augusta Chronicle. 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 the South? 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 market. ** "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 heard-of figures." 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 globe. "'Fresh impetus to British and German efforts to raise cotton in Colonial Africa.' "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. SHELTERING ARMS. 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 forever on. 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. Laurens Advertiser. 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 perity. 1903 Seeds for 1904 Planting. 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 BUIST. You can buy them with confi dence, knowing them to be true and perfect in every way. MAYES' DRUG.... STORE.... 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 letters disma.issory. JOHN W . DOMINICK, GEORGE P. DOMINICK, and JOHN B. HUNTER, As executors of Geo. Dominick, ded'd. Wallace Plantation. 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. 50 YEARS' EXPERIENCE TRADE MARKS DESIGNS COPYRIGHTS &C. 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 Newberry Citizen. 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 no substitute. Blank Books. Begin the New Year With a New Ledger. We have LEDGERS, JOURNALS, DAY BOOKS, CASH BOOKS, RECEIPT BOOKS, MEMORANDUMS, In fact we have every thing needed in Book keeping. MAYES' BOOK STORE. draws 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 Jewelry Establishment. 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, Notice. 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, County Treasurer. W. W. CROMER, County Auditor. JNO. C. GOGGANS, Clerk of Court. .0.0. F. 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 dially invited. 3. S. SM ITH. N. G. T. 0. Steart. J. Secetary of Newberry, S. C. CxgaxXimiecl 1896. Capital - - - $50,000 Surplus - - - 19,500 Paid Stockholders since organization 21,000 Paid Depositors in Savings depart 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 nAch yf%ar. For First-Class Norfolk OYSTERS, (Served in any Style.) Steak, Game, Deviled Crabs, Or a good meal of any kind, go to JONES' Restaurant. Valuable. Land for Sale 82 acres 5 miles of Whitmire-25 acres in cutivation, 5 to 6 acres good meadow. Seven lots adjoining the corporate limits of Newberry. Good building sites. Terms and prices reasonable. For further informa tion call at OFF ICE. Get the Best! Subscribe to h Jcvlherry Hera1l alf News T1e Se11i-Vcelly NOWS aEl Courier. The best county newspaper The best general and State newspaper.. All the telegraph, State and genera? news you can read. Keep up with the news of the world, the nation, the State and your county. Get the two for a song-only Two Dol lars for a year's subscription to both THE SEM-WEEKLY HERAL D NEWS.. and THE SEM-WEEKLY NEWS AND COURIER. You know all about The Herald and News. The Semi-WeeklyNews and Cour ier, published at Charleston, S. C., is the most complete and best general semi weekly you can get. It publishes 16 pages a week, or 104 issues a year. Gives all the telegraphic and State news geerl oand specia1 tois DOLLARs through The Herald and News by eciaal arran-ement